Recently, changes were made which affect the amount that Americans contribute to programs through their paychecks as well as to some of the benefits that they receive. A majority of U.S. adults say they are familiar with the changes to extend unemployment benefits (69%), extend the Bush-era tax cuts (65%) and the recent changes to Social Security contributions (53%).
These are some of the findings of a new 24/7 Wall St./ Harris Poll survey of 2,364 U.S. adults surveyed online between January 27 and 31, 2011 by Harris Interactive.
Although a majority are familiar overall, older Americans are more likely to be familiar with these recent changes than those younger. Over four in five Americans aged 55 and older say they are familiar with the extension of the unemployment benefits (85%) compared to three in four of those 45-54 (76%), two thirds of those 35-44 (65%) and just half of those 18-34 (51%). Similarly, Americans 55 and older are more likely to be familiar with the legislation to extend the Bush-era tax cuts as well as the changes to Social Security contributions (80% and 70%, respectively) than are those younger. In fact, among 18-34 year olds under half are familiar with extending the Bush era tax cuts (48%) and just over one-third (36%) are familiar with changes to Social Security.
Expectations and Planning
When asked if Americans believe they personally will receive more money this year as a result of the recent changes, one quarter say they think they will (24%), half of Americans think they will not receive any additional money (49%), and 27% are not sure. Older Americans, who are most familiar with the changes, are most likely to say they do not think they will receive any additional money this year as a result. Over six in ten Americans 55 years and older say this (62%) compared to fewer Americans aged 18-34 (44%) and 35-44 (38%) who say the same. Not surprisingly, younger Americans, least familiar with the changes, are more likely than those older to be unsure whether or not they will receive more money as a result – one third of those 18-34 say this (33%), compared to a quarter of those 45-54 (25%) and only one in five of those 55 and older (20%).
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