Poll: US boomers support tax hikes on young workers to keep current Social Security checks — the view is overwhelming

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With the Social Security trust fund heading for depletion in just six years, according to the Committee for a Responsible Federal Budget (1), there’s a growing flurry of policy suggestions to fix the problem before it’s too late. But for an overwhelming majority of seniors, one potential solution to the problem stands out above all the rest: raise taxes on younger Americans.

A whopping 89% of seniors over the age of 65 said Social Security benefits should be protected at current levels, even if it means higher taxes on younger Americans, according to a 2025 survey by the Cato Institute (2).

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And it’s not just Baby Boomers who prefer this solution. Roughly 74% of 45 to 54-year-olds and 84% of 55 to 64-year-olds said the same. Simply put, you’re more likely to prefer higher taxes on workers if you’re closer to the end of your working years.

Perhaps unsurprisingly, workers on the other end of the age spectrum have another idea: benefit cuts. “Younger Americans are nearly eight times more likely than seniors are to support benefit cuts to help solve the financial problems in the Social Security system,” Cato noted.

Here’s a closer look at how this generational divide could impact your benefits and taxes.

The gerontocracy’s impact on your finances

Since there’s a clear generational divide over potential fixes to the Social Security system, the group with more political clout is more likely to get its way. And in 2026, the balance of power clearly tilts towards older Americans.

The median age of U.S. voters is 52, according to the New Yorker Magazine’s post on Threads (3). For primaries, the median age is even higher: 62. “The oldest voters ordain the choices for the rest of us,” according to the publication.

This is also reflected on Capitol Hill. In Congress (4), the average age of Members of the House is 57.9, while the average age of Senators is 63.9. Donald Trump himself is 80, making him one of the oldest national leaders in the world, according to Pew Research (5).

Simply put, the system is looking increasingly like a gerontocracy, or a society where decisions are made by its oldest members. The fear here is that those in this bracket will make choices that benefit themselves, while leaving young people behind. This could be reflected in policies that stretch far beyond just Social Security, and has been raised as an issue by some experts.

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“I feel like almost every economic policy is nothing but a thinly veiled transfer of wealth from the young to the old,” NYU professor Scott Galloway told Rich Roll (6) on an episode of his podcast that aired in 2024.

However, there are ways to protect your wealth from this ongoing transfer and potentially higher taxes in the future.

Read More: Thanks to Jeff Bezos, you can become a landlord for $100 — without the headache of actually being one

Mitigating the impact

Social Security’s funding concerns impact everyone, but if you’re still years away from retirement and worried about steadily rising taxes, there are two ways to mitigate the impact: planning and diversification.

Diversifying your income beyond regular employment could help you create a nest egg that isn’t impacted by payroll taxes. In fact, investment income usually gets favorable treatment when compared to employment income.

If you’re not sure where to start, Moby can help you learn from experienced investors about putting your money to work in the stock market. offers expert research and recommendations to help you identify strong, long-term investments backed by advice from former hedge fund analysts.

In four years, and across almost 400 stock picks, their recommendations have beaten the S&P 500 by almost 12% on average. They also offer a 30-day money-back guarantee.

Moby’s team spends hundreds of hours sifting through financial news and data to provide you with stock and crypto reports delivered straight to you. Their research keeps you up-to-the-minute on market shifts, and can help you reduce the guesswork behind choosing stocks and ETFs.

Plus, their reports are easy to understand for beginners, so you can become a smarter investor in just five minutes.

You can consider further diversification with some passive income from real estate. Arrived can help you get started by investing in shares of vacation homes or rental properties.

Backed by world-class investors, including Jeff Bezos, Arrived allows you to invest in shares of vacation and rental properties, earning a passive income stream without the extra work that comes with being a landlord of your own rental property.

To get started, simply browse through their selection of vetted properties, each picked for their potential appreciation and income generation. Once you choose a property, you can start investing with as little as $100, potentially earning monthly dividends.

Once you’ve diversified your income, you can turn your attention to tax planning. Experts from Advisor.com’s network can help you draft a plan that considers all the variables that impact Social Security to shield your personal finances from any abrupt policy changes.

Advisor.com does the heavy lifting for you, vetting advisors based on track record, client ratios and regulatory background. Plus, their network comprises fiduciaries, who are legally required to act in your best interests.

The platform’s AI-powered matching tool will connect you with a qualified expert best suited for your needs based on your unique financial goals and preferences. You can even set up a free call with no obligation to hire to make sure they’re right for you before committing.

With a diversified pool of income and an expert financial coach by your side, you can navigate any future changes to Social Security, whether that’s a tax hike or a benefit cut.