When simply asked about the option to invest some of their Social Security contributions, age 18+ Ohioans are split in their reactions to private accounts – 45 percent favor them, 48 percent are opposed, and 8 percent don’t know where they stand.
There are sharp age differences in reactions to private accounts: 60 percent of age 18-39 Ohioans favor private accounts whereas 51 percent of those aged 40-59 and 67 percent of those age 60+ oppose them.
However, when consequences of private accounts are introduced, support for them decreases greatly. Between 43 percent and 57 percent of people who initially favored private accounts ended up opposed to them when presented with some consequences. As a result, exposure to any of the consequences presented increased the initial 48 percent of respondent opposition to private accounts to a substantial majority (between 67 percent and 73 percent total opposition depending on the consequence presented). Telephone interviews of 700 randomly selected Ohio residents age 18 and up were conducted between April 1st and 13th, 2005 by Woelfel Research, Inc., a national survey research firm. Further information about the survey may be obtained by contacting Dr. Wright at 202-434-6278. (16 pages)