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Conservative think tanks have been pushing a false narrative that older Americans who collect Social Security are somehow ‘ripping off’ younger adults. This propaganda ignores the facts — pitting hardworking Americans (of all ages) against one another.
While right-leaning analysts argue that younger workers shouldn’t have to pay into Social Security while wealthy ‘greedy geezers’ collect benefits, the data tells a different story. New statistics show that poverty among seniors is on the rise, reaching 15% in 2024, according to the U.S. Census Bureau’s Supplemental Poverty Measure (SPM).
Seniors now have the highest poverty rate of any demographic group. They also are the only group whose poverty rate increased last year, as pandemic relief programs faded and persistent inflation—exacerbated by Trump’s tariffs—put an additional strain on their finances.
The latest U.S. Census Bureau data shows that seniors continue to face significant economic challenges. Traditional poverty rates (different from the SPM) among Americans aged 65 and older ticked up in 2024, rising to nearly 10%. This contrasts with declines in poverty observed for children and working-age adults during the same period.
Source: Statista, using U.S. Census Bureau data
Experts like Ramsey Alwin of the National Council on Aging warn that Trump/Republican economic policies favoring the wealthy have had a widespread impact on the well-being of American seniors:
“When we lifted up individuals and families during the pandemic, poverty among older Americans went down to 9.5%. When that help went away, poverty increased. Programs like SNAP, Medicare Savings Programs, and Medicaid provide much-needed assistance that must continue. But the recently enacted cuts to SNAP will increase hunger among older Americans and the recently passed Medicaid cuts will lead to a sicker older population.” – Ramsey Alwin, President, National Council on Aging
Social Security and Medicare are lifelines for tens of millions of seniors, many of whom are struggling to make ends meet. The myth that the most vulnerable among us are lining their pockets at the expense of younger generations would be laughable if it wasn’t so harmful.
In a recent piece in Newsweek, NCPSSM President and CEO Max Richtman called Social Security a “win-win for the older and younger generations” and criticized what he called “a false narrative that needlessly pits the generations against each other.”
In fact, younger generations will depend on Social Security even more than today’s seniors. Millennials and Gen Z are less likely to have access to traditional pensions, face record student debt, and have seen housing and healthcare costs rise much faster than wages. Meanwhile, Social Security is there for younger adults now — in the form of life and disability insurance for eligible workers. Millions of younger adults received Social Security survivor benefits as children, after the death or disability of a working parent.
The ‘greedy geezer’ myth has become demonstrably even more false during the second Trump administration, despite the president’s hollow promises to protect Social Security. The administration recently proposed deep cuts to Social Security Disability Insurance (SSDI). These changes would reduce eligibility for SSDI, hitting older workers with disabilities hardest. Advocates warn this could push hundreds of thousands of older Americans into poverty and ill health. Meanwhile, the White House continues to shrink staffing at the Social Security Administration (SSA), resulting in longer wait times and reduced service.
There is no doubt that younger workers face significant financial challenges of their own — and policymakers should address those challenges. But we must continue to call out right-wing propaganda that attempts to undermine Social Security by dividing the generations.
“If conservatives are so concerned about younger adults, why don’t they prioritize spending in ways that would help them — such as housing, affordable medical coverage, and lower-cost college education?” asks Max Richtman. “And why does Social Security need to be sacrificed, when there are other big ticket items that could be scrutinized, including trillions of dollars in tax cuts for the wealthy?”
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Read the latest data about senior poverty here.
Read more about common Social Security “myths” here