Are you a young worker, perhaps one just entering the workforce? If so, the Social Security issue is of great importance in your life. You have many years to prepare for retirement. You may think now that (1) it's so far away, you will think about it some other time, or (2) that you cannot afford to save now. Well, retirement will come sooner than you think. Even if you cannot save much, save something. Get into the habit. You'll be surprised at how quickly it adds up. Then, think about the wisdom of having private accounts in Social Security; either add on accounts as Congressman Rahm Emmanuel proposes, or a private account funded with your social security taxes, as proposed by some others. Right now you and your employer put a total of 12.4% of your wages into the social security system, plus the funds that go toward medicare. That's a lot of money in anybody's savings regime. Think what that could grow to if it were invested in a conservative mix of stocks and bonds. Even if only your own direct taxes (6.2%) were invested and earned as little as an average of 4% a year (far below the historical average), you would be able to purchase an annuity far in excess of what you can expect to receive from social security.
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So, I take my own "direct taxes" and invest them for "later" (my retirement)...where does the money that goes to pay your SS benefits NOW come from then?
You fail to fundamentally understand the way the SS system works, but it's not about making the system work...it's about supporting your own ideology that we can't (as a society) have a structure to support one another when we retire. It's "everyman for himself" with you guys...
SS will be there for the young if we (and they) want it to be, period.
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