+1 Although I would like to see this happen in less than 20. SS really is pointless when no one expects or plans on it to fund any of their retirement. They are already taking steps to do that themselves.
The problem is, there are a great number of people that view SS as exclusively their retirement. They've done nothing to save, work, prepare for their later years. Live in the moment, no worries, SS is there at 62!
Until people realize that the mediocre life they are living now, coupled with their subpar choices in career, will greatly reduce their SS check amounts... Well that will never happen, so fuck it.
I would have made more back on my SS taxes if I was FORCED to invest that same withholding in an investment fund over my 40 year career... Bush tried to partially privatize SS but the Dems used scare tactics on the senior citizens to create a public outcry... when the privatization would never have impacted senior citizens or those close to potential retirement.
Time to phase SS out with a compulsory private program. Get the gov't out of it. They can still levy my paycheck and transfer that to the funds they back... SHIT they can even take 1% to help fund the existing SS entitlements. I don't care... it just needs to be fixed, and it will take multiple adjustments and changes to do so.