Maybe the system should be phased out, totally revamped, or scrapped and something else put in its place.
I believe there was a 2016 Tax Foundation study that found, for all except the lowest-earning workers, private retirement accounts were far better than Social Security benefits. A worker earning average pay and saving 10% of their salary, will end up with annual retirement income three times more than what Social Security offers.
Maybe we should implement a program that serves the lowest earning workers, and takes care of death and disability needs. I'm not enough of an expert to figure something like that out. A safety net only type of program instead of a partial retirement funding scenario along with a safety net.
I do know, I'd rather have 3 times more than what SS is providing me with in my retirement.
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