So no changes go into effect until 2028? And Medicare is supposed to be broke, depending on who you talk to, sometime between 2019 and 2024. It looks like the plan may still need some work.
You raise a very good point. I am thinking people under 55 should be given an option to begin their own retirement account with portion of their FICA & Medicare tax, very soon.
I like the Chilean model where workers have just such as option, but the money is invested by a panel of investment experts. Most people are not good investors by themselves. That account remains in their own name, the government can’t tamper with it, and it can be passed on to the heirs if not used up.