I'm in my mid-forties, and I could care less about social (in)security. I'll take care of my own retirement.
Socialist Security should be completely dismantled. Give everyone the option to receive a lump sum and exit the system right now. This would be equal to total employee and employer contributions plus interest. Most younger people (under 50 I think) would take the lump sum. Stop all new SS taxes, no new participants. Older people probably would not take lump sum payment, but in 20-30 years the mess would be cleaned up, as people die. Billions of dollars would be "liberated", to be invested as individuals see fit: stocks, real estate, bonds, etc. (For the benefit of liberal lunatics, this idea is called "capitalism".)
Socialist Security is a fraudulent Ponzi scheme. If a private corporation ran a pension fund in the same manner, the company executives would all be sent to jail.