“In my opinion amputation, cutting off SS immediately is the answer.”
So what do you do for the people, say 55 and above who are expecting it and those already retired already on it?
This is why it has to be a phase-out. I think the only way to do it is to announce that from now on, no one will contribute to Social Security, and everyone who has contributed will get benefits based on the level they contributed; thus, a 25 year old will get obviously fewer benefits than a 60 year old.
Because you're not collecting social security tax any longer, it would need to be paid out of general revenues once the "trust fund" is exhausted, but although that's a bitter pill, it will get easier over time and is a choice that should be made.
they voted for the people who spent their money. screw them all. making one generation pay for the mistakes of another gerneration is not the solution.
i'm 36 and have been paying in for twenty years now and have nothing to show for it. i'll be paying in for another 20 years and then what? NOTHING
you can have my first twenty years, just shut the damn thing down or let me the hell out.
Phase it out. Start now.