There is a huge problem with collecting 12%+ payroll tax, SS and Medicare, from my 21 &23 year old children, promising they will get a retirement check when they turn 62.
I am 7 years away from 62 and I don't think there will be a check for me and that is after paying since I was 16 years old.
In the 70's I worked for a company of ex-fed big wigs, years later I found out they stole my ss withholdings.
In my ss account it looks like I simply wasn't working during that period.
I wasn't alone either, we filed class action to no result.
That was a big lesson to me about these guys.