SS should sunset with the 50 year debt elimination provision. My point is that no one should be able to vote on his own benefit. People should be allowed to determine and provide for their retirement.
How to Sunset Social Security, fairly.
Here, in my opinion, is the fairest method:
All SSI recipients have their total contributions (including employer match) calculated. Interest is applied using the rate of the 30 year T-bill, and is compounded.
For people who have not yet started collecting SSI this amount is sent to them in a check. This money can either be saved tax free, invested tax free, gifted tax free or willed tax free. It can be converted to an annuity, the proceeds of which are tax free.
Survivors recieve 100% of the contributions + interest of their spouse or parent, in the case where the contributor has passed away.
For people who have started collecting (or perhaps are within some small window of being able to, like over 60) they can either continue to receive benefits or take a one time disbursment based on the above formula, less money taken out.
People who collect from the system without ever having made a significant contribution (the ‘disabled’) are moved to state welfare or other welfare program.
(The combining of working people retirement system with a highly-abused ‘disabled’ program is perhaps the very worst feature of the horrible SSI program.)
To me this is fair, because it gives people what they earned. Nothing less, and nothing more.
The absurd gaming of the system would stop. The ability of politicians to reward and punish based on things like marraige (mostly a negative at this point, you are better off being in a gay relationship) stops.