Social Security is a tax on income and an entitlement program only. It has nothing at all to do with savings.
The money confiscated for the Social Security scheme directly impacts the life savings of every American citizen that is forced to pay into the system.
The return on investment if the money were saved in a bank or placed in work on investments would be far more in value that what the individual would get in return from the Social Security system in their remaining lifetime.
You bet your ass that it has something to do with savings...it ROBS citizens of their ability to save and invest because the “contribution” (it’s not call a tax for propaganda purposes) is ripped from their hands before they can save or invest it.
Consider a person making $10/hr begins at age 25 to work ten extra hours each week and puts that money into an investment with a 5% yield. He/she continues to do so until reaching the age 45, at which point they stop working the extra hours and no longer contribute a single dime to this investment fund. When that person turns 65, they will be handed a check for $485K. And if that same person happens to die, that money will be handed over to their kids and grandkids, thus breaking the cycle of poverty in future generations.
There is no greater factor in today'w world for exacerbating the cycle of poverty than the Social Security ponzi scheme.