Here is a fix. Other countries have done something similar.
How Three Texas Counties Created Personal Social Security Accounts and Prospered
https://www.forbes.com/sites/merrillmatthews/2011/05/12/how-three-texas-counties-created-personal-social-security-accounts-and-prospered/?sh=208f0c683283
And those who retire under the Galveston model do much better than Social Security. For example:
A lower-middle income worker making about $26,000 at retirement would get about $1,007 a month under Social Security, but $1,826 under the Alternate Plan, according to First Financial’s calculations.
A middle-income worker making $51,200 would get about $1,540 monthly from Social Security, but $3,600 from the banking model.
And a high-income worker who maxed out on his Social Security contribution every year would receive about $2,500 a month from Social Security vs. $5,000 to $6,000 a month from the Alternate Plan.
The privatization model (so-called) won’t fly with Congress and the media. Baghdad Bush tried it. Failed. Did even Trump try it?
Won’t do it because it’d work. They haven’t tried working solutions for decades, on any problem. The first and only goal is money laundering for power.
That is fine if you are still working but what about us blue hairs that have left the work force and have paid into it for 30+ years.
It is a great solution for younger folks