The current retirement crop will be ok, but the future must be looked at and people paying into the system now need to support changes that would be good for them in the future.
Like private investment of SS taxes not coming out of your check.
The future belongs to you.
You must take those reigns in your hands and do what is right for your generation and those that follow.
I think that people going into the system now and people on it now, understand this. Their benefit growth will have to stop and slow way down as you revamp for your needs that your children will be paying for.
This all sounds good, I know, but it is the reality.
Government needs to get out of our lives, our wallets, and our banking accounts.
Greenspan needs to take a long hike and forget the way home.
SS taxes are used to fund daily government operating costs, they don't go into a bank account somewhere waiting to be used for future benefit payments. Private retirement programs will not result in getting rid of this tax, it is needed to fund the government. That's why the coming baby boomer retirement is such a problem, it takes funding away from the general revenues and uses them for SS payments instead of government operating costs.
We are running our country on borrowed money, and the bills have to be paid somehow, someday. Credit card financing of one's lifestyle only works for so long, then it collapses taking the lifestyle with it.