This completely excludes the fact that the dollar in ‘64 had vastly greater purchasing power than it does today. That $174 then is worth $1228.14 now, according to the governments own numbers. The COLA and benefit increases since supposedly take that into account, but I don't buy it.
So it is less a matter of ‘are you going to get all you put into it back out?’ (objective answer: no) but a matter of who is going to pay for it down the road.
Means testing isn't going to do it, and it will punish those who put the most into the system. The idea is a nonstarter. The question now has to be asked “Who in the future won't be getting SS when they retire”.
OK, let's try again. We can talk all day about how Social Security works and the mistakes that have been made. I could bore you to death with all the details that I've accumulated over the past 30 years.
I was simply correcting your assertion that the future value of Social Security benefits exceeds the present value of your contributions (for most people). That's not true, and it hasn't been so for quite a while. The early recipients did quite well, and some of the beneficiaries that retired in the 60's, 70's, and 80's did well because the legislated increases in benefits (both overt and COLA) pushed their benefits beyond an actuarilly-insustainable level -- which is what got us in this mess.
It's not as simple as adding up your contributions (real or hypothetical). You have to account for the time value of money, using historical data and/or an accepted future discount rate. I'm not an actuary, nor do I play one on TV. But, if you really want all the details, you should consult one.