Comparison of returns is meaningless. The essential comparison is a sustainable (privatized system) versus an unsustainable model (US Social Security). One factor that makes Social Security unsustainable is the CPI-W COLA. Who is not for a CPI-W COLA? Everyone is for it except that it is not sustainable. Who will fund the CPI-W COLA especially when a nasty bout of inflation occurs? Obviously the Social Security model is also broken because there is no asset pool to fund benefits. Comparisons of returns assumes that both systems are sustainable. We will never win a debate on Social Security unless we can convince the public that Social Security is not sustainable. Unfortunately, phony government accounting obscures the unsustainability. Seniors (especially the greatest generation) has been a solid voting block resisting change. Of course, the greatest generation was on the front end of the scheme, protecting intergenerational theft.
How could we launch a campaign to convince younger voters that they’ve been effed over by Grandpa?
In all honesty, there would have to be a phase out where people recieving SS today and those scheduled to in less time than they could build a sufficient balance in their private account would likely have to be set up to get something under the current system.