"The problem isn't the concept - the problem is that the program was never properly funded in the first place." S2 #167
That's a widely held view.
Several differing forms of implementation of this might be an improvement.
My personal preference is a system which is absolutely 100.000 ...% insolvency proof. A simple way to guarantee that is to NOT pool / slush the $money. Each individual citizen pays into their own, and only their own, entirely their own retirement. I KNOW !
Social Security does more than that.
Problem is Social Security is fast careening toward insolvency as the ratio of workers paying into the system continues to shrink in proportion to plan recipients, as you've observe in #167.
personal note:
It's not speculation, a wild hunch. Very early in my career, with only a high school diploma I set aside $10% of my income. The set-aside fluctuated, reaching nearly 30% when that became practical.
It worked so spectacularly well I retired at age 43, and now over 70 live comfortably on an estate hundreds of acres inside New York State's Adirondack Park.
It's not a hypothesis based on a fantasy based on two plus two equals a bagillion style $math.
It works.
I'm living proof.
Certain modifications may be necessary to render it catastrophe tolerant. If my arm fell off it wouldn't have worked as well. But the basics are guaranteed.
And the stunner in all this is, I didn't need no steenkin' government program. I did what it seemed to me to be the sensible thing to do.
"BTW, the national debt does not include the funding shortfalls for Social Security and Medicare - that's by definition so the reality is the "real" national debt is at least $150 Trillion dollars (and yes that's with a "T") higher than the $36 trillion. you've cited." S2 #167
Indeed.
If you have a link which lists the grand total, please post it. Generally Brillig and such sites restrict their figure to exclude that.
"Of course Musk and the GOP could simply eliminate those programs (which is what they want to do) - and that figure doesn't include funding shortfalls for state and municipal pensions either (we've already seen some cities declare bankruptcy to get out from under the weight of their municipal pensions)." S2 #167
Which compounds the insanity of the current system.
Let no one infer what I shall never imply.
I do NOT advocate metaphorically pulling the rug out from under ANYone that has been coerced into depending on this system, myself included.
But this financial cataclysm can be phased out in more than one way. I advocate a way which reduces harm to negligibility.
"On the topic of SS, there is no separate fund with your name on it. Reality is all income (i.e., SS taxes) are pooled together" S2
iirc Senator Daniel Patrick Moynihan [D-NY] tried to compel government to obey the law and separate this revenue into a "lock-box". BUT !!
Congress had a towering funding shortfall. And the sleazy solution was to slush $SS revenues in w/ the general treasury.
The MOC responsible for this betrayal KNEW they were creating a monster. BUT ! They also knew the calamity it would cause would be enough years in the future they could simply retire rather than deal with it.
They created the mess, making things easier for themselves, knowing
others would have to clean it up
or not.
sear's IRA / 401k substitute sidesteps all of that.
"Social Security is what's known as a "PAYGO" (Pay as You Go)" S2
a) Yes.
b) It needn't ever have been.
c) Advocates for the status quo tout ... . Fine. BUT !!
d) They neglect to remedy the seemingly insurmountable complications.
Driving a wood stake through the heart of PAYGO, terminating it immediately for metaphysical perpetuity is not merely a practical necessity.
Failing to do so will bedevil our legislature and the People until they do.
Meanwhile:
"When the President [of the United States of America] does it, that means it is not illegal." President Richard M. Nixon
You're in rare company Don.
The only U.S. president ever to have been twice impeached, the only U.S. president to be party to armed insurrection to overturn a presidential election
mirroring the only U.S. president ever to have resigned in disgrace. BUT !
I have confidence in you Mr. Trump. I have zero doubt you'll find ways to sink lower still, before you exit the office, or die.