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Perhaps we first should go about getting out from under the current system.
How should it be ended? What would be "fair" to the people who have paid into it and not rob those who need it now?
My modest proposal:
State that as of a certain date, say, March 1, 2005, all children born will not be able to enter the system at all. Those who are already in it (to whatever extent) may opt out but will lose whatever they paid into it. If they choose to remain, they continue to pay at the current rate and receive the promised benefits at the end, but with no guarantee that SS will survive that long. Those who are already receiving SS benefits will continue to do so until death, as promised.
This will take at least a generation to fully implement but it seems to be the fairest I can think of.
Comments?
BRian
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