Social Security should not, in any form or fashion, be privatized.
I would also resist any effort to raise the retirement age or reduce benefits. Social Security has been a tremendous success in reducing poverty among elderly Americans over the course of the last few decades.
While I am aware of the demographic and financial challenges the program faces, solutions exist that will allow us to keep our promises to our senior citizens.
The Social Security trust fund is predicted to be depleted by 2034. But, we’ve faced these situations before and always found a way to protect and revitalize the system. We can do it again even if it involves raising the maximum taxable income cap.
The faster Congress acts, the less severe the problem. We can’t wait until 2033 to try address the issues.