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Opinion: You decide — how will Social Security be fixed?
['Mike Walden']
The Wilson Times Latest News
For example, on the benefits side, the age for receiving full Social Security benefits was increased, thereby lowering payouts.
Also, federal employees became eligible for Social Security and therefore started to pay Social Security taxes.
An alternative approach is to significantly change the Social Security system, primarily by giving workers more control over how their Social Security payments are invested.
Currently, Social Security revenues are required to be invested in U.S. Treasury securities, which are totally safe and repaid when the term of the security ends.
Privatizing Social Security would mean workers would control where their Social Security taxes are invested, which could even include stocks.