|Tibor Machan wrote an RoR article addressing SS here. |
I commented on it and supported a phase-out here, by cutting benefits and/or possibly raising the retirement age. For example, a person already receiving benefits would face no cut, a person now age 55 would get a 25% cut, a person now age 45 would get a 50% cut, a person now age 35 would get a 75% cut, and a person now age 25 or less would get nothing. (The full schedule could be more refined.) OASDI taxes could be phased out to track declining total benefit outlays.