Like so much that the federal government does, Social Security is an unconstitutional program funded by an unconstitutional tax requiring that the wealth of one citizen be taken to enrich another and fund their “needs”. For years Americans have been forced to pay into this program by government dictate without any consideration for personal liberty.
Because the government has taken this money it is the responsibility of the government to make every effort to return the funds to those that they have taken it from (under threat of force mind you) and pay the benefits that have been promised. However no new additions to the Social Security roles should be added nor should those that will not benefit from it be taxed to pay for future commitments. We have to stop somewhere and draw a line in the sand.
Paying the existing commitments to those that have been forced by the hand of government to contribute to this program will not be easy considering that the program makes up about 21% of total federal government expenditures. However difficult though, money should no longer be taken directly from the paychecks of working Americans nor should a new direct tax be levied to continue this commitment.
Citizens who have paid into this scheme should be allowed to forgo their promised benefits and withdraw their funds or decline future funds in return for no longer being taxed to fund the program.
Will this hurt the system? Yes. Will it potentially bankrupt the federal government? It most likely will. But eventually we as Americans must be willing to correct mistakes and take our lumps rather than continuing a slow march to oblivion.
It is better to take a few lumps now and return to a constitutional government bound by limited and defined powers than to deal with bigger and potentially fatal lumps later.
I am personally willing to forgive the federal government of its obligation to return the money it has taken from my paycheck to fund this program on condition that it absolves me from any future withholdings or other taxes to fund it. However please note that this is not an open ended offer without expiration. Like I said, government should repay that which they have unconstitutionally taken and if it continues to insist on garnishing my wages I will expect that money to be repaid although admittedly at a rate pathetically lower than what the free market could have provided.