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You may have noticed that I'm skeptical of these claims that most people would be better off financially if we privatized SS.

I have claimed that any program that actually "adds up" requires that large numbers of current workers or retirees lose ground financially.

A growing number of workers under 40 have little faith that SS will provide them with support in retirement. With SS offering such a meager rate of return already, the ability to divert increasing percentages into private accounts, where individuals can view the balance of a retirement portfolio with their name on it may be more comforting to many than the promises of a politician that the government will take care of them.

Means testing might be another method to ensure that the pain of phasing out SS will not send seniors into poverty. Seniors with sufficient investment income would likely accept reduction or elimination of their retirement benefits, if it meant their children would be freed from SS.
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