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Some low income people will live long lifes and collect benefits for a long time, and some high income people will have short lives and never collect a cent.

That's true. But unless you want my post to be 300,000,000 pages long, you have to deal with "averages." Some people will get screwed. Some people will make out handsomely. That's the way it is with annuities, life insurance, and lots of things in life.

Also, aren't you undercounting the SS taxes by half ? There is both an employee and employer paid part.

That's also true, but I have always doubted that "the other half" is really yours, because if the government stopped collecting it, I seriously doubt the employers would just hand it over to the employees. When corporate tax rates went down, did you get a raise?
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