Social Security Debate...My Two Cents

One would have to be liar or at least purposely ignorant to allege that Social Security, as it now constructed, is not in crisis. Unfortunately, many of our leaders fall into both categories.
It is, in it’s original form, a program that could only remain viable in a community with an ever increasing population. We are not that community. Our population growth has slowed to a mere trickle at 2.1335 births per woman. This is a disaster for the system as it is currently configured. With the coming baby boomer retirements, it puts a huge burden on the next generation and those that follow. In 1945 there were 20 workers for every retiree, now that figure is three to one, and falling. Soon it will be two to one...that means each of your children will be responsible for paying one half of every retirees allotted benefit. That is a massive burden.
Surely something needs to be done. And it is those elected officials that choose to ignore the problem, as it may be a political hot potato, that we can not suffer leading us to begin with. They very well know that those who will most bear the brunt of their inactivity rarely vote. “It is not the young who put me into office,’ must be their thinking. That thinking is not only irresponsible, it is dangerous. For those young are our children. Our future.
But let us return to the point, and that is Social Security reform. First and foremost it must be stated that those who do not wish to privatize, will not be forced to do so. This is as it should be in a free country. We call it choice. One we do not now enjoy.
Next let us look at rate of return. A study found here states those born in the 1920's could expect a return on social security of nearly 5.7%. But because of the ‘pay as you go’ nature of the program rates quickly fell from there. Those born from 1950-1970 could expect a return of 2% and those born in 1998 could expect a dismal 1.5% return.
As bad as the above sounds, it is worse if you are a black American. In a paper for The National Center for Public Policy Research, John Meredith states:

‘Single, black low-income males born since 1959 who earn about 50% of an average wage, for instance, will get back only 88¢ for every dollar they pay in Social Security taxes.’

And,

‘a single black American 21-year-old mom who makes the average wage for black American females can expect only a 1.2% rate of return on her Social Security taxes.’

This is in contrast to the Standard S&P which has had an average yearly return of 9.4% spanning from 1926-1996. Even a Real Long Term Government Bond earned 2.4% over the same span of time. In all seriousness, where would you want your money invested?
We should also look at who now holds sway over the money in the present system. As proven again and again by bureaucrats dipping their greedy hands into the trust fund, it is not you or I. Under a private system, the money grabbers would not be able to touch our funds. They would be truly private. As the system is now, if a spouse dies, the remaining spouse must choose which account to receive benefits from. The other benefit simply disappears into the great governmental netherworld. Under a private system the beneficiary owns their own fund. It is their money and can be willed to their spouse or remaining family. That is true ownership. And the route to amassing wealth.
Lastly, the money becomes active. It is reinvested into our economy. It can be invested in stocks, thereby aiding companies in research and development, increasing inventories, and/or updating resources. Or bonds to free up money for governments, corporations, or municipalities. In the end investment means jobs, and jobs are a good thing, right?
Let us not heed the liars and the idiots. Let us take back some of our freedom, a small piece of our liberty, and maybe even support our children in the process.