We should? Who’s we and how will those “we” go about it? Mastrurbation.
The idea of reforming SoSecurity has been around for something like 30 years, since Reagan. At least. The same as the idea for reforming the tax code. What’s happened? Yopu’ve been voting the same losers to Congress every two years since then, who do nothing about it, not a single thing.
Anyone who’s worked for a good size corporation will tell you how the company adjusts, improves their 401K program every year. I recall that at one point I had at least a dozen investment choices which I could adjust at any time with full control over my money. Why couldn’t Social Security be managed in the same way? Because it’s government, it’s elections, it’s bribes in Washington, lobbies, corruption, it’s low info voters.
Well, the problem is the reformers you talk about are mostly people that are trying to “save” Social Security. Why not just create an account for retirees and give them T Bonds & Bills equal to what’s owed to them..and to all workers..end FICA and give them accounts for what’s been “paid” so far..a hell of a lot cheaper than tweeking the ponzi scheme or doing nothing..the babyboomer tsunami will wipe the system out 10,000 per day for the next 20 years..with a $2 trillion unfunded liability.