Well, you are mostly right, but not quite. There is a "Trust Fund". However, it's filled only with US government IOUs -- non-negotiable, non-tradeable special govt notes.
I'm aware of the government IOU's, and it still means there is no "trust fund" with my money in it. It's just paper - part of the fraud scheme.
Everyone should have the ability to opt out of SS by receiving a lump sum equal to all their "contributions" over their working years, plus all their employers' "contributions", plus a nominal rate of interest from the government (less any retirement benefits already received). Most people under 50 would take the money and say "nuts" to socialist security.
Everyone should also have the ability to opt out of Medicare.