This is pretty pollyannish. If you cut social security benefits by 21% then there will be a revolution. If you increase social security taxes by 21% then I suspect a lot of people will pull their support for social security, particularly the young. And I think this problem is going to begin to fester even before social security exhausts the trust funds. The reason is that they will need to raise taxes or print money or both in order to honor the IOUs in the trust fund. And all this is going to be going on at a time when Medicare will be exhausted as well. It’s not so easy to reduce Medicare benefits.
How would the young person pull their support for social security, when it’s taken out of their paychecks automatically ?