Social Security in the United States, is a program of the United States federal government that provides retirement income, health care for the aged, and disability coverage for eligible workers and their dependents.
Despite what you hear, Social Security is not
in crisis, to give you an understanding, if the government wants to fix
Social Security, they could increase the federal income tax by 0.5% to 1% per year and the problem is solved. That isn't to say it should be the course of action, I am only attempting to give you an understanding of the magnitude.
There are certain things in my opinion that shouldn't be privatized, Social Security being one of them. My main argument for this is if successful investing isn't challenging enough, even for the well-informed, a potential plan to privatize Social Security would turn that responsibility over to novice investors across America. The market will dictate my pension, I say no thanks, when I'm old and gray I want some sort of "social security" and not wondering what the Dow Jones Industrial Average is doing.