Alright so we all realize Social Security doesn’t have a future long term. So here’s my idea. The government gives every newborn a chunk of money. Let’s say 10k. You could put 70 percent in a basic index fund and the rest in long term bonds. This would give every American the opportunity to have a substantial savings by the time they retire. It would also allow for them to be able to pass on their wealth to the next generation.
Also for my fiscally conservative people. Obviously it’s substantial investment but it would be pennies compared to what we pay in our current system. We could tax the first investment by 2 or 3x after the person passes away. This would lead for the program eventually getting to the point where it is paying for itself.
Finally you could even toy around with the program, where people could pull out a portion to pay for medical expenses, down payment for their first home, etc.
Let me know what you think!