Social Security should be more like a savings plan for US Citizens which generates wealth and provides real security for working people and the retired.
Americans currently support this program with an automatic deduction from each and every paycheck.
I believe we could solve issues of cost of living for the retired and supplement household savings by tieing Social Security to the creation of a US Citizen Index Fund.
Each individual contribution is invested in the fund, which can operate much like a private 401K with the core investments being US commodities and publically traded corporations.
This fund would provide real wealth and increase with interest over time for the citizen investor.
After a determined amount of employment quarters, the individual would be allowed to take a 20,000 tax-free distribution to buy a home, pay for their or a child’s education, start a business or provide funds an emergency.
Americans would be able to accumulate wealth by investing in our country while being able to save for the future while employed.