PRESERVING SOCIAL SECURITY FOR FUTURE GENERATIONS

Social Security really is not what citizens expect it to be. I see statistics that 6 million seniors are living on Social Security below the poverty level in America and that is a poor result for the richest country in the world. When my colleges and I were counselling Entrepreneurs in Silicon Valley forty years ago we were advising them to prepare their own personal retirement plan because Social Security may or may not meet your needs or exist. My solution to preserve Social Security may be too late to implement, but, if possible, simply begin payment to beneficiaries at age twenty regardless of their income status. And continue this procedure over the next ten years paying each age group, 30-year-olds, 40-year-olds, 50-year-old and so on. In 10 years, all citizens would have a base income to purchase their own benefits and there would be no need for all the government entitlements that are in my opinion ineffective for people's needs. By phasing out the need for government entitlement there would be no need for the blotted federal autocracy and the cost for the increased benefit could be paid dollar for dollar with the reduction of the government entitlement programs. government employees would then be available to enter the private sector and share their skills there. This would not reduce the National Debt now at 36 trillion dollars, but it would boost the GNP with the influx of business growth in the private sector. If the GNP were to skyrocket, it would dwarf the 36 trillion-dollar debt and render it insignificant. It would be necessary to modify the ridiculous Income tax system in the country. Make the Social Security benefits exempt from taxation and better yet, implement a flat tax of maybe 20%. Another factor that was mentioned is the impact of Artificial Intelligence on the work force. the entrepreneurs in Silicon Valley predicted that AI would replace 60% of the jobs existing then. If you had a 60% unemployment situation with no personal income, it would be disastrous. Like every revolution in history from the Industrial Revolution to the present-day Artificial Intelligence Revolution, people and economies adapt and a higher quality of life is the reward. If a person had a dependable income, for example, $2,000 per month with a reasonable COLA, not the abbreviated one used by SSN today that ignores the real inflationary factors the erode earnings today. There is always a better way to improve a situation with the right amount of input from people other than just Lobbyist and special select groups. Sharing ideas is the way to improve everyone's life and that would be a good thing.