Social security must be preserved in its present form for current and future retirees. With fewer Americans receiving pensions after they retire, social security has become a primary source of income for many of the elderly. In fact, social security represented about 38% of the income of the elderly. 1 Clearly, we need a guaranteed source of income for seniors that they can depend on.
With small tweaks to ensure that sufficient revenue is flowing into the system, we can ensure that benefits are available for future generations. I am completely opposed to any plan that would privatize social security.