On Saturday, President Obama railed against supposed Republican attempts at privatizing Social Security. He also warned against letting people on Wall Street manage it. I don’t know what Republicans want to do with the program.
I do know that if you controlled that portion of your taxes that are now taken for the program, politicians couldn’t get their hands on it. You would have the choice of what to do with your own money. We see what politicians do with money: they spend it on all sorts of boondoggles. Social Security taxes are no different. There is a trust fund, there IOUs in it, you do not own your portion of it. Its simply another program taxpayers finance and politicans manage.