Fixing Social Security...

The more I hear about Social Security needing to be reformed the more I agree something has to be done. I am leaning towards the idea of Personal Retirement Accounts but am leery of adding another layer to the already bloated federal bureaucracy. Which stock, bonds, and funds will be available to invest in? Unfortunately it will probably be to the companies with the best lobbyists.
I wouldn’t mind seeing the maximum limit increased some but I don’t know what sort of impact that will have on companies that pay half the social security tax for their employees. Right now it is set at $90,000. If it were raised to $125,000 it would mean $4900 more dollars to the system. The employer would pay half of this. I know some Democrats want to see the minimum go away entirely and they also want means testing. I wonder how well that would go over telling the people that are paying the most they will never see a dime in Social Security.
Social Security has worked well for generations of Americans, but 21st century demographics doom it to insolvency. What other organization would still be looking at a business plan that hasn’t changed in over 60 years and still be saying that no tweaking is needed other than the Federal government? As lawmakers work out the details of Social Security reform, they must bring future guaranteed benefits in line with what today’s and tomorrow’s workers can afford to pay. Lets hope we all can retire with some decent social security benefits…