Is there a reason the government is so opposed to letting individuals control their own Social Security funds? I know there are a number of people out there who are, from a financial perspective, less than talented. I'm not proposing that we privatize Social Security (although I'm not opposed to the idea, either), and force everyone to decide what to do with their accounts. I would just like to have the option of controlling my own destiny, so to speak. I strongly believe I could beat the rate of return the government offers on Social Security investments. And if for some reason I can't match that rate, I'm willing to deal with those consequences.
I don't have any facts to back this up, but if I had to guess, I'd say the primary reason we aren't allowed to control the funds in our Social Security accounts is because those funds aren't really there. The money has been spent already, and all that's really sitting in our Social Security accounts is a big fat IOU. Does that thought scare anyone?