The Privatization of Social Security

The privatization of Social Security would be exceedingly simple, if we just go and do it. All payments into the system stop as of December 31, 2007. Whatever you have paid into it by that time, plus interest accrued on those funds while they were held by the government, are paid out to you upon retirement.
Haven’t paid any in yet? Then you never will, and you never will get any out.
What if I am 50, and want the full benefits of Social Security, OASDI, instead of only what I have paid in? Then, comes in option two: the government writes you a check equal to the amount you have paid into the system over your life, adjusted for inflation. Now, you can invest that money into whatever you like, let it earn you interest, and retire on that.
If you’ve paid in for the last 35 or so years, that should be quite a bit.
So in the end, everything is balance d out. Take what is in there, and send it back to those who have given it in the first place. If that person is deceased, then it goes to the spouse. If the spouse is deceased, then it goes to the general fund for use wherever Congress appropriates it.
Problem solved. People use their own money. If they are wise, and invest it, and save it, then they will have a comfortable retirement. If they are foolish, and do not, then it is not my fault nor problem when they have nothing to retire on.
When people spend their own money, they are responsible. When people spend other people's money, they are not. Give me my own money, and I'll spend it how I want.