That's your assumption. If people knew they had to provide for their retirement I think they do invest/save. Either way more would than do now, which would be an overall savings to the taxpayer because 100% of people get elderly welfare now....The part you are not taking into account... just sayin...
Let's say you end SS forced savings January 2023.
Cool we all start keeping our own money. Yay!
Fast forward 20 years. Well...what do you know?.. big surprise!.. The VAST majority of Americans did not save that money. They spent it all on new cars, bigger houses etc. etc.
And now they are all screwed. Millions of people.
Millions of people makes a nice fat voting block! OOooOOoo!! And what party do you think will appease that big fat voting block?? You really think the government won't bail them out?? And whose money do you think is going to bail them out?