You’re ignoring one BIG fact: half the people in this country are live-for-today types who would arrive at retirement penniless if you let them have complete control of their money. And then we’d end up supporting them - with libs insisting responsible savers build luxury-like subsidized retirement homes.It's still cheaper to buy your own disability insurance AND private disability insurance pays better benefits.
So let people control all of the 12.4% of their lifetime income and they'll be better off
We still need forced saving. Let the government handle their half, but let us choose from among several ETFs and mutual funds for our half. (As a longtime business owner, I had to pay both halves, so I would be able to control both halves.)
This would be accomplished through payroll deduction for employees, and via tax reporting statements for business owners showing they made the deposits.