Just my opinion but I am in favor of at least partial privatization. Here is why.
My father passed away this past August(Alzheimers and yes it sucks to see someone you love go through that). 2 1/2 months in a hospice at around $100-$150 a day(mom's portion,Medicare took care of the other half).The funeral cost $13,500.With all the other expenses of this ordeal,mom had to pay out over $26,000 this past year for dads medical expenses.
She got a check from Social Security for $255(death benefit).
In Galveston in the early 80's they opted out of SS through a loophole that has since been closed. A womans husband died at 38 years old in a car accident. Within days (according to the article i read) she had a check for $126,000(death benefit). She used this to pay off funeral expenses and go back to school so she could provide for their son.
My father was 85 and worked his entire life,even after he retired.
Which one seems to be the better deal?
Easy answer, at least from my point of view.