12.4% of your daily income goes into what is becoming more and more of a failure. And if that fact doesn't make you want to pull your hair out... If you make slightly over $31,000 dollars a year and were to place that same percentage in a mutual fund, you would retire a millionaire. Personal Responsibility = Freedom. We must responsibly implement a system of private accounts while addressing our current liabilities. Again, our promises our only as good as our ability to honor them and ignoring the growing insolvency of this program will bankrupt it.
There are those who may ask, "What about those who seem unable to save or invest intelligently" ? In a libertarian society, you may choose whether to opt in or out of programs such as these. In examples like this, the extra wealth generated by the private accounts could help to fund private charity for those who choose the government program.