Is the fact that private investment schemes are scams the main justification for social security?

Question

Social security in the long term is just taking money and giving it back later. I am trying to understand the point. The only justification I see is if private investment managers are very bad and produce a worse risk return ratio than social security. Is this accurate? >Social Security collects money now and pays it out now to different people. Is there any way to prove that? Because it sounds nonsensical.

Answer 1

Though things have moved on, Peter Drucker addresses this in The Unseen Revolution: How Pension Fund Socialism Came to America.. Al Gore wanted to take Social Security funds and put them in the stock market !!

that was not well received.

No, the mainspring of social welfare is a stable or expanding economy and enough workers that the bottom of the pyramid to keep it alive but we are experiencing population decline and economic decline and this spells the collapse of the whole system.

This video will start you thinking about this https://www.hoover.org/research/de-population-bomb