Hell no! Big daddy government will end up wasting all that money too. I'm more than halfway to receiving what little I expect to get and I think the age should be raised from 65 to at least 67. People should be able to opt out as well, or back in if they so choose. Take a look at your pay stub and tell me you couldn't invest it in a better place and have a far better quality of life at retirement. Those who opt out could still pay something like 25% of what they do now. Maybe you could also have the SS tax rate based on your prospective retirement age where you pay 10-20% less every 5 years you defer your SS payments.