Fact is, there are people collecting Social Security in the states that never paid a single dime into it, and I am not speaking of spouses, etc. I know folks that came to America who were age 65 or higher and started collecting Social Security from the get go.
For USA citizens, you would normally be expected to work 40 quarters to collect your own Social Security benefit.
And then there are the variations that have been mentioned in this thread. And why would we expect anyone in America to know what they are talking about? We are a nation of people that are largely clueless. Recently, I heard it mentioned that 80% of Americans would not be able to point to a map and show where our national capitol is located. Why would they know Social Security policies? They don't.
I turn 66 this year, and will be eligible for the full benefit, but I also know I can collect an additional $1,000 per month by waiting four more years and collect at age 70. Collect at 66 or 70...I have no idea what is better. When the time comes, I will run the numbers and make a business decision for me. Off the top of my head, I am guessing I would have to live and collect until I am about 84 to properly break even, so I am leaning to collecting at 66. Of course, if I have a lucrative income come age 66, I think it might be beneficial for me to wait, for one ends up giving up the Social Security benefit dramatically if you earn above a certain level, something like one dollar for every two earned above a certain level....roughly.
I fully support clamping down on abuse in all federal programs. Trump has committed to not change the basic Social Security, and I trust he will stick to that mindset.
I also believe we need to transition to individual accounts, and if it means introducing it by adding X percent to the Social Security Tax, I would support that, i.e. the following:
Year 1-3 1%
4-6 2%
7-9 3%
10-12 4%
13-15 5%
16-18 6%
Note: these monies would go ONLY into an account in your name, with the ability to chose what accounts it would go into, along the lines of a 401k, but not be limited to just those funds offered by an employer, but open to all funds, stock that are registered with the exchanges, etc.
For those worried about excess risk, set limits on risk, i.e. limiting the portfolio risk level based on age, etc.
To continue with ONLY a program as currently designed is beyond stupid. So, let's get creative and design a system that ends the theft by Congress to spend the funds on whatever they want. We can still offer the conventional program for those fearful to manage their own monies.