Why would college students save for retirement when they can barely afford tuition? We need money now for an education to make enough later, then save for retirement, but since our government assumes we are too simple-minded to do so, you have been taxed for retirement since your first job. It is called Social Security, and it is going bankrupt.

Ironically, a new plan to save Social Security would also put that tax back in your hands. 7.5 percent of your paycheck goes to retirees. Retirees checks are dependent on current workers. Retirees get back what they put in within five to 10 years, but keep collecting. Simultaneously, the number of American retirees is skyrocketing.

Without change, the trust fund will go bankrupt. The media tells us we have 30 years. This assumes the current rate of American economic growth will continue indefinitely. You do not have to be an economist to realize this is optimistic beyond reason. The Social Security Agency’s expectancy is 20 years. Considering Social Security comprises 25 percent of the national budget, it is not unrealistic to project government bankruptcy and depression if this is allowed to happen.

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Politicians love solutions such as means-testing (the higher a retiree’s interest income, the lower the monthly payment). These measures would buy the system an additional few years of life, not save it.

What does this mean to 20-somethings? A 20-year-old has easily paid more than $1,000 into the trust fund already, which might have been saved for college. You will not see one cent upon retirement under the current system as it would be long bankrupt.

But what about the soon-to-be-retiring and retired generations? If you are around 55, rest assured that Social Security will last through your lifetime. However, by the time you are 80, your grandchildren will be in a situation where the government would require one-half their income to pay your generation’s Social Security benefits. Yes, really.

How can the system be changed without jeopardizing the elderly or making life impossible for working Americans? Rep. John Porter, R-Ill., proposed a bill which privatizes Social Security as other nations have done. Under this bill, workers would choose either to stay with the current system, or invest their 7.5 percent in stocks or bonds. Potential returns from private investments are far higher than from Social Security, and dividends go straight to your pocket. Stocks are more risky, but Uncle Sam would guarantee a minimum return.

The bill provides for a 10-year transitional period. Those older than 55 would be managed under the current system and those younger would have the investment option, with a 10-year, 2-percent deduction.

The result? Current retirees lose nothing, all working generations enjoy increased returns and control of your money is taken out of the government’s hands and put back into yours. Opponents to change love to use scare tactics, but as the creator of Social Security President Franklin Roosevelt said, All we have to fear is fear itself.