Agreed.
However, if there is say X amount of years left, funds paid in previously could be used to match the maximum allowable 401K contribution. The fund would have to be set up to prevent removing any money until retirement age, obviously…
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Lots of moving parts!
Yes, but doable 
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There’s no way around it. The people paying in now are supporting those who are collecting. It wouldn’t be that way, except Congress raided the fund years ago and never paid back what they “borrowed.”
SS funds can be used when there is a surplus of funds. By law, the U.S. Treasury is required to take the surplus and, in exchange, issue interest-accruing bonds to the Social Security trust funds. In 1983 Reagan increased FICA withholding’s and as a result the SS trust fund began to show a surplus of funds. Those funds continued to grow over the years and that surplus was taken and replaced with interest-accruing bonds. The surplus dumps into the general fund and can be used at the discretion of Congress.
The Democrats have proposed this increase in FICA withholding’s knowing it will generate a surplus of funds that in-turn will automatically be moved from the SS trust fund into the general fund.
Sure it would, but the sad reality there is no money, its simply an IOU! Meanwhile the FED debt looms very large in this debate and we are currently on a unsustainable path with our entitlement spending! What is that saying about socialism? Other people’s money is good until you run out of it? The sequester issue that was designed to address our debt that is coming up September is going to be powder keg for Democrats! They don’t have the answers, but I am sure they will tell you that they do with their NEW GREEN DEAL!