Social Security is an absolutely successful program paid for by workers and administered by the government. How so? Let’s count the ways:

Universality: Social Security covers nearly every worker in the country — 96 percent of those now working. Which is critical since about half of all workers don’t get a pension.

Portability: Unlike private pensions, no matter where you work your Social Security credits always go with you.

Purchasing power: When wages go up, your Social Security benefit goes up, too. That way the purchasing power of retirees does not lag behind that of active workers.

Disability protection: Even before you retire Social Security will provide income if you become unable to work. If you die young, Social Security provides benefits for your spouse and children.

Reliability: People have lost fortunes in the stock market, but Social Security has never failed to pay rightful benefits.

Social safety net: Social Security replaces about 40 percent of average pre-retirement income at normal retirement age. About 10 percent of seniors live in poverty; without Social Security that would be more than 50 percent.

Low administrative cost: Less than 1 cent of every dollar collected goes to Social Security administration. For private investment accounts, about 1.5 percent of the account goes to investment firms for administration.