1. I agree with privatization of all but a portion that is required for subsistance type payments.(i.e. welfare). After all, SS is actually welfare because retirement is an optional, voluntary activity whereas being unable to work (by being too old to work) is not optional or voluntary but is being eligible for welfare. Subsistence payments (welfare) are much less than present SS payments. Therefore, the additional SS contributions above those required for the welfare portion should be privatized so that people can invest them as they would like for their retirement.
2. Considering that welfare is intended to supply food, clothing, and shelter and nothing else and not necessarily in the custom to which you may have been accustomed but rather at a subsistence level, the choice between these doesn't have to be made.
3. Because of the magnitude of SS, private charities will never be able to take over any significant portion of SS. Most people pay more in SS taxes than in income taxes and they can not be expected to pay any where as much to charities on a voluntary basis.
