>>>>>, the employer puts in their 12-14% match and the total amount is deposited in the Employee's account.
>
>If the employer match were 12-14%, social security would be swimming in surplus and

So, let the ones that want SS to stay in- just let the ones that want out get out . o the money
Maybe. The first thing that would happen would be for the politicians to use the surplus to buy votes( increase benefits) and let the 2040 politicians figure out what happened to the money.
Eliminating fraud would save about $3 billion a year. And since the SS( lock box or not) is now part of the general fund maybe you wouldn't have to spend the $5.6 bailing out pension plans.

>a. wages would be 5-9% lower or

In case you haven't noticed they have been pretty good at remaining flat to the last 20 years without any help.

>b. many small businesses would not exist
Changing the tax code so they would be on a level field with the large corps that spend millions on lobbyist and tax lawyers might help.