Earlier quoted context omitted.
Ahem. Social security is not self-funded, it's funded by current payroll tax receipts, plus a 2.6 trillion trust fund, plus about 5 trillion in debt owed to it by the rest of the government.
Right, SS is already in a risky position, most millenials question if it'll even be standing when it comes to their turn (especially if population drops since they're having less children who will pay in), what they're suggesting would make it worse.
People trying to scare people about SS talk about the trust fund depleting, but the trust fund is simply a bonus that was created to account for the fact that when the baby boomers started retiring, their numbers would be much greater than the numbers of working people to maintain a healthy SS system. So they set aside some additional money so the large number of baby boomers, who in their prime had to pay for a relatively smaller number of retirees, were paying some money towards their own retirement and so wouldn’t place too much of a burden when they retired.