TJ, I don't understand the proposal completely, but if it prevents the government from spending the contributions as they do now, and forces them to be invested somewhere instead, it could be a good thing. If the government had done that with at least some of the money contributed to begin with we wouldn't be in this mess.
The danger, of course, is that the money will be lost in whatever it is invested in which brings us back to Square One (SS was created because people were not responsible for providing for their own retirements) and all the old people will end up on welfare, courtesy of our government anyway.
Newly