Guaranocracy
My proposed development of social security into guaranocracy should satisfy Republicans, Democrats, businessmen, even philosophers, artists, etc.
Choose whatever lifetime, but trade able contract you or practically, before conception, your parents can contract with a guarantor for your minimum just lifetime and legacy income, practical health, just value of monitored purchases, just education. Your acceptable guarantor must provide an adequate list of individual, jointly employable judges. Acceptable judge's income should be a percent of the product of the average profit from both sides, resulting from their decision.

This is practical because current government social security provides minimal
income and health care for elderly and disabled citizens for only about 8% of their lifetime income.
But it allows no individual choice of actual lifetime competitive income cost and minimum guaranteed income, health or education.

For today, if we had a large common practice of world wide guarantors there would be a great variety to choose from:
Guarantors who may specialize in guaranteeing the choices of people of certain faiths, certain ethnics, certain intellectual or artistic skills, etc. Unfortunately, the current system is a monopolistic, unimaginative 'one size fits all' and is changed only in response to a dramatic human disaster that can get TV to better sell some old branded product.
The current 'system' requires most very visionary inventors or artists to spend their energy on menial jobs. We enjoy their efforts today only because some were lucky enough to have helpful friends. There are too many whose wonderful and beautiful works are frustrated.by undeveloped social systems.
A Mozart or Van Gogh could have convinced some guarantor, of the ultimate value of their work and signed over future royalties to cover living expenses, education and legacy donations to art schools or research. The current social security system's 'one size fits all' provides no choice like that. There are practical limits, it should be very rare that an individual could have his parents contract for him, before conception, to justly obtain much than the average lifetime income for the skill.level. Great artists would not have to grovel before friends for a pittence. Good guarantors would make sure they had the bes health care and presentation of their work. No individuals, only corporations, in such a system would be able to properly finance for life a few favorites.
The 'just income' I mentioned would be the average obtained by free, honest, nameless competition with like skill. Today, most artists or politicians are selected by name not attitudes, style or guaranteed effective skill.
Likewise control of industry should not be for sale to highest bidder, but controlled only by those who have contracted the highest guarantee for their value to customers. Investors are protected by their own contracted guarantor. But only buying things that one can get a guarantee of benefits completely removes monopoly control of owned things. Because the guarantor of a resale price gets no benefit for resale at a higher than guaranteed price. They only loose if the highest bidder is lower than the guarantee.
Most consistently, only the just price is guaranteed.

For those who value competition and business ownership, consider the chance of workers in even a production line to have a practical choice to purchase their work station at the guaranteed resale price competitively set at original purchase and choose from a large set of guarantors their individually chosen boss as result of mutually accepted guarantee contract conditions with mutually accepted and mutually rewarded judges.
For those who worry about the efficiency of a large production process, consider the guarantors are responsible for all loses to others from the parts they guarantee. Practical guarantors will have to well plan together for the maximum benefit to all. And those who are inadequate can easily be replaced by those who can purchase their trade able contract.
For even those of a strong particular religious faith, consider the motivation of the worker whose faith and prayer are an appreciated part of their contract.mutually accepted by an equally religious guarantor.
For those who strongly care for the worker's protection, consider they have a lifetime minimum health care and lifetime minimum income guarantee and mutually accepted judges of its justice.
For those who worry about an injured worker's family and eternal goals, consider, the worker has individually contracted a minimum lifetime income and legacy income for the remaining family or foundations or church.