You didn't read the thread.
1. No, it doesn't do away with SS.
2. Nor does it leave Americans in a vulnerable position due to the mandated minimum benefits and government guarantee
3. I ran the numbers for every single post-war cohort. Had the worst-performing cohort retired in the middle of the lowest point of the 2008/2009 market meltdown..... they still would have done better than they would have under Social (in)Security.
There are many ways to describe that. "Wiser", I don't think, is one of them. SS as it is currently structured is drawing on the General Fund, helping to drive us towards bankruptcy, and inevitably going to lead to us telling low-income seniors to suck it up and take benefit cuts.
Because I am not. I am for fixing SS from it's current, deeply flawed pay-go structure that gives very little, taking from those who need it the most to give to those who need it the least.