The present value of social security can only be considered $0 as Social Security is under the considerable risk that Congress can defund it at any time it chooses.
Unless either you estimate the probability of Social Security being completely defunded by Congress before you get a single dollar out of it to be equal to exactly 100%, or you believe that with positive probability the Congress will start charging you for being alive past the retirement age, expected present value of Social Securtiy would have to be positive. So, which of the two above-mentioned options reflects your beliefs?
The dollars that you get out of it, in the event you get them, have to be netted out against the dollars you put into it. If you were born in 1980 or later that number is already effectively negative for many folks.
In any case, the more likely scenario is that some members of Congress seek to partially or fully defund the program for successful responsible folks who saved money and continue cut checks to the irresponsible freeloaders.
