To fix this issue there are a number of possible solution...of which some combination likely makes the most sense...
ALL of which past Democratic leaders have absolutely declared they would *never* do (well, except #3 but I'll get to that)
Here are the options:
1. Increase the Social Security tax on wages.
Which the Democrats will NEVER agree to, since it is the only tax most of the poor ever pay.
2. Increase the amount of earned income that Social Security tax is applied. Currently it is around $130,000(might be off a little there)
Which is often proposed - but again, the Democrats have insisted will not be necessary. I think they're lying through their teeth, but there it is..
The current issue is to erase the cap altogether.
3. Stop paying Social Security retirement benefits to individuals who have sufficient retirement income (Understand that Social Security is a government welfare program...it is meant as a safety net...Donald Trump, Bill Gates and those who have been successful do not need Social Security retirement benefits any more than they need Food Stamps)
And here's the problem - how do you govern such a system, and dear God, just how much do you think you can squeeze out of these people?
How many people START out rich? Or end up poor? How do you monitor that? Do benefits adjust each year based on income?
You can't necessarily govern such a system, because you don't know from day to day or year to year just who will or won't be qualified.
Sure, you can determine who is on the far edge of being qualified, but if you're going to decide a cut-off, then you're going to be fighting a battle continuously over who qualifies ONE year, but doesn't qualify the next year, but again qualifies the following year - at least among the very many who WILL BE ALONG your cutoff.
It's EASY to see that Bill Gates doesn't need it, but what about the guy retiring at an income of 200k? 100k? Maybe he PLANNED his retirement for 50 years without sufficient funding because he banked on the government keeping its promise. You can't break your promise - well, unless you do anyway.
4. Increase the Social Security claiming ages.
The easiest change to make - but still controversial and the Democrats have gone on record as not wanting it to change *much*. Because people live longer, but the poor don't live a LOT longer. So you're screwing THEM to keep it up for everyone else.
And it is STILL just a band-aid. Sooner or later, the problem must be dealt with.
Here's another - decrease benefits - something Democratic leadership has absolutely said they won't do - until they're grilled on it later when they suggest they might do it anyway.