General Discussion
In reply to the discussion: I'm 54 and I could SCREAM when I hear "anyone over 55 doesn't need to worry about Social Security" [View all]TrollBuster9090
(6,136 posts)"They'll call it welfare."
If they thought that was a smart move they would have done it long ago, given that people at the very low end of the income scale already get more out of it than they put in.
I don't think that would happen. But to make sure it doesn't, the easiest thing to do is to remove the cap, and then have a RANGE of benefits that can be paid out, where higher income earners DO get more, but just not in DIRECT proportion to what they put in. That's already what happens for the low incomes. ie-a multimillionaire contributor might get triple what a middle class contributor gets while having paid in much more than three times what the middle class contributor put in.
We could also point out that NONE of the federal subsidy programs work that way (get out only in proportion to what you put in) BEGINNING with FARM SUBSIDIES and Federal flood insurance.