Ultimately two things will be done.
1) The cap on FICA taxes will be lifted and that tax will be paid on every penny of income.
2) A Tobin tax on Wall Street transactions will be imposed and that money put into SS.
Both will be wildly popular with most of the population.
Sorry to break that to you, guys.
Even popping the cap will only help some, because they will have to increase those benefits to higher earners as well.
The FICA tax is flat, but the benefits are very progressive. Lower income people get a much better return on their FICA “contributions” than higher income people do.
It doesn't make sense to cap what's paid into Social Security for higher-income earners. They're benefitting from the system that's out of balance for employee income. They should pay some of that back into the system so lower-income victims of the system can have a survival-level Social Security income in retirement.
I'm one of those who is very cynical. The feds print or digitize what they call money for everything else. They sure as *ell can print the stuff for Seniors who've worked to get this pension.
Add to that an economic factor. A very good way to boost local economies is to give Seniors a paycheck that's ample to meet their needs and then some. A lot of that money goes into the local economy, where there's a multiplier effect from its impact.
Wildly popular but economically poisonous. Why stop there?