This number changes almost yearly and is nothing but a scare tactic for the libs to raise taxes.
That said I thiunk the ceiling for contributions ought to be lifted so workers pay on all the earn from their employment. The maximum payment should also be increased so high earners are not penalized.
It is also time for a private self funded retirement plan for those who want to opt out of SS entirely.
Wouldn't that entitle the higher paid workers to increased benefits? Or are you in favor of making the program even more progressive?
I would support across the board benefit cuts until the program vanishes. A two percent cut from present benefit amounts would eliminate Social Security in fifty years. Such a time period would allow people time to adjust. Payments into the system would decrease as soon as the program is at break-even.
There is a ceiling on "contributions" because there is a ceiling on benefits. After that is purely wealth redistribution.