I will never understand how people accept that these wealthy people paid into it over an entire career at the point of the gun, and likely paid much much more into it than average. Now their benefits are cut. Class warfare is so easy. People who are forced to pay in should get the benefits promised no matter what their income.
Am I mistaken, or was SS withheld up to a maximum total earnings limit per year? I’m pretty sure that’s the case, and would tend to favor, not discriminate against the wealthy.
Actually, the benefit formula has ALWAYS been skewed to benefit low income, and screw the high income taxpayers.
Look up how the Primary Insurance Amount (PIA) is calculated, and you'll see how.