They will be more financially subtle about it than raise FICA/OASDI and Medicare taxes across the board. That would affect their lower income dregs to whom they pander so much.
Rather, they will drastically increase the bite for those in upper income brackets and go full boat progressive on the chart just like they do for Federal Income tax. Once a threshold his reached, the rate is doubled. So instead of 6.2% for FICA OASDI and 1.45% for Medicare (no income limit threshold), they’ll double everything above the median income level or something like that.
Technically, these aren’t taxes, but they treat the money as though they are. They are ‘insurance contributions’ - thus the name Federal Insurance Contributions Act, FICA.
Regardless, the money collected will never see the inside of that effing “lock box” they keep yapping about.
Of course not. If that money, over the years, had been invested smartly, it would have grown significantly. Instead, it goes into the same government ‘pot’ that the rest of it does, and gets used just as wastefully. To be honest, given how much our national debt is, every government program is insolvent. To say that anything is solvent is a bit like saying that you’ve regularly paid your mortgage and are in good standing, while your bank account is overdrawn, you have no savings, your credit cards are maxed out, and you spend more every month than you take in.