With an aging population, Congress is threatening to cut the Social Security safety net. Would it not be more prudent to increase the funds coming into the Social Security System? Just as Social Security recipients occasionally get cost of living adjustments, Congress needs to make cost of giving adjustments. In other words, they should raise the cap.
As Congress raised taxes only on those making $400,000 and above, it would seem fair that people could pay FICA on earnings up to $400,000. As a teacher, I pay FICA on every dollar I earn. Those who earn ten times as much as many citizens in this country could certainly pay FICA on earnings over $110,000.