Require the Social Security Administration to evaluate indexing needed annual increases in the Old Age, Survivors, and Disability Insurance (OASDI) (a.k.a. Social Security) payroll tax for both the employee and the employer to the Consumer Price Index (CPI-W). For example:
If the CPI-W drops or rises by less than 1%, no increase to OASDI payments
If the CPI-W rises by 1% to 1.99% increase OASDI payments by 0.05%
If the CPI-W rises by 2% to 2.99% increase OASDI payments by 0.1%
For each 1% increase in the Consumer Price Index (CPI-W) beyond 2.99% increase the OASDI payments by an additional 0.05%
Continue annual increases until not needed to balance OASDI revenues and expenditures. Revenues should not include interest on the OASDI Trust Fund debt, Trust Fund debt should be waived.