Current payroll cap on FICA deductions is $113000 which means most CEO's are finished paying for their SS contributions by the 1st or 2nd week in January while 98% of working Americans will continue to pay for 50 more weeks. If SS was just a retirement fund this would make sense, but more than half of SS's expenditures go to aid for dependent children and widows and the disabled. These social programs benefit all Americans by improving the overall quality of life in our society and should be supported by all from the lowest salary earners up to the highest.
In fact we should apply FICA`tax to every dollar of earned income including capital gains. However, raising the payroll cap to $1 million would be a first step in permanently solving Social Security funding.