Increasing the cap would ensure that wealthy workers pay "their fair share," said Christian Weller, an economist at the University of Massachusetts, Boston.And now they will! And since the wealthy like Bill Gates and Paris Hilton tend to live longer, they'll be collecting fat paychecks well into their nineties.
Just how much that fair share should be is hard to say. Retirees' Social Security benefits are calculated based on how much they've paid into the system, not their total earnings over their careers. While it might seem odd that the wealthy don't pay taxes on their earnings above a certain amount each year, it's important to keep in mind that they also don't receive benefits on those earnings later on.
Oh, but wait: since Social Security is a universal benefit - a kind of "social insurance" - we can't just take those "earned" benefits away. So belly up to the bar, Donald Trump. Your government check with your returned "fair share" is on the way.