Many view Social Security as an investment and therefore look for a competitive rate of return. Others look at Social Security as insurance and are glad to receive whatever they can.  My view is that it is insurance and should be treated as such (FICA = Federal Insurance Contribution Act).

We buy auto, home, and health insurance and do not receive a dime unless we experience a loss. So why should wealthy Americans feel entitled to receive payments from Social Security?  How do we view this entitlement fairly? When Social Security benefits are taxed, it penalizes middle-class and wealthy Americans, which creates animosity and further confuses the debate. 

The solution is to make 'all' wages subject to social security taxes (withholding) and to deny benefits to those whose adjusted gross incomes exceed $500,000 annually.  Of course the wealthy among us has the strongest lobbyists so achieving the above will be difficult.  But as Americans we need to take sides on the question of whether we want the elderly and the disabled among us to be properly cared for, or whether we want to continue the arguments over tax policy and return on investment.