While I also think the wage cap should be lifted, it won’t have as big an effect as you expect. Remember ss is somewhat progressive (higher income get less percentage return), ss benefits on the high end are subject to income tax, and that benefits are also capped to match the wage cap. High earners are putting in more for less getting back, at least to some extent

If you raise the wage cap, there’s an argument the benefits should increase for higher earners as well. Remember this is not welfare, it’s meant to be a social insurance program, which has implications