General Discussion

The Greenspan solution relies upon median income and average income staying closer together. Once they drift apart (the rich get richer) then the contributions from the existing cap fall short. This shortfall accelerates as income inequality accelerates. They already raised the retirement age.

The short-term solution is raising the cap. You don't even need to eliminate the cap. Even the unicorn version of increasing benefits would not require elimination of the cap. The long-term solution for senior inflation involves single-payer healthcare to significantly lower the cost of being a senior. Making Americans healthier would be a cost-saving side benefit of taking the profit motive out of our healthcare system.