Alarmists like Wisconsin Congressman Paul Ryan inaccurately claim that the Social Security System is on the verge of bankruptcy. This is patently untrue.
The Social Security System is currently running a surplus and will continue to do so for several years.
As New York Times columnist Bob Herbert writes: ...there is no Social Security crisis. There is a foreseeable problem with the program’s long-term financing, but it can be fixed with changes that do no harm to its elderly beneficiaries. One obvious step would be to raise the cap on payroll taxes (currently $106,000) so that wealthy earners shoulder a fairer share of the burden."
Herbert's column is linked here.