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As it is now, people only pay Social Security taxes up to $106,800 of their income. So, someone making $30,000 pays the FICA tax on 100% of their income, whereas a millionaire, only pays FICA on about 9 percent of income. Means testing means you have a certain income, say $250,000, and you start getting less. It has nothing to do with what figure you actually contribute.
Social Security is different. They payout is based on what you contributed, a formula. I.e. you don't get less of a benefit just because you make more.
Raising the CAP providies more revenue for the system to pay out current benefits.
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