It does not matter who pays into it or who pays the most, payroll deductions are capped at $142,800. Just listen to Mitch McConnell he constantly droned on about how the SS entitlement program is a drain on the budget. (see links at bottom) The SS Trust Fund is set to run out of funds 2039. SS is a pay as you go program. Today's work force pay 13.4 percent (6.2% from your paycheck, 6.2% from your employer) of their earning into SS.. Social Security uses those funds to pay current retirees.
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Most years since the programs inception payroll taxes have exceeded retiree payouts. Those excess funds go into the Trust Fund. Starting in 2020 payroll taxes have begun to fall short of retiree benefits so the SS trust fund began to shrink. It is expected run dry in 2039.
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Since it's a pay as you go program, workers don't have a balance in there SS account, only the promise of future benefits--entitlements.
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Republicans (conservatives) want to privatize the program and make everyone responsible for their own 401k type plan.
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There are many ways to fix this important program. The simplest way is to remove the wage limit for SS contributions.
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The problem is neither party is doing anything to fix the problem even though the cash shortfall was predicted years ago, it was just hurried along by COVID.
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I think it's an important program that all Americans should be able to count on, but neither party is making an effort to fix it. The the Republicans would surely like to do away with it.
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https://www.latimes.com/business/hiltzik/la-fi-hiltzik-mcconnell-social-security-20181019-story.html
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https://www.dscc.org/news/cheat-sheet-mcconnells-record-of-risking-medicare-and-social-security/