Sorry, but I disagree. The rich paid into the system. They are entitled to the benefit. I would much prefer that the "cap" on the SS deduction be raised.
Do they have a binding annuity contract with a private annuity company?
No, they don’t. And they didn’t “pay into” anything. They paid an additional income tax, which took a two-step process to end up in the general treasury kitty, where it’s already been spent.
And they have a welfare benefit that will be paid to them simply because they hit the magic retirement age.
Geez. You get your panties all in a twist demanding that we cut a subsidy for poor people on health insurance, but you want to keep giving welfare benefits to rich people because you bought Roosevelt’s socialist lies that social security was an investment program in which all supposedly made an investment t that will be returned to them with interest when they retire?
Good God. Use the brains He gave you instead of continuing to vomit up the socialist lies of Roosevelt.