[yummyfajitas]

Index it to inflation rather than wages. Choose a fixed basket of goods, compute their price in the future, adjust SS accordingly.

I.e., cause SS to provide a fixed standard of living, rather than an increasing one. Seniors will always live as well in the future as they do today, they just won't live as well as future wage earners.

[anonymoushn]

Clamping the rate of growth of the spending to the rate of growth of the revenue is not a fix if the spending is already much higher than the revenue.

[yummyfajitas]

If wages grow faster than inflation [1], then the revenue will rise faster than spending.

[1] Note that I chose a true inflation measure rather than chained CPI.

[malyk]

Also remove the cap at which you no longer collect SS from payrolls. It's something around $105,000. You don't get taxed for SS on any income past that amount. The SS tax structure is one of the most regressive taxes we have.