Reply #29: Technically FICA goes to SS (OASDI), Unemployment ins, and medicare part A [View All]

[Sirveri]

That's what it was designed to do specifically. I'm also pretty sure they're buying normal T-bills with the extra funding. You also don't want to have continual FICA fluctuations because that would create instability in peoples personal finance plans, and it would also make it difficult to store a significant surplus for times when significant numbers of people retire. What DOES need to happen is the cap needs to be floated to cover 90+% of all existing incomes and then be tied to income growth rates of the top 1% instead of CPI. That will permanently lock it into position. I'd also like to see another vesting tier added but that's more of a personal tweak.