Suggestions for changing Social Security are usually to reduce benefit payments, to make people work longer to receive benefits or to increase the tax rate.
All are a kick in the stomach to those the system was designed to serve.
Two huge things could be done which don’t require a rate increase, nor a benefit decrease, nor extending retirement age. Both would increase the base, i.e., the amount of income that gets taxed.
We could easily change the yearly income maximum from the current $118,500 to twice that, or have no limit at all.
This would not hurt anyone with a lower wage income. It might raise so much money that we could afford to have a minimum wage for taxation, offering a benefit every paycheck for the working class struggling to afford food and shelter.
More controversial, we could also apply the tax not only to “sweat of the brow” labor (wages, salary and tips) but extend it to include dividends and/or capital gain income, perhaps at a different rate.
The latter change would decrease some investment, and the previous change would potentially decrease incentive to earn very high incomes. Both would add tax, without matching benefits, for those with high incomes, but there are always trade-offs.