Warren Buffett has spent decades championing the importance of Social Security benefits. At that point, the Trustees say that Social Security benefits would be reduced by 23%. Buffett's proposals to get Social Security back on solid groundBuffett has been consistent about recommending moderate changes to the program, including:Remove the taxable earnings capAs of 2025, Social Security taxes only apply to incomes up to $176,100. For example, a person who earns $400,000 annually only pays Social Security taxes on the first $176,100. This increase in life expectancy means more years in retirement, and more Social Security benefits paid out.