Nathan lays it out:
The other idea that White House is promoting is cutting benefits more for middle income retirees than for low-income workers, turning social security more into a welfare system for the elderly than a broad-based retirement programIt's sad we have been brought to a point where we think so little of our "leaders" but they haven't done 1 single thing to convince us we're wrong. Not one.
Once social security is significant only for low-income workers, it will be a lot easier propose cutting it even more. Look at Medicaid spending this year. Bush proposed signficiant cuts in Medicaid, since it is perceived as "welfare" for the poor, but didn't propose any signficant reductions in Medicare because it has broad-based support.
This is the holy grail of conservatives. Change social security from a universal system into one where only the very poor depend on it for their retirement. Then kill it.