As part of a comprehensive plan because there is no single "silver bullet" yes.
But why should the cap even exist?
So what, are we going to flood the market with cheap, senior citizen labor to drive down wages since by your own argument, they're apparently worth less? Leave them on unemployment when they can't find jobs? They should have thought of this 40 years ago while they were working and the concept that SS/Medicare would be bankrupted in their lifetimes wasn't a thing?
Those senior citizens just need to pull themselves up by their shoehorns and walkers, I tells ya!