IMHO, assuming it will be done, they should decrease 30% from the richest, and redistribute it to the poorest on SS, afterall, programs like food stamps are income based (and in need of an overhaul).
One thing I think our President should try to push through is an increase in minimum wage, it's long overdue and I think it was part of his campaign platform if I remember correctly.
Overall though, SS benefits should actually be increased across the board, it's ridiculous, people spend their whole lives slaving for employers, only to hit a financial brick wall when they become elderly. It is their money they put into SS, so it is not like a handout. Even so, there is always a portion of people who for whatever reason may not have been able to put as much or so much into SS, and should at least receive a poor but livable income, key word is livable which means keeping up with inflation, something minimum wage is woefully short of.