This is part of Biden's Unrealized Capital Gains, strategy. I'm an hourly, and can not determine how much I earn except by working OT or not. I was expecting the clawback for my 22,000 Over cap (I owe 11K), but I wasn't expecting them to pro-rate this year and suspend for additional months.
I can quit working now and be around the cap, which would stop them automatically suspending me for this year, but still owe for last year. I can liquidate Assets and pay them for one or both years, but they don't charge interest so...
WTAF, they still take SS taxes from your pay, clawback half of earnings limit overages, and whatever you actually get from SSA is taxable as income.
For anyone who still thinks that Social Security is some sort of a retirement plan ("but I paid MY money IN") ... this should drive home the point that it is NOT.
The money paid in is long ago spent in the general budget expenses.
The payments now are a welfare benefit, and the payout rules can be changed at ANY TIME.
FDR told the gullible public that it was a retirement plan, while his attorneys at the same time were arguing to the Supreme Court that it was a welfare plan (and, they said, therefore constitutional).
The "lockbox" that Al Gore promoted was a joke all along, and he and Clinton (and the RINO's) were probably having a good laugh over cocktails.
"Hey, Al ... LOCKBOX ... that was a good one! Haha."
Yup, we have been scammed over and over and asked for more...