For example, we might reduce benefits by 10% for every $5,000 in annual income over $50,000 (adjusted for inflation) such that there would be complete elimination over $100,000. That's enough to reduce the burden and the payouts to the very wealthy, but the phaseout is gradual enough that it doesn't become a strong disincentive to saving. So if I have paid SS for over 40 years but have an income over $100,000, I would get nothing ? Huge disincentive for private savings and continuing to do some work(which would put money into the SS coffers).rad
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