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Author: epc53 Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 74759  
Subject: Re: Application of Retirement Earnings Test Date: 3/1/2008 12:56 AM
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me earlier: Why should income in retirement be penalized so much more severely than the same income pre-retirement?!?

I guess I don't understand what you're getting at here. What income are you talking about? What income is being penalized?

The income that caused them to lose a portion of the benefit they earned and would otherwise have received, the only income discussed in the thread.

me earlier: They are losing a much higher fraction of their income.

No. They are trying to collect a benefit before they are qualified to receive the benefit.

Nonsense, they are certainly "qualified" to receive the benefit since they are receiving the benefit as described in the first post of the thread.

So the benefit is being reduced. They aren't losing income, they're repaying money they received when they weren't entitled to receive it.

Utter nonsense, nowhere in this thread is anyone paying back anything they received.

Entitlement is not in any way the issue. The fairness of the rule is the issue. I think I made that clear in the part of my last post that you seem to have ignored.

me earlier: What is the magic in saying "I have retired" which causes one to deserve to pay double the tax rate of an able bodied person with decades of income ahead of them?

Now I think I see where you are confused. There are two issues here. First, some portion of social security benefits can be taxable. That depends on the total income from all sources. A separate issue is that a person between 62 and 65 (or is it their full retirement age?) has a limit on how much they can earn from working and still collect their SS benefits.

It is this second issue that I've been talking about.

I'm not talking about taxation of the SS benefit which AFAIK was not mentioned anywhere in the thread.

It is that "second issue" that I've been talking about, rather, the lack of fairness of it which you have in no way addressed.
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