Tax Fairness for the Elderly: Eliminating the Social Security Earnings Penalty
Thursday, September 14, 1995
by Stephen J. Entin
Social Security recipients under age 70 who earn more than a modest amount from wages or salary are America's most heavily taxed citizens. For example, if a married 64-year-old couple with as little as $22,500 in total annual income earns another dollar in wages, as much as 83 cents of it can go to taxes. At higher income levels, the couple can pay even more than a dollar in taxes for each additional dollar they earn -- so their net income decreases if they work for pay.
For complete publication: bg137.pdf