It’s based on the poverty level income and inflation which is also measured/decided by government.
Social Security should be reduced by any income above that poverty level not just working income as it is now. That is the unfair part to me. If you actually work your benefit is reduced, if you just rent out some homes it isnt. Social Security isn’t supposed to be a bonus to retirement. It was literally meant to keep old people off the streets and if you didn’t/couldn’t save up more than that I’m not inclined to do more than that. Essentially old people UBI, keep them off the streets but not a replacement for actual work/savings.
The government uses my taxes to spends billions on things that don’t benefit me directly. I’m a lot more ok with welfare programs(and their massive societal benefits) than bombing Palestinian children. Call it a separate tax all you want it comes out of my paycheck and goes to the government all the same. Fairness or equality of paying in get pay out is not the same as equity or justice of those who have less getting helped more. Those with more having their money go to those with less is exactly how a good society works and is what I hear a lot of the boomers grew up with before pulling up the ladder for everyone younger.
As it is now it is not a 1:1 reduction, it is tiered, I’d still keep that part of it. So if you have more you still have more not equal. It is human to want more than just subsistence living so I don’t see this being an issue. If not, so what? they still paid into it.
Essentially there already is means testing and the way it is done right now favors the haves, when it should favor the havenots.