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.
And here’s exactly one of the problems I listed above. You’re asking that any separate retirement savings or income equaling or greater that about $15k/year should negate a person receiving SS retirement benefits. This would be subtracted by income from pensions, annuities, investment income, interest, veterans benefits, or other government or military retirement benefits.
Essentially old people UBI, keep them off the streets but not a replacement for actual work/savings.
You want that program, I certainly wouldn’t oppose it, but that’s not what Social Security retirement benefits are today.
If you actually work your benefit is reduced, if you just rent out some homes it isnt.
Keep in mind, the reduction you’re talking about for a fully retired person (65 or 67 depending on when they were born) would be earning above $59,520/year or more from their work in retirement. And again, if the fully retired person is getting $59,520/year income from pensions, annuities, investment income, interest, veterans benefits, or other government or military retirement benefits, you’d have them get zero SS retirement benefits.
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.
You’re changing the terms of the deal that everyone that has paid in agreed to. You can want it to be different, but make no mistake you’re suggesting a “bait and switch” to hundreds of millions of Americans that have planned on having SS retirement benefits granted to them as part of their retirement planning.
You can want SS retirement benefits to be something else, but your desired changes are exactly why its a non-started that isn’t even considered.