SS is means tested, albeit indirectly way. This is done via taxing benefits when there is sufficient other income. Rather than reducing benefit paid based on an income means test, it is a benefit claw back. The SSA pays a dollar in benefits, and the IRS takes some of it back and give it back to the SSA. For the highest earners, this works out to a 31.45% or more reduction of SS benefits (85% of 27%). Note that SS is not asset tested. Only income tested. Also note that all income in considered, including half of your benefit. Not just wages.
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SS is means tested, albeit indirectly way. This is done via taxing benefits when there is sufficient other income. Rather than reducing benefit paid based on an income means test, it is a benefit claw back. The SSA pays a dollar in benefits, and the IRS takes some of it back and give it back to the SSA. For the highest earners, this works out to a 31.45% or more reduction of SS benefits (85% of 27%). Note that SS is not asset tested. Only income tested. Also note that all income in considered, including half of your benefit. Not just wages.
Post: So Many Benefits
Link to comment from August 25, 2021