Linda359 Wrote:
Aug 15, 2012 8:43 AM
Another way Government is royally screwing the average taxpayer.............The earning limits on early SS recipients say for 2011 was 14,160. After earning that, you pay 50% penalty for every two dollars you earn above the mandated poverty limit. Take note the limit is Gross..........not net. Thus you are allowed to earn 6.81 hourly (pre tax) or in some's cases after tax, you can earn no more than a take home of 5.31 hourly. People, you are being paid far less than federal mandated minimum wage. But.............you are taxed to the max on the overage.