Those earnings caps were enacted in 1935 when this country had a surplus of workers. Now, we have a shortage. Dumping the earnings cap for the 65-69 age group will encourage them to continue working. Not dumping it for the 62-64 group will discourage them from retiring early. However, even though lifting the cap is good economics, we probably wouldn't have seen it happen if this were not an election year.
Politicians know the elderly vote in big numbers.
The second situation, the rewarding of your friends, also is pending in Congress. It would stop the Federal Communications Commission from granting licenses to nonprofit groups for about 1,000 very low-power radio stations. There's a huge consolidation going on in the radio broadcasting industry. There is less diversity on the air. The FCC wants to encourage different voices by awarding the low-power licenses, which would often have enough power only to reach a small neighborhood.