Unemployment was at astronomical levels. Congress created the Earnings Limit as a means to encourage older workers to retire and allow younger people to take their place in the workforce. It might have made sense then, but times have changed. The economy is strong. Unemployment is at record lows.
People live longer, more productive lives.
The Earnings Limit doesn't make any sense now. Not only does it make no sense, it is terribly unfair. The Social Security Earnings Limit reduces the Social Security benefits for anyone between the ages of 65 and 70 who continues to work and earns more than a certain amount. Since 1987, I have sponsored or cosponsored 11 bills to either increase the Earnings Limit or do away with altogether. In those early days, we managed to generate considerable support for our efforts in the House of Representatives but we couldn't convince the Reagan or Bush Administrations to give us their backing.