Can I ask a stupid question about retirement here?

[llmart]

19. I paid federal taxes on a portion of my income.....

and I take great umbrage at the use of the adjective "substantial". Nowadays, if your gross income is $34,000 I would hardly call that "substantial". Net income could be 70% of that.

I also get peeved that I'll be penalized this year if I make over $15,480 gross in wages by having Social Security withhold one or two months of my Social Security because I won't be full retirement age until 2015. Who the heck came up with that rule anyway? I have several friends in the same boat and we're all trying to do calculations as to whether to try not to go over the limit. It's a ridiculous rule - the "we'll take back one dollar for every two dollars you go over the limit". A friend went over the limit last year and even if you only go over the limit by a few dollars, they take a whole month's check and yes, you'll get the balance back but not for another year.