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Show Social Security Lists Amounts of Maximum Earnings In 1977 people under 72 can earn as much as $3000 and get their full social security retirement or survivor benefit. The yearly earnings limit for 1976 was $2760. The increase keeps the amount in line with increases in general average wages. For earnings.over $3000 in 1977, social security benefits will be reduced by $1 for every $2 earned. However, no matter how much people earn for the year, they can get their full benefit for any month they neither earn over $250 nor do substantial work in their own business. Different rules apply to disabled people who are getting social security disability benefits and people 72 and over will continue to get their full benefits regardless of earnings. The social security tax rate remains the same in 1977--5.85 percent of covered wages paid by employees and employers; em-ployers; 7.9 percent of covered self-employed income. |