In fact, with the exemption in effect, shoppers from the suburbs and perhaps those from nearby parts of Connecticut, which has a 6.35 percent sales tax, might be enticed by a simple calculation: Shop for clothes (under $110) in New York City, and pay no sales tax. And city residents might be enticed to stay.
For example, if you're 64 years old, taking home $1,100 a month in Social Security benefits ($13,200 annually), and you earn $24,000 in wages in 2016, you can expect the SSA to reduce your 2016 annual benefit by $4,140 ($24,000 minus $15,720, then divided by $2). Your net benefit would be $9,060.
The average monthly Social Security benefit in July 2015 was: 1  $1,336 a month for retired workers; 2  $1,282 a month for widows or widowers over the age of 60; 3  $1,165 a month for disabled workers; 4  $1,979 a month for a disabled worker, spouse and one or more young children; 5  $2,631 a month for a widowed mother and two children.