To amend title II of the Social Security Act to remove the limitation upon the amount of outside income which an individual may earn while receiving benefits thereunder, and to provide for additional financing of the OASDI trust funds based on income taxes payable under existing law by individuals who would therefore continue to earn income after attaining age 62.

Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to remove the limitation on the amount of outside income which a beneficiary may earn without incurring a reduction in benefits.

Provides additional financing to the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund from income tax revenues from individuals who have attained age 62.