Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Just some interesting data for anyone who would like to read it.
Below is an AP report which categorizes the lack of a COLA as recipients income shrinking. FWIW interesting stat: the average monthly benefit is $1,153.00 ($13,836./year -- below the poverty level) How many of us could get by on that in the region where they live? The Associated Press: Millions face shrinking Social Security payments
Stack the "no increase" up against inflation, and you'll understand why it is said to be "shrinking" ..
Yes, we are not experiencing any inflationary pressures this year, we are much closer to deflation and no increase in inflation this year, so therefore, those on Social Security should not get an adjustment to COLA. I mean how can you make a cost of living adjustment when there is no increase in inflation?
You also fail to point out they received a huge one time payment in Jan and they also benefited from the stimulus package, because they received added money onto their benefit for the rest of the year.
To a Social Security recipient counting on that extra $20-$40 a month come Jan 1, the CPI means little. They are still going to have to pay utilities (which in my area aren't going down in price), have Medicare premium deducted from their check (which goes up each year.) Chances are as the individual ages, s/he is going to require more meds or other costly medical accessories not covered by Medicare. Not all of them have family to turn to, either.
We're fortunate that we can discuss this without concern about how much a stamp costs to mail a bill, or what the latest cable bill or phone company increase is. If the SS recipient lives in NYS, we were just hit with more taxes at many levels which will negate any changes to the CPI which would be considered postive to the SS beneficiary.
You have a very good point. Taxes are increasing everywhere to help make up for lost revenue due to the recession and increased spending. Phone, fuel, cable, satellite, internet, rain, utilities, property, food, savings, investments, death, and everything else is taxed. All our taxes will be going up. I expect a few new taxes and increases in old taxes when the economy finally recovers. There is no way to avoid an increase in the cost of living.
Millions of older people face shrinking Social Security checks next year, the first time in a generation that payments would not rise. The trustees who oversee Social Security are projecting there won't be a cost of living adjustment (COLA) for the next two years. That hasn't happened since automatic increases were adopted in 1975.
They don't want your stinking Social(ist) Security or Medicare. They will start burning their Medicare Cards at the Town Halls to Prove it.
That's why they are out there protesting. Thank goodness Dick Armey and Freedomworks are suing to get rid of it
Yes, we are not experiencing any inflationary pressures this year, we are much closer to deflation and no increase in inflation this year, so therefore, those on Social Security should not get an adjustment to COLA. I mean how can you make a cost of living adjustment when there is no increase in inflation?
You also fail to point out they received a huge one time payment in Jan and they also benefited from the stimulus package, because they received added money onto their benefit for the rest of the year.
Could you tell me where my huge one time payment went? I didn't ever see anything different on my bank statement. For some reason I am like everybody else with that stimulus. I didn't get anything at all. BTW, are they going to spend that stimulus money some day.
Just some interesting data for anyone who would like to read it.
Below is an AP report which categorizes the lack of a COLA as recipients income shrinking. FWIW interesting stat: the average monthly benefit is $1,153.00 ($13,836./year -- below the poverty level) How many of us could get by on that in the region where they live? The Associated Press: Millions face shrinking Social Security payments
SS was never meant to be a livable income but a supplement to savngs or other retirement money.
Could you tell me where my huge one time payment went? I didn't ever see anything different on my bank statement. For some reason I am like everybody else with that stimulus. I didn't get anything at all. BTW, are they going to spend that stimulus money some day.
Do you have income other than social security that would disqualify you from the stimulus?
To a Social Security recipient counting on that extra $20-$40 a month come Jan 1, the CPI means little. They are still going to have to pay utilities (which in my area aren't going down in price), have Medicare premium deducted from their check (which goes up each year.) Chances are as the individual ages, s/he is going to require more meds or other costly medical accessories not covered by Medicare. Not all of them have family to turn to, either.
We're fortunate that we can discuss this without concern about how much a stamp costs to mail a bill, or what the latest cable bill or phone company increase is. If the SS recipient lives in NYS, we were just hit with more taxes at many levels which will negate any changes to the CPI which would be considered postive to the SS beneficiary.
You also fail to point out they received a huge one time payment in Jan and they also benefited from the stimulus package, because they received added money onto their benefit for the rest of the year.
You reading Google snips instead of articles?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
