It’s not exactly a bright spot, but it is a sign of the times.
It’s a near-certainty that Social Security beneficiaries will receive a record cost-of-living adjustment next year as inflation stubbornly remains at a 40-year high.
Actually they got a cost of living adjustment this year. What remains to be seen is if they get compensated for it in the future. I'm not holding my breath.
If i remember correctly, the social security inflation rate excludes food and energy as they are deemed too volatile. Of course, once you're of an age, the vast majority of you spending is on consumables like food and energy.
I hope that we do get a 10% increase. It might almost catch me up to what I have lost this past year, due to the Biden factor, when it comes to our economy.
I'll never get "Social Security", so why should I pay for yours?
No......seriously, why? Hold back on you feels and sell it to me. Why should I have money taken from me at gunpoint and given to literally whoever? If your answer is "because I worked and they took it from me", than you need to try harder. You are justifying theft and engaging in the sunken cost fallacy.
So you're saying that the SS I've been paying into since I was 17 shouldn't be returned to me just because you haven't paid into yours? If you want to get really nasty about it, I figure my father's SS is mine as well seeing as he paid into his for 55 years and never drew a penny of it. Consider it part of my inheritance.
Wirecutter, you haven't been "paying in", you've been getting robbed to pay for other peoples' retirements. If you were getting your money back then you wouldn't need Doc B's and MY money to come out of our paychecks to finance the system.
FDR was an evil bastard and everyone gets screwed. The young who need their money to start their adult lives get robbed, and the old who should've had 40 or 50 years to save for their retirements weren't able to because they were getting robbed in exchange for promises of payouts financed with money stolen from the next generation.
Love ya brother, but I think you are missing the point. There is no "your account" or "my account". There is just a "trustfund". And it's been raided for cash more times than my kids cookie jar. You were never paying in to your retirement, you were paying for someone else's. It's called a Ponzi Scheme. It works really well for the first few people who get it, but in the end there is never enough money to keep a thing like this going. Especially when you consider that when they first put the SS system in place, the retirement age was like 2 years from life expectancy. Oh yeah.....and raiding the fund to pay for social programs and unpopular wars
Now days the SS system is a political football thrown around every couple of years by the political class to show the proles that they really care! Not like those eeeeeevil republicans who want ya eating cat food. It doesn't change the fact that the system is broke, has been broke for a really long time, and depends on a constantly increasing number of youngins to pay in for any progress at all. So.....that ain't working, so...... immigration. Except it doesn't work that way. Most immigrants are taxpayer leeches.
Besides, the taxes have reached the point that I'm downsizing, and seeking less work so I won't have to pay the taxes.
Considering all the profligacy and corruption and ludicrous trillions being spent on taking over the world, you'd think people could stop bitching about the old and the disabled at least getting enough help to starve to death out of the public eye. --nines
Fine, but at the same time they will increase the Medicare premium so it negates some of the SS increase. Giveth and Taketh.
ReplyDeleteActually they got a cost of living adjustment this year. What remains to be seen is if they get compensated for it in the future.
ReplyDeleteI'm not holding my breath.
I welcome the extra money but don't they know this is inflationary, too? Every time DC creates more money, it's worth less.
ReplyDeleteIf i remember correctly, the social security inflation rate excludes food and energy as they are deemed too volatile. Of course, once you're of an age, the vast majority of you spending is on consumables like food and energy.
ReplyDeleteI hope that we do get a 10% increase. It might almost catch me up to what I have lost this past year, due to the Biden factor, when it comes to our economy.
ReplyDeleteIf they do get an increase it'll be about half what the COL really is. See shadowstats for the real rate of inflation.
ReplyDeleteExpect someone to block the increase. What they need to do is remove the taxing of SS when you work.
ReplyDeleteI wonder how many SS recipients took 'the jab' and are no longer receiving?
ReplyDeleteThat was the target demographic, as well as Medicare/Medicaid recipients.
It's a race to see which goes dry first; Social Security or the Strategic Petroleum Reserve.
ReplyDeleteAmericans get an average of 12 or 13 hundred. Immigrants get over 2k.
ReplyDeleteGreat. I suppose this means even MORE of my paycheck will be stolen to finance other peoples' retirements. #FFDR.
ReplyDeleteI'll never get "Social Security", so why should I pay for yours?
ReplyDeleteNo......seriously, why? Hold back on you feels and sell it to me. Why should I have money taken from me at gunpoint and given to literally whoever? If your answer is "because I worked and they took it from me", than you need to try harder. You are justifying theft and engaging in the sunken cost fallacy.
So you're saying that the SS I've been paying into since I was 17 shouldn't be returned to me just because you haven't paid into yours? If you want to get really nasty about it, I figure my father's SS is mine as well seeing as he paid into his for 55 years and never drew a penny of it. Consider it part of my inheritance.
DeleteWirecutter, you haven't been "paying in", you've been getting robbed to pay for other peoples' retirements. If you were getting your money back then you wouldn't need Doc B's and MY money to come out of our paychecks to finance the system.
DeleteFDR was an evil bastard and everyone gets screwed. The young who need their money to start their adult lives get robbed, and the old who should've had 40 or 50 years to save for their retirements weren't able to because they were getting robbed in exchange for promises of payouts financed with money stolen from the next generation.
Wirecutter....
DeleteLove ya brother, but I think you are missing the point. There is no "your account" or "my account". There is just a "trustfund". And it's been raided for cash more times than my kids cookie jar. You were never paying in to your retirement, you were paying for someone else's. It's called a Ponzi Scheme. It works really well for the first few people who get it, but in the end there is never enough money to keep a thing like this going. Especially when you consider that when they first put the SS system in place, the retirement age was like 2 years from life expectancy. Oh yeah.....and raiding the fund to pay for social programs and unpopular wars
Now days the SS system is a political football thrown around every couple of years by the political class to show the proles that they really care! Not like those eeeeeevil republicans who want ya eating cat food. It doesn't change the fact that the system is broke, has been broke for a really long time, and depends on a constantly increasing number of youngins to pay in for any progress at all. So.....that ain't working, so...... immigration. Except it doesn't work that way. Most immigrants are taxpayer leeches.
Besides, the taxes have reached the point that I'm downsizing, and seeking less work so I won't have to pay the taxes.
Who is John Galt?
Considering all the profligacy and corruption and ludicrous trillions being spent on taking over the world, you'd think people could stop bitching about the old and the disabled at least getting enough help to starve to death out of the public eye. --nines
ReplyDeleteIt's all about votes
ReplyDelete