Tag: no SS COLA increases
More Government Scams
by admin on Oct.12, 2015, under US Politics
++ Falling gas prices means no Social Security increase in 2016
Congress enacted automatic increases for Social Security beneficiaries in 1975, when inflation was high and there was a lot of pressure to regularly raise benefits. Since then, increases have averaged 4 percent a year.
Only twice before, in 2010 and 2011, have there been no increases.
In all, the COLA affects payments to more than 70 million Americans.
Almost 60 million retirees, disabled workers, spouses and children get Social Security benefits. The average monthly payment is $1,224.
So if the average payment is $1,224 per month, that means a LOT of people get less.
More bad news: The lack of a COLA means that older people could face higher health care costs.
Most have their Medicare Part B premiums for outpatient care deducted directly from their Social Security payments, and the annual cost-of-living increase is usually enough to cover any rise in premiums. When that doesn’t happen, a long-standing federal “hold harmless” law protects the majority of beneficiaries from having their Social Security payments reduced.
But that leaves about 30 percent of Medicare beneficiaries on the hook for a premium increase that otherwise would be spread among all. Those who would pay the higher premiums include 2.8 million new beneficiaries, 1.6 million whose premiums aren’t deducted from their Social Security payments and 3.1 million people with higher incomes.
Only 3 times in the history of Social Security have there been no cost-of-living increases, 2010, 2011, and now 2016. Who’s been at the helm for those??
Social security seems like a scheme to me. You take money from worker’s paychecks for every single day they work, promise them a return on that “investment” if they live long enough, and then constantly manipulate the SS fund AND the qualifiers, to give them as little as possible.
But while this is happening, we’re handing out billions in aid to other countries, spending billions per year to support illegal aliens and refugees, and watching the government waste more millions on things that don’t do one damn thing for this country or its citizens.
Why are they squeezing those who paid in?
++ US Government Has Borrowed Trillions From Social Security Trust Fund
SCAM ALERT!!!
I am so sick of being ripped off by my own country – and there is no end in sight…
