Two years without COLA...when will Seniors rise up??
I didn't see seniors rise up when they got a massive 5.8% COLA in 2008, the largest since 1982.
It's expected a modest 1-2% COLA is coming.
The larger point is that this "payroll tax cut" isn't a tax cut at all since it's borrowing from Social Security. It must be replaced with general tax revenues. Further it's all been employee-side, not employer-side so it does nothing to lower cost of new hires.