Posted on 08/11/2021 5:46:08 AM PDT by House Atreides
The annual cost-of-living-adjustment (COLA) for social security payments and military retirement annuities is based upon the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). The CPI-W increased by 0.5 percent in July 2021 compared to June 2021’s figure. The CPI-W figure for July 2021 of 267.789 is 5.67 percent higher than the average CPI-W for the third quarter of 2020, which was 253.412 (1982-84 = 100). The annual COLA is computed by comparing the change in the CPI-W from year to year, based on the average of the third-quarter months of July, August and September. So this July 2021 CPI-W figure will be averaged with the CPI-W figures for August & September 2021 (to be announced Sep 14 and Oct 13, respectively) and that average’s percentage increase over 253.412 will be the percentage increase for the January 2022 retirement payments.
These annual COLA increases are meant to protect benefits from inflation but, IMHO, don’t. Using the pre-1980 formula for determining increases would be at over 10% now instead of 5.67%. We’re actually at Jimmy Carter level of inflation.
INFLATION IS TAX ON THE “LITTLE GUYS”. The DemocRATS want no one to escape their tax increases.
COLA actually stands for:
Committee of Lying A&^%holes!
C-O-L-A, Cola!
“Transitory inflation.” So sayeth the Fed. I pumped nearly $63. of “transitory inflation” in my truck yesterday.
I’m olde, pay me!!!
What a joke. Such rigged numbers.
It is much worse than these numbers convey.
Get shack in woods, shotgun, and lots of canned goods. Break ground on garden and buy reload equipment and supplies. Post signs: Beware of Owner.
They do a COLA and then take a big chunk of it to raise PART B premium.
The old Y2K sites had the best “human repellent” sign idea:
“Quarantine Area”
Use lots of red tape...
;-)
And you may find yourself, living in a shotgun shack!
Slacker! My diesel 36 gal tank takes twice that to fill!🤑
Bacon@$12/LB is infrastructure.
Someone on another thread mentioned that there’s supposedly a huge increase in federal fuel taxes buried somewhere in the infrastructure monstrosity. I wonder if that’s true.
I remember getting a house mortgage at 12% back in 82.
The key data is as follows:
The indexes for shelter, food, energy, and new vehicles all increased in July and contributed to the monthly All Items seasonally adjusted increase. The All Items index rose 5.4 percent for the 12 months ending July. The index for All Items less food and energy rose 4.3 percent over the last 12 months, while the energy index rose 23.8 percent. The food index increased 3.4 percent for the 12 months ending July, compared to a 2.4-percent rise for the period ending June.
And this morning some moron news reader said the new trillion dollar “infrastructure” bill was completely paid for by taxes on companies and the rich.
LOL...even better.
I always wanted one of those.
I'm all for a shack in the woods, but eventually they'll tell you your septic system isn't good enough, your permit for your well doesn't seem to be in order, and the area isn't zoned for shacks.
They'll haul you away in handcuffs and when you get back, your shack will have mysteriously burned down.
The only way to prevent that is to start shooting up heroin and claim to be homeless. Then they'll leave you alone.
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