Posted on 11/15/2023 12:48:42 PM PST by ChicagoConservative27
(NewsNation) – The Social Security Administration announced 2024’s cost-of-living adjustment (COLA) just over a month ago, confirming a 3.2% bump in benefits for retirees. Here’s what you need to know.
How does the 2024 increase compare to 2023’s? While still one of the largest increases in decades, 2024’s COLA increase of 3.2% is far below the 8.7% bump that recipients were granted in 2023.
(Excerpt) Read more at thehill.com ...
One thing to remember is that we “Boomers” are a rapidly diminishing cohort of the national population. I am at age 77 and will not even collect what I have paid in since 1964. The overage will not go to my heirs but back into the pot. An issue that needs to be addressed is payments to those who never paid in a single penny. There is a lot of “weeding out” to be done of those who have snuck one to the rolls.
I’m 72 - still working and waited till I was 70 to start taking benefits.
I maxxed out all my quarters.
So it looks like my new payment is $4700 per month.
That’s $56k per year - but I paid in a whole lot more than I should have to get there.
I guess the thing that really burns me about all this is the money spent on other countries when it is badly needed right here. Why should S.S. go broke because of funds that are spent on other countries? Or spent on all the illegals that are getting into our country? They should just be told to “go home” at the border. Think of how much money that would free up & what a load it would relieve the border patrol of! Not understanding why some of our overpaid federal force can’t seem to understand this! In the Bible, we are told to pray for those who rule over us, but it doesn’t seem to be having any effect.
... and the thousands upon thousands of dollars that were forcibly extracted from our earnings over so many decades — and the dollars we continue to pay iinto the system while we’re still working — has long since been spent to buy votes ... the precise purpose its politician designers developed it to be used for.
People at the top call SS recipients “Useless Eaters”. Why cut spending if you can reduce the numbers of the dreaded “Useless Eaters?”
Even the last one under Trump was too small, COLA raises don’t include the most explosive food/FUEL PRICES. 3.2% won’t cover my Humalog from Express Scripts. I make less than the average SS checks.
I’m one of those “useless eaters” I guess, but at 80+ yrs. old & physically unable to hold down the last job I had (after 35.5 yrs. with the same company) I didn’t have a lot of other choices. The last raise was fairly satisfactory for me, but prices are generally going up, not down. A few of them vary;like gasoline. Considering that the government is probably broke anyway, I don’t know what the answer is. Two of the possible answers to this would be the amount of foreign aid given out to places that should not get any & also the illegal immigrant situation. Our government seems unable to correct either problem. Aren’t U.S. citizens more worthy than foreign countries that hate us & the ever-increasing flood of illegals?
Let's see, we wasted a trillion on that covid flu to prop up cities and teachers unions, can we get that back and put it towards SS?
I worked in a skilled job most of my life,rather poorly paid, retired completely at age 75(couldn’t handle it any more, so now I get less than half of that $4700....an amount on which I think I could live like a king!
Of course!
Just went out with a friend at a small restaurant. A burger with fries and a drink was just around $25.00 per person.
So you and four close friends could go out for a burger and dries. Yahoo. Thanks Brandon!
The lefties are amazed gas is$5.50+...but bring up it was $2.00 a gallon with bad orange man and you’ll start WW-III.
Very true but the original FICA tax rate was one percent! With no employer match.
My point is that that tax is now 16.3% of income including the employer match.
That’s outrageous. Individuals can do much better for themselves if they could invest some of that income.
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