Posted on 10/13/2021 6:30:48 AM PDT by karpov
But it’s better on crackers 😉
Social Security Benefits to Increase 5.9%
Inflation at 5.5%
Net gain 0.4%
What a deal that democrat math is really something huh.
BINGO! Just as any pay wage hike, everything spikes.
1. And are FICA (payroll) taxes going up to help pay for the higher benefits??? (No.)
2. The social security fund will just become insolvent sooner. Which is the part the politicians are not going to talk about.
Actually it’s really 10%.
I got a 1.4 percent COLA raise in my State pension this September. That averages out to $21 a month before taxes.
I continue to check Shadow Stats website for the “true” rate of inflation.
Do you pay for health insurance through your pension check? Here in Alabama some (not all) state retirees are on an insurance plan with their premiums paid from their pension check (much like Medicare paid from SS check).
Is there such a thing? We buy Kombucha weekly, and see the price increases. I mix it with other drinks half and half and it's got great flavor. Mix with Mexican coca-cola, mango juice, Sprite, hard seltzer, the Kombucha makes it all taste good.
I have secondary insurance with the State, which I pay for out of my pension check. I’m fortunate in that whatever the government takes out of my Social Security each month for Medicare, the State reimburses me for each month.
That is fortunate.
Where did you get that figure?
google is your friend
got it
And it will buy about as much, if not much less, than it did last year . . .
I got a 3% raise in my pay in January. Entirely earned, since I’m good at my job, where the normal raise is around 2%. But it’s still not going to cover all this crap completely.
And neither will 5.9%.
My oldest son works for an international company. They give very minimal raises each year, but focus more on bonuses. Believe it or not, last year was their best year financially, despite the lockdowns all across the globe. My son got a very nice bonus this past spring, and it looks like his department will be getting another good bonus this year. Not bad for sitting on your ass in front of a desk in your dining room every day. Until the lockdown last year, he had to drive into work every day. With gas prices so high, it's fortunate he doesn't have to fill his tank up very often.
It will be 20 years in December that I've been retired. I worked in uniform, in NY State's Dept. of Corrections. I had to belong to the union, especially because some of the benefits were tied to the contracts. Contracts usually ran 3 years. When Mario Cuomo was Governor, there were contract periods when we got 0-0-1, or 0-0-3. We never got a negotiated raise over 3% in the 25 years I worked for the State. We were allotted performance advancement rates once a year on our anniversary. I can't complain about any of it. Up until I took the job, I was working as an office clerk for the county, while raising two sons alone. My salary before I took the job was $5579. When I became a C.O. trainee, my salary started at about $11,500. I retired as a Sergeant making about $65,000. Between working for the County, and the State, I ended up with almost 33 years of service. Between my pension, and Social Security, I now make almost the same as I was making when I was working full-time. Not bad for sitting on your ass on the sofa watching TV, and fiddling on the computer every day.
That’s part of the equation. There are a couple other things that more than eat it up. Saying this is the biggest S.S. increase since ‘82 doesn’t mean much when you look at what everything costs. They sure want to make it sound like a big deal, tho. Well, there’s this to consider too: suppose prices hadn’t skyrocketed in the last few months, then that raise could have been much smaller & the money has to come from somewhere. Stable S.S. income & lower prices would have been much better, I think. If prices had actually decreased, then S.S. wouldn’t have to. I could have said maybe S. S. could decrease slightly, but it seems it is rather behind everything else anyway, if that’s your only income.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.