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Re: SS cola

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Message 21 of 72

Cola used is very deceptive. It is based on bundled things seniors never use. And again, while Cola is increased only 1.5% or less or no, Medicare will raise premiums some time by 3% to 5% (though Medicare may not have raised providers charges) & will allow MediGap, Plan D premiums to go up from 5% to 10%, drug prices will go up 100% to 500% in some case, making seniors in Dought Hole quickly, later on higher deductibles.

 

There should separate seniors COLA based on things seniors use most like food prices, drug prices, MediGap/Plan D premiums, drug prices etc.

 

Similarly there should be separate Seniors Rate of Interest linked to mortgage rates, so those seniors who save some wisely can survive.

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Re: SS cola

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Message 22 of 72

@Tatnuck56 wrote:

Correct! Just as it did when we were children. When FDR started what is now Social Security, it was known as FICA and it was contributory. Currently, working people pay around 7.5% of their income and their employer pays the same amount for them. And it's not contributory. If it were, none of us elders would be getting anything because there would be no contributions. And when we were young and gainfully employed, we probably wouldn't have contributed either. When you're young, 'there ain't no time like now' and few young people worry about tomorrow. So making provisions for retirement isn't a priority.

 

Today's 'children' aren't being 'put-upon' any more so than we were when we were working and paying into the system, while there were elders receiving benefits. We paid into it, we earned the benefits and our monthly payouts aren't being 'footed' by our working children. They'll get it back, partially or in full when they, hopefully, live long enough to qualify for and reap the benefits.

 

If you think that Social Security should be discontinued, please remember that, if you're getting benefits, your's will be discontinued, too.

 



Sounds like the guy in Princess Bride who did not understand the meaning of the word "inconceivable."  Maybe you meant "voluntary."
 
con·trib·u·to·ry
kənˈtribyəˌtôrē/
adjective
 
  1. 1.
    playing a part in bringing something about.
    "smoking may be a contributory cause of lung cancer"
  2. 2.
    (of or relating to a pension or insurance plan) operated by means of a fund into which people pay.
    "contributory benefits"
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Re: SS cola

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Message 23 of 72
Congress sure as heck got their COLA though. We deserve a COLA EVERY YEAR!
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Re: SS cola

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Message 24 of 72
I think it is a dirty shame. Seriors did not get a a raise this year.Ido not trust none of the people runing for office.
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Re: SS cola

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Message 25 of 72

@kleino wrote:

You will hate my reply but let's be honest here. Seniors have it good.

 

We get working people to subsidize our social security check http://bit.ly/1WvNB2R, we get them to subsidize our heath care; the really low income get further subsidized via Medicaid.

 

I think when we have an atypical year with low inflation and no cola adjustment, we should just stay quiet. I often wonder why my children don't rebel with all of the transfers that occur from their paycheck to us.

 

It's not like the money comes from nowhere--it comes right out of your children's paychecks.


You seem to be confused.  There is a big difference between seniors "having it good." and just barely making ends meet.  You are right about where the money comes from though--current workers.  When they retire or become disabled then their children foot the bill, whether through government programs or directly.  Not a lot of other options out there, especially with Wall Street causing a financial crisis a few years ago destroying the retirement savings of millions while making themselves rich.

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Re: SS cola

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Message 26 of 72

According to SS there will not be a COLA from SS. I bet that  people in the white house are getting more monies. Up there seniors do not have to buy food, pay bills to live like human, we are just here. They have forgotten how many years that we have worked and paid taxes in this country so they can have a job. I pray for this country often. Seniors does matter:

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Re: SS cola

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Message 27 of 72

My kids do not resent me getting Social Security retirement benefits because they saw how hard I worked for 44 years. It is not an entitlement, I am making a withdrawal from the bank. There was plenty of money in the account until the government decided to spend what was not theirs. Seniors are the ones paying for government mistakes. Seniors that think we all have it good, should relinguish their benefits.

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Re: SS cola

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Message 28 of 72
I too am one of those people who would like to have gotten a raise in my social security check but I know folks who get less than I do and need help from family to make it till the next check. I still have my husband so we get two checks in our household but should either of us die the one left behind it will be a struggle and we have money set aside.
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Re: SS cola

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Message 29 of 72
Older people have a different basket of goods than the one used to calculate inflation for the average person.

Older people are much more sensitive to increases in health insurance than we used to be, and much less sensitive to the decrease in gas prices.

I would argue that a different inflation factor be used, one that more accurately reflecting the goods and services used by older people.

However, that has to be funded.

I tell my kids, ad nauseum in their minds, to not rely on social security to live on. Save as much as you can, and treat whatever you get as gravy.

There will be ultimately be a means test, so the cost of living adjustment will be moot for many.

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Re: SS cola

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Message 30 of 72

I am not happy about it either but what really angers me is the lame excuse for no increase - because gas prices are down!  Number 1:  I do not drive.  Number 2:  The price of gas may be down but the prices on so much more of what I need to survive has gone up - just little things like

F O O D !  Please do not be concerned for me Washington D,C. I am getting pretty adapt at survivng your stupidity

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