SS increase

[73ss454]

New formula would reduce Social Security increases - Yahoo! News

Here is the first thing the government came up with to take our money back, stand by for more.

 

[MichaelB]

Chained CPI is not new and is not a government conspiracy. The theory behind it is solid, which is probably why the author chose to focus on sensational misrepresentation instead.

Edit: a link to a BLS paper explaining chained CPI (dated 2003) http://www.bls.gov/cpi/super_paris.pdf

 

[justplainbll]

Hope that mumbo-jumbo does not apply to currently outstanding TIPS and I-bonds. When the price of potatoes, beans, rice, and macaroni products go up in lock step, what do the Washington geniuses think JQP will switch to?
If FICA was on the up-and-up, payments to contributors would be based on a 25 year annuity with a 5% return on the contributions made by the contributor and their employer.

 

[BLS53]

The other end of the spectrum is the senior lobby wanting the CPI "elderly" formula. The middle ground is what we already have, the CPI-W.

 

[mickeyd]

With COLA increases in SSA and military pension, and medicare premium reduction (for me) my net income should increase about $100/month in 2012.

What a country!

 

[DeborahB]

Well... SS just recalculated my monthly amount and is backdating it to January 2011 when I started collecting. That was welcome news - $26 more a month! But hey, I'll take it.