An earlier version of this story ran in August. This story has been updated to reflect the latest news.
The announcement that Social Security retiree benefits will rise by 5.9% next year -- the largest cost of living increase since 1982 -- should be welcome news for many seniors. Besides the strain of the pandemic, those living on low to moderate incomes have been hit especially hard by the one-two punch of rising inflation and low interest rates.More from Financial Empowerment How much house can I afford?Senior citizens found themselves paying more for essentials, while earning next to nothing on their savings and getting a monthly Social Security check that rose by just $20 on average in 2021.
The biden tax is more like 50%, god help those poor old people.
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Social Security COLA largest in decades as inflation jumpsWASHINGTON (AP) — Millions of retirees on Social Security will get a 5.9% boost in benefits for 2022. The biggest cost-of-living adjustment in 39 years follows a burst in inflation as the economy struggles to shake off the drag of the coronavirus pandemic . Whatever Happened to Penny Candy by Richard Maybury - please read. The cost of living under Biden (inflation) is $175/month. Social Security is going up approximately $92/month.🤨 I’ll take “bad policies” for $100, pls.
Source: AP - 🏆 728. / 51 Read more »
Social Security Benefits to Increase 5.9% for 2022Breaking: Americans receiving Social Security benefits will see the biggest one-year increase in their payments in nearly four decades, with next year's gain expected to be 5.9% As Social Security funding is projected to run out by 2035 will this increase move the date forward? That'll piss Republicans off Thank God
Source: WSJ - 🏆 98. / 63 Read more »
Despite welcome Social Security bump, seniors still struggle with surging pricesThe Social Security Administration's announcement that 70 million beneficiaries are getting, in effect, a 5.9% raise next year comes as welcome news for seniors — but for many, that hike can’t come soon enough. Meanwhile I’ve gotten 21 cents an hour raise over 3 years, maybe four. Biden's Economy. Almost as if printing money causes inflation
Source: NBCNews - 🏆 10. / 86 Read more »
EXPLAINER: Why Social Security COLA will jump next yearWASHINGTON (AP) — Rising inflation is expected to lead to a sizeable increase in Social Security's annual cost-of-living adjustment, or COLA, for 2022. Exactly how much will be revealed Wednesday morning after a Labor Department report on inflation during September, a data point used in the final calculation. Waste more taxpayers money on Govt.control Ronald Reagan – pushed real estate off the Inflation Calculation. (for PR numbers) Maybe it is time to have two inflation numbers, one with and one without market volatility numbers. (oil for example) You will stop twitting inflation if understanding of this twit grows. Deflation You fight inflation with STABILITY. With Full Stability you can actually achieve DEFLATION. This requires Addition. Remember, Gallup, Ideals and Theology do not add. Profits from Productivity vs. Volatility Full Public Auditable Economic Studies
Source: AP - 🏆 728. / 51 Read more »
Social Security checks going up by 5.9 percent, the highest increase in decadesAbout 64 million people who receive Social Security benefits will begin to receive a bigger check from the federal government in January. Who gets a $147000 annually for social security because my dad received $13000🤔 wednesdaythought My fucking contribution to this program better not go up by 5.9% cause my fucking wages didn't go up by 5.9%. $90 extra a month is not much to celebrate over. Especially when we spend trillions on defense contractors.
Source: MSNBC - 🏆 469. / 51 Read more »
Social Security COLA largest in decades as inflation jumpsMillions of retirees on Social Security will get a 5.9% boost in benefits for 2022. The biggest cost-of-living adjustment in 39 years follows a burst in inflation as the economy struggles to shake off the drag of the coronavirus pandemic. The COLA, as it's commonly called, amounts to $92 a month for the average retired worker, according to estimates released Wednesday by the Social Security Administration. Oh brother. Try socialist Marxist policies of the Democratic Party that are tanking the economy.
Source: YahooNews - 🏆 380. / 59 Read more »