Social Security Benefits Rising 2% In 2018, But Most Won't Get the Money

[KingsX]

Gotcha! Social Security Benefits Rising 2% In 2018, But Most Retirees Won't See Extra Cash

" The Social Security Administration announced today that more than 65 million recipients will get a 2% cost-of-living adjustment (COLA) in 2018,  after receiving a measly 0.3% boost in 2017 and no increase for inflation in 2016. That means the average benefit for a retired worker will rise by $27 a month to $1,404 in 2018 while the average benefit per retired couple will grow $46 a month to $2,340.  But many recipients will find most or all of that increase eaten up by a jump in the Medicare Part B premiums deducted from their monthly Social Security checks. "

more at link

https://www.forbes.com/sites/janetnovack/2017/10/13/gotcha-social-security-benefits-rising-2-in-2018-but-most-retirees-wont-see-extra-cash/

[Applewood]

Not entirely unexpected. Those of us who got up every day, went to work and contributed to SS never get anything from the federal government without a catch.   No wonder SS is often referred to as a ponzi scheme or a con.   

Maybe I should have stayed home for all those years and just let the gubmint take care of me, just as most of my neighbors do now.    I worked my tail off to keep the slackers in booze, drugs and cigarettes.  Now that I could use some of the money I put into SS, I get cheated.

I have a few choice words for those [bleeps] in Washington, but I will refrain. 

[Suppressed]

Gotcha! Social Security Benefits Rising 2% In 2018, But Most Retirees Won't See Extra Cash

" The Social Security Administration announced today that more than 65 million recipients will get a 2% cost-of-living adjustment (COLA) in 2018,  after receiving a measly 0.3% boost in 2017 and no increase for inflation in 2016. That means the average benefit for a retired worker will rise by $27 a month to $1,404 in 2018 while the average benefit per retired couple will grow $46 a month to $2,340.  But many recipients will find most or all of that increase eaten up by a jump in the Medicare Part B premiums deducted from their monthly Social Security checks. "

more at link

https://www.forbes.com/sites/janetnovack/2017/10/13/gotcha-social-security-benefits-rising-2-in-2018-but-most-retirees-wont-see-extra-cash/

Doing a lot better than here.  No wage increase; huge ones in insurance premium.

[LMAO]

We are one day going to have to face the mathematical reality when it comes to these programs. I realize SS and Medicare are popular but popularity and sustainability are not the same

[IsailedawayfromFR]

Not entirely unexpected. Those of us who got up every day, went to work and contributed to SS never get anything from the federal government without a catch.   No wonder SS is often referred to as a ponzi scheme or a con.   

Maybe I should have stayed home for all those years and just let the gubmint take care of me, just as most of my neighbors do now.    I worked my tail off to keep the slackers in booze, drugs and cigarettes.  Now that I could use some of the money I put into SS, I get cheated.

I have a few choice words for those [bleeps] in Washington, but I will refrain.

The article makes it clear that SS is increasing benefits.  It is Medicare insurance premiums which are increasing.

Another stab in the back by the RINOs in Congress.



Thanks to

[KingsX]

Here's something else that needs watching:


" The Nearly Invisible Trump Tax Plan Proposal That Could Threaten Social Security

A little-noticed provision in tax reform could potentially affect retirees in the future."

[...]

" At the end of the section of the proposal on individual tax rates, there's an innocuous-sounding provision that would be easy to overlook:

    The framework also envisions the use of a more accurate measure of inflation for purposes of indexing the tax brackets and other tax parameters.

The Trump tax plan doesn't specifically state what it means here. However, most economists agree that the intent is to switch from the current Consumer Price Index to an alternative measure called the chained CPI. Although this shift would have a direct impact on the way that tax brackets and deductions get indexed for inflation, use of the chained CPI in one government context might well lead lawmakers to apply it to other situations as well -- such as Social Security. "

more at link

https://www.fool.com/retirement/2017/10/14/the-nearly-invisible-trump-tax-plan-proposal-that.aspx

[jmyrlefuller]

Yet if we're ever in deflation, benefits will never be cut. The wonderful world of indexing!

[KingsX]

It's not enough that for the past several years Social Security's annual cost of living increase has been little or nothing and eaten up with an increased Medicare B premium.  Government Scrooges have also been advocating changing the way SS COLA is calculated... changing to a  "Chained CPI" ... which would make future SS COLA's much WORSE !! 

Now the GOP may have found a way to sneak "Chained CPI" into their "tax reform" which would negatively affect how that part of your income protected from tax is annually adjusted for inflation and potentially SS as well.  If this is the case, we have found the evil devils who lurk in the details.

[KingsX]

WOW !!

Wonder no more...  the GOP IS actively trying to substitute the inferior "chained CPI" in their tax reform package of lies !!

http://thehill.com/opinion/finance/354771-hidden-tax-increase-is-neither-hidden-nor-an-increase

[KingsX]

Here's a Ron Paul quote about the GOP's tax plan and "Chained CPI"


" The framework also contains a stealth tax increase imposed via the chained consumer price index (chained CPI). Supporters of chained CPI clam the government is currently overstating inflation. The truth is exactly the opposite: government statistics are manipulated to understate inflation.

Chained CPI enhances the government’s ability to lie about inflation. One way it does so is by claiming that inflation does not lower our standard of living if we can substitute cheaper goods for goods made unaffordable by inflation. So inflation does not harm you if you can’t afford a steak dinner as long as you can still buy a cheeseburger.

Chained CPI allows the government to take maximum advantage of “bracket creep,” where individuals are pushed into higher tax brackets not because they are actually earning more money, but because inflation creates the illusion they are wealthier. In fact, by decreasing their purchasing power, inflation makes most people poorer. The inflation tax thus raises taxes on declining incomes. It is hidden and regressive, making it the most insidious of all taxes. "

http://www.ronpaulinstitute.org/archives/featured-articles/2017/october/09/will-tax-reform-increase-or-limit-liberty/

[Gefn]

 Bookmark

Thanks for all the information.

You guys rock. I ❤️ You all. I really mean it

We have such nice people who post here

[KingsX]

The ‘Big Six’ Tax Plan Would Raise Taxes on Many Seniors and Blind Americans

http://www.insidesources.com/big-six-tax-plan-raise-taxes-many-seniors-blind-americans/

[RoosGirl]

Married seniors or blind Americans could see tax hikes if they make between $28,000 and $51,000.

 

[Frank Cannon]

The ‘Big Six’ Tax Plan Would Raise Taxes on Many Seniors and Blind Americans

http://www.insidesources.com/big-six-tax-plan-raise-taxes-many-seniors-blind-americans/

Besides @RoosGirl brilliant find about the blind who can see, I noticed something interesting about the writers of this brilliant brilliant piece of shit.....

About the Author
Alex Rowell and Harry Stein
Alex Rowell is a research associate at the Center for American Progress. Harry Stein is the director of fiscal policy at the center.

Wonder what the Center for American Progress is? Sounds very serious and non biased. Let's take a look, shall we....

The Center for American Progress was begun in 2003 with funding from philanthropists Herbert M. Sandler and Marion O. Sandler[1] It is a Washington, DC-based liberal think tank created and led by President and Chief Executive Officer John D. Podesta, the head of Barack Obama's presidential transition team after the 2008 election and former Chief of Staff for President Bill Clinton.

In 2009 CAP's Progressive Media project emerged as a major communications war room on behalf of Obama's domestic and foreign policy agenda and CAP became a strong advocate for escalation in Afghanistan. Progressive Media is run through the Center for American Project Action Fund, the more political 501(c)4 arm of CAP. It coordindates closely with the Common Purpose Project, an effort to create message discipline among the pro-Obama organizations, with a direct tie to the White House.

CAP is the parent organization of Campus Progress. The Center publishes a daily emailed Progress Report, described by the National Review to be "The most aggressive, most energetic opposition research in politics."

https://www.sourcewatch.org/index.php/Center_for_American_Progress

You are an effing fraud and a Commie Pinko stooge @KingsX . Your bullshit might play to the half dozen Progressive retreads that follow you on Fakebook, but it ain't ever going to play here.

BTW if you are going to infiltrate a Right Wing site you should know that Conservatives are about 20X more intellectual than the trash you circulate with and will investigate articles like this. You should probably not out yourself with such blatant brain dead  Leftist posts.

[KingsX]

This year [2017] under current IRS rules, a single senior over age 65 gets $11,950 tax exempt then pays a 10% tax rate... the projected amount for 2018 [increased for inflation] is $12,250 tax exempt then 10% tax rate.

The GOP has proposed $12,000 tax exempt then a 12% tax rate... which would increase taxes on low income single seniors.

But posters here have the same mentality as the GOP who proposed their tax cuts for the rich and tax INCREASES on those who can least afford it... they just don't give a damn and the poor, old and blind can "eat cake."

[Frank Cannon]

... they just don't give a damn and the poor, old and blind can "eat cake."

Cake is for people with money. These deadbeats can eat shit.

[RoosGirl]

[Frank Cannon]

Add 30 years to that and it is probably you today.

[truth_seeker]

KingsX wants more of others' cake.

Wealth envying liberal, posing as a conservative.

[KingsX]

Cake is for people with money. These deadbeats can eat shit.

It's a famous reference to the French Revolution.

When rich French aristocrats were told the poor French people had no bread to eat... they mocked and said,  "let them eat cake."

After it was all said and done... "Madame Guillotine" made sure numerous rich aristocrats never ate again.

Personally,  I've always preferred fictional tales about the courageous English aristocrat,  the "Scarlet Pimpernel",  who cleverly rescued many French aristocrats from certain doom.

But since I've been on this forum, more and more  I have come to understand why the whole mess began.

[RoosGirl]

Add 30 years to that and it is probably you today.

Damn scrait.

[RoosGirl]

It's a famous reference to the French Revolution.

When rich French aristocrats were told the poor French people had no bread to eat... they mocked and said,  "let them eat cake."

After it was all said and done... "Madame Guillotine" made sure numerous rich aristocrats never ate again.

Personally,  I've always preferred fictional tales about the courageous English aristocrat,  the "Scarlet Pimpernel",  who cleverly rescued many French aristocrats from certain doom.

But since I've been on this forum, more and more  I have come to understand why the whole mess began.

it's funny you should mention the Scarlet pimpernel, because Frank is actually going to be a Scarlet Pimp for Halloween.

[Frank Cannon]

it's funny you should mention the Scarlet pimpernel, because Frank is actually going to be a Scarlet Pimp for Halloween.

I love the outfit, but hate the shoes. I'm a Jeffery West whore myself...

[RoosGirl]

I love the outfit, but hate the shoes. I'm a Jeffery West whore myself...

I think those shoes will go fine with your outfit.  That pointed toe will really elongate your leg.

[Frank Cannon]

I think those shoes will go fine with your outfit.

They actually go better with my fitted slate gray Brooks Brothers suit.