There has been no Cost of Living Adjustment for Social Security in 3 years. All the talk about changing the way the cost of living is calculated fails to mention that. People on Social Security don’t have to wait for it to get worse.
On top of that Medicare premiums have increased – and that comes out of your Social Security payment.
People on Social Security also got a tax increase last year. The Making Work Pay tax credit applied to some people on Social Security. The so-called payroll tax holiday doesn’t apply to people on Social Security. So 2010 saw a tax hike for people on Social Security.
Everyone on Social Security is already paying more while trying to get by on a fixed income, though in reality it’s a shrinking income.
I sure hope those billionaire hedge fund managers don’t have trouble getting by.
Did I mention that Social Security doesn’t contribute to the deficit? Cutting benefits won’t cut the deficit by one penny.
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