Better than nothing I suppose ?

[727Sky]

Social Security Payments Update Coming This Week, and It Could Be Significant
By Jack Phillips
October 10, 2022 Updated: October 10, 2022

https://lists.youmaker.com/links/Z6xMc0w...zjUd71qG1Q



The Social Security Administration is expected to announce its cost-of-living adjustment, or COLA, for Social Security recipients this week—and it could be the largest increase in decades.
Analysts with the Senior Citizens League say the COLA hike will be 8.7 percent to keep pace with year-over-year inflation. Last year, the Social Security Administration announced a 5.9 percent adjustment.
A report (pdf) released by the nonpartisan senior group last month that such an increase “would be the highest ever received by most Social Security beneficiaries alive today.” The official cost-of-living adjustment is usually announced by the Social Security Administration during the month of October.
That calculation is based on the most recent consumer price index data that showed inflation rose 8.3 percent over the past year as of August.
“COLAs are intended to help maintain the buying power of Social Security benefits when prices rise. They are a permanent increase that will gradually boost the total Social Security income that individuals will receive over the course of their retirement,” said the report. “Without a COLA that adequately keeps pace with inflation, Social Security benefits purchase less and less over time, and that can create hardships especially as older Americans live longer lives in retirement.”
Retirees now get a monthly benefit of about $1,656, but the possible COLA adjustment would increase that sum by about $144.10, the Senior Citizens League estimated in its report.
Taxes
But the relatively high COLA could also place some retirees over an income threshold that forces them to pay income taxes.
Mary Johnson, with the Senior Citizens League, told Fox News in July that “there can be some very long-term effects to high inflation COLAs,” adding, “It’s like a no-win situation.”
Higher monthly Social Security payments can also reduce senior citizens’ ability to obtain low-income programs such as the Supplemental Nutrition Assistance Program, or food stamps, Johnson told the outlet. They also might be disqualified from adjusted Medicare health and prescription drug benefits for low-income individuals, she said.
“These are income-based programs,” Johnson told USA Today. “Most, if not all of them, are easily administered through the states. If we’re forecasting a COLA that’s close to 9 or 10 percent, yes of course that’s going to affect, not only your eligibility for low-income benefits, it’s going to for everyone else, for people who don’t get benefits.”
There are “tens of thousands” of retirees, she said, who haven’t ever paid taxes on their Social Security benefits and may have to start doing so for their upcoming taxes due to the pending COLA increase.

https://lists.youmaker.com/links/Z6xMc0w...zjUd71qG1Q

[NightskyeB4Dawn]

Social Security Payments Update Coming This Week, and It Could Be Significant
By Jack Phillips
October 10, 2022 Updated: October 10, 2022

https://lists.youmaker.com/links/Z6xMc0w...zjUd71qG1Q



The Social Security Administration is expected to announce its cost-of-living adjustment, or COLA, for Social Security recipients this week—and it could be the largest increase in decades.
Analysts with the Senior Citizens League say the COLA hike will be 8.7 percent to keep pace with year-over-year inflation. Last year, the Social Security Administration announced a 5.9 percent adjustment.
A report (pdf) released by the nonpartisan senior group last month that such an increase “would be the highest ever received by most Social Security beneficiaries alive today.” The official cost-of-living adjustment is usually announced by the Social Security Administration during the month of October.
That calculation is based on the most recent consumer price index data that showed inflation rose 8.3 percent over the past year as of August.
“COLAs are intended to help maintain the buying power of Social Security benefits when prices rise. They are a permanent increase that will gradually boost the total Social Security income that individuals will receive over the course of their retirement,” said the report. “Without a COLA that adequately keeps pace with inflation, Social Security benefits purchase less and less over time, and that can create hardships especially as older Americans live longer lives in retirement.”
Retirees now get a monthly benefit of about $1,656, but the possible COLA adjustment would increase that sum by about $144.10, the Senior Citizens League estimated in its report.
Taxes
But the relatively high COLA could also place some retirees over an income threshold that forces them to pay income taxes.
Mary Johnson, with the Senior Citizens League, told Fox News in July that “there can be some very long-term effects to high inflation COLAs,” adding, “It’s like a no-win situation.”
Higher monthly Social Security payments can also reduce senior citizens’ ability to obtain low-income programs such as the Supplemental Nutrition Assistance Program, or food stamps, Johnson told the outlet. They also might be disqualified from adjusted Medicare health and prescription drug benefits for low-income individuals, she said.
“These are income-based programs,” Johnson told USA Today. “Most, if not all of them, are easily administered through the states. If we’re forecasting a COLA that’s close to 9 or 10 percent, yes of course that’s going to affect, not only your eligibility for low-income benefits, it’s going to for everyone else, for people who don’t get benefits.”
There are “tens of thousands” of retirees, she said, who haven’t ever paid taxes on their Social Security benefits and may have to start doing so for their upcoming taxes due to the pending COLA increase.

https://lists.youmaker.com/links/Z6xMc0w...zjUd71qG1Q

The joke here is that an extra $150.00 a month will likely get you a loaf of bread, a small jar of jelly, and maybe a small box of powdered milk, taking into account the increased cost of gas, and electricity.

This whole thing is just a Ponzi scheme to put their hands deeper into our pockets. They are going to make us have to depend on  them, suffer, or die. It is going to work, because they have been setting the foundation for this for years. We have played right into their hands, and there just is not enough of us to stop it.

When the time comes, please do not call me a martyr. Just call me a mean, rebellious, defiant, bitch.

[Sol]

Just another way that shows just how our governments work. They give from one hand, looking like they are helping you, all the while robbing you blind from the other hand.

It doesn't matter who is elected. It's always down to the same money grabbing games. In Canada, our inflation rate is around 8.1, gas is way up, groceries are way, way up, shortage of staff everywhere...it's not funny. Those that do work, are overworked and underpaid for what they do.

But they've got our backs. So they say, around election times. ALL of them.

Modern day stings from the higher ups.

Sickening.

.

[senona]

From my experience with Jim, sure they will get a boost in their SS checks......

But they will also take out more for Medicare part B (Insurance)




Every single time Jim would get a tad more in his check, the insurance took out more
So it really didn't do squat to help out 




Hopefully, that won't happen this time, but I wouldn't count on it
Just my humble opinion

[ChiefD]

Yeah, and Medicare premiums will eat some of that up. So yeah, better than no increase at all I guess. Being that my hubby is in a nursing home and I’m a community spouse, that extra money will all go to the nursing home, as they don’t take inflation into consideration and maybe let me live on more than $2800/month gross income. So any increases in his SS, his military pension and my pension go to the NH. I don’t see any of it. I no longer buy meat or produce because that would put me way over my grocery budget. They don’t care about that though. Okay, I’m whining too much. I’ll stop now. 

[Snarl]

This whole thing is just a Ponzi scheme to put their hands deeper into our pockets. They are going to make us have to depend on them, suffer, or die. It is going to work, because they have been setting the foundation for this for years. We have played right into their hands, and there just is not enough of us to stop it.

The gooberment steals (directly) one of every five dollars the middle class earns. They take another one with almost every financial transaction through the increased prices of gas or a sales tax. They get away with this because everyone's wallet is transparent ... and what they see they can take.

I processed a steer this weekend.  Uncle Sam knows nothing about this.

I've got one neighbor who is most likely unaware. Everyone else shares. Everyone else is quite aware.

I've got another neighbor who is getting his John Deere repaired this week on the down-low.

Everyone feels every little win we get out here.

[NightskyeB4Dawn]

The gooberment steals (directly) one of every five dollars the middle class earns. They take another one with almost every financial transaction through the increased prices of gas or a sales tax. They get away with this because everyone's wallet is transparent ... and what they see they can take.



I processed a steer this weekend.  Uncle Sam knows nothing about this.



I've got one neighbor who is most likely unaware. Everyone else shares. Everyone else is quite aware.



I've got another neighbor who is getting his John Deere repaired this week on the down-low.



Everyone feels every little win we get out here.

Mene, mene, tekel, upharsin. I see the handwriting on the wall.

I am tired. Really tired. I don't mind fighting the good fight, but if you find yourself beating a dead horse, your only choice may to be to walk.