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HomeOff Topics News & Politics › social security boost......retiree GL
10-30-2013 08:40 PM  5 years agoPost 1
es1co2bar3

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winnetka california

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Social Security benefits to go up by 1.5 percent

WASHINGTON (AP) - Social Security benefits will rise 1.5 percent in January, giving millions of retired and disabled workers an average raise of $19 a month to keep up with the cost of living.

The increase is among the smallest since automatic adjustments were adopted in 1975, and reflects the fact that consumer prices haven't gone up much in the past year. The annual cost-of-living adjustment, or COLA, is based on a government measure of inflation that was released Wednesday.

"Yea. Whoop-de-do," said Lance Colvin, a retired office worker in Kirkland, Wash. "That's my opinion."

Automatic COLAs were adopted in 1975 so that benefits for people on fixed incomes would keep pace with rising prices. Some advocates for older Americans, however, complain that the COLA sometimes falls short, especially for people with high medical costs.

Michael Hartzog of Charleston, S.C., said the small COLA will make it difficult to keep up with his wife's medical bills.

"We'll probably need to reduce our spending even more," Hartzog said. "I don't know exactly how."

Hartzog, 63, is retired after working 38 years at the Social Security Administration in South Carolina. He said his federal pension and Social Security benefits are affected by the COLA.

DENNIS] let me know how you'll spend my tax dollars work a day and collect the rest of your life
God bless america

Hartzog, 63, is retired after working 38 years at the Social Security Administration in South Carolina. He said his federal pension and Social Security benefits are affected by the COLA.

The COLA affects benefits for more than one-fifth of the country: nearly 58 million Social Security recipients, as well as benefits for millions of disabled veterans, federal retirees and people who get Supplemental Security Income, the disability program for the poor.

Social Security pays retired workers an average of $1,272 a month. A 1.5 percent raise comes to about $19.

Benefits are based on lifetime earnings. The more you make, the higher your benefit — to a point. For someone who retired this year at age 66, the maximum monthly benefit is $2,533. That person will get a raise of about $40 a month.

The amount of wages subject to Social Security taxes is also going up. Social Security is funded by a 12.4 percent tax on the first $113,700 in wages earned by a worker, with half paid by employers and the other half withheld from workers' pay.

http://t.money.msn.com/business-new...030&id=17050623

I was waiting on some honey but there aren't no Queen bee,

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10-30-2013 08:46 PM  5 years agoPost 2
Dennis (RIP)

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Oregon

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DENNIS] let me know how you'll spend my tax dollars work a day and collect the rest of your life
You can bet on that.

I am still shopping for a new lounge chair.

To bad your are to lazy to participate and pay your fair share.

Liberty once lost, is lost forever.

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10-30-2013 08:48 PM  5 years agoPost 3
spaceman spiff

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Tucson

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Hmmmm. 1200$ a month? 30 days in typical month, my favorite golf course is 40$.... 30x40=1200

It's a miracle! A sign from God!! Spend esco's money on the golf course!!!

Thanks man!

Redistribution works for the old white golf addict. Hehehehe. Sucks to be you kid!

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10-30-2013 09:18 PM  5 years agoPost 4
spaceman spiff

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Tucson

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In summer when it is too hot to go play I can run off to Scottland! Or Denmark Wooot!

Too bad none of those lovely folks in washington can even talk about a budget, much less any long term planning. Just crazy spending and stupid ideas. Oh well. Your loss.

Hey! What are you doing here? Get back to work! Obama needs your money! Slacker!

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10-31-2013 03:55 AM  5 years agoPost 5
Dblex

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Texas

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Highly Medicated for your protection......

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10-31-2013 04:06 AM  5 years agoPost 6
Dennis (RIP)

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Oregon

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It'll be nice to see any raise in my social security. I plan to use it wisely.

There is a downside for the rest if you though. Remember what happened last year? Social security recipients got a 1.5% increase. Then, shortly after that, everyone got a 2% tax increase on their payroll checks cutting their take home pay.

Expect the same thing to happen again.

Liberty once lost, is lost forever.

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10-31-2013 10:08 AM  5 years agoPost 7
Mike0251

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Hills of the Blue Ridge VA

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I'd be willing to state the following.
Dennis has:
Paid more into SS that he will ever get back.
Paid more into SS than Esco has ever paid in taxes.
Deserves every GD bit of it coming to him as well as every one of us citizens that have and continue to pay into SS.
And Esco for the record I would be willing to take a lump 25% of what I have paid into it and you can strike me from the program completely.

ps. Headed back to your homeland once again next month. As usual, we will be bringing things for the unfortunate ones as we always do.
What do you do for your unfortunate friends here or there?
Oh crap that's right, you live in your big house here and play the system for your unfortunate situation...and spew garbage on a daily basis.

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