must be nice to be on a "fixed" income, but get a 8.7% raise. I don't know any working individual that is getting close to this and this is nearly double what is being proposed for employees.
People working have the same expenses as those that don't. We feel the impact of inflation the same. Why isn't the working wage increasing 8.7% as well???
I challenge you to trade places with someone on a low fixed income and then let us know how sweet that 8.7 really is!
While I agree those of us working deserve a better increase, to compare it to someone on a program like SSA or SSI is ridiculous and doesn’t help your argument.
Everytime there's a cola, someone on here is whining about how "sweet it must be". Sure. Just become disabled, have horrible health problems, try to live on about $1,400 a month and enjoy the dream!
When I worked at wal-mart, starting wage was minimum wage, but the average annual raise $0.50/hour (technically it was $0.40 to $0.60, varying based on performance). That was precisely a 6.06% raise at the time. An 8.7% "raise" of a fixed income in one year is not unreasonable, and this will pretty much be the first year that COLA would even arguably exceeded private wage growth in decades. Also, people on disability and retirement have objectively greater costs of living than workers due to medical costs. To the extent that inflation is felt the same, sortof, workers have the opportunity to obtain new sources of income whereas the disabled don't and the retired generally don't.
I think federal employees are tired of almost always getting less of a COLA than the actual cost of living. Obama didn't give any raises for a few years. Feds needed to set an example in tough times. It's much easier to make one's bills with a salary vs SSA but year after year of not getting a full COLA is a bit discouraging. One doesn't feel that appreciated when they get a 2 percent cut every year.
Q: "I wonder how much of this will be eaten up by increased Medicare premiums."
A: Wonder no more, your Medicare Premium will drop $5.00 a month!
Comment: "Obama didn't give any raises for a few years. Feds needed to set an example in tough times. It's much easier to make one's bills with a salary vs SSA but year after year of not getting a full COLA"
Response: 1. Social Security recipients do not get performance awards nor step/grade increases.
O2. Obama, experienced an economic recession and sequestration during his tenure, along with 2010 Tea Party lawmakers intent on reining in government spending and often targeting the federal workforce in their deficit-cutting efforts.
FFS. social security law for about 50 years has provided that the real value of social security benefits remain constant. Another way of saying that is social security benefits are adjusted for inflation. If inflation is 2%, benefits increase 2%, if it’s 9%, then benefits rise 9%. If inflation is 0, then benefits stay the same. This has happened automatically for 50 years. Before that Congres. Would vote every several years to raise benefits to compensate for previous years price increases. It’s one reason this entire program is such an important part of ensuring retirement security.
You wrote the same thing on the last post about the COLA, almost word for word. Your negativity is rather blunt and sharp edged at the same time.
Those on SSA of any kind are not banking the money and rolling in it for kicks. I don't know why people think that SSA Retirement, SSDI and SSI is enough to live comfortably on. Recipients NEED the COLA, and rarely, if not ever, enough to cover the costs of the basics and rising costs of such items. If SSDI was perfect, it would keep everyone at or slightly above the poverty line. So, 9:35, stop griping. You're making more working than SSA recipients will possibly ever make again in their lifetime.
@9:25AM, I see you are trolling. You said these exact words a couple weeks back and you were met with a lot of counter comments. Wages eventually catch up to inflation. The yearly COLA is the only way SS/SSDI catches up; it's on a yearly basis.
Note that there have been no changes in all 50 states for Medicaid income limits to account for this rather large COLA. This 8.7% will knock some people out of other benefits they are receiving, like Medicare Part B Premium Assistance, LIS, and others. The costs of losing those benefits will far outweigh the 8.7%.
must be nice to be on a "fixed" income, but get a 8.7% raise. I don't know any working individual that is getting close to this and this is nearly double what is being proposed for employees.
ReplyDeletePeople working have the same expenses as those that don't. We feel the impact of inflation the same. Why isn't the working wage increasing 8.7% as well???
I challenge you to trade places with someone on a low fixed income and then let us know how sweet that 8.7 really is!
DeleteWhile I agree those of us working deserve a better increase, to compare it to someone on a program like SSA or SSI is ridiculous and doesn’t help your argument.
Everytime there's a cola, someone on here is whining about how "sweet it must be". Sure. Just become disabled, have horrible health problems, try to live on about $1,400 a month and enjoy the dream!
ReplyDelete@9:35
ReplyDeleteAverage COLA for past 5 years is 4.06%
When I worked at wal-mart, starting wage was minimum wage, but the average annual raise $0.50/hour (technically it was $0.40 to $0.60, varying based on performance). That was precisely a 6.06% raise at the time. An 8.7% "raise" of a fixed income in one year is not unreasonable, and this will pretty much be the first year that COLA would even arguably exceeded private wage growth in decades. Also, people on disability and retirement have objectively greater costs of living than workers due to medical costs. To the extent that inflation is felt the same, sortof, workers have the opportunity to obtain new sources of income whereas the disabled don't and the retired generally don't.
I think federal employees are tired of almost always getting less of a COLA than the actual cost of living. Obama didn't give any raises for a few years. Feds needed to set an example in tough times. It's much easier to make one's bills with a salary vs SSA but year after year of not getting a full COLA is a bit discouraging. One doesn't feel that appreciated when they get a 2 percent cut every year.
ReplyDeleteI wonder how much of this will be eaten up by increased Medicare premiums.
ReplyDelete@3:19PM. None will. Biden has already announced a drop in premiums for 2023. They're going down to $164.90.
ReplyDeleteQ: "I wonder how much of this will be eaten up by increased Medicare premiums."
ReplyDeleteA: Wonder no more, your Medicare Premium will drop $5.00 a month!
Comment: "Obama didn't give any raises for a few years. Feds needed to set an example in tough times. It's much easier to make one's bills with a salary vs SSA but year after year of not getting a full COLA"
Response:
1. Social Security recipients do not get performance awards nor step/grade increases.
O2. Obama, experienced an economic recession and sequestration during his tenure, along with 2010 Tea Party lawmakers intent on reining in government spending and often targeting the federal workforce in their deficit-cutting efforts.
@9:35AM The average wage increased by 8.89% last year.
ReplyDeletehttps://www.ssa.gov/oact/cola/AWI.html
Higher wages do not mean that employees got an 8.89% COLA. Some changed jobs. The increase is over 2020 when a large number were out of work.
DeleteFFS. social security law for about 50 years has provided that the real value of social security benefits remain constant. Another way of saying that is social security benefits are adjusted for inflation. If inflation is 2%, benefits increase 2%, if it’s 9%, then benefits rise 9%. If inflation is 0, then benefits stay the same. This has happened automatically for 50 years. Before that Congres. Would vote every several years to raise benefits to compensate for previous years price increases. It’s one reason this entire program is such an important part of ensuring retirement security.
ReplyDelete@9:35
ReplyDeleteYou wrote the same thing on the last post about the COLA, almost word for word. Your negativity is rather blunt and sharp edged at the same time.
Those on SSA of any kind are not banking the money and rolling in it for kicks. I don't know why people think that SSA Retirement, SSDI and SSI is enough to live comfortably on. Recipients NEED the COLA, and rarely, if not ever, enough to cover the costs of the basics and rising costs of such items. If SSDI was perfect, it would keep everyone at or slightly above the poverty line. So, 9:35, stop griping. You're making more working than SSA recipients will possibly ever make again in their lifetime.
@9:25AM,
ReplyDeleteI see you are trolling. You said these exact words a couple weeks back and you were met with a lot of counter comments. Wages eventually catch up to inflation. The yearly COLA is the only way SS/SSDI catches up; it's on a yearly basis.
Note that there have been no changes in all 50 states for Medicaid income limits to account for this rather large COLA. This 8.7% will knock some people out of other benefits they are receiving, like Medicare Part B Premium Assistance, LIS, and others. The costs of losing those benefits will far outweigh the 8.7%.
ReplyDelete