tag:blogger.com,1999:blog-19246708.post5319566642560881358..comments2024-03-29T08:44:53.158-04:00Comments on Social Security News: Resistance To Chained CPIUnknownnoreply@blogger.comBlogger14125tag:blogger.com,1999:blog-19246708.post-86534487220208116912013-03-12T09:10:28.089-04:002013-03-12T09:10:28.089-04:00Why don't we stick to whether going to the cha...Why don't we stick to whether going to the chained CPI is good or bad, or whether it can pass the Congress or not, instead of debating what "cut" means? Why don't we also refrain from name calling, which doesn't accomplish anything?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19246708.post-31234714449838795622013-03-11T20:50:24.444-04:002013-03-11T20:50:24.444-04:00So why is the federal pay freeze called a freeze a...So why is the federal pay freeze called a freeze and not a cut? Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19246708.post-22740379543064544192013-03-11T19:45:53.566-04:002013-03-11T19:45:53.566-04:00Refusing to call the chained CPI proposal a cut is...Refusing to call the chained CPI proposal a cut is more representative of climate change deniers that mathematicians. People are sick of hearing common words misused to fit in with a stilted tea party perspective.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19246708.post-24730615658746602632013-03-11T18:57:12.198-04:002013-03-11T18:57:12.198-04:00Current law requires that Social Security payments...Current law requires that Social Security payments keep up with inflation so that the real dollars available remain constant through a person's retirement (or disability or survivors) years. Changing the law so that the benefits are reduced is called a cut. People who rely on the checks call it a cut because they fall further behind in the real cost of living every year. Congress calls it a cut because they use such proposals to reduce the deficit. Economists call it a cut because it puts less money into the economy restricting growth. Taxpayers call it a cut because it reduces spending and pressure for revenue increases.<br /><br />I can't think of any reputable group that doesn't call it a cut. When someone is promised a certain amount in benefits, and then a change is made in the law so that they receive less, it is a cut, contraction, reduction, or removal of a part, especially when inflation causes the value of the resulting benefit to be further reduced.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19246708.post-72231130898871793972013-03-11T18:09:14.659-04:002013-03-11T18:09:14.659-04:00Calling someone a nitwit because they state a math...Calling someone a nitwit because they state a mathematical fact is typical pseudo-intellectual left-wing reaction. The people are wising up.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19246708.post-72903030961256179542013-03-11T11:11:51.180-04:002013-03-11T11:11:51.180-04:00a reduction in future benefit increases is a cut, ...a reduction in future benefit increases is a cut, you nitwit.<br /><br />i'm guessing you're a austrian economics type thinker, so you should be well aware of (likely scared to death of--afraid to sleep due to that hyperinflation just around the corner those of your ilk have been saying is just around the corner for years now--BUY GOLD!) inflation. i'm leaving it there, just mentioning inflation--that should be sufficient to see what my argument is.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19246708.post-31888766077588144472013-03-10T16:53:13.859-04:002013-03-10T16:53:13.859-04:00The "new American dream" is living off t...The "new American dream" is living off the govt dole. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19246708.post-27370299962051089322013-03-10T12:44:59.711-04:002013-03-10T12:44:59.711-04:00"A reduction in future increases is not a cut...<br />"A reduction in future increases is not a cut".<br /><br />No matter how a person chose to interpret cpi. One thing is clear to me. Poor eldely and the poor disabled individuals will have less income to spend on their critical needs getting further in debt as the rich profit.<br /><br />The new american dream.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19246708.post-80295769541902321952013-03-10T11:40:20.692-04:002013-03-10T11:40:20.692-04:00A reduction in future increases is not a cut. Peop...A reduction in future increases is not a cut. People are getting sick of listening to this constant misinformation from the left. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19246708.post-73102331916076021982013-03-10T10:45:40.939-04:002013-03-10T10:45:40.939-04:00The reduction of benefits is why I am against use ...The reduction of benefits is why I am against use of the chained CPI. The BLS has an experimental CPI index for the elderly (CPI-E), and it gives values higher than the CPI currently used. So if you want inflation adjustments to be more accurate (the usual claim of advocates of the chained CPI), use the CPI-E or similar index, which would give higher, not lower, COLAs.<br /><br />If the chained CPI is applied uniformly (not just for SS), it would also result in higher income taxes, because the boundaries of the tax brackets would increase more slowly. Tax increases due to the CPI change under Obama's proposal ($100 billion) would be almost as high as benefit cuts ($130 billion). Mike B.noreply@blogger.comtag:blogger.com,1999:blog-19246708.post-50964378918588644702013-03-10T10:15:20.813-04:002013-03-10T10:15:20.813-04:00What is the problem with the chained CPI? Besides...What is the problem with the chained CPI? Besides the fact that it will reduce future benefits, are there any other reasons why it is so unattractive? Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19246708.post-84237597363203702672013-03-10T08:08:48.735-04:002013-03-10T08:08:48.735-04:00I think the chained CPI is a bad idea that should ...I think the chained CPI is a bad idea that should be abandoned, not made more palatable. Increasing the first bend point does not help the poorest, who are those below the current first bend point. It helps everyone except those (which includes a lot of low-income people, just not the lowest). <br /><br />Reducing benefits for high-income people has been suggested as a fix, and could be done directly without changing the CPI measure. But there's not that much money at the top, so you'd have to also cut benefits for middle income people to get significant savings. <br /><br />If and when a fix is needed, I think it is better to increase revenue rather than decrease benefits, either through gradual, modest increases in the payroll tax or raising of the cap, or some combination.Mike B.noreply@blogger.comtag:blogger.com,1999:blog-19246708.post-45948732641405698812013-03-09T15:28:12.883-05:002013-03-09T15:28:12.883-05:00There are ways to make chained CPI more palatable....There are ways to make chained CPI more palatable. <br /><br />Adjust the benefit formula by changing the bend points. Increase the figure for 90% of AIME upward and even expand the 35% bend point and then lower the 15% at the top end to 10% to make up for the cost of increasing the bend points below. Or keep the 15% up to a much higher bend point and make it 10% or less after that. It can be done so as not to harm the poorest and reduce the benefits for the highest earners by only a modest amountAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19246708.post-13188775637964594292013-03-09T12:19:29.238-05:002013-03-09T12:19:29.238-05:00Millionares(including mr obama) reducing poor peop...Millionares(including mr obama) reducing poor people social security would not surprise me. It's the wrong thing to do. If the usa had not entered into war especiallly under george bush,this country would be alot better now.<br /><br />Mr obama game of golf with tiger woods says alot and was a disgusting event. I'm a<br />black democrat.Anonymousnoreply@blogger.com