SENIOR CITIZENS LEAGUE "Defending your Earned Benefits"
Your 2008 COLA could be less than 1.5%-but what percentage will Congress pay themselves?
They receive a 4% or 5% COLA while you get 2% or 3% and their annual income increases by thousands of dollars while seniors receive only a few hundred extra dollars.
Can we tell the Congress that we would like a COLA exactly the same as the one they receive?
The recent Medicare changes mean almost every cent of the increase will be eaten up by your annual medicare premium increase
IT IS LIKE THEIR WILL BE NO COLA FOR MILLIONS OF SENIORS
ANOTHER FAR MORE ACCURATE COLA CALCULATION METHOD THAT WAS SPECIALLY DESIGNED FOR SENIORS
Seniors are being shortchanged
Any Senior on Social Security "known as Notch babies" gets an average of 97 dollars less than it ought to be.
Subscribe to:
Post Comments (Atom)
2 comments:
As a Senior retired in 1984 I have lost more than $14,230. In 2006 $97 less which would more than cover the Medicare Part B premium
None of the articles on this subject that I've seen talk about the "means testing" Congress passed that takes effect Jan 1, 2008. For 2008, my monthly social security benefit will be $19 LESS per month despite the 2.3% "raise." This is because the "Modified Adjusted Gross Income" (MAGI) calculated from my 2006 federal tax return exceeds the $82,000.01 threshold for a single taxpayer. MAGI is comprised of: adjusted gross income, (which INCLUDES any social security benefit) PLUS tax-exempt interest, capital gains, IRA withdrawals, and more. Congress, which over the lifetime of the Social Security program, has spent every dollar - Trillions! - collected from workers and employers on a wide variety of expenditures, has now chosen to reduce social security benefits for anyone who had the temerity to earn a pension, and/or save for retirement. Means testing benefit pay out reductions increase the difference between gross social security receipts vs. a vs. total benefit pay outs. Thusly the "excess collection" Congress so gleefully spends each year is increased...earmarks anyone?
Benefits received at 62, and until you are Medicare eligible, are not reduced by Medicare premiums. Two points to be considered: (1) It's never too soon to start retrieving the money the government extracted from your paycheck over your lifetime, (2) Between "means testing" and increasing Medicare premiums, you can't really predict how much your Social Security "benefit" will be.
In my opinion, The Social Security program is at best, a huge fraud/Ponzi scheme perpetrated by the Congress.
12/30/2007 11:52:24 PM
Recommend (0) Report Abuse Discussion Policy
Post a Comment