Future Social Security benefits could be cut, taxes raised by proposed inflation measure
November 7, 2011 at 7:09 am in Grand Forks Herald
Just as 55 million Social Security recipients are about to get their first benefit increase in three years, Congress is looking at reducing future raises by adopting a new measure of inflation that also would increase taxes for most families the biggest impact falling on those with low incomes. Continue Reading
SS is just a Ponzi scheme.
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“Many economists argue that the chained CPI is more accurate because it assumes that as prices increase, consumers switch to lower cost alternatives, reducing the amount of inflation they experience.”
This is unbelievable logic. According to this reasoning if I can afford to buy a new car every five years and the price of cars goes up to the point where I have to ride a bike or walk, the inflation didn’t hurt me. I’m saving money! If the cost of medical care rises so rapidly that I avoid the doctor after breaking my arm, it isn’t calculated as inflation, because I’m not really spending the money for the medical services anyway! I don’t care which party this is coming from. It is screwed up thinking.
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Social security has absolutely nothing to do with the debt or the deficit.
Social security will not be in trouble for at least 25 years and maybe only then because of the republican greed, i.e., shipping our Living Wage Jobs over seas. The unemployed pay little to no money into Social Security.
All this S/S ‘problem’ is, is more republican greed by taking even more money away from the common workers and giving it to the already very well off.
Social Security was set up and still operates as insurance for when a person retires. It is no Ponzi scheme.
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