Social Security Cost-of-Living Adjustment for 2022 Is 5.9%

wawazat

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Every "kid" dumb enough to call it an "entitlement" in front of me gets an earful. Like you, I had that **** taken from my paychecks my entire working life (and they are STILL taking it). I am old enough to draw now, and I want MY money back.
Any time I argue for killing SSI, it is never because I want people to lose what they paid in. The government cant touch anything involving money without screwing it up royally. I want us all to get the money we have paid in to date back so we can roll it into a non-government managed retirement account. Pick a birth year 3 years from now that will cease paying in and call it good. We will get better returns, American business will get a hell of a lot more funding and the government can kick rocks for trying to hold us hostage in a broken system.
 

Jack Shootza 50

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Largest cost of living increase in 40 years. Too bad the increase won’t cover the actual inflation increases.
And it Sure sounds a lot like the 70s, at least the cluster related to uncontrollable cost increase in everything. Only difference now is interest rates haven’t started to sky rocket yet.


lark.com StaffOctober 13th, 2021
The Social Security Administration (SSA) just announced a major year-over-year rise in monthly benefits for Social Security and Supplemental Security Income (SSI) recipients.

The October 13 announcement of the 5.9% hike in benefits is the largest cost-of-living raise in nearly 40 years.

Here’s Your Social Security Cost-of-Living Raise for 2022

The SSA says the 5.9% cost-of-living adjustment (COLA) will begin with benefits payable to Social Security beneficiaries in January 2022. Increased payments to SSI beneficiaries will start at the end of December 2021.


The average monthly Social Security check in June 2021 was $1,555 for retirees, according to the SSA. That means the 5.9% increase next year will translate to approximately an extra $92 in an average check each month. You can view your COLA notice online through your my Social Security” account.

COLA is based on the Consumer Price Index for Urban Wage Earners and Clerical Workers(CPI-W), a broad measure of the price of food, energy, health care, housing, transportation and more.

In years when there is no inflation, there is no increase in benefits. However, benefits are never reduced if there’s no inflation.

Historical Cost-of-Living Adjustments From the Social Security Administration

You can see the full history of cost-of-living adjustments here.
It don't matter worth a rip, it's already been sucked up and then some by the IDIOT and his mob of morons and criminals "Make America Broke" agenda.
 

StLPro2A

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They’ll just raise the price of Medicare so they can claw that COLA back.
And, I pay taxes on 85% of my SS!!!! One always loses with the government.
First American Revolution over taxation without representation.
Second American Revolution over taxation BY representation, and a plethora of other tyrannical transgressions.....long past due.....we just keep digging the hole deeper.
Caution what one asks for.
 

StLPro2A

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Any time I argue for killing SSI, it is never because I want people to lose what they paid in. The government cant touch anything involving money without screwing it up royally. I want us all to get the money we have paid in to date back so we can roll it into a non-government managed retirement account. Pick a birth year 3 years from now that will cease paying in and call it good. We will get better returns, American business will get a hell of a lot more funding and the government can kick rocks for trying to hold us hostage in a broken system.
Hold your breath til you get that check back...and then get back to us. There is no money. Government raided the "lockbox" back in Johnson's Administration and left worthless paper IOUs. Biggest theft disguised by biggest Ponzi Scheme in history of the world.
 

wawazat

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Hold your breath til you get that check back...and then get back to us. There is no money. Government raided the "lockbox" back in Johnson's Administration and left worthless paper IOUs. Biggest theft disguised by biggest Ponzi Scheme in history of the world.
Oh, I am very aware.

My point was only to clarify that I dont see it as an entitlement for citizens, I see it as embezzlement by the Federal government.
 

TerryMiller

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Oh, I am very aware.

My point was only to clarify that I dont see it as an entitlement for citizens, I see it as embezzlement by the Federal government.

Every now and then, someone in OSA will chime in with some comment about "ending the Social Security entitlement." I have to remind them that those of us collecting our SS retirement "benefits" do so in order to get our money back. Actually, ours and the funds that our employers chipped in to match what was deducted from our pay.

If anything, the only "entitlement" in Social Security is to those that never worked a day in their life but draw SS disability. Some years back, the wife and I went to the SS office in Chickasha for some reason. Out of 8 people in the waiting room it was myself and one other elderly lady that "had some age on us." The other six were there for disability issues or to get medical treatment approved (or something like that.) The little elderly lady looked at me with a look of bewilderment.
 

Chief Sapulpa

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