Due to the predicted low inflation rates, the COLA (Cost of Living Adjustment) for Social Security will be historically lower than ever before. The increase is estimated at a 1.5% at this time. About 58 million retirees and disabled people receive Social Security. The increase will correspond to a average month increase of $17. This has caused the recipients to complain because they worry about wiggle room in their checks.
The low inflation rates are good because it means that the cost of living has not gone up very much. It is slightly bad for the people receiving Social Security because they will not get much of an increase. However they should be happy that there is an increase at all.
http://www.usatoday.com/story/money/business/2013/10/13/social-security-raise-to-be-among-lowest-in-years/2975567/
I feel bad for some of the people who will be affected but not all of them. Veterans, especially injured and retired, are some of the most worthy people in our country and we are eternally in their debt for putting their life on the line for our safety. I have absolutely no problem with paying a little bit more on my taxes if I know that is where the money is going. It sickens me to see that the other two categories of people are even in the same program as injured veterans. While I'm sure they need help I would much rather increase the pay for the vets instead of them.
ReplyDeleteI would gladly pay more on taxes if I knew that the money was going to people who risked their lives to allow me to have the freedoms that I have today. In my personal opinion, serving your country is one of the greatest honors a person can have. If i knew the money was going there I would have no issue with it. When the money goes to people who are willingly on welfare is when I start to have an issue. Keyword: willingly
ReplyDeleteTechnically, if the numbers are truly accurate, the people receiving benefits should be fine. The increase in payment is supposed to be proportional to inflation. Less inflation = less payment. the point is to provide a consistent amount to live, not to have a boundless supply of spending money furnished by taxpayers.
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