Stay in Touch
Get sneak previews of special offers & upcoming events delivered to your inbox.
Sign in
12-13-2016 10:28 AM - edited 12-13-2016 10:35 AM
I have read that a change in the way the cost of living is calculated is under considereation. The cost of living formula considers elements of Americans cost of living that are not as relevant for most seniors. The new formulation would account for seniors' spending habits versus the spending habits of younger people. http://blogs.wsj.com/experts/2015/10/20/how-social-security-unfairly-calculates-the-cost-of-living-f...
12-13-2016 10:32 AM
Wait to see what happens with the new adminstration.
12-13-2016 10:36 AM
@Mindy D wrote:I have read that a change in the way the cost of living is calculated is under considereation. The cost of living formula considers elements of Americans cost of living that are not as relevant for most seniors. The new formulation would account for seniors' spending habits versus the spending habits of younger people.
Can you remember where you read that? From what I've read, there's another way to calculate the COLA which will hurt seniors more than the present method.
12-13-2016 10:38 AM
@hopi wrote:Wait to see what happens with the new adminstration.
I'm afraid of this. I feel like I am a pariah to many because I am collecting my benefits.
12-13-2016 10:38 AM
@Maudelyn wrote:Increase the social security payroll tax cap. MIllionaires and billionaires pay no social security tax on any earned income over $118,500. That needs to end. Those who can well afford to contribute to the system that helped create their wealth need to pay more.
ITA .... I'm not sure there should be any "cap" at all! The laws need to be updated.
12-13-2016 11:31 AM
@Mom2Dogs wrote:....plus income tax is paid on your S.S.....wasn't tax paid on it at the time is was earned.......we are taxed to death.
------------------------
That has always been my understanding! I do consider it a double taxation system and unfair!!
Get sneak previews of special offers & upcoming events delivered to your inbox.
*You're signing up to receive QVC promotional email.
Find recent orders, do a return or exchange, create a Wish List & more.
Privacy StatementGeneral Terms of Use
QVC is not responsible for the availability, content, security, policies, or practices of the above referenced third-party linked sites nor liable for statements, claims, opinions, or representations contained therein. QVC's Privacy Statement does not apply to these third-party web sites.
© 1995-2024 QVC, Inc. All rights reserved. | QVC, Q and the Q logo are registered service marks of ER Marks, Inc. 888-345-5788