First Soc Sec increase since 2009...comes in an election year

[Immy]

What a surprise!

 

[olroy70]

We all knew we didnt deserve one, because the cost of living hasnt gone up for years!!!!!!!!!

easy, if ya dont eat or buy gas!!!!!!!!!

 

[ivan salis]

what with the shrinking value of the dollar / raising cost of stuff --and with all the massive spending the govt has done since the 2009 elections --you mean they will give folks on SS a paltry 3 % rate increase? - guess what the cost of living has sure went up over 3% since the 2009 elections -- so they are just throwing the "old dogs' a bone in a election year - hoping "the old dogs" will forget the fiscal beatings of the last 4 years done by the masters and they hope they will now lick the masters hand rather than bite it off come election time as they have to "pet" the dog (get the public's vote) once every 4 years.

 

[Jeep]

Great at 3.6% it's just enough to pay more taxes and less take home

 

[mrs.oroblanco]

I'd love to blame it on the politicians, I really would. But, the calculations for a COLA is a law that has been around for many years, 1973. (and, they had to calculate it as of the last time there was a raise.)

http://www.ssa.gov/oact/COLA/latestCOLA.html



Jeep,

I don't understand your post - how does the COLA affect your taxes and take-home pay? Government job?

Bth

 

[Jeep]

I'd love to blame it on the politicians, I really would. But, the calculations for a COLA is a law that has been around for many years, 1973. (and, they had to calculate it as of the last time there was a raise.)

http://www.ssa.gov/oact/COLA/latestCOLA.html



Jeep,

I don't understand your post - how does the COLA affect your taxes and take-home pay? Government job?

Bth

http://www.ssa.gov/planners/taxes.htm

 

[Chug And Red]

Red, Says Thank For the Extra 35.00, It Might Pay for Something!!!! Chug

Problem Is that the Cost Of every thing Is Going Up Except Wages!!!! The 1.00 an hour raise i got in July Is gone Because of the cost of everything!!!!

Good Luck squeezing Anything Else From Them!!!! Chug



I'm Bad!!!!


Is there Anything Lower the Almost Homeless, Besides Homeless Or Dead!!!! Damn I went there!!! Chug

 

[Red James Cash]

I hope everybody is smart enough not to fall for this B.S. OHHHH we'll give you a very small increase to your S.S. but were going to find another 100 different ways to screw it back out of you with interest

 

[mrs.oroblanco]

Jeep,

That site pretty much just parrots what I've already said. It's not just pure SS. If you make more money, you pay more taxes.

That's the way it should be, shouldn't it?

Hey - $35.00? I got $36.00.

And, I still don't pay an "extra" on my SS earnings. (of course, I do on my other stuff). You still only pay taxes - maybe - on 50% of your earnings.

What other source of income can you have, where you can get tax-free money? (laughing at that, since we paid taxes on it when we earned it).

It always seems to be the folks that make 3+ more times than I do that complain.

Beth

 

[ivan salis]

tax free ? you must be joking --my SS money is called "income" on the irs tax forms -- I paid in for it with money that was already taxed to be able to get it , now when I get it back , I got to pay takes on it , a second time for getting the money back. (and the govt got to hold that money as a "interest free" loan the whole time and when I finally applied for it , it only took 3 1/2 years of fighting the govt tafter finally getting a honest judge -- I was paid my back money "the govt owed me" -- interest free , of course -- now let me owe them money for 3 1/2 years and see how much it cost me ) -- so the grubbermint gave folks a tiny % boost , -- ah thats your grubbermint at work for you .-- how pitiful and sad.

ps the lump sum they paid me due to "back pay owed" at last also boosted me into a very high tax % bracket --so a lot of what i got in back owed money --had to be paid out in "taxes" , right back to the grubbermint

 

[Frankn]

Yea 3.6% and then they raised Medicare to get most back. Frank

 

[mrs.oroblanco]

They raised Medicare $2.00. That's the best since........................uh - I cannot remember.

Beth

 

[mrs.oroblanco]

Ivan,

The difference is "earned" or "unearned" income on your IRS tax form.

And, you don't pay taxes on all that. (if you are, get a new tax preparer). You subtract 50% off the top. (of course, the amount you get determines some of that, like, if its over $34,000 a year, for last year).

And, even that 50% is not what you pay taxes on - that's gross. You still subtract you, dependents, your personal deductions (or itemized, if you do that), before it reaches your "net taxable income".


Beth