C. O. L. A. Increase


This from the Christian Science Monitor:

The exact size of the COLA is yet to be determined, but it should be somewhere between 3.5 and 3.7 percent, according to a new report from the American Institute for Economic Research (AIER), a nonprofit research group based in Barrington, Mass.

COLA is a measure that ensures Social Security benefits keep pace with inflation.

Full disclosure:  Mrs. Chief & I both receive a monthly deposit in our accounts from Social Security.

Along the same line of Social Security, Robert Samuelson had this story up at The Daily Beast/Newsweek site.  Mr Samuelson keeps bringing up the same lame reasons for saying that Social Security is “welfare” for us old folks.

 

I left this comment:

You are mixing or comparing apples and oranges when you say “Exempting them from cuts—as polls indicate many Americans prefer—would ordain huge deficits, steep tax increases, or draconian reductions in other programs.”

The funds needed to send a monthly check/stipend/whatever to those folks that worked all of their lives and played by the rules should have been put back by preceding congresses and administrations.

As far as I’m concerned, we should (1) cut a very bloated Dept of Defense and (2) go back to 1960 personal and corporate income tax rates.

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