I hate repeating topics but according to an article I just read, the Federal Government has decided that The retired people should pay more of the deficit. Now People have paid into this fund for more years than they will probably be receiving benefits. As I noted before The elderly have not received and will not receive a raise now for 2 years. Not only does this affect their current costs. Believe it or not every thing has gone up in cost while the Government denies a Cost of Living. Food, Utilities, Food, Gasoline, what has not gone up. That makes them paying for the Bailout.
But two years without a raise goes deeper. An example of this would be…. If you are offered a 10% raise today and a 10% raise in 6 months. Or a 20% raise in a year. Which would give you the best deal? Let’s say you are making $10 an hour now. You get a 10% raise today. You are now making $11 an hour that on a 40 hour week equals $40 extra a week. take that time 26 weeks and you have made $1040.00 during the 6 months. You get your second 10% after that 1st 6 month period. Only now instead of a $1 an hour raise you will get a $1.10 raise now you are making $12.10 and hour a raise for that year of $2.10 an hour.
Say you selected the 20% raise after the year. You have lost that $1040 from the 1st 6 months, and you are only going to get a $2 raise taking you to $12 an hour. In other the no raise for 2 years is carried on forever even if you get a raise the third year because it will be based on the $10 you have been making. Therefore you are still making less. I hope you understand my analogy.
Never mind the Federal Government has for years, decades actually, loaned at no interest to other government agencies who have never paid principal or interest back into the Social Security coffers.
They want to raise the age for full benefits to 69. Use a less generous cost of living adjustment. (Less than a Zero adjustment used now. Does this mean the elderly will have to start paying the government a cost of living adjustment). They want to double the gasoline tax to 15 cents a gallon. Also reduce corporate income tax by 8%, and stop taxing overseas profits of U.S. based multinational corporations.
I think what President Obama’s gang wants is to eliminate the elderly and/0r make them dependent upon their children. After all they are filthy rich and plan to stay that way and take care of their corporate buddies.
That Is How I See It.