Uncle Sam has loudly and proudly announced a 2% increase for all Social Security recipients for 2018.
Uncle Sam has NOT loudly and proudly announced the 23% ($25.00 per month) increase for Medicare premiums. 70% of S.S. recipients pay $109.00 per month and this will rise to $134.00 per month in 2018.
The average S.S. check is $1,371.00 per month and will increase $27.00 to $1,398.00 for an annual increase of $324.00.
Now subtract the Medicare increase of $25.00 and the S.S. check in now down to $1,373.00 or a net gain of $2.00 per month.
For many recipients the annual increase of $324.00 will be subject to State (where applicable) and Federal taxes. Considering the net annual increase is only $24.00, any State or Federal taxes will wipe out the $24.00 and thus result in a NET LOSS of income for year 2018.
Best Regards from,
Going backwards in income
14 comments:
while congress dithers
The Medicare increases are due to Obamacare. It's in the bill that had to be passed before it was read. So any increase you can thank the democrats and any republican who opposed Repeal and Replace.
Actually it was "loudly" and while not "proudly announced" it was announced and "loudly" by the Republicans who opposed Obamacare. The increases are because of Obamacare.
I love people who use math to validate their research. Good for you!
Wonder what welfare recipients pay?
You hear congress pander to every group except those on Social security who have already paid into the system for 50 years.
Yep. Raid it while youre alive, baby boomers! Screw all future generations. Worst generation in history, not one tear will be shed at their extinction.
1225:
1 tequila
2 tequila
3 tequila
FLOOR!
HAPPY TGIF is much better than knowing we will have less next year!
12:42
Nothing. They get it all for free. Free medical, Free housing, Free phones, Free food and the community takes pity on them and gives them free school supplies and free Christmas presents. Isn't life grand. When the woman can no longer pop out a few more welfare babies and has no skills at her age to support herself she waits for her kids to pop out a few and she takes them in as foster children and makes even more money than she did raising her own. Meanwhile you get the bill for all of this.
Couldn't agree more with 1:16
I am part of what they call the baby bust generation. Those born after 1960. I know personally that by the time I retire, there will be nothing. What little pension I have has already been taken, and I'll be lucky if there is still any Social Security. I'm one of the first generations where my parents actually had it better than me. No more cradle to grave jobs. Few jobs that pay benefits, or even success sharing bonus, like I had when I started my job back in 1984. Back then, health insurance was covered 100 percent along with dental and life insurance. If I want these kinds of benefits today, I have to pay mostly out of pocket for this. We even had a 50 percent company match dollar for dollar on our 401K's to encourage people to save. Those who retired back in the nineties before Nafta, had the golden parachute. I, along with most of my generation have jack S**T.
What little I have is what I saved and some of that took a big hit when the great recession started in 2008. So I totally agree with you. For the most part I won't shed a tear either. They also helped to create some of this mess with their social engineering of the 1960's. Programs that helped to destroy the family. You wanted change, so you got it. Hope your happy, because those who came after you are now paying the price!
This by the way is the generation of Bill and Hilary! Goodbye and good riddance!
Don't leave out the illegals getting the same as welfare recipients all for free and both these groups get a lot more in their checks to.
Actually SS is going broke due to the massive increase in SS disability payments under Obama's 8 years in office.
Thanks alot 1:16
What's he talking about? Medicare Part B is already $134.00 a month, and more if you exceed a certain income level. Go to the Medicare website if you want facts.
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