The Down Range Forum

Member Section => Down Range Cafe => Topic started by: alfsauve on November 21, 2020, 11:08:43 AM

Title: Social Security COLA
Post by: alfsauve on November 21, 2020, 11:08:43 AM
ATTN:  Social Security recipients and about to be's

Got notice that the 1.3% Cost Of Living Increase will decrease our monthly check by $600/mo!

IN CASE YOU MISSED IT.   Miss Kitty and I will get $600 LESS each month.

Thank you Congress, who's patting themselves on the back for keeping it so low, and for taxing 85% of it.  And for generally screwing up the fund in general.

The take away:  The government giveth the government taketh.   

It's why it's so important to keep harping that the 2nd Amendment isn't a grant by the government, but a limit on government.  We do NOT owe our right to bear arms to anyone.
Title: Re: Social Security COLA
Post by: Timothy on November 21, 2020, 12:24:23 PM
Source?
Title: Re: Social Security COLA
Post by: tombogan03884 on November 21, 2020, 01:16:06 PM
I'd be double checking the crap out of THAT.
Doesn't make any sort of sense that a 1.5 % increase would cause a 50% cut in benefits.
Title: Re: Social Security COLA
Post by: Pathfinder on November 21, 2020, 01:22:16 PM
How does a 1.5% increase cause a $600 reduction in income? Put you in another tax bracket or something?
Title: Re: Social Security COLA
Post by: Rastus on November 21, 2020, 04:16:43 PM
That was my thought.  Tax bracket creep...

Not a problem for me now....nothing to bracket!!  Thanks China you Biden loving bitch.
Title: Re: Social Security COLA
Post by: Timothy on November 21, 2020, 05:23:10 PM
I don’t pay taxes, income tanked syndrome!

What pisses me off is if I make $1 more than my annual allotment of $17,240 in 2020 wages, they take my entire January SS check!

That’s not going to happen...I haven’t been to work since March.

F@*k Congress!
Title: Re: Social Security COLA
Post by: alfsauve on November 21, 2020, 07:47:30 PM
Source?

The email I got from SSA.  My Part B and D increased over $300.
Title: Re: Social Security COLA
Post by: Timothy on November 21, 2020, 08:22:53 PM
The email I got from SSA.  My Part B and D increased over $300.

Do you have a supplement plan?  My wife has A,B and D and doesn’t bother with anything else.  It works for us!

I’m only 63...Romneycare is dirt cheap when your poor!
Title: Re: Social Security COLA
Post by: alfsauve on November 21, 2020, 09:08:18 PM
There's this tricky provision that says if you save your money and invested it wisely we'll double your cost of Part B and charge you for Part D.  IMSAA I think it's called. 

Yes I have Gap coverage, this is the basic SSA coverage.

It wouldn't be as bad if they raised my deductible, but raising my premiums is punitive.
Title: Re: Social Security COLA
Post by: Timothy on November 21, 2020, 09:11:10 PM
Yea, sad that it only barely works if you’re poor!  I’m above the poverty line but not by much!

In a year and a half, my premiums will triple with Medicare alone vs Romneycare!

Title: Re: Social Security COLA
Post by: Rastus on November 21, 2020, 10:43:53 PM
Fixed it for you!!!

There's this tricky provision that says if you save your money and don't piss it off invested it wisely we'll double your cost of Part B and charge you for Part D.  IMSAA I think it's called.  <snip>
Title: Re: Social Security COLA
Post by: alfsauve on November 22, 2020, 07:49:53 AM
Tax exempt income.

State and municipal bonds are tax free to encourage people to buy them.  The state is able to borrow money at lower rates to build schools, roads and infrastructure, and you the earn tax free income, albeit at a lower rate than other investments. 

BUT. SSA, when computing your income, adds your tax free income back into your AGI so they can charge you more. They call it Modified Adjusted Gross Income.


This is irony:  At this holiday season the IRS gives you the gift of the MAGI.
Title: Re: Social Security COLA
Post by: TAB on November 22, 2020, 10:11:48 PM
2 things in life are constant.


Death and taxes.
Title: Re: Social Security COLA
Post by: tombogan03884 on November 23, 2020, 08:31:47 AM
TAB, it's 3, you left out Hydrogen.    ;D
Title: Re: Social Security COLA
Post by: Big Frank on December 14, 2020, 08:43:18 PM
TAB, it's 3, you left out Hydrogen.    ;D

Ain't that a gas. ;D

With the 1.3% COLA increase I'll be clearing an extra $24 a month, or $288 per year. That's 2 months principal payments on my ATV, and I only have to come up with the interest which would be under $40 for 2 months.