The idea you propose is a good starting place for discussion though, and a great way to get people talking about how we can make Social Security COLAs fairer and more adequate for everyone!.Small market. The companies controlled drugs through a closed distribution system or specialty pharmacy where the drugs could not be obtained through normal channels or other means..According to TSCL's 2021 study of typical retiree costs, the average Medicare recipient can expect to spend more than ,000 per month on healthcare costs this year. Considering that the average retiree benefit is just ,550 per month, that doesn't leave much wiggle room for everything else in a year of spiraling inflation. Paying for food gasoline, or home and auto insurance is more challenging this year than it has been in 13 years..The following Members of Congress, among many others, will be holding town hall meetings in the days ahead: Reps. Diana DeGette, Lynn Jenkins, Gary Palmer, Tom Rice, Todd Rokita, Steve Cohen, David Valadao, Steve Womack, Susan Brooks, Randy Hultgren, Lamar Smith, Eric Swalwell, Marc Veasey, and Rep. Ed Perlmutter..punitive tax penalty..This week, one new cosponsor Senator Dean Heller signed on to Senator David Vitter's Notch Fairness Act. Senator Heller is currently the bill's only cosponsor..What you can do: Members of Congress are more likely to re-think voting for legislation when they see a large number of seniors are adamantly opposed to cutting COLAs. Add your name to TSCL's Social Security Fairness Petition. Have your costs jumped this year? Send us an email telling us your story.."The 6.7 percent increase in the Part B premium is the largest since 2006 for a year in which a COLA is payable," Johnson says. There have been bigger jumps in Part B premiums as recently as 2016 and 2017, but those were two years in which there was no or almost no COLA paid. This situation can cause unusually high Part B premium spikes..In making the 1977 changes, Congress, wanting to avoid an abrupt change, allowed persons born from 1917 through 1921 to use a special transitional benefit formula or the new 1977 formula, whichever would yield the higher of the two benefits. The transition benefit formula never delivered the promised benefit protection, however, because it did not yield a higher benefit amount. Instead, the new benefit formula most often yielded the higher amount.

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"Greenspan Calls For Repeal Of All The Bush Tax Cuts," Sewell Chan, The New York Times, August 6, 2010..And remember, there is no plan anywhere on how to shore up Social Security, even if the Payroll tax deferment is not made permanent..Uncertain: 17% … Continued

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Earlier this year, after passing a .9 trillion tax bill in December and a .3 trillion spending package in March, leaders in the House called for a vote on a balanced budget amendment to the constitution that could have been disastrous for your Social Security and Medicare benefits. The amendment ultimately failed in the House, thanks to the voices of concerned citizens like you, but many lawmakers have said they aren't giving up on the drastic measure..TSCL is pushing for "The Notch Fairness Act" legislation that would give Notch Babies born from 1917 through 1926 their choice of a lump-sum of ,000 payable in four annual installments or an improved monthly benefit. This legislation is now estimated to cost billion. Sponsorship of this legislation is building steadily, but we need your help. Please contact your Representative and ask for his or her support of "The Notch Fairness Act,"..According to TSCL's Senior Surveys, more than half of retiree households pay taxes on Social Security benefits. The new tax law did not change the income thresholds that subject Social Security benefits to taxation. Taxpayers with incomes in excess of ,000 or ,000 pay taxes on as much as 50% of Social Security benefits. For taxpayers with income exceeding ,000 and ,000, up to 85% of Social Security benefits may be taxed. Rather than paying quarterly estimates, taxpayers may use Form W-4V to withhold a flat rate from Social Security checks: 7%, 10%, 12%, or 22%. … Continued

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