Most Americans contribute 6.2% of every paycheck to Social Security, but due to the taxable maximum earnings cap, wealthy individuals earning more than 8,500 pay nothing above that amount. Do you support increasing or eliminating the maximum taxable earnings limit to make the program more solvent?.In 2012, the GPO reduced by two-thirds the Social Security benefits received by nearly 600,000 surviving spouses who also collect a government pension. Nine out of 10 public employees affected by the GPO lose their entire spousal benefit, even though their spouse paid Social Security taxes for many years..Those participating in The Senior Citizens League's annual senior survey, which is still being conducted, confirm that monthly household expenses made steep increases over the past year, far in excess of the dollar amount that their COLAs increased benefits. The 2.8 percent COLA raised the average Social Security benefit of ,400 by about per month this year. Yet more than 78 percent of survey participants report that their household spending rose by more than .00 per month in 201"When costs climb more rapidly than benefits, retirees must spend down retirement savings more quickly than expected, and those without savings or other retirement income are either going into debt, or going without," Johnson says..Like the enormous sword of Greek legend hanging by a single hair above the head of Damocles, the U.S. Totalization agreement with Mexico continues to remain hanging over our nation's Social Security program. The agreement has not yet undergone final approval, but its fate has far-reaching implications for the benefits of 53 million U.S. Social Security beneficiaries..Of concern to Social Security recipients, however, are not only what categories and items are included in the CPI, but also whose market basket the government is surveying, and the fairness of the "weight" or estimate of the portion of income they represent that the Bureau of Labor Statistics assigns..However, some advisors have said it would be unwise for Biden to clean house. The board currently has four Republican governors, two Democratic governors and three vacancies..This week, seven new cosponsors signed on to the Social Security 2100 Act, bringing the total up to eighty-four. The new cosponsors are: Reps. Luis Gutierrez, Marc Veasey, Lucille Roybal-Allard, Eddie Bernice Johnson, Chellie Pingree, Joyce Beatty, and Peter DeFazio..Retirees frequently say that their annual cost-of-living adjustment does not adequately keep pace with rising costs. To learn if this is the case, this study, now in its eleventh year, looks at 40 expenditures that are typical for people age 65 and up, comparing the growth in the prices of those goods and services, to the growth in COLAs..TSCL's annual senior survey, conducted from January through March of this year, confirmed that monthly household expenses made steep increases over the past year. The majority, 67%, indicated their monthly expenses went up by more than With today's Social Security benefit averaging ,320 per month, this is an unsustainable level of rising spending when there's just a 0.3% benefit increase to match.

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This study has found that Social Security benefits tend to lose buying power over time, because prices of the goods and services most frequently purchased by older Americans tend to increase more quickly than the COLA. In this year's study, price data indicate that Social Security benefits lost 30 percent of buying power since 2000. The 2020 findings represent an improvement in benefit buying power of 3 percentage points from January 2000 through January 2020. Several items came down in price, particularly electricity, as well as a few food items including fresh fruits and vegetables..Give it a fresh coat of paint. Paint not only looks good, it can help cover other problems - like water damage, smoke stains, and scuffs that have accumulated over the years. It's especially important to make repairs of holes in the wall, deal with mold in bathrooms, basements and closets, and to get rid of wallpaper. Use light-colored neutral tones that blend well with everything. It's also important to paint or power wash the exterior of your home. If you worry about your painting skills, or the amount of time you have to do the job, hire a professional - a bad job can do more harm than good..What we hope is that we will spur you to take action and make a difference in helping us protect, preserve, and improve the programs you depend so much on: Social Security, Medicare and Medicaid. … Continued

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Lawmakers Work Towards Omnibus.Social Security beneficiaries receive a small automatic increase in their Social Security checks most years, intended to help their benefits keep up with rising costs. But since 2000, COLAs increased benefits a total of just 43 percent while typical senior expenses have jumped 86%. When costs climb more rapidly than benefits, retirees must spend down retirement savings more quickly than expected, and those without savings or other retirement income are either going into debt, or going without..Because the Democratic majority in the House is so slim, lawmakers are approaching legislation with an eye on the elections next year. Democrats, especially those facing tough reelection fights in swing districts, will face enormous pressure from the powerful drug lobby to oppose the bill. … Continued

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