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Social Security provides an essential foundation to American's retirement plans, but it simply was never designed to be the sole source of retirement income. Social Security replaces about 40% percent of earnings of the typical retiree. TSCL believes that today's retirement crisis calls for more adequate, not reduced, benefits..The "Medicare Notch" could affect a growing number of people if inflation remains unusually low while Medicare premium increases are relatively high. With no COLA in 2011 as the Social Security Trustees predict, people protected by the hold harmless provision in 2009 would continue to pay .40 per month, people who enrolled in 2010 would continue to pay 4 because now they would be protected by hold harmless, but new enrollees in 2011 would pay an estimated 0 per month..May 2007.According to the Senate Special Committee on Aging some drug companies share this common business model which is leading to huge price spikes:.Those members up for re-election would have used the recesses for campaigning, but campaigning has also been totally changed because of the pandemic. It is likely we will see even more campaign ads on TV this fall but who knows? There is no playbook for these circumstances, and everyone is still trying to figure it out..Keep up with the latest. Follow TSCL on Twitter and Facebook.."Medicare Beneficiary Savings and the Affordable Care Act," Department of Health and Human Services, February 201"Reliance on Capital Gains and Dividend Income Tends to Rise with Age," Tax Foundation, December 2005..Your thoughts on this matter can sway votes in Congress. Contact your Members of Congress. Letting each of them know what you think about debt limit deals that would cut "entitlements" like the Social Security cost-of-living adjustment, or trim benefits in other ways..However, what the CBO report apparently does not point out is that major corporations in this country pay no taxes at all. That is happening because of the way the laws are written.

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You can use the Social Security Administration's earnings test calculator to see how earnings could affect your benefit payments..Costofliving adjustments are falling to anemic lows again in 201Seniors and the disabled will learn the 2013 increase on October 16, 2012, but TSCL expects the increase will be about 1.1%. That would raise the average monthly benefit .80 from ,126 to ,141.80 hardly enough to offset big expected spikes in food costs which are rising twice as fast. The rapid increase in home heating fuels and prescription drug costs also outstrips the COLA as well..The big concern is that per capita caps and block grants won't keep pace with the real growth in costs in state Medicaid programs - especially since the reimbursements formulas would be tied to the rise in inflation. Actual medical costs are expected to grow several times faster than reimbursements. States could be forced to reduce spending on older people and younger disabled adults, who account for a disproportionately large share of Medicaid spending. States could tighten eligibility, reduce non-mandatory benefits like your home caregiving program, and nursing home reimbursements, or otherwise ration care. … Continued

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When it comes to the Social Security cost-of-living adjustments many, if not most, of you say that you feel the government is cooking the inflation data. The COLA seldom seems to reflect the growing costs you experience. Two factors are to blame; the choice of a consumer price index used to calculate your COLA, and the methodology that our government uses to calculate price inflation to begin with..The answer depends upon whether you start your benefits before or after your full retirement age - which in 2017 is 6When you start Social Security benefits before your full retirement age, you will be subject to the Social Security earnings test. The earnings test can cause Social Security to withhold your benefits if you earn more than the annual exempted amount. In addition, your initial retirement benefit will be permanently reduced, because you started Social Security prior to your full retirement age. It pays to wait until 6Here's why:."TV Ad's Flo Speaks For Drug Companies," Harry F. Rosenthal, The Associated Press, October, 30 1999. … Continued