Posts Tagged ‘social security’

The Consumer Price Index or CPI…

June 22, 2011

Previously, I have mentioned that the Inflation number that the “government” uses is too low.  I have also said that the government has a VESTED interest in this number remaining low.  This post does not mean to single out one political party over another, as they BOTH do this manipulation.  I am merely using the current administration as an example, because they are the current administration.

Please read this article from Dow Jones as posted on the NASDAQ website.  And this one is a follow up from Zerohedge.  Below are a few quotes:

“Those talks involve Democratic and Republican lawmakers from both chambers and are led by Vice President Joe Biden.”  See, both sides are involved.  It appears as though Vice President “The new sheriff in town” Biden, the one that was over seeing TARP so that NO money was “misused”, is proposing the changes.

“Such a move is widely seen by economists as resulting in a slower rise in inflation. That would impact an array of federal programs that are linked to CPI including the Social Security program and income tax brackets set by the federal government.”  This means that two things WILL happen.  1)  Social Security payments will not rise as quickly, most likely TRAILING real inflation, and 2)  the changes in Income Tax Brackets will not rise with inflation (meaning when you tell your boss that you need more money to survive, and they give you a “raise” (LOL, sorry), that you will be paying more in taxes).  I call this a STEALTH TAX.

Lawmakers are considering changing how the Consumer Price Index is calculated, a move that could save perhaps $220 billion…”  This money comes from YOU!!  This comes from any “program” that is indexed to the CPI.  The main one being Social Security.  This is NOT a “tax on the RICH”!!  This is a tax on average America.  But the politicians are trying to get away with this “manipulation”, without calling it a TAX.  The Government is AGAIN attempting to manipulate the numbers, so that what they ARE doing looks better.

Here is some talk about the changes to the CPI calculation.  And here is an analysis that puts the current CPI well above 5% from Shadowstats

I will say it again, the Government has a VESTED interest in the “reported inflation rate” remaining low, not 0% or below.  The number that they “use” IS incorrect as it relates to average America, and the errors benefit the Government ALWAYS!  We need to remove this system from the control of corrupt/ignorant politicians.  Go back to the original formula.  Do not let them have the power to change it.  MAKE them live with the same Inflation that WE are experiencing!

Social Security???

May 12, 2011

Is Social Security going to be available when YOU retire??  That is ONE question that every American should be asking.  Another is, Will I get out of Social Security ALL of the money that I have donated, plus interest?  Is Social security solvent?

To be honest, I do NOT know the answers to the previous questions, but I have my doubts.  The doubts are what make me and MANY Americans nervous and angry. 

Another issue that I see with Social Security, as it is administered today, is that it is subject to the WHIMS of politicians attempting to buy reelection.  Or subject to politicians making cuts, as in NO COLA (Cost of Living Adjustments) for the past two years.  Does ANYONE believe that the cost of living, for people that rely on Social Security, has NOT gone up for the past two years??  When the cost of gasoline has increased more than 100%, or prescription drugs (or insurance to cover prescription drugs) have had drastic increases, or the cost of food is at the highest it has been EVER?

I have always offered to give up EVERYTHING that I have paid into Social Security, IF I could then invest my employers portion and my own portion into an account that BELONGS to ME!!  I think that EVERYONE needs to read this article from Forbes, that details the experience of three Texas Counties that opted OUT of Social Security. 

There ARE solutions to fix the fiscal problems/disasters that we face!!  Our representatives need to look at ideas that HAVE worked!!

Call your representatives!!  They will only ACT if they hear you!!