Retiree COLA for 2022

[jsburger]

COLA increase for 2022 is 5.9%. This is the largest increase since 1982. So social Security will increase by 5.9%. From what I have been able to find Medicare will only go up $9.00. That means we will see almost all of the raise in Social Security. Average Social Security increase is $93.

Also, military and VA compensation will be 5.9%. Civil Service retirement under CSRS is 5.9% (my wife). Civil Service under FERS (me) is 4.9% due to the law when they instituted the FERS retirement system for Civil Service employees back in the 80's. Any increase over 3% under FERS is reduced by 1%. There is a bill in Congress now to eliminate that off set.

[garys]

And, when the actual final inflation rates are tallied up, you can expect them far beyond that 5.9%, so you will have less real money next year than you had this year.

[Hobbyman2]

garys post
And, when the actual final inflation rates are tallied up, you can expect them far beyond that 5.9%, so you will have less real money next year than you had this year.
[/quote]
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+1

[dusty]

And, when the actual final inflation rates are tallied up, you can expect them far beyond that 5.9%, so you will have less real money next year than you had this year.

AND we don't yet know how the tax rates are going to change. Tax just the rich or tax all of us.

[DLB]

And, when the actual final inflation rates are tallied up, you can expect them far beyond that 5.9%, so you will have less real money next year than you had this year.

AND we don't yet know how the tax rates are going to change. Tax just the rich or tax all of us.

I agree with Gary, real prices for everything seem to be up much more than 5.9%. In the real world, you can't tax just the rich. Example: I received my property tax estimate for a rental property months ago, reflecting an increase near 40%. I immediately increased the rent by just under 10%, which won't quite cover the increase, when I was planning for no increase this year. The consumer is paying most of the tax increase in the inflated rent price. It looks like inflation, but it is taxes. Works the same for corporations large and small, if the government increases taxes on corporations and I see increased prices at corporations like Amazon, Walmart, HD, Exxon, Kroger, etc., who do we think is paying those taxes?

- David

[wa2crk]

The wife and I were just at grocery store and she picked up a package of two filet mignon steaks. The price was $24.99 per pound. I don't buy that cut but it just seemed outragious
Bill V

[garys]

How much have gas prices risen? More than 5.9%. How much have car prices risen? More than 5.9%. How much have lumber prices risen? More than 5.9%.
I could keep asking these stupid questions all day and the answer is the same.

[Majones1]

One of the wonderful things about this ShopSmith forum is that U.S. politics is almost always avoided. The focus on ShopSmith, woodworking, woodworking tools, and things associated with those subjects helps to keep this a forum for us to come together to further our enjoyment of this field. I know that many of us here have strong opposing views on issues that we see severely divide our nation, but the discussion of those topics does not add to our experience as woodworkers, and can divide and destroy our forum. I have appreciated the congenial guidance and discussions we have here, even when one of us (sometimes me ) might be doing something stupid (or just uneducated). So I would encourage us all to keep this in mind when we feel the urge to respond to a discussion that may not itself be political, but has the potential of sliding into that realm.

This discussion is one of those. The OP of this topic began in a manner that invited dialog on a community topic, and the developing discussion successfully avoided divisive politics, but then there was a point at which that changed and friendly “dialog” would be difficult to impossible to maintain. Most of politics in our country appears to be two sides yelling past each other, and mostly trying to offend, and in that environment dialog is impossible.

Please let’s keep that out of our forums. Thank you.

[bainin]

I wrote and rewrote a response to the obvious politically motivated response on this thread, and ultimately decided
not to post anything. Its a skill others should learn to exercise.

Marc your reminder is much more eloquent than mine would have been.

I'm goin back in the shop-

b

[Majones1]

I have long experience in another organization that takes some pride in keeping its focus away from outside influences, and have seen unfiltered Facebook discussions divide and destroy trust in some of its leadership, primarily because of their loudly expressed views on that forum. Reining that in, once it has begun to be widespread, seems to be impossible. Now, years later we’re still struggling to recover from that.