With inflation rampaging across the U.S. economy, USA Today reports, Social Security recipients can expect a 2022 cost of living adjustment (“COLA”) of up to 10.5%.
For victims of the New-Deal-Era Ponzi scheme, which offers a measly return on “investment” (paid for, like all Ponzi payouts, from new revenues), and which mostly functions as a way of subsidizing the retirements of longer-lifespan white middle-class women at the expense of shorter-lifespan black low-income men, a raise is always good news.
Well, almost always.
Other things will likely be going up as well, including those same seniors’ Medicare Part B and Part D payments (Part D increased by 14.5% this year, while the Social Security COLA was only 5.9%).
And other things won’t go up. For example, the amount of income seniors can have before that income starts getting taxed, or the amount below which they receive adjusted Medicare and prescription drug benefits for “low-income” retirees.
In at least some cases, the COLA may end up costing seniors more than they get. As Martin Luther observed of certain people in his Commentary on the Sermon on the Mount, government’s “giving is of such a character, that the right hand gives, but the left hand takes.”
The best solution to this problem, of course, would be to get America off the government “giving” merry-go-round,…
