“How record Social Security cost-of-living adjustment will be impacted by high inflation, Medicare premiums”

“How record Social Security cost-of-living adjustment will be impacted by high inflation, Medicare premiums,” by Lorie Konish, CNBC

  

Quote:

“A 5.9% increase to Social Security benefits next year will be the highest in four decades. Yet inflation is climbing at a faster pace year-over-year at 6.8%, according to the latest Consumer Price Index data. Larger monthly checks may not offset the pressures of higher day-to-day prices, Medicare Part B premiums and taxes on benefits.”

 

LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:

Inflation is the cruelest tax of all, quoth Milton Friedman. So much for the fantasy that the Administration will only tax incomes of $400K and above.