COLA Goes Flat (no pun intended)

[FAB1]

As Expected, COLA Goes Flat for 2010


Finalizing what has been apparent for a number of months, the government has announced that no COLA will be paid under federal retirement or Social Security in January, since the inflation count for the pertinent measuring period finished in negative territory at -2.1 percent, following a 0.1 percentage point rise in September in the inflation index used to calculate the COLAs. That means that benefits in both programs will be frozen, although they will not be reduced. The White House and some in Congress are pushing for a one-time payment of $250 for Social Security beneficiaries in lieu of a COLA. Retirees not eligible under Social Security, including CSRS annuitants, were included in a similar earlier payment that was designed as an economic stimulus measure and likely would receive the same amount, possibly in the form of a tax credit.

 

[nnuut]

So they will give us a one time $250, and then raise BASIC Social Security from $96 a Month to $116 a Month!!
$250 after US Taxes at 15% = $212.50 State Taxes + Sales Taxes = about $191 Clear.
$120 a year raise in Social Security from $191 = $71 clear
If you file Jointly that's double that!!! OH, YEAH that's $142 a year or $11.83 a month for Joint filers!, before taking inflation into account, but there is NO INFLATION this year!!:suspicious:

 

[The HalfBreed]

So, we can call it the UN-Cola.