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Many seniors and their advocates say the monthly increase isn't enough to keep up with the rising cost of living.

Senior citizens will get only a small boost in Social Security benefits in 2025

Senior citizens will get only a small boost in Social Security benefits in 2025

CNN,发布于领英

Farhan Ahmad MSF

Strategic Finance Advisor | Specialist in Asset Management & International Real Estate Management.

1 个月

It's time for the U.S. to recognize that the Social Security model cannot last forever. The system is simply not sustainable in the long run. The real issue lies in the massive debt left by previous generations—debt that is nearly impossible to pay back. As the national debt grows, it puts immense pressure on programs like Social Security. Future generations are being asked to carry a burden that was created decades before them. We need to rethink how we approach these systems, especially when the financial realities of today are so different from those of the past.

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Kenneth Stremsky

proud citizen of the United States of America. Tried to take my photo at night and it looks like Solar Eclipse.

1 个月

2019 - Over 60 percent buying power loss of money since 01/20/1981. Bureau of Labor Statistics Inflation Calculator - https://www.linkedin .com/pulse/over-60-percent-buying-power-loss-money-since-bureau-labor-stremsky/ In 2019, needed over $700 to buy what $250 could buy in January 1981. Need over $900 now to buy what $250 could buy in January 1981. MARKET FAILURES AND REDUCING POVERTY GLOBALLY https://www.linkedin. com/pulse/market-failures-reducing-poverty-globally-kenneth-stremsky/ Part 1 of Rich people - Instead of a Wealth tax. Better ways you may help people and planet. Response to I'm in the 1 Percent. Please, Raise My Taxes https://www.linkedin. com/pulse/rich-people-instead-wealth-tax-better-ways-you-may-help-stremsky/ https://www.dhirubhai.net/pulse/how-payoff-national-debt-posted-42-part-plan-twitter-stremsky/

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Chuma Okafor

Full-Stack Software Developer with experience in Java 8, Spring 5, Hibernate, MyBatis, Microservices, SQL, NoSQL, AWS & MS Azure. Available for full-time / contract, W-2 employment. Based In Atlanta, GA. US Citizen

1 个月

Love this a little bit

Michael Ellis

Manager Facilities Management (Retired) at Toronto Police Service. Advisor, Police Facilities,development, design & operations

1 个月

It’s not just in the USA. Let’s face reality, us old folks may be around for one or two more election cycles while younger voters will be around for many more. So appeal & cater to the younger voters we will simply become a burden on them. Oh! that’s likely to piss off younger voters. Maybe the government should rethink their strategy. Perhaps the Republicans have the answer, do away with Social Security, out of sight out of mind. However, that would put even more strain on younger voters. Oh, I forgot after this election, if Mr. Trump wins, there won’t be anymore elections, so problem solved. That’s the, “Land of the free”.

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Kenneth Stremsky

proud citizen of the United States of America. Tried to take my photo at night and it looks like Solar Eclipse.

1 个月

Over 2 trillion dollars of national debt is owed to Social Security. Over 80,000 people died waiting to see an Administrative Law Judge - Fiscal Years 2006 -20017 - Actuarial Note 159 from Social Security from May 2018. Many years more people died in a year waiting to see an Administrative Law Judge dealing with Social Security than died on 9/11. People in their 20s, 30, 40s are more likely to become disabled than die. Financial Transactions Taxes should be used to pay back money owed to Social Security. 2011 Pay Back the Money Borrowed From Social Security Sen Don Riegle and Lori Hansen Riegle - Huffington Post https://www.dhirubhai.net/pulse/improving-social-security-disability-saving-lives-kenneth-stremsky/ Social Security tax should be placed on all wages people make in a year. Federal government and state governments should stop stealing from people. The federal government and state governments should stop taxing money people get from Social Security. The retirement age should not be increased. A sales tax of at least 2 percent should be placed on minerals mined in USA. Congress should increase funding to Social Security Disability so it is able to employ more people and have more Administrative Law Judges.

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Danny Alvarez

Neurophysiologist at Clinical NeuroDiagnostics

1 个月

Interesting. A small boost is better than no boost at all in these days. However the “small boost” does not meet the generalized increase in yearly Cost of Living Assessment (COLA). increases. The retirement community has paid taxes for decades. And we expected one able to live comfortably, not have family, friends, and government agencies pick up the slack.

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Kenneth Stremsky

proud citizen of the United States of America. Tried to take my photo at night and it looks like Solar Eclipse.

1 个月
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Allen Walker

PMI MEMBER, PMP Certified / CPM Certified / CSM ScrumMaster Certified / Electrical Consultant / Quality Agent*Non-profit* (NUAD) Neighborhood United Against Drugs Philadelphia Pennsylvania

1 个月

I need a place to live besides renting a room. The house all gone up as food, gas, groceries, water, electricity ?? ?? ?? hmm

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