Social Security has been a shocking discovery this few mounts. Despite President’s promises, seniors aren’t getting everything they’ve been promised.
It is a huge topic among Americans, as people paid into it with their taxes for decades.
Recently it’s been discovered that the Social Security office itself, uses creative accounting to short change every S.S. recipient in America.
Apparently the Social Security office is calculating your Cost of Living Allowance using some slighted math. They aren’t properly accounting for inflation and are only looking at certain months out of the year. This seems to be a scheme, in order to lower the amount of money they are providing to recipients.
Everything is skimped on, from tax returns, FEMA, Medicare, and Social Security.
…The formula used to determine the Social Security COLA lags behind official inflation numbers…
The COLA is based on the little-followed Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) instead of the ‘headline’ inflation number you read about each month…
…In years where there is deflation instead of inflation, the COLA is set to 0.0% and the formula skips that year in determining the next year’s COLA. We have had two deflationary years in the last 10 years (2009 and 2015), but this ‘skipping’ mechanism has resulted in three years of 0.0% COLAs…
Says Seeking Alpha.
The payouts the American seniors are receiving are much lower than the real cost of living in America and it`s not going to go over well for most Americans.
The main question we are left with is what the solution for this problem is.