The Cost of Beans
If you’re called old, a snowbird, a blue-hair, and the latest … a boomer … you’re probably on Social Security and Medicare. Even if you’re not collecting yet, there are things you should be aware of. That said, how many of you collecting Social Security and Medicare have ever done the math?
I just read and perused 3 articles on SS and Medicare. What really stood out in this one article was a complete lack of knowledge and understanding of the two systems and how they, and others, are intertwined. Simply blatant disregard for facts. But I have provided a link below to an article that is truthful and factual.
Since 1950 Social Security has risen 43% and Inflation 48%. The article indicated that SS was keeping up with the cost of inflation and how excellent that was. But then another article says that in 2 decades inflation has increased by 60%. And allegedly inflation rose 5.9% in September 2021.
Everything involving the Government and politics is a numbers game. Gov. Nelson Rockefeller told me this one day many years ago. He, of course, was correct. Sitting here on the mountain watching the sunrise I will attest to this.
Here’s what really stood out though. The author of this article concluded that a difference of only 5 % was minuscule enough to believe that all was copasetic. No problem. But there’s this other little program referred to as Medicare. And of course, double taxation as well. Oopsie.
Medicare is typically deducted from the monthly SS payment. Interestingly, this always seems to work out in the government’s favor. For 2022 SS received a 5.9% increase. For most that would mean maybe $70–80/month, it would seem. Sweet huh?
But here on the Mountain, we figured things a bit more realistically. So before you get ready to spend this huge added income next year on that Tesla you’ve had your eyes on, there’s this. Medicare costs also just went up from $148 to $172. And just prior to that increased from $128 to $148. Shocked? Don’t be. How do good jokes in Congress start? “There’s this pharmaceutical company…”