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View Diary: The Thing About Social Security (178 comments)

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  •  All told, chained CPI raises average taxes by (1+ / 0-)
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    tardis10
    about 0.19 percent of income. So, taken all together, it’s basically a big (5 percent over 12 years; more, if you take a longer view) across-the-board cut in Social Security benefits paired with a 0.19 percent income surtax.

    You don’t hear a lot of politicians calling for the drastic slashing of Social Security benefits and an across-the-board tax increase that disproportionately hits low earners. But that’s what they’re sneakily doing when they talk about chained CPI.

    The intention is to apply the Chained CPI Index to ALL federal transfer programs (Social Security, Soc Sec Disability, VA Disability, the Tax Code, etc.)

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