Reply #10: The COLA formula is a sham...

[Iowa]

It does not reflect the true cost of living, and everybody knows it. If we had an honest COLA formula, and the cost of living had truly gone down, I don't think anyone would be complaining about this. Actually, with an honest COLA formula, there would be increases next year. And I-Bonds wouldn't be at zero % (this impacts investments too), and TIPS wouldn't be in negative territory. And wages, which are often based on the COLA, would be higher. What we're seeing here is theft by computation. This is the easiest form of theft because it's very gradual and difficult for the public to see. But it involves the theft of MASSIVE amounts of money, and a great deal of that money is finding its way into the pockets of the wealthiest among us.

Fix the COLA formula, remove the cap on FICA payments, restore taxes on the highest earners to where they were during 50s, increase inheritance taxes on estates worth more than _______ (pick a number), and move to single-payer health care. Taking these steps would solve many of the problems this country faces.