General Discussion

nashville_brook

(20,958 posts)

17. they want to cut approx $660/yr if you're 65. at 85 you lose $1,147 a year (it's huge)

Sat Apr 6, 2013, 04:15 PM

Apr 2013

Chained CPI is a benefit cut that gets worse the longer a person is eligible for benefits. The average earner retiring at age 65 would get a $658 cut in annual benefits at age 75, a $1,147 cut at age 85, and a $1,622 cut at age 95. What is far more severe is the cumulative effect of the COLA cut as it compounds over time. The average earner retiring at age 65 would get a cumulative cut of $4,631 at age 75, $13,910 at age 85, and $28,004 at age 95. Proposed increases in benefits at older ages do not adequately compensate for the cut.

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Digby (Remember Her?) ....."Ok, So What Do We Do Now?" [View all] KoKo Apr 2013 OP

yep dembotoz Apr 2013 #1

Yes , the people must not give up riverbendviewgal Apr 2013 #2

K&R nt redqueen Apr 2013 #3

DURec! bvar22 Apr 2013 #4

I think the President is doing this because it's the only bait left that might get Rs to the table. winter is coming Apr 2013 #5

We've known for-fucking-ever that they don't play nice. WorseBeforeBetter Apr 2013 #11

The Serious People seem to be conveniently ignorant. n/t winter is coming Apr 2013 #20

It pays too well not to be. WorseBeforeBetter Apr 2013 #23

K & R !!! WillyT Apr 2013 #6

but we can't tell people to STFU on DU --- against the rules, isn't it? Nt antigop Apr 2013 #7

I need someone to explain timdog44 Apr 2013 #8

Here's an explanation with video Capt.Rocky300 Apr 2013 #9

Thanks for video. timdog44 Apr 2013 #12

The point is this. zeemike Apr 2013 #10

And thank you for the response and example timdog44 Apr 2013 #13

well I decided to look at the last decade hfojvt Apr 2013 #14

So, from you say, timdog44 Apr 2013 #15

actually, to my astonished amusement, it does hfojvt Apr 2013 #19

I guess I had to know timdog44 Apr 2013 #21

they want to cut approx $660/yr if you're 65. at 85 you lose $1,147 a year (it's huge) nashville_brook Apr 2013 #17

Well I have been educated, and thanks to all. timdog44 Apr 2013 #18

Short answer: Obama believes in it duffyduff Apr 2013 #22

It breaks my heart timdog44 Apr 2013 #24

I know how you feel...The thing to remember is this: almost anyone can put a "d" after their name whathehell Apr 2013 #26

I am from just south of Joliet. timdog44 Apr 2013 #27

Hey timdog44 whathehell Apr 2013 #28

big f'n k 'n r nashville_brook Apr 2013 #16

K&R forestpath Apr 2013 #25