Reply #15: True most working people's wages have not [View All]

[doc03]

kept up with inflation. If you are on a pension you have no raises, no COLA and you can't work overtime to make up for it. The only alternative you have is spend your savings if you have any, get a reverse mortgage on your home or take a job at McDonalds or Wally World. Inflation is the worst tax there is. I have taken care of my mother's finances for 20 years and nearly every year that she got a COLA increase the Medicare premiums took a good part of it back. The government and the media always make a big deal about SS recipients getting a COLA but they never tell you how much they take back with the other hand. In addition to that the Medicare supplement always goes up, I have seen her entire COLA and then some taken back when the supplement is added in.