Why doesn't Social Secuity give you enough cost of living increase on your monthly income?
445649
Social Security is a socialist program.  It does not work.  It must be abolished and US citizens given the right to invest that money in our own retirement plans.  The baby boomers are going to start retiring in the next ten years and they are going to bankrupt Social Security.  There is currently 7 working people paying into the SS system for every 1 person drawing benefits.  In ten years there will be 2 people paying into the SS  system for every 1 person drawing benefits.  Let's say that an individual gets $800 a month for their SS benefit currently each individual is responsible for $114.29 each per month.  Now in ten years each individual will be responsible for $400.00 each per month.  It can not continue to function like this.
1157588
I believe they would if they had to live off the very little given in social security...  But they don't worry about it, as they will never have to live off of the little over $600 a month (way below poverty level)...\n\nAlthough, people today use SS as a way to retire, when it was originally designed to help penioners back when it was created.  It wasn't meant as a sole income...
922982
HaHa, you'll be lucky.  A small amount like that will earn you almost nothing in any building society or bank.  If its money you dont actually need to live on you'd be better off buying a few premium bonds.  At least with those, even though the chances are millions to one, you might just get something back if your number comes up. But as for any bank or society increasing profit on your investment, you chances of living to 150 are higher!! Sorry but thats how banks make a profit.
135152
This is a hard question to answer. As the minimum wage increases so also does the cost of living. Those people paying minimum wages often raise the cost of the product to compensate for the increase of the cost of manufaturing it. After all they are in business to make money. I think we should look at better ways to decrease the cost of living for those that need it such as no tax on food, keeping the cost of gas lower, better and cheaper medical. These would actually increase the persons potential to survive in a heathier state and not have to work 2 or three jobs to make ends meet.
897073
If you look at countries like India, Brazil, Mexico. Wealth in the US is veru well distributed. People in some of those countries have to live with 50 dollars a month. In India they make as little as 63 dollars a year. Think about that.
591059
I believe we must be allowed to invest the 7.5% of our pay taken every payday for social security ourselves.  As an experiment the SS Admin. allowed the city of Galveston, TX. to withdraw from the SS system about 35 years ago.  The citizens of Galveston were allowed to privately invest there 7.5% them selves.  Now the average citizen in Galveston is retiring with 4 to 5 times the amount of money than the national average of citizens drawing SS benefits.
163908
However much it takes you to live within your means...if you're waiting to have enough money to have kids...you could be waiting a long time.  No matter what you plan for some unexpected money always seems to come out that pocket.
646866
yes, i agree with the plan: but regardless of the simplicity that comes the plan it still doesn't help improve the income of those in the lower spectrum, instead it just continues to expand the gap between haves and the have not.
35365
Most countries outside of the United States do not have the magnitude of opportunities for increasing ones income because here in the US we have three classes of people, Ultra Rich, Middle Class and Poor. Most third world countries have two class groups, Ultra wealthy and poor. This means that in the United States you have more people that can afford your goods or services. But your quetion was how do they do it here?\n\nFirst of all people that don't have much don't spend much. They save every penny that they earn. They don't beleve in credit, they pay cash for everything they have. If they don't have enough money to by what they need then they will save their money until they do. They will do without  luxury items like $5.00 expressos at Star Bucks. They don't feel like they need to be entertained every second of the day and are happy in company of family members.\n\nAlso unlike most American families they pool their resources. They are very tight nit and work together to acheive a common goal. they take every advantage of the educationl resources that our country has to offer. They are not worried that someone in the family will have more than they do. While most young American families spend 600 dollars a week for child care, Immigrant families have extended family members that will take care of the children while they work two or three jobs.\n\nIn observing the Asian culture you might wonder how they can afford such expensive homes, The truth is they can't except that 3 or 4 families will by a property together, They don't buy luxury items like furnture, curtins, luxurious carpets or paint to personalize the House. It is meerly an investment. When the property value goes up they sell, and now four families can buy another property. The cycle continues and they become very wealthy.
574391
Not enough for it to be your only income...
423164
Living Expenses is getting higher & higher because of the following reasons:\n\n1. Increase in population (more demand & less supply of everything)\n2. Depletion of natural resources( Soaring Oil & gold Prices)\n3. Lavish Life styles people now have more needs & wants\n\n & now how can U counter them U can try the following...\n\na. Try to control poulation in taiwan thats on the Macro level\nb. Try conservation of natural resources like Petrol Gas water etc.\nc. Try to reduce ur wants & make distinction between What u genuinely need? & what are ur Wants & desires?\nd. And at ur micro level try to enhance ur skills & aptitudes  so that u stand out a "FACE IN THE CROWD " & draw handsome salaries  so that u can take the rising inflation in ur stride.
1080989
OK lets say that a single person on SSI gets $603.00 per month(that's what i get)  and i decide to get married i will get $650.00 per month that's only $325.00 per person. but if that person is also on SSI it would be better if we just lived together then we would have more.
567000
The two things are unrelated.\n\nWhen Social Security began the lifespan was only slightly over 65. Recipients, on average, received benefits for only a few years. Today the lifespan has increased to, last I heard, 77.6 years.\n\nFurther, family size has shrunk and therefore there are less young workers to support each retiree.\n\nThus, in 1950, there were 16 workers to support every one beneficiary of Social Security. But today, there are only 3.3 workers supporting every Social Security beneficiary. \n\nBy the time the Baby Boom generation retires there will be only 2 workers to support each retiree.\n\nThe Social Security system is not nor was it ever an actuarially sound insurance program. Its closer to being what is usually called a Ponzi Scheme. It depends on current "contributions" (which is to say taxes) to pay for current benefits.\n\nThe bottom line is that in a few years every couple of workers will be supporting a retired person. Think about that. You'll not only have to take care of yourself but your half of the living expenses of a retiree.\n\nSomething has to change.
744057
You mean your retired and living on a government check?\n\nIf your living in private housing... They can raise the rent all they want.  Unless your local has rent control laws. \n\nIts called business.
557494
you are getting some great answers here. yes did know that and though the richer people will get more money in their pockets the average person will get a greater percantage of it. facts are alot harder to argue  againtist.
885358
No. Whereas the wealthy keep the country going with their exobitant taxes they also increase the costs for everyone else to live. How can anyone justify having so much money when fellow human beings are starving?
554040
stop corporate America from stealing everybodys life savings at retirement so we have something to look forward too. cost of living goes up, wages stay the same, that can't be good. faith cannot do it all. in the end, it's just money. and you can't take it with you...