I think it's a mistake. However the purpose (and this is a really simple explanation) is to put more money back into an individual's pocket in order to give them more money to spend and act as a boost to the economy.

What on earth were they thinking!

i think the pressure to get people more of their own $$ became so great and added to that there will be more more stimulus $ now. allowing 1 yr of a reduced rate is not going to affect SS much when the program is headed in the downward spiral already. even the treasury dept has been saying that anyone under 30 right now will not have social security, so start planning. i have been mentioning the social sec problem on forums for 3+ yrs (treasury dept has been saying this since 2007) and no one really cares or believes it will end soon. this program started out to help indigent seniors out and has turned into a total social program that for some unknown reason, people became dependent on having, when it was just a bit of help to start. sooo glad i was raised to believe i would never get any! to those of us who look farrrr farrr ahead the problems w/ ss are so 2008 and newest problem people should be worried about is any pension plans, state/county/city, union or teacher are in extreme danger of bankruptcy all over this country. if anyone thinks theirs' is safe you don't know much about financial history. look into what happened to Inland Steel in NW IN they left their pensioners who were getting thousands of $$ a month w/ next to nothing and there was nothing anyone could do to fix it. my dad, who is a CPA & CFP had several clients left destitute after 20+ yrs in at Inland. ~ liz

Crazy Politics!

That's okay the recipients are not getting a cost of living increase because the COL didn't go up but our supplemental insurance premium is increasing, no matter what one you have.

Not only that, my friend gets $100.00 less a month now. She isn't sure, how she will manage....

Moni

People better start waking up. There will not be SS or pensions in the future. Our kids know this and are preparing. I am a believer that you should only get what you have paid in. My hubby worked almost 45 years and has paid a fortune into SS. He will never begin to draw all of it. Get some of the people that are drawing unemployment for the 3rd straight year in the workforce. Three years is too long to collect a check from all the working folks. It should have never been extended for that long. Some people will never even go and look as long as the free check in coming in. Maybe this should be moved to the Hot Topics..

Susie, you are obviously out of touch....unemployment is nowhere near the amount of what one's salary had been. When I was on it in 2009, my unemployment check amounted to 30% of my 'real' income. Whoopee! Let's all go party!

I'd have taken a job instead of collecting that small amount - any day.

Have a nice day.

My employer told me that MY portion went down 2%, but he as the employer had to put in 2% more. It sounded to me that the amount being put into SS didn't change, just HOW it was being paid.

I think they should let us take OUR OWN MONEY and invest it however we choose to. Pisses me off that they steal my money and use it on whatever wasteful government program they see fit. If I don't invest wisely then it's my own fault.

Not only are they stealing my money to give back to me (or not) as they see fit, they are going to keep raising the retirement age and I'll be long dead before I see any of MY money back.

the problem is kath, yes you'll invest or save (what a joke that is, savings acct is paying me less than 1%)

as you say, shame om me for not saving, but what happens the first disaster? do you honestly think a person (like the mudslide victims in ca) oops... can't touch my retirement money? and it's gone in an instant...then where do they go? i do realize ss is inefficent, and often not enough, but are you gonna take on parents/elders who can't afford to live any other way?

we had my mother move it when she wanted to (not a good situation) but if she hadn't had ss, we'd be in such deep debt now, it boggles the mind...she was in and out of nursing facility, that would have had us on the street if we'd had to pay for it...

and "your" money...this year dh paid about $5600 into fica and medicare. that's this year...nice bit of change...but he hasn't always paid that much...back in the 70's when he first started his career, we made under 10 grand...(and that was the 2 of us) so bet our fica and medicare were what? a couple of hundred? as for getting your money back, you are..your parents are...

as for you'll be dead if they keep raising the age limit..can't challenge you on that one! lol...i just hope NOT!

Susan, I think my dad is getting his own money back. My mom never saw much of all the money she paid out over the years before she died. Too bad my dad worked in service for his country for 30 years (Navy) and has such a good retirement that every year he now has to pay out of pocket every year to the IRS at tax time. Hits him hard even with his good retirement income to have to come up with that big chunk of money because the system is so screwed up.

Juellie -= your employer is mistaken. My DH owns his own business and I asked him if his contribution for employees had gone up. He said that it hadn't.