Arizona Willie
Gold Member
- Aug 27, 2015
- 1,064
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==========Where retired people have been raped the hardest is at the Fed. By bailing out the zombie banks with ZIRP, they have committed mass robbery of savers.==============Moonglow, your suggestion should go without saying, but it would take someone a lot smarter than me to come up with a solution. The obvious counter option to raising wages is dropping costs. However that involves decisions from private businesses, and the record of large corporations is not loyalty to employees. As a retiree living on SS and a small pension, I can make a long list of items that increase yearly while my income remains static by act of Congress. Healthcare COB and meds goes up every year, home and auto insurances, foods, vet care for pets, utilities..the list is endless and it is like getting nicked to death. BTW, have you seen the lists of meds NOT covered, or in a barely covered tier? To work more than one job just to keep a head above water, raise a family, without hope of the kids higher education is the seed of rebellion. That's what bred the dreaded Unions. OTOH, Mom & Pop aren't rolling in dough either. Nor is it fair to ask them to impoverish themselves. Government has excluded employers of under x many employees, which is a break. So what's the answer?The only other action is to reduce the cost of living by operations controlled by rich folks..
Yes, we retired people have been taking it in the shorts. The government calculates inflation based on gasoline price only it seems but that only when they can use it to justify not increasing Social Security.
I've been retired for 20 years today and when I first retired we would go to dinner at a local steakhouse chain and dinner for two would run me approx $35 now it is $83 but I am actually getting $3,000 less each year clear to live on because of increases in health insurance. My pension from the union has a deduction for my union health insurance which is now my secondary to Medicare. Both Medicare and my secondary insurance costs have continued to go up up up up through the years while pensions all increased little to none.
Which results in an actual loss of $3000 / year compared to when I retired not to mention that the price of everything else has gone up as well. Health insurance has cut my income but inflation in other things has increased my outgo.
I retired very comfortable but now I can see that it won't be long before I might have to become a Wal-Mart greeter someday. Welll, probably not but it could happen if inflation isn't stopped or some massive increases in Social Security.
Yes that is another / different crime not only against retirees but against EVERYONE who tries to save money.
Who would have thought when we were in our working day that banks would get away with paying .01% interest on savings accounts and be allowed to charge up to 35% interest on credit cards etc.?
And then they bitch that they aren't making enough money.
I remember the good old days when we had Usery Laws and they could not charge more than 10% interest and ALL INTEREST WE PAID WAS TAX DEDUCTIBLE.
Thanks to Ronald Regan who pushed through the largest tax increase in history on the lower classes, we can only deduct mortgage interest now. No more deduction for the massive interest on those credit cards. And he < wanted > to take away the home mortgage deduction too but couldn't get away with it because Republicans pay interest on their homes too ( many of them ).
Ronald Reagan was the biggest traitor in history after Henry Kissinger.