Tuesday, July 19, 2022

Seniors Will Get Large Social Security COLA Which May Push Them Out Of Tax Free Category


Inflation is outpacing wage increases and shows no sign of relief
For seniors on Social Security even with COLA benefits a double dose of grief
The CPI increases exceed the COLA increases but there is a hidden curse
Most Social Security benefits are tax free and have no claim on a senior’s purse
But the anticipated COLA increases will for some result in income in excess of the tax free ceiling
Come tax time a goodly number of seniors will owe the IRS and will be squealing
Already seniors are bombarded with warnings that Medicare will run out of dollars
Now that fateful projected day will come sooner if on inflation we do not collar
Too many federal checks to the population chasing too few goods
Basic Economics 101 that Biden and his Blue minions have  never understood
Rising energy costs are a major inflation driver which would be reduced
If Biden would get off his fossil fuels war and let our domestic production capabilities loose
He would rather go hat to his once labeled “pariah state” in hand
To beg for more oil from beneath Saudi sands

© 7/19/2022 The Alaskanpoet

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