Should the Federal Government make a CHOICE to try to influence the Social Security cost-of –living...

Should the Federal Government make a CHOICE to try to influence the Social Security cost-of –living adjustments? Should the goal be: a) an exactly equal change each year, b) a somewhat more (or less) equal change each year, c) a slightly more (or less) equal change ... or d) the government should not try to influence the Social Security cost-of –living adjustments at all ? (300-500 words)

Expert Solution

Social security is the benefits received by the disabled , retired etc people . Social security should always keep pace with inflation otherwise with rise in inflation , the real value of the security erodes away . The changes or adjustment to social security should be made only considering inflation . Government should definitely try to influence the Social Security cost-of –living adjustments . The goal should be to maintain the real value of the security or increase the real value over time , nominal value should adjust as per inflation . Cost of living denotes the standard of living of a person . If real value of social security falls due to inflation then the standard of living of these people decline . The people dependent on social security behave a fixed earners group .

The cost of living is measured as based on Consumer Price Index . The magnitude of increment of security depends on the index .

Rahul Sunny answered 2 years ago

In what primary way are the Social Security cost-of –living adjustments a BENEFIT to our economy...

In what primary way are the Social Security cost-of –living adjustments a BENEFIT to our economy and to our society ? Why do you think so? (300-500 words)

Not counting Social Security, should the government force people to save money in personal accounts for...

Not counting Social Security, should the government force people to save money in personal accounts for their eventual retirement?

There is a suggestion that businesses/government workers should move to a 401(k) to replace Social Security....

There is a suggestion that businesses/government workers should move to a 401(k) to replace Social Security. What is a 401(k) and why is this a good or negative idea?

Government: What is the current politics around the Social Security Fund? Is Social Security in crisis?...

Government: What is the current politics around the Social Security Fund? Is Social Security in crisis? What are some suggestions from both sides of the political aisle to strengthen Social Security?

The Wall Street Journal reports on a SSA cost-of-living adjustment (COLA) whereby “Americans receiving Social Security...

The Wall Street Journal reports on a SSA cost-of-living adjustment (COLA) whereby “Americans receiving Social Security will see a 1.3% increase in benefits”. If Social Security recipients continue to receive an annual 1.3% increase in benefits, approximately how long will it take for their benefits to double? A. Half of a year. B. Half of a decade. C. A decade. D. Half of a century. E. Without knowing the amount of the payment, the question is unanswerable.

Try to outline a general principle covering when government should, and when government should not interfere...

Try to outline a general principle covering when government should, and when government should not interfere with the freedom of the individual. This principle should cover not only restrictions on the sale of codeine but other similar interventions –eg taxing cigarettes, alcohol, sugar

should the federal reserve try to get the inflation rate to zero?

1. Social Security, Federal & State unemployment taxes, Income Taxes Social Security Medicare Use the terms...

1. Social Security, Federal & State unemployment taxes, Income Taxes Social Security Medicare Use the terms in bold and pair them with the statements below The two parts of FICA Taxes paid by both the employer and employee Applies at an even rate to all wage income In 2015, applied only to the first $118,500 of wage income Paid by the employee only The rate varies depending on the employee's income Paid by the employer only

how do we treat retirement and social security problem? A government report concluded that Social Security...

how do we treat retirement and social security problem? A government report concluded that Social Security will be insolvent in 2035 and Medicare will be depleted by 2026. What do you think of the social security and retirement problem in the upcoming 20 years? What policy needs to be made? Should we take any actions or we should just wait?

Beyond Social Security Disability Insurance, should the government mandate disability coverage by employers or provide disability...

Beyond Social Security Disability Insurance, should the government mandate disability coverage by employers or provide disability coverage to all citizens? Why or why not? What about Long-Term Care Insurance? How should employers look at offering LTC Insurance among a comprehensive benefits package?

Question