Social Security Announces 0.3 Percent Benefit Increase for 2017
Source: ssa.gov
Press Release
Tuesday, October 18, 2016
For Immediate Release
Mark Hinkle, Acting Press Officer
press.office@ssa.gov
Social Security Announces 0.3 Percent Benefit Increase for 2017
Monthly Social Security and Supplemental Security Income (SSI) benefits for more than 65 million Americans will increase 0.3 percent in 2017, the Social Security Administration announced today.
The 0.3 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 60 million Social Security beneficiaries in January 2017. Increased payments to more than 8 million SSI beneficiaries will begin on December 30, 2016. The Social Security Act ties the annual COLA to the increase in the Consumer Price Index as determined by the Department of Labor’s Bureau of Labor Statistics.
Some other adjustments that take effect in January of each year are based on the increase in average wages. Based on that increase, the maximum amount of earnings subject to the Social Security tax (taxable maximum) will increase to $127,200 from $118,500. Of the estimated 173 million workers who will pay Social Security taxes in 2017, about 12 million will pay more because of the increase in the taxable maximum.
Information about Medicare changes for 2017, when announced, will be available at www.Medicare.gov. For some beneficiaries, their Social Security increase may be partially or completely offset by increases in Medicare premiums.
Read more: https://www.ssa.gov/news/#/post/10-2016-1
Don't spend that ~$3.00/month in one place!
These people have no shame, NONE!!
= new reply since forum marked as read
I guess "they" don't take into account how much it is costing some SSA recipients for medications these days!
One of mine has gone from $200 a month to $500 a month!
I guess the part D carrier wasn't happy with the co-payment amount and they reduced the quantity I am to receive by 50% and lied about it! Damn them!
The part D carrier (CVS/Caremark) got their asses fired effective Jan. 1st, 2017 by my Union. If it weren't for the union, I'd be totally screwed!
Greedy bastards they are -- all of them!!!!!! 
I can't buy a gallon of milk for three dollars.
But we got a Congress being led by a AYN RAND Acolyte from Wisconsin, that thinks I have to much and that it should go to the banks, hedge fund and walls street, because he and the other right wingers say that its failure and he wants his lobbyist friends to manage the funds-------------no thank you, (when he gets his retirement from the taxpayers, he's laughing all the way to the bank) he (Ryan) wants to strip our money from us, when he could pass legislation to make everyone that pays into the system pay, nope, he wants it to fail, and have the media run around and say see, its underfunded, you have to raise the age requirement.
Instead of having a worthless means test, of $118,500.00 and now being raised to $127,200.00 to fund the system, while the dumpster and other millionaires and billionaires scam artists , and those making over the said amount don't have to pay anymore.
And whats really galling is that my generation, the baby boomer generation has had to pay for two possibly three generations,
(the one before me, mine, and the one ahead of me, just gotta thank the "guy" leading the country back in 1984) while the hedge fund people another's walk around not paying, but we have to pay for them and ourselves, and the Gen X and the millennials have no defined benefits, and they are being told that the SS is under funded, ---ya think------look at who isn't paying--------------this is not a trick question
And he (Ryan) came up with this idea since he got into office and now that he and his "gang" are in charge , they get to work 111 days this year and he alone is making $223,000 a year working three days a week, so that he can spend time with is family.
While I have to think about the gallon of milk I cannot afford and those three dollars, that is tied to the index of inflation.
While the greed in health costs is going up, food, water and such, yep those three dollars should cover the period on the end of this sentence
Sheesh, I waited and waited to get to be 50 years old and then that bagel that was 10% off if you are over 50 changed -- you have to be 55 now they say.
So you get to 55 and that same stupid bagel is now not available for the old age discount until you are 60.
So you make it to 60 and figure you've got the discount nailed for that same stupid bagel that is now not yours to have with the 10% discount until you are 62.
Fast forward to age 62. That same bagel will not have that 10% discount as you now need to be 65 to get that same little tidbit.
On we go to age 65 (if you are still alive) and now you need to be 70 for that shitty bagel.
It it not obvious WHO these little *perks* (or lack thereof) are going to?
By the time the game is up there will be nothing left as they've worked this generation over good by stealing their retirement savings via the stock market and they now give this same group of people a whopping 1% for a savings account if lucky.
Sons a bitches! Every damn one of them is to blame for this farce and pack of lies!
Let a solitary one of them try living on >$1,000.00 a month!
When faced with this same scenario they've kicked in a few extra bucks to help.
Can't have that now can we? Too busy funding wars without end that cost trillions of dollars a year!
FUCK THEM.
Name of link says it all:
https://www.ssa.gov/history/notchfile3.html
And not to forget the work of G. W Bush, Jr. He sent out checks for $200.00 before he left office and the economy crashed as a last ditch effort to save an economy on its way to ruin.
It was not a lot but a lot more that the crappy $3 I'll get!
>>The Bush stimulus gave 20 million retirees on Social Security and disabled veterans a check. They received $300 ($600 for couples) if they earned at least $3,000 in 2007 in benefits. However, those on SSI alone did not receive checks. (See SSI and the Tax Rebate Checks)
The Bush stimulus also raised loan limits for Fannie Mae, Freddie Mac and the Federal Housing Administration. Unfortunately, this allowed the government-sponsored agencies to take on more toxic debt. That led to Fannie and Freddie's bankruptcy later that year.
https://www.thebalance.com/bush-economic-stimulus-package-3305782
As for the offset that was given, I believe it was during the Carter years when they propped up SS recipients.
not
