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Tag: middle0class

Higher Colas Are a Bad Thing For the Middle-Class Retiree

Posted on September 16, 2022September 16, 2022 by Dee

Higher inflation is predicted to enhance the Social Security cost-of-living adjustment, or COLA, in 2023 by a percentage not seen in forty years. This might be interpreted as good news for seniors struggling with rising expenses. The poor part? This substantial increase might drive Social Security users into higher tax categories, resulting in almost half of all households paying taxes on their payments.

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