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New inflation measure would reduce Social Security benefit increases, raise taxes

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Tue, 08 Nov 11 12:09 AM | 35 view(s)
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New formula would reduce Social Security increases
New inflation measure would reduce Social Security benefit increases, raise taxes
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Stephen Ohlemacher, Associated Press, On Monday November 7, 2011, 3:14 pm

WASHINGTON (AP) -- Just as 55 million Social Security recipients are about to get their first benefit increase in three years, Congress is looking at reducing future raises by adopting a new measure of inflation that also would increase taxes for most families -- the biggest impact falling on those with low incomes.

If adopted across the government, the inflation measure would have widespread ramifications. Future increases in veterans' benefits and pensions for federal workers and military personnel would be smaller. And over time, fewer people would qualify for Medicaid, Head Start, food stamps, school lunch programs and

http://finance.yahoo.com/news/New-formula-would-reduce-apf-365864943.html?x=0




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