Medicare for Me (Oh yeah...)
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Thread: Medicare for Me (Oh yeah...)

  1. #1
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    Medicare for Me (Oh yeah...)

    I just got my Social Security notice about a 1.6 percent cost of living increase that is coming in 2020.

    When reading the fine print, I also found that the taxes being taken out of that payment for medicare are about 3 times the increase, meaning I'll have significantly less money coming in each month.

    Only the US government could give you a 1.6 percent raise to deal with cost of living, and then reduce the actual money you get by 3 percent.

    Thanks!
    Cheers! Marc


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  2. #2
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    That's too bad , several years ago when employed at a hardware store thought would receive a decent check working overtime , after taxes just made an extra $1.00
    Last edited by jb59; 11-23-2019 at 05:29 PM.
    Fandango1949 and Injunbro like this.

  3. #3
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    Reminds me of when I was in the Navy. I got a pay raise which put me in another tax bracket. I ended up with one dollar less per payday.
    Second Amendment: The difference between politicians and rulers.

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  5. #4
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    Cross your fingers, I heard today on a program by Wayne Allyn Root that it's possible Trump plans for a new tax cut for 2020
    will also eliminate taxes taken from SS. I sure hope so!

  6. #5
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    I did the calculations. With the cost of living increase, less the increase in part B deduction, less the increase in my drug plan my net change is $0. Wife's is a little in the negative. Guess I can't complain, since we retired we've had 7 surgeries and 2 E.R. visits and I think we paid about $65 total plus drug deductible and drug co-pays.

    Hector
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