The Spark

“The emancipation of the working class will only be achieved by the working class itself.” — Karl Marx

Social Security Increase After Years of Decrease!

Nov 22, 2021

Whooooo-weee! Social Security recipients are practically being told they are in for a windfall because their “annual increase [is] expected to be the largest in decades” for 2022. Several estimates put the cost of living increase at around 6%—the highest paid since 1983.

But that isn’t saying much. Because Social Security COLAs averaged only about 1.7% a year over the past 10 years. Recipients, especially those who relied solely on their Social Security to live, fell further and further behind every year.

Security recipients need a heck of a lot more than 6% to contend with higher prices on everything!