As the top of present 12 months 2023 shortly approaches, the federal authorities as soon as once more is abusing the Social Security (SS) and Medicare methods.
First, in case you are one of many tens of millions of middle-class Americans counting on Social Security and Medicare anticipating your advantages to maintain tempo with the true inflation fee, be ready for a stunning actuality in present 12 months 2024.
We are being advised by the federal government that the inflation fee is just 3.2%, whereas the true inflation fee is definitely far higher. Just take a look at the rise in prices for gasoline, meals, and different commodities, and ask your self: Is 3.2% an correct quantity?
Answer: No, it isn’t . . .
Second, I simply acquired my newest Social Security and Medicare assertion, efficient January 2024, that reveals stunning information. In present 12 months 2023, my month-to-month Social Security profit, prior to deductions, was $3,221.90. After deducting the $164.00 Medicare premium, I used to be left with a web month-to-month Social Security good thing about $3,057.90.
Now, in present 12 months 2024, my month-to-month Social Security profit prior to deductions will increase to $3,325.60. That is a slight (3%) improve within the month-to-month SS profit, however — and prepare for this — my new Medicare month-to-month premium elevated to a whopping $244.60, representing a rise in my Medicare premium of 49% (sure, 49%).
Due to this Medicare improve, my web month-to-month Social Security profit improve turns into a paltry $11.10 per 30 days. I urge you to evaluate your 2023 Social Security and Medicare statements to your 2024 statements.
These previous and continued abuses by our authorities, and the way we are able to take a stand to demand equity, are outlined in my e-book entitled, “Social Security: The Great Ponzi Scheme.”
I urge everybody to receive a copy of my book and study how one can be a part of the answer to this authorities drawback of lies and abuse. My e-book will inform you the reality as nicely as how to combat again to finish these ongoing abuses. We should get up to the federal government and demand justice. The failure of the American folks to accomplish that is not going to finish nicely.
Don Smith has 45 years of expertise in monetary evaluation and monetary companies. He wrote his e-book Social Security: The Great Ponzi Scheme as a part of his dedication to repair the damaged Social Security system.