Aboutus Ncsl Foundation For State Legislatures Sponsor ListBut, unlike other parts of the tax code which are adjusted for inflation, such as income brackets, the income thresholds that subject a portion of Social Security benefits to taxation have never been adjusted. "Today, the Social Security benefits of even modest-income retirees - those who have modified gross incomes of more than ,000 or ,000 - are affected by the tax," Johnson says. Had the income thresholds been adjusted for inflation the ,000 threshold would be about ,137 today and the ,000 would be about ,815, using the Bureau of Labor Statistics' inflation calculator..The Senior Citizens League is sharing these stories with Members of Congress as well. If you would like to share your story you may do so here..If the Social Security COLA were based on a more accurate measure of inflation for senior citizens, this year's increase would not have been zero it would have been around 0.6 percent according to Bureau of Labor Statistics data. Do you support legislation that would base the COLA on a more accurate inflation index like the Consumer Price Index for the Elderly? … Continued
Staying Active As Days Get ShorterCongress is under intense pressure from numerous directions to get rising debt under control. The Congressional Budget Office further warned that growing interest costs on the debt would restrict our elected lawmakers ability to use tax and spending policies to respond to economic downturns or financial crises. And that in turn would increase the probably of a sudden fiscal crisis, in which the government would lose its ability to borrow at affordable rates..Was your surgery for an inpatient or outpatient procedure? Even when you spend one or more nights in the hospital, that doesn't automatically make you an inpatient. Ask your hospital or facility's billing department. Whether the service is provided as an inpatient or outpatient is important, because it will be billed differently. If your elective surgery was an outpatient procedure and your anesthesiologist billed it as an inpatient service, or vice versa, then Medicare or your health plan may reject the bill. If an error was made, ask your anesthesiologist to correct the bill and resubmit it..You can contribute to more than one IRA. It's possible to have a traditional IRA, one or more 401s and a Roth IRA or Roth 40You can contribute to as many as you want but the total you may contribute is limited to a maximum amount that is adjusted annually and the type of account. … Continued