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COLA’s not Keeping Up with Increasing Costs - Yahoo Finance
Since 2000, Social Security recipients have lost 36% of their buying power. Part of the reason is the way the COLA increases are calculated. The calculation is based on the spending habits of urban wage earners and clerical workers. Still, some argue that a change needs to be implemented to base it on something specific to the costs facing older people. Maurie Backman for The Motley Fool explains here…
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