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I'm surprised, Social Security 2022 COLA is 5.9%

ZZZZZ

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I was figuring TPTB would offer a poor measly stinkin' 2 or 3%

Approximately 70 million Americans will see a 5.9% increase in their Social Security benefits and Supplemental Security Income (SSI) payments in 2022.​
 
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Fatrat

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yippee....
 

Buck

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glockngold

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I just hooked up the wood stove with new stove pipe.
Last year a 6" solid elbow was $12.00
This year I paid $16.00
Would it be a problem for the feds to just say inflation this year is 29%
I mean, what does it matter anyway?
 

southfork

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Should have been higher if they didnt manipulate the cpa, put all the real inflation numbers in it wed see 10%++++
 

hammerhead

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I just hooked up the wood stove with new stove pipe.
Last year a 6" solid elbow was $12.00
This year I paid $16.00
Would it be a problem for the feds to just say inflation this year is 29%
I mean, what does it matter anyway?

Heating bills expected to jump as much as 54% compared to last winter, US government says amid energy crisis​


Around half of the households in the U.S. use natural gas for heat, and they could pay $746 this winter, which is 30% more than a year ago, AP reported. Electricity is the second-most used heating source for homes, and a more modest increase, around 6% to $1,268 is predicted. Further, homes that use heating oil, 4% of the U.S., could see a 43% increase, up to $1,734




I don't agree with the numbers that is put up for estimated costs as I would be happy to only have to pay $1268 for the season as compared to $500/mo and still be cold.
 

Joe King

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$500/mo and still be cold.
Ouch! First thing that made me think is, you either need waaay better insulation, or to move away from the North Pole. Lol
 

hammerhead

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Ouch! First thing that made me think is, you either need waaay better insulation, or to move away from the North Pole. Lol
It is more like electricity has gotten expensive. It has cost more to heat a few rooms with just the wife and me as when we had a house full of kids with heat and lights on in every room.
 

Ragnarok

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That should cover anout half the current inflation rate…

R.
 

StrawMan=Corporation

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Last year during summer months I paid $1.50 per gallon for delivered propane, this year paid the winter price of $2.50 per gallon in past summer months.

ETA: Yes own tank, 1000 gallon, was cheapest in the county.
 
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Treasure Searcher

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Last year during summer months I paid $1.50 per gallon for delivered propane, this year paid the winter price of $2.50 per gallon in past summer months.
Do you own your own propane tank or lease it from a propane supplier? I own two 500 gallon tanks and a 1,000 gallon tank. I have six propane suppliers in my area. Since I own my tanks, I can call around for price quotes and select the lowest price. The 1,000 gallon tank has 850 gallons of .99 cent propane still in it. Eventually, I will pay for the tank. I can sell any of the tanks, if I need the cash and lease a tank for around $75.00 a year, if need be.
 

tigerwillow1

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Propane prices vary hugely between geographic areas, and suppliers in the same area. Last winter I paid 1.79, this winter it's 2.25. There was a spike for the 2011-2012 winter at 2.59. Between then and now it has been fairly steady in the 1.45 to 1.80 range. I'm getting a great deal renting a 500 gal tank at $45/year.
 

Treasure Searcher

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Propane prices vary hugely between geographic areas, and suppliers in the same area. Last winter I paid 1.79, this winter it's 2.25. There was a spike for the 2011-2012 winter at 2.59. Between then and now it has been fairly steady in the 1.45 to 1.80 range. I'm getting a great deal renting a 500 gal tank at $45/year.
We have had $4.00 propane in my area at one time. That is if you could get it. Suppliers were low and the price skyrocketed. The area of an Indian reservation, it was $5.00 a gallon. That was because Uncle Sugar would pay that for the federal home heating program.

Some suppliers have prebuy programs, where you can lock so many gallons in at a certain price, for delivery later.

I've gotten sick of all the problems of having propane. Bought my own tanks and top them off in the summer, where the summer price is lowest. More than enough gallons to get through the cold season. Most suppliers are good, but some play games. Those games are expensive. One supplier will come in and take the propane tank, when a house is sold. They tell the new house owner they "owned" the tank. New house owner does not know the difference. Had one neighbor come home and his 500 gallon tank missing. At least I buy my own tanks and had reciepts done with the tank serial numbers. Anyone takes these, its felony theft.
 

tigerwillow1

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Most suppliers are good, but some play games.
When I first started with propane I used a blue-themed nation-wide supplier that I won't name out of fear of retribution. Somewhere along the line I realized that the price for both the gas and tank was way high. Switched to a local supplier and was pleased. When I moved 12 years ago I went with a local supplier out of the gate and have been totally satisfied. They offer prebuys, which is what the prices 2 posts ago are from. The non-prebuy price is often quite a lot higher. My supplier gets it via rail from Canada.
 

the_shootist

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They raise the payout but they also will tag it with a requirement to get the jab otherwise no SS for you, the unvaccina....the unpoisoned
 

Atocha

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Last year during summer months I paid $1.50 per gallon for delivered propane, this year paid the winter price of $2.50 per gallon in past summer months.

ETA: Yes own tank, 1000 gallon, was cheapest in the county.
I just paid $4.50 a gallon for
 

AurumAg

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ttazzman

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Last year during summer months I paid $1.50 per gallon for delivered propane, this year paid the winter price of $2.50 per gallon in past summer months.

ETA: Yes own tank, 1000 gallon, was cheapest in the county.
We pre-buy our propane each year in September and the propane Co keeps us full which I like because we use propane for our backup generator.....our pre-buy price was 2.04gal last month.....the off the street price was 2.14.........its their tank too no charge for the last 12years
 
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Usury

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So that means inflation is what…2-3 times that?

Chew on this….

Gov publishes annual loan limits for a single family home using Fannie/Freddie financing. It’s based on average home pricing indices. When I started back in the late nineties, the limit was barely over 100k. In 2020 the limit had climbed up to 510k, then to 548k this year. Rumor is it will go to 625k for 2022. Think about that for a minute.
 

StrawMan=Corporation

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I'll have to check on this "pre buy price" thanks for the idea, had never thought or heard of buying like that.
 

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Buying votes....
 

AurumAg

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I'll have to check on this "pre buy price" thanks for the idea, had never thought or heard of buying like that.

That's how airlines and truck fleet operators typically purchase fuel.
 

Treasure Searcher

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I have been prebuying propane for around 25 years. I have 6 propane suppliers in my area, which works for me, since I own my own tanks. One supplier allows me to prebuy in June of each year. Typically, they would be the cheapest price for the upcoming year anyway. I call them and they lock in for the price per gallon. They send me a contract, which I sign and mail back with the check. Even though I prebought, I fill up in June, with the "summer fill" price, which is cheaper. I check the tanks (500 & 1,000 gallon capacity) for the house and one (500 gallon) for the shop, from time to time. I call the supplier when any tanks need a minimum of 200 gallons.

Depending on the supplier, look at the fine print:
1) One supplier will charge you .40 cents per gallon, for every prebuy gallon, you do not take delivery by April 1st. So you have to "forecast" how
many gallons you should prebuy.
2) If you lease a tank from a supplier, you can only purchase propane from that supplier. You are at the mercy of that supplier's price and
willingness to offer a prebuy program and what fee they charge for the lease fee. That is why I own my own tanks.

While this sounds complicated, do your research. When that year where there was a shortage of propane, the price rose to $4.00 a gallon.
That was alot more than my propane prebuy price was.
 

AurumAg

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I got this from AARP:

COLA increases by year​

Note: COLA changes take effect the next Jan. 1

YEARCOLA %
19758
19766.4
19775.9
19786.5
19799.9
198014.3
198111.2
19827.4
19833.5
19843.5
19853.1
19861.3
19874.2
19884
19894.7
19905.4
19913.7
19923
19932.6
19942.8
19952.6
19962.9
19972.1
19981.3
19992.5
20003.5
20012.6
20021.4
20032.1
20042.7
20054.1
20063.3
20072.3
20085.8
20090
20100
20113.6
20121.7
20131.5
20141.7
20150
20160.3
20172
20182.8
20191.6
20201.3
20215.9
 

Silvergun

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I cant wait until I pass go to get my monopoly money.
 

SongSungAU

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5.9% is only a half-assed admission that there is inflation. It's not an honest "cost of living adjustment" so get ready to feel the squeeze.

COLApfff.jpg
 

AurumAg

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Maybe history is rhyming with the mid-70s?
 

Usury

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So that means inflation is what…2-3 times that?

Chew on this….

Gov publishes annual loan limits for a single family home using Fannie/Freddie financing. It’s based on average home pricing indices. When I started back in the late nineties, the limit was barely over 100k. In 2020 the limit had climbed up to 510k, then to 548k this year. Rumor is it will go to 625k for 2022. Think about that for a minute.
So they published the official new loan limits today for 2022--$647,200. THAT’S AN EIGHTEEN PERCENT INCREASE OVER THIS YEARS LIMIT.
 

Buck

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So they published the official new loan limits today for 2022--$647,200. THAT’S AN EIGHTEEN PERCENT INCREASE OVER THIS YEARS LIMIT.
so, don't worry, they'll cover it all over with a healthy dose of 'inflation' (which is transitory)

you'll never look at them as being the problem
 

ZZZZZ

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And of course the IRS never indexes assets for inflation for capital gains tax purposes.
.
.
 
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Buck

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capital gains i'm a wealthy individual...and yet, all i own is dirt and the house that sits on it...


they're considering the dirt particles, while all i'm considering is the termite damage that may exist in the eves
 

tigerwillow1

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And of course the IRS never indexes assets for inflation for capital gains tax purposes.
How about interest bearing accounts? If you get interest half the rate of inflation, you lose half of what you needed just to stay even, and the other half that you managed to keep gets taxed.
 

Buck

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this reminds me of:
we gotta pass it to see what's in it...

and to me, that's the same as them saying: "Sign the Check", and it's blank


when all i'm asking for is my money back....
 

ZZZZZ

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How about interest bearing accounts? If you get interest half the rate of inflation, you lose half of what you needed just to stay even, and the other half that you managed to keep gets taxed.

Yup, the whole game is rigged.

If you owe taxes at the end of the year, they charge your interest and penalties. But if you overpay during the year, do they pay you interest? Hell no!
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