Social Security Benefit for 2023 (8.7% Increase)

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"You cannot legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another person must work for without receiving."
-Dr. Adrian Rogers

November 23, 2022, 11:52 PM

Copefree

I can’t tell if this thread is serious or not.

Two dimes per month?

November 24, 2022, 09:58 AM

tsmccull

It definitely seems to be a nonsensical thread, but I think I got the OP’s dimes. If I take my current SS payment, multiply by 1.087 and check the increase showing on the SS website, I’m going to get 43 cents more than I calculated. Woo-hoo!

November 24, 2022, 11:57 AM

Rey HRH

quote:
Originally posted by 229DAK:
quote:
Originally posted by 220-9er:
Social Security rounds everything down normally
Round down...to what? How?

Using just the last four digits of my benefit, I calculated 71.01 using 8.7% and they say it is 70.80. If they simply rounded down, why not 71.00?

Math says 8.693474% IS 8.7%. You need to learn Precision in Math.

71.00 is not the result when 70.80 is rounded down; 71.00 is the result when 70.80 is rounded or rounded up. 70.80 rounded down becomes 70.00.

70.50 becomes 71.00 when rounded or rounded up; 70.50 becomes 70.00 when rounded down. In contrast, 70.49 becomes 71.00 only when rounded up and it becomes 70.00 when rounded or rounded down. Do you see the difference?

"It did not really matter what we expected from life, but rather what life expected from us. We needed to stop asking about the meaning of life, and instead to think of ourselves as those who were being questioned by life – daily and hourly. Our answer must consist not in talk and meditation, but in right action and in right conduct. Life ultimately means taking the responsibility to find the right answer to its problems and to fulfill the tasks which it constantly sets for each individual." Viktor Frankl, Man's Search for Meaning, 1946.

November 24, 2022, 09:14 PM

Fed161

quote:
Originally posted by Copefree:
I can’t tell if this thread is serious or not.

Two dimes per month?

If you read the thread, for most it clearly is a serious thread. But at the end of the day the amount of money involved per month is actually much less than the amount of change you would find if you looked under the average person's couch seat cushions. But I get it. It's the principal of the thing. I gave several links in previous posts here explaining why your actual increase will not come to exactly 8.7%. The law explains the difference. I do wonder if a very few number of people may think the difference is due to some, I don't know, maybe deep state conspiracy. Or maybe it's some guy on the internet skimming off a few dimes out of millions of people's SS checks. As I said before, I'm not justifying anything, just explaining it. And it is all explained by the law.

November 25, 2022, 11:29 PM

Kskelton

Huh? So I’m not a government fan and hate defending them, but do they round everything to the tenths place? Because if so 8.69% rounds to 8.7… I guess I’m not seeing the complaint maybe if they said 8.7 and it was 8.61 I’d see a complaint