Robert Reich: Everything You Need to Know About How Chained CPI Will Screw Over Seniors

[JDPriestly]

14. 1) The CPI already accounts for cost changes in items the average consumer buys.

It does not need an additional adjustment for seniors' benefits that accounts for it even more. Thus your first argument is a waste of time.

2. The CPI is not based on what seniors really buy. It is based on what everybody buys. So the fact that the health care costs rise will affect the costs that seniors face but will not affect the amount of the rise of the chained CPI. Thus your second argument makes no sense.

The CPI should be left as it is. It should not be chained.

The point of the video is that seniors are, on average, dealing with incomes lower than anyone else already. We seniors cannot afford further cuts. The very few seniors who high incomes would see their incomes reduced if taxes were raised on the high income earners in all age groups.

Why pick on us seniors? Why pick on veterans? Why not raise the minimum wage so that Social Security will take in more revenue? Why not do what Robert Reich suggests and raise the cap without raising maximum benefits? Those would be simple fixes.

Obama should stop picking on seniors.