Social Security is not a retirement system, but many people do live on it during retirement because they have no other source of income. Other sources of retirement income for the middle class are being reduced and wealth is being sucked from the middle class to the top. The prices of things that seniors need like food and medical care are going up faster than the CPI. For these reasons it borders on immoral to reduce future Social Security payments by use of the chained CPI. Social Security's future solvency should be insured by raising the cap on Social Security withholding.
This is historical material “frozen in time”. The website is no longer updated and links to external websites and some internal pages may not work.
