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View Diary: Pelosi to support fiscal cliff deal (56 comments)

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  •  Check your math (0+ / 0-)

    .03% (as opposed to .03), three hundredths of 1 percent, over 30 years comes to about 1%, without compounding.

    .03% increase means 1.0003^30. 1.0003^30=1.009039.

    Okay it's about 1% WITH compounding.

    That doesn't mean I support this move. I'm not inclined to support ANYTHING that would reduce the value of Social Security benefits. And if that's the real effect of changing the formula, I for one question the point of making such a change; it won't have any substantial impact on cash flow at the national level. I suspect the extent of the change is being significantly understated.

    It's simply not right. I have nothing at stake here; I will never collect a penny in Social Security myself. My situation is atypical however and I believe that the best thing to do is anything that will NOT make things worse for MOST people.

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