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Reply #40: That is only a one time payment. A COLA raise is a permenant raise. [View All]

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GreenStormCloud Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-08-09 03:17 PM
Response to Reply #37
40. That is only a one time payment. A COLA raise is a permenant raise.
Further, the amount that an early retire can make without penalty has not been raised.

It was $14,160 per year in 2009, and will be the same in 2010. So if a senior has a full-time minimum wage job, no over-time, they will make $15,080 per year, and lose $460 of SS, and they will have to pay income taxes on the $920 difference.

So minimum wage is now too much money for a senior to be making.
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