![]() For the podcast, I invited a panel of experts on Social Security to join me to talk about the COLA. I even get into how the inflation hike might impact your taxes. The story explains why the 2023 COLA will be so high, and it discusses the accuracy of the COLA in tracking inflation for seniors. It answers a variety of questions about the COLA. I published an in-depth story about the Social Security COLA in the New York Times this week that’s been drawing a lot of traffic, comments and questions. The maximum amount of earnings subject to the Social Security tax will increase to $160,200 from $147,000. That’s a big raise for more than 52 million retired Americans, and another 18 million who are survivors of covered workers or recipients of disability benefits or Supplemental Security Income. ![]() The Social Security Administration announced that benefits will rise by 8.7% in 2023. The podcast is back this week with a look at the historic cost-of-living adjustment in Social Security benefits announced this morning.
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