Here's How Much This Joe Biden Social Security Fix Would Really Boost Benefits
The 2020 presidential campaign is moving into overdrive, and as the election approaches, voters are watching the candidates square off on key issues. Social Security has always been an important part of how older voters make their decisions, and for a long time, many retirees feel like the program hasn't given them all the benefits they deserve.
One suggestion that former Vice President Joe Biden has made about Social Security has to do with the annual cost of living adjustments (COLAs) that Social Security recipients get in their monthly checks. Most years, Social Security payments get a slight bump higher. Senior advocacy groups, however, have called for the use of a different measure of inflation to determine the boosts to Social Security, and Biden has included the adoption of this new metric in his platform. The question, though, is how big a difference using this new methodology would make for seniors. Below, we'll look more closely at that question.
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Source Fool.com
