Change SS’s measure of inflation from the CPI-W to the CPI-E
But Biden did more than just lift payroll taxes. He also decided to shift the program’s inflationary tether from the well-known Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W, to the Consumer Price Index for the Elderly (CPI-E).
The problem with the CPI-W is that its purpose is to track the spending habits of urban wage earners and clerical workers, which, honestly, doesn’t make sense anymore given that senior citizens are the majority of Social Security beneficiaries.
As CPI-E has been specifically designed to track the expenditures of seniors, we should have more accurate COLA adjustments.
