Concerned about COL's affect on future generations
How many people, when they hear the words, cost of living (COL), know how these words affect them or will affect them in the future? Because I worked for the post office for over 25 years and have been on Civil Service Retirement, COL has been beneficial to me during my 35 years of retirement. I looked up what I was getting the first year of retirement and compared it with what I get now. It is so much higher now that I would be embarrassed to tell you.
I write about this now as I want people to understand how COL will affect them if school teachers, county and city employees, get this pay raise every year. In 25 years, their salaries will double and where will this money come from? Taxes, of course, and if the procedure continues-in 25 years taxes will have to be doubled to make the payments.
Those who are now in their 70's won't be affected, but those who are in lower ages will be. How and where will they get the money to pay the increases, especially living on Social Security? Pay raises brings about inflation and if nobody gets a pay raise, it is logical to believe that inflation will not happen and nothing will go up. This seems to be logical.
Teachers, especially, have a state law that requires [the] school board to negotiate with them and it is always about pay raises; other government agencies follow. I would suggest that no pay raises be granted, everything stays at the same level and inflation will not happen.
Because of the increase in my retirement, I have actually felt obligated to make contributions to the communities I have lived in, such as 50 to the Perham school district for reading classes and a similar amount to NY Mills for the same purpose. Another 50 to the City of Perham for summer recreation, 50 to the cemeteries in NY Mills, so they can cut the grass, and recently 10 to the skateboard park and a few smaller amounts here and there. I feel good about this as it may justify the increases in my retirement.
Because I am in my eighth month of my 94th year on this earth, future COL to employees will not affect me; but the younger people should make note of this and remember what I have written.