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Readers' Mail: CPI-the Ultimate In Deception! The CPI should be scrapped! It misleads the public into accepting it as a cost-of-living index, when it is not. Over 15 major revisions have been carried out on the CPI in the past thirty years. All revisions to the CPI show one clear purpose, to bring down the appearance of inflation. Using the CPI to adjust COLAs thereby cuts Social Security benefits without calling it a cut. Here's my personal inflation list taken from the media and letters I receive: Kirklin Clinic parking up 100% Hoover property taxes up 25% Medwise membership up 55% South Central Bell Directory Assistance up 100% AARP Medigap Insurance up 9% Jefferson County sewer tax up 17% Prescription drugs up 15% Health Maintenance Organizations (HMO) premium increase up 8-9% Cigarettes up 25% Cable TV up 15% Haircut up 15% Vidalia onions up 10% Auto insurance up 3.5% Amsouth Safety Deposit Box up 125% Home prices up 4.7% You expect me to believe the propaganda by the Bureau of Labor Statistics (BLS)? Since 1982 the BLS has been required by law to keep a separate CPI for seniors only, known as the CPI-E. Did you ever, ever hear them mention it in their monthly news releases?-Russell C. Watson, Birmingham AL This article first appeared in Volume 4, Issue 9 of "The Social Security and Medicare Advisor" newsletter (September/1999). To receive future editions of "The Advisor" in its special, free e-mail version, please click here. | ||||||||
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