In the 80s Massachusetts got a reputation as a high-tax state.  Is that still the case?  What do our tax and spending choices mean for the Commonwealth's Future?

 

On May 6th  Jeff Bernstein, Policy Analyst 

from Massachusetts Budget and Policy Center will examine the choices the Commonwealth has made to invest our resources through our government, where we are now, and the opportunities ahead to build a vibrant community. 

 

The program will take place on Monday, May 6th, from noon to 1:00 p.m. at the Margolis & Bloom office in Boston.

 

Please click here to register and to learn more about the program.

  

On Friday, May 3rd, the Greater Waltham ARC will have their annual Ciao Down for GWARC at the Embassy Suites in Waltham from 5:00 to 7:30 p.m.  This is a family-friendly event that features an all you can eat pasta buffet with salad and dessert, and there will be musical entertainment, raffles and mystery gifts. 

Join the fun for only $15 per adult and $9 per child.  All proceeds go directly to support GWARC's programs, which serve over 300 children, adolescents and adults with intellectual and developmental disabilities and their families each year.   

 

For more information, click here.

The federal government is eliminating its most popular reverse mortgage. Soon homeowners will no longer be able to get a lump-sum payment if they apply for a reverse mortgage under the Home Equity Conversion Mortgage (HECM) Standard program.

 

A reverse mortgage allows a homeowner aged 62 or older to receive a sum of money from the lender, usually a bank, based largely on the value of the house, the age of the borrower, and current interest rates. The loans do not have to be repaid until the last surviving borrower dies, sells the home, or permanently moves out.  After the change, seniors will be converted to withdrawing funds over time to pay their living and care expenses.  

  

Click here to learn more.  

To the dismay of many in his own party, President Obama has proposed changing the inflation formula for Social Security cost-of-living adjustments (COLAs) in a way that reduces annual increases.

 

The federal government uses changes in the Consumer Price Index (CPI) to adjust monthly Social Security benefits each year.The CPI is supposed to reflect the cost of purchasing typical items, such as food, clothing and transportation. Some have argued that the COLAs are too small because Social Security beneficiaries pay more of their income for health care than younger Americans, and health care costs consistently increase faster than other living expenses.  Others argue that the CPI is too high because it doesn't provide for the substitution of lower cost items when prices increase.

 

President Obama in his 2014 budget has proposed switching to the chained-CPI to reduce long-term Social Security costs. The problem with this proposal is that it will hit low-income seniors who depend on Social Security to get by much more thah higher-income seniors who have other sources of income.

  

Click here to learn more.