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Even much higher-than-average COLAs haven't managed to keep up with rising costs. In 2022, for example, the 5.9% adjustment was the highest since 1982. Yet the inflation rate that year was 7%.
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By CBO calculations, the household incomes in the first and second quintiles have an average total federal tax rate of 1.0% and 3.8% respectively. [129] However, these groups also have the smallest percentage of American household incomes – the first quintile earns 3.2% of all income, while the second quintile earns 8.4% of all income. [171]
[16] [17] It fights age discrimination in the workforce, [18] [14] [15] [19] lobbies for lower prescription drug prices, [20] [21] [22] and educates seniors about consumer fraud through the AARP Fraud Watch Network. [11] [23] AARP also advocates at the state and local level for better community healthcare services and lower utility rates.
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