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MONEY TALKS: Social Security, the Mileage Tax and Vaccine Mandates

Published: Oct. 20, 2021 at 12:31 PM CDT
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CAPE GIRARDEAU, Mo. (KFVS) - In the latest edition of Money Talks, the leading topic of the day is social security.

There will be a cost of living adjustment for those who receive social security payments.

“This happens every year, " Dr. David Yaskewich said. “And the increase that will go into effect this January will be a 5.9% increase.”

Yaskewich is the chair of the Department of Accounting, Economics, and Finance at Southeast Missouri State University.

He said that this reflects the cost of living in the last year.

We also break down the mileage tax as it is mentioned in the infrastructure bill.

While the infrastructure bill does not establish a mileage tax, it would initiate a study about the implementation of such a tax.

Yaskewich said that there are potential privacy issues involved with tracking how much gas motorists use, and the data that would have to be collected.

He also said the hypothetical tax could be difficult to implement, if it is not a federal tax.

“We’re in Cape Girardeau. We’re on the border of Illinois and Missouri,” he said. “I think this is gonna be difficult to do on a state level.”

The tax raises the question as well: where the tax burden will be placed the heaviest? For instance, rural areas tend to drive more than those in an urban area.

Later on in the episode, we discuss President Joe Biden’s economic case for vaccine mandates.

Money Talks is an economics show streamed live bi-weekly on Fridays at 3:30 on the KFVS digital channel.

Watch the KFVS digital channel here.

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