int
Social security
)ills compared
nt Y As-
THE BATTALION Page 5
WEDNESDAY, NOVEMBER 23, 1977
Jston will
J| iiversity United Press International
Pageant, WASHINGTON—Congress will
5s ic. a fundamental decision soon
ffepresen- n how to pay for Social Security
^ Cotton hether to continue taxing em-
wins loyers and employees equally or to
icrease the tax share carried by
’W junior mployers.
was clj). lliis will be a main issue when
nearly 2J louse and Senate negotiators meet
nt-faculty [the near future to reconcile differ-
igSocial Scurity bills passed earlier
lis year
uid i tti call for hefty increases
o e »ve the payroll tax boosts already
eS1 en heduled in an effort to put the
the Res enS ' on P ro 8 ram on a financially
' iund basis into the next century.
are The House bill follows a tradition,
when Social Security was
foe She unc h e d in 1935, of taxing em-
)ior fro Q y ers an( ^ employees equally. The
mate would raise taxes for em-
j oyers much more rapidly than for
lieir workers.
At present, an employer and em
oyee each pay the same amount of
s on a workers’ earnings up to
16,500,
The House bill would gradually
ise this “base” equally for em-
oyersand employes to $42,600 in
187.
The Senate bill would raise the
the first ft ise on which the employer’s tax is
iculated to $50,000 in 1979 and
lantationi '5.000 in 1985. But the Senate
ould raise the base for the em-
thisTy oyee’s tax to only to $33,300 in
d beoDll 185and $33,900 in 1987.
icago After that the employe base would
)ffs aften ewith inflation until it caught up
)ta, meell ith the employer base shortly
tiac, Mii ter the start of the next cen-
betweeni ry. From then on, employers and
and the! takers would once again pay
be reawftaal taxes.
verfront Each bill also raises the percent-
itors arei e tax rate — the Senate slightly
e Thanfsp ore than the House,
etroit. Hi Here are some examples of what
11 be out ese changes would mean in actual
avagana res:
is more* - An average worker — who
day earns $10,000 — now pays
ice famili 185 a year in Social Security tax.
expected ssuming this worker’s pay rose
2 mi ith inflation to $18,619 in 1987,
lymoreh e House and Senate bills each
he 1.78i odd raise his tax in that year to
airmen i ,322.
lies. (It would go to $1,201 any-
ly under present law.)
—The maximum tax an employe
|| arning more than the base) can Ire
lied on to pay now is $965 a year.
Margin n ^ er Senate bill, the
aximum would reach $2,407 in
elations U n der the House bill it would
held at (i ‘ $3,024.
nether ~ F or an employer, the Senate
tuld raise the maximum tax to
mra 1,325 in 1987. Under the House
rorts of ^ would fi 56 1° $3,024, the same
e oersuai max i m um for employees,
e D 0: $ u PP orl:ers °f the Senate version
rn bami 1’ ra > ses the money necessary to
lance Social Security without put-
vill strife 35 muc l 1 burden on middle and
incog gher-income workers.
They also argue that business can
uld crip' k )r( l the higher Social Security tax
ishisd jeause it is allowed to write much
„ome 1 *1 against income taxes — in
" _ jj 'e case of large corporations,
■ collapii !ar ^ ^aff- Individuals do not have
Inismanc lc ^ a wr ite-off. Senate sponsors
Iso point to the fact that Social Se-
d Ameii; ^ benefits are greared to em-
izing al °Y ees ’ earnings during their work-
nst Ugai ^ ves U P t° the amount of the
liate a?ii n f
ivingtk lller eiore, increasing the em-
f no d« ^°Y e base automatically leads to
i his co! Icrease( l benefit costs in the future:
, e ^ m j n ; ut raising the base for employers
in Wasffl 0es n °t add to future benefits.
-essional ^lie Carter administration sup-
orted the Senate plan. It originally
>t publid ro P os ed no base ceiling at all in
i Dadad ^culating the employer’s tax.
.United! Critics of the Senate version de-
ainst A« 0unce ‘t as a “soak the employers
jble for! c heme’’ and an attempt to find “an
000 pei’l answer” for financing Social
^971 'ecurity without arousing the anger
at of Sac fvoter s-
Iridgepo
I Naho®
,n stop 1
it them
hellgaii^
. piail is 80%
menttof
sary.tohi
A-idinc anyway
United Press International
FilAjVAfFOjRT, Maine — Charlie
hfchell is learning the hard way
°ii can expect your mail through
I V sleet, snow and hail but not if
ie mailman has to cross the street.
The Postal Service stopped de
aries to Mitchell’s rural Frankfort
ome two weeks ago, saying his big
tal mailbox is on the wrong side
the road.
A mailman now passes the box
ice a day without stopping, and
itchell has to drive several miles
the Post Office to pick up his
bail.
It’s not bad, though,” he said.
After all, the mail’s 80 percent bills
forV nyway '”
^ About a month ago, the Postal
aSDO Mitchell and 55 other
S, jUl* eople to move their mail boxes
e Freh cross the road. All but two com-
re . u, lied '
' Mitchell remained adamant. He
janlT" aid he will pick up his mail at the
94. (' ost Office, even though that means
e will only receive mail once or
■rice a week instead of daily.
rown
tch.
•ills.
iNCS
They say it not only breaks tradi
tion but will put an “intolerable”
burden on business, much of which
will be passed on to consumers,
thereby increasing inflation.
And they contend the increased
tax will make employers more reluc
tant to hire workers. The U.S.
Chamber of Commerce estimates
the Senate bill would cost the nation
400,000 jobs by 1980.
USD A says just enough
turkeys will he available
United Press International
WASHINGTON—There will
be less turkey and cranberries
this Thanksgiving than last year,
the Agriculture Department
says.
Supplies of turkey and cran
berries in coming weeks are
classed as merely “adequate.”
But, the monthly Food Market
ing Alert report said, consumers
will find “plentiful supplies of
beef, pork and chicken for holi
day meals.
The report covers only poten
tial supplies for the month of De
cember. It does not predict
prices.
The term “plentiful,” officials
explained, means supplies are
more than enough to fill normal
commercial needs. An
“adequate” supply is defined as
just enough to meet normal
needs.
Marketing of newly
slaughtered turkeys will be up 7
percent from last year, the report
said, but storage stocks at the
beginning of December are
down sharply from a year earlier
and total supplies are expected to
be 10 to 12 percent below a year
ago.
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NOVEMBER
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1977
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GROUND
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