Social Security tax rise questioned by federal official
Mrs. Allen notes payroll taxes have risen since 1970 as more groups join Social Security. She argues the program may not be a good buy for well paid workers, noting tax benefits and employer shares, and cites studies by Feldstein Pellechio Brittain and O Neill on negative net wealth for younger generations.
MENTIONED IN THIS ARTICLE
Social Security
Frank Crowley
Congressional Research Service
Myers
UPI
Harvard
Martin Feldstein
Anthony Pellechhio
IRAs Deemed Wave of the Future for Retirement
The piece notes IRAs as a growing private retirement option for workers not covered by pensions. It cites IRS data showing 284,000 low to middle income workers opened IRAs in 1976, while over 474,000 returns came from those earning under 15,000 to 5,000, highlighting rising popularity and calls for expansion. It quotes an analyst predicting broader IRA use as a Social Security supplement or potential replacement, countered by John Brittain of Brookings who argues IRAs cannot replace pay-as-you-go Social Security and stresses inflation protection as a unique Social Security benefit.
MENTIONED IN THIS ARTICLE
John Brittain
Brookings Institution
June O’neill
Congressional Budget Office
American Economic Association
Ated
Treasury Department
Internal Revenue Service
Congress
Brittain
Oneida Ltd
Oneida
N.Y
Americans Unite Over Any Cause in the Trade Association Boom
The National Geographic Society notes that over 5 000 non profit trade and professional groups flourish in the United States since 1854 from cotton manufacturers to mushroom growers and wax poetic about diverse aims. Many groups share one core activity annual conventions. The American Society of Association Executives in Washington runs with a $3 million budget to sustain the craft of association life.
MENTIONED IN THIS ARTICLE
Washington
The
Charcoal Briquet Institute
Society of Roller Skating Teachers of America
National Association of Cotton Manufacturers
United States
National Trade & Professional Associations
Canada
American Mushroom Institute
National Geographic Society
American Academy of Gold
New York
International
Grooving and Grinding Association
Peter Silvers
International Association of Wiping Cloth Manufacturers
Chicago
Robert Mayer
National Goose Council
International Castor Oil Association
Red Cedar
Associated Pot and Kettle Clubs of America
Denver
Biscuit and Cracker Manufacturers Association
Frozen Onion Ring Packers Council
National Association of Horseradish Packers
Potato Chip- Snack Food Association
Popcorn Institute
Association’s Association
American Society of Association Executives
Washington, D.C
Views differ on Senate vote on Panama Canal treaties
In Washington AP reports the Senate faces a tougher path to ratify the second Panama Canal Treaty despite a 68 to 32 approval of the first. Majority Leader Byrd predicts easier victory, while opponents warn the battle has just begun and voter pressure may shift votes.
MENTIONED IN THIS ARTICLE
Washington
Senate
Robert Byrd
Carter
Also Mentioned on This Page
Allen
Ray Marshall
Robert Myers
Rudolph Penner
American Enterprise Institute
Social Security Administration
Dean Leimer
Western Economics Association
Leimer
the Brookings Institution
Killian
Harry Sale
Parkade
Ioneida
Cleo F. Edwards, Cla
Cleo Edwards
Central Life
Cleo
Iowa Association of Life Underwriters
Newell C. Day
Round Table
Chartered Life Underwriter
CLU
Alagda Cay
Lloyd E. Peyton
Iowa
Cedar Rapids
Central Life Assurance Company
Ds Moines
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