Page 1 of 1 May 1989 Issue of Colorado Springs Beacon in Colorado-Springs, Colorado

Colorado Springs Beacon May 1, 1989 Page 1 old newspaper archives

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Colorado Springs Beacon (Newspaper) - May 1, 1989, Colorado Springs, Colorado A a Zemait. 5senior Beacon in focus for people Over 50 m 0no.fi mm1ii_ 12 dining out16/17. Health care a a a to a10 i Lawn care he 24 i Alene a17 Money a a a a a a a a a a a a a a a a a a a a 8 ii Sere dips in a201 sports vignettes. 18"yellow Book Quot available an up dated edition of the area Agency on aging s Booklet services to senior citizens will be completed and available for distribution Early in May. Commonly referred to As the a a yellow Book a this Booklet provides information on resources for seniors in Park Teller and Elpaso counties. There Are descriptions of seepage 3 serving Active seniors in Colorado Springs area May 1989senior spelling Bee i % we 4 a a Mem Quot % Eddie Wishman 85, listens to a question from third grader Carla Archuleta during the classroom session of the spelling Bee. Anne Brown the second annual senior Beacon inter generational spelling bees Are underway. Co sponsored by the King s table restaurant the spelling bees bring seniors and fifth and sixth graders together for lunch classroom time and a test of their spelling abilities. School District Llos gifted and talented coordinator Maggie Lopez coordinated the spelling bees in three elementary schools Washington Adams and Whittier. Talented and gifted coordinator at Pioneer elementary school Nancy Rad Kiewicz put together the first spelling Bee in District 20. The purpose of the spelling bees is to bring the two generations together to give seniors a glimpse of today a elementary schools and to let the children see seniors As people who see Page 4income tax gouge Middle class older adults James b. Gaffney mature life features Middle income older taxpayers Are facing the highest tax rates imposed on any group in the nations history and some older workers a for every Dollar earned in wages a will lose More than a Dollar in taxes and lost social Security benefits. According to a recent study by the Dallas based National Center for policy analysis Nipa the new medicare catastrophic health care program surtax is Only one of three special taxes mandating High tax rates for retirees. Mature americans also pay a tax on social Security benefits and lose $1 for each $2 of wage income above $8800. Older workers a a Are the people the Supply Side revolution forgot a said Nipa president John Goodman one of the authors of the report adding that Quot while Congress was lowering tax rates for Young workers it raised taxes for the elderly to draconian Goodman says that some workers will have to earn to times As much As the new medicare surtax in order to be Able to pay the surtax and be Able to maintain their 1988 Standard of living. The policy analyst cites an example a 66-year-old widow who owes a surtax of $496 will have to earn $4,930 to be Able to pay the tax. Of this amount $496 covers the surtax. $1969 goes for additional taxes and $2465 is needed to replace social Security benefits she loses by earning additional income. It is estimated that 83 percent of All men and 92 percent of women Over the age of 65 Are completely out of the labor Market even though three out of five have no disability barring them from work. Moreover if current trends continue by the year 2030, there will be one retired adult for every two working americans. Such tax policies which cause some older workers to face marginal tax rates As High As 102 percent Are also causing a massive withdrawal of mature adults from the labor see Page 5 Anne Brown the human service Complex came into being when Golf acres shopping Center located in the 1400-1500 blocks of North Hancock was Given to the City of Colorado Springs in 1986. The City s goals were to create a self supporting Complex that is both senior and Community oriented and to pay off the one half million Dollar mortgage on the property then valued at $1.8 million according to Paul Butcher administrative superintendent for the Colorado Springs Park and recreation department. Under the administration of the Park and rec department approved businesses and service organizations rent space in the Complex. Their rent Money goes into an Enterprise seepage la Sara Mccredie shampoos Grace Shaver s hair at Golf acres Beauty Salon just one of the Many stores at the shopping Center for news Roundup surtax to hit More seniors than projected More older americans will get hit with the controversial medicare catastrophic surtax than Congress predicted and a greater proportion of the of the senior population in northeastern states will pay sur taxes compared with their Southern and midwestern counterparts. According to a new report by the National committee to preserve social Security and medicare More than 46 percent of medicare eligible persons age 65 and older will have a tax liability of More than $150 in 1989. The surtax requires All persons 65-plus to pay an additional $22.50 for each $150 of Federal income tax liability in 1989. By 1993, the organization says almost 54 percent of the nations senior citizens will be paying some surtax a which will have increased to $42 for every $150 of tax liability. Figures in the National committee report differ from data compiled by the congressional budget office because the committee report is based on actual income tax data from the internal Revenue service. The government projection of the tax consequences was based on census data in which actual income is generally Survey Sheds Light on older households today a retirees Are better Able to enjoy life than any generation of retirees in the past according to american demographics in a special report Quot inside americans the report states that Heads of households age 65 and older made greater income gains than any other age group including the 55 to 64 age group. The 65 to 74 age group accounted for almost to percent of the nations 91 million households and had a median income of $16,906, 16 percent greater than that of the age group median income in 1979. Conversely the 12 million households headed by persons age 55 to 64

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