Administration mulls new Social Security financing formula
The text discusses a proposed financing overhaul for Social Security. It compares the existing payroll tax structure to a new formula that would adjust taxes as wage levels and the workforce change. It notes potential future tax implications, with example figures and the possibility of administration action to seek Senate Finance Committee support.
Social Security revamp studied in Nixon plans
Washington reports a new financing method for Social Security was under consideration by the Nixon administration with no decision yet to seek Congress approval. The plan would tie benefits to cost of living and adjust payroll taxes with earnings, aiming to keep a reserve equal to one year’s payout while reducing 1975 and 1977 tax hikes.
MENTIONED IN THIS ARTICLE
Washington
UPI
Social Security
Robert M. Bail
Congress
Advisory Council On Social Security
House
Senate Finance Committee
More jobless less Viet deaths linked
Atlanta based story notes Housing Secretary George Romney ties rising unemployment to fewer U S casualties in Vietnam. He tells the National Association of Real Estate Brokers Convention that two million unemployed are veterans or those out of military service or not producing military goods. He asks if Americans will accept more deaths or higher unemployment at home.
MENTIONED IN THIS ARTICLE
Atlanta
UPT
George Romney
Vietnam
Romney
National Association of Real Estate Brokers Convention
Nixon
Universities face ban on sex quotas in student admissions
A House education subcommittee considers legislation to prohibit universities from limiting enrollments by sex or using quotas for men or women. Backed by the Nixon administration and subcommittee chair Rep. Edith Green, the measure is likely to be included in the higher education bill for floor action this fall. Separately, President Nixon touts a turning economy with rising housing starts, while inflation remains a concern amid overall growth. In Japan, five oil tank workers died and three were injured when fumes in a tank ignited during repairs on the Tsu garu Maru at a Seybo shipyard.
MENTIONED IN THIS ARTICLE
Washington
House
Zher
Edith Green
D-Ore
House Education and Labor Committee
Sasebo
Japan
UPI
Tsugaru Maru
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