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Social Security Proposal Would Tax Wages for Broad Plan
The article outlines a proposed expansion of old age and survivors insurance, raising the payroll tax to 4 percent by 1950 to cover benefits projected to rise from 5.9 billion in 1960 to 16.9 billion by 2000. It notes that existing 2 percent tax is insufficient and discusses funding gaps, potential general revenue subsidies, and arguments for shared costs with employers and the public treasury.
MENTIONED IN THIS ARTICLE
Selig
Congress
Social Security Administration
Arthur J.altmeyer
House
Ways and Means Committee
Altmeyer