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Show er THK OUTFLOW'S BIGGER THAN 8 INFLOW , ,!!; 1:1 Sucial Security is rapidly disappearing and , . ii.i. i In lake constructive action quickly if future . ;v. suller. ; .-5 a,n!v. Soci.il Security expenditures exceeded income if ,: hiiUiui. If something is not done to alter this 'ar j.nv!!m hy the Social Security trustees indicate 6S, Wtu' a ill he insolvent by 1981. . n'i ii.it like the idea, hut higher Social Security taxes early iki-.viry. President Ford has proposed a .6 per cent w mi iiie tax rale by 1977, half to be paid by employes i;ilt io he paid by employers. It would also be wise to plan !CI( turilui increase of 1 per cent, again to be split equally es in employ er and employes. These modest increases would ; i.. ostein solvent for about 25 years more. meou'i. under a quiik in the present law, both wage and uweases are being applied to the benefit calculation for retirees. Projections arc that this may eventually result inelils which exceed a retiree's top wages. This certainly ot he justified and the law should be changed. i |
