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2 nt CLott fr. __ > _ Published moi TCFX' employee: oi I and Lydia ( I ,1 t Clinton, S. C I direction of . , . . Crocker, Indi MiiiiIkt of South . _ _ -p, Atlantic Council of lions U I mliiHt rt:? 1 Kilitors Calvin Cooper E. C. Huffstetler Truman Owens T' a n,.hliol1arc Tkn r items of interest from it to your departmenta personn< Textiles?How lmp< Everyone working in tex and its products are importat national economy and to the i Just how important was recent petition to the Office ( tion seeking a ruling that text defense security of America. The petition included sign ing that the textile industry: ?Is one of the largest en among the manufacturing ind ?Accounts for nine per originating in manufacturing. ?Spends more than $22 b ial and equipment. ?Supplies about $340 mil io siaie ana iocai guvernmeni ?Pay from $300 million porate income tax revenue to ?Represents a capital inv $8 billion. ?Is regarded by the Defe national defense. Six Pe So many times, the mean: you look at them. Take, for relate to interest on loans, ui ports. In many states, six per c< may be charged as interest o nciais ana economists regarc beyond that as immoral and With respect to unemplo; tion's work force out of work figure higher than that is re business conditions and a falti ing a lot of people out of wc With textile imports, how goods which equal six percent is said bv many of these s; economists to be nothing more ing as much as we should. In reality, surrendering si market to foreign-made good: of the income which should could eventually mean surri textile jobs. It is surrendering American textile employees t To people who must con goods, six per cent of the total ingful share of what Americai high quality and the America Six per cent is an awful ! at it. Risks Bigger-R Years ago, a man could se as a small machine shop, for a dollars. Virtually all the work inexpensive equipment. If ht those tools and try something any serious loss. If he succet own. Back in the mid-UKId's inv negligible, bv comparison witl cr with today's complex and 1 adays it takes an investment industrial worker's job possib In the last few decades, t and other policies has been II trad, c*im n / i CUULL tin- u it ahead of productivity have profits. And more than half of away in taxes. Americans are still willin sands of new businesses are st panded. But as the risks g shrink, we face the danger 1 will dwindle, along with the of our economic system. iMKf R "1U1 ithly by and ? of Clinton AV> Cotton Mills, under the Claude A. ' "V ustrial Rela- , Member of American irector. Association ?r Industrial Kdltors Editor Staff Artist Photographer 'lothmaker will welcome s readers. Turn them in 1 reporters or to the ?1 office. Drtant to Economy tiles knows that, the industry it?to our way of life, to the defense security of the nation, brought out in the industry's if Civil and Defense Mobilizaile imports were impairing the ificant facts and figures showlployers of production workers ustries of the nation, cent of the national income ill ion a year for wages, materllion per year in tax revenues ts. to $400 million a year in cor* i? i .<? i iiic 1 crucial ^uvciiiiiicui. estment at book value of over nse Department as essential to r Cent ing of figures depends on how instance, percentages as they ^employment, and textiles im?nt is the legal maximum that n loans. Many government of1 any percentage which goes gouging. yment, six percent ot the nais cause for great alarm. Any garded as a sure sign of poor ering economy, as well as hav>rk. ever, the acceptance of foreign of American textile production ame government officials and than a sign that vvc aren't dox per cent of America's textile s is surrendering six per cent go to American people, and ?ndering six per cent of our * six per cent of the time that ould be gainfully employed, ipete daily with foreign-made I market for textiles is a meanis have built up by hard work, n standard of living, lot. regardless of how you look Rewards Smaller t himself up in a business, such ti investment of a few hundred was clone with hand tools and ? failed, the owner could sell ; else, without having suffered ded, all his earnings were his est moot per worker was almost i the cost of equipping a worklighlv efficient machines. Nowof $16,000 to make the average le. he effect of Federal Tax policy to multiply the risks of busiontives Wai'P hnr?<?ts; rnnnine increased costs and squeezed corporation earnings are taken g to take business risks. Thouarted every year; others are exrow bigger, and the rewards that investment and enterprise growth and job-making ability THE CLOTHMAKER Social Security . . . (Continued from page 1) take benefits before they are 65 will get less per month than they would if they waited until age 65. The sooner a worker takes his benefits after age 62, the greater the reduction in his benefits will be. However, the reductions are figured so that with an average life expectancy he will get the same total amount over his lifetime whether he takes reduced benefits before he is 65 or waits until 65 to start collecting his full benefits. rv i ? a i i i-? lytrjjfiiut'iii nusoamis Denefits, if taken before age 65, will also be reduced, but dependent widowers and fathers can receive full benefits at age 62. The new amendments raise the aged widow's benefits from the present 75 percent of the husband's retirement benefit to 82.5 percent, a 10 percent increase in individual benefits, beginning in August. The same increase will be made in the benefits of aged dependent widowers and those of aged parents if there is only one dependent parent surviving. An increase of up to $7 in the minimum old-age, survivors, and disability insurance benefits is due beginning with the benefit check for me monin 01 /\ugusi. i no present minimum is $33; the new minimum payment will be $40. Under the change, many persons will receive increased payments. Less Work Credit Required Another change lowers the amount of work credit required for old-age and survivors' benefits. The new law makes payments possible for a person who has work credit for one calendar quarter for each year after 1950 and up to the year he reaches 65 (62 for a woman). This means that a man who reached 65 or a woman who reached 62 before 1958 will need credit for only a year and a half of work under social security to qualify for retirement benefits. Survivors of workers who died in 1958 or later and who were not eligible for benefits before this change may now be eligible. These people should inquire at their social security office soon. Another change in the law makes it possible for people eligible lor social security benefits to earn up to $1700 and receive more in total earnings and benefits than under the old law. Under both the old and the new law, a beneficiary can earn $1200 a year and receive all of his monthly social security benefits. The old law, though, required $1 in benefits to he withheld for each $2 earned from $1200 to $1500, and SI for each $1 earned over $1500. Under the new law, $1 is :?li t.i r 1 >i ' wiiiimimu ior t-acn z. earned from $1200 to $1700, and then i $1 for each $1 earned over $1700. Thus, under the new law only $250 in benefits is deducted when the benefici IT'S SCHOOL T 1 HWHISShHI Gosh! Summer's almost ^one Time to buckle down to nine run Fuller, 14 year old son of Mr. Lydia, poses perplexed over the school after a fun packed summ looking forward to it. Terry, a dent and has no trouble or despt or home. He loves all sports, esp ball. We are rightly proud of Fuller. DON'T DC i{ fl Don't ever reach into a mac move lint, waste, or anything els int* moving machinery has beei should never break it. Finders, hi crushed, cut. or torn off if we hi We asked Claude Kernells, c? tion man, Clinton, to pose for the to remind us that most accidei caused. Be careful. A moment ol limb or life. Carelessness doesn't in the home. A few seconds sav poor business. arv earns $1700 during the year. Under the old law $.'150 ei would have been withheld. h The disability insurance b program remains unchanged. A except that workers with e long-standing disabilities are h given another year, until u June JO. 19H2, to file claims c> for benefits. t' Increases in benefits for r widows and for those getting h minimum benefits will be mane automatical iv oeiore the August checks are mailed early in September. It will not he necessary for these 11 people to contact the social security office. s AUGUST. 1961 IME AGAIN i S^I^Hv v^B ftk \ . . . . it's school time again, nths of school work. Terry and Mrs. Homer Fuller, prospects of returning to er vacation. Actually he is 7th grader, is a good stuur with his work in school ecially swimming and footour youth such as Terry } IT!! -? gvVl * |SAI %K| hine that is running to ree. The rule of never elcan1 made to nrotort lls ttV inuIs, and even arms can be leak this safety regulation, irding first shift picker secabove picture. It was set up its don't happen, they are f t bought fulness can save a pay on the job. highway, or i>d at the cost of a hand is Some other people affect;1 by the amendments to the iw must apply before their enefits can be started, uiiong them are older workrs who formerly did not ave enough credit for work nder social security to reeive benefits, workers beiveen (ill and 65 who wish to IIIIU' H'illl ? ? >/1 l ir*rt/ 1 enefits. and dependent wis or fathers. These people should net in >uch with their nearest socil security office, or see hei r social security repreentative.