The clothmaker. [volume] (Clinton, South Carolina) 1952-1984, September 15, 1972, Page 5, Image 5
CLOTHMAKER
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Betty Ann Lambert is the charming
three-months-old daughter of Mr. and
Mrs. Sam Lambert. She is the granddaughter
of Mr. and Mrs. Odell Lambert
and Mr. and Mrs. L. F. Kay.
%
SOCIAL feSECURITY
INFORMATIONS
I " X
Social Security In
An estimated 28 million retired
Americans will receive a 20% increase
in social security benefits as a result of
npw loi'i sin t inn nnccoH li\r rAnmnc^ utiH
^ signed by President Nixon in July.
^ Clinton employees will receive a less
desired result?an increase in the deduction
from pay for Social Security
tax. In 1973 the maximum deduction
for Social Security tax will go from
$468 to $594?an increase of 27%. Then
in 1974 the maximum tax will zoom up
to $660, a climb of more than 409? in 2
years.
Since January 1, 1970 Social Security
benefits have climbed more than 509?'
% while the cost of living increased 10'?
for the same period. After the scheduled
1974 increase eoes into effect the
maximum Social Security tax will have
climbed more than 75% since the beginning
of 11)70. Many people now pay
more Social Security tax than income
tax which is an alarming fact.
The new Social Security benefits are
the biggest increase in Social Security
^ ever and became effective September 1.
[* * jB
* I
-W 1
Ashley Salters is the charming daughter
of Don and Sandi Salters of Joanna.
She is six months old.
Ashley's maternal grandparents are
Mr. and Mrs. Edgar Ballew. Edgar is
a Plant No. 1 Assistant Overseer.
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The higher Social Security payments
will be in checks mailed in October.
In addition, for the first time the
Social Security law provides that future
Social Security benefits will be under
an escalator provision tied to the government's
cost of livinn inHtw unH l?ono.
fits will increase automatically, whenever
the index goes up 3'7c or more in
a year.
The new tax increase to support the
improved benefits will go into effect
January 1, 1973 when both the tax rate
and wage base on which it is paid will
climb upward
Starting next January the Social Security
tax deducted from wages will
climb to 5.5';; of the first $10,800 in
annual i I 111' lit.\ rail" L'UrrCIUiy
is 5.2'/< on (ho first $9,000 of earnings,
which results in the current maximum
tax of $408 annually.
On January 1. 1974 the wage base on
which the new 5 5'{ Social Security tax
is levied will i use to the first $12,000 of
earnings, a $000 tax annually.
After 1974 the taxable wages will rise
5
IT FIGURES
Be it ever so humble, there's no place
like home
For cutting your finger or bashing
your dome,
For twisting an ankle or blacking an
eye,
Or breaking a leg when you don't
even try.
But women who stav i r> tVio hnmo oil
day long,
Are only the spotters of things that go
wrong.
Th?-y wait till the man of the
household returns
To light up the furnace and get all the
burns.
They hand him the knife that is sharp
as an adder.
They stand at the bottom while he
climbs the ladder.
They're suddenly helpless and shy
and retiring
When someone must check on that
place in the wiring.
Oh. sweet little women do housework
ail day,
They sweep and they dust and they
put things away.
They've songs in their hearts, and
they've lots of endurance.
But their husbands, let's hope, are
the ones with insurance.
?Richard Armour in Quote
ISew Baby
Mrs James SuI
_ ber Droudlv holds
- her new baby
daughter, Carrie
Ulonden Suber.
s, Carrie was born
1^1 paternal grand *.
M mother is Mrs.
Carrie Mae Suber.
James is employed
at t'lC ? a ' * e y
automatically, under a new escalator
provision, as the general wage level
rises. "Up and up it goes, and when its
going to stop nobody knows," seems to
wen aestnue xne social security
tax we now have in the United States.