The clothmaker. [volume] (Clinton, South Carolina) 1952-1984, December 15, 1972, Page 3, Image 3
DECEMBER. 1972
ft
Social Security Ch
When President Nixon signed into
law H. R. 1, he brought significant
changes in the social security benefits
and tax rates.
Beginning January 1. 1973, the social
^ security tax rate will increase to 5.857r
from the present rate of 5.2and the
taxable wage base will rise to $10,800.00
from the present taxable wage base of
$9,000.00. This means that the maximum
social security tax to which an
employee will be subject will be $631.80
instead of the present maximum of
$468.00. This tax will be paid in an
equal amount by both the worker and
^ the employer.
Here are some of the major provisions
of the social security reform
bill:
1. Widows will receive 100'V of what
their husbands would have been en
titled to instead of the 82'jrA under
the old law.
. n.v*. *?i . P iuSSW 1 'jCarvRI
KILLS DEER
Johnnie Bragg recently killed this
205 pound, 10 point deer. The rack
measured 24 '/2 inches across. He is
currentlv in the nrocess of having the
head mounted.
He was hunting in the Clinton area.
Johnnie is a Plant No. 2 Loom Technician.
anges Announced !
2. A retired person can earn $2,100.00
in a year without loss of benefits compared
to the previous $1,680.00. Above
?2,100.00 he will lose $1.00 for each
5 2.00 earned.
3. Ail Americans will be issued
Social Security numbers when they
enter school.
4. The waiting period for disability
payments will be reduced from six to
five months.
5. A college student receiving survivor
benefits will continue to get them
at age 22 until he completes a semester.
Previously he lost them on reaching 22.
The above changes become effective
January 1. 1973. Other changes in following
years will also become effective
due to the new law.
/CLINT MILLS
/ vSVn'.s...
i*
3
h
IN SERVICE
Ralph E. Blackwell, Jr., son of Mr.
and Mrs. Ralph E Blackwell, is stationed
in Port of Athens, Greece,
aboard a US aircraft carrier.
His father is a Lydia Weaving employee.
r\
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