Word: bracketed
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Dates: during 1970-1979
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John A. Brittain, an economist at the Brookings Institution in Washington, calculates that Social Security payments, including "contributions" of employers to the system and to state unemployment tax funds, amount to 13% of the incomes of Americans in the lowest federal income tax bracket. Most economists believe that the worker in effect pays his employer's Social Security contributions-about half the worker's own payment-because his wage would be higher without them...
Rising Tide. Other economists point out that effective tax rates on top-bracket individuals have been declining steadily since World War II, because of a combination of loopholes and rate reductions, while rates on lower incomes have increased because of the growing importance of regressive sales, payroll and Social Security taxes. Joseph Pechman, another member of TIME'S Board of Economists, has found that the effective rate of federal income tax paid in 1967 by the top 1% of taxpayers was only 26%, even though the nominal federal tax rates on their income brackets ranged...
...says Laslo Benedek, director of a European mystery titled The Night Visitor. Liv has been accustomed to working in Scandinavia for between $10,000 and $20,000 per picture and being treated as just another member of the company. Now she is in the $200,000 bracket and is as delighted with her limousines and roses from the producer as a girl at her first prom. "I like to be regarded as a star," she says. "I like to be at the center of things in a press conference, stay at fancy hotels and swim in luxury. But that...
Under the new plan, some loans to students from families in the $18,000 $25,000 bracket and higher will cost as much as $400 more than comparable loans accepted last year...
...change has affected virtually every geographic and demographic category, as the chart on this page shows. Thus Nixon has increased his lead in every age bracket. For example, one month ago TIME'S poll showed McGovern leading by 5 percentage points among the 18-to 24-year-old voters. Now Nixon holds the edge-3 percentage points. Even more ominous, 21% of the college youth and 26% of non-college youth view McGovern less favorably now than a month...