Word: collectivity
(lookup in dictionary)
(lookup stats)
Dates: during 1990-1999
Sort By: most recent first
(reverse)
...years before it collapses altogether--starting this year--the Social Security system will begin to be a bad deal for increasing numbers of those who do collect benefits. Until now, just about all recipients have got back the sum of their lifetime contributions, plus interest, with just a few years of retirement checks. Everything after that was gravy. But some 1995 retirees will be the system's first losers--meaning the benefits they stand to collect will, on average, fall short of what they paid in Social Security taxes, plus the interest those taxes might have earned if the money...
Right now the process makes everybody look good. The Social Security Administration this year will collect about $58 billion more in taxes than it pays out. The surplus goes into the trust fund, and is "invested" in Treasury bonds. Which means the Federal Government borrows the $58 billion and spends it on aircraft carriers, welfare checks and the like. The government gets to report a deficit of $193 billion, rather than the $251 billion it would have to confess to if it did not have the use of that Social Security money. At the same time, the Social Security trust...
...OUTFLOW: That could mean raise the retirement age from 65. And raise or abolish the early retirement age, now 62, at which recipients can collect partial benefits. Or institute a means-test denying full benefits to those with huge incomes from other sources. Or reduce annual cost of living increases. Or do them all. The general idea is to reduce the total of benefits payable and thus put off the evil day when the system crashes...
...when life expectancy was 10 to 15 years lower," says economist Friedman--still active as a senior research fellow at Stanford's Hoover Institution at the age of 82. It is also very expensive to prompt people to retire at what now seems to be an early age and collect pensions rather than pay taxes that might finance others' pensions for a vital five years or so. The counterargument, voiced by International United Mine Workers of America president Richard Trumka, among others, is that many blue-collar jobs are too physically demanding to be continued beyond, or even...
...Fuhrman hesitated and appeared at a loss for words. As Bailey bore in, drilling Fuhrman with questions about the pre-testimony coaching he had received from prosecutors, the detective stumbled, becoming confused. Judge Lance Ito interrupted the questioning to confer with attorneys for both sides, giving Fuhrman time to collect his thoughts. The defense contends that Fuhrman had both motive and opportunity to frame O.J. Simpson for the murders of his ex-wife and her friend. Next: the defense will probe new allegations concerning an incident where Fuhrman is said to have used a racial slur in the presence...