Word: earners
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...year to live on, and the Social Security system quite openly discriminates against them. The pension is based on earned income, and "mere" housewives earn nothing during their years of work. Widows are entitled to survivors' benefits, but these are generally lower than a wage earner's pension. And a commercially employed woman generally earns less than a man. Thus all widowed or single women over 65 receive an average of less than $115 a month in Social Security, compared with an average $145 for such men. As Ralph Nader has put it, "our society encourages a woman...
...hard-hit. For example, the amount withheld from the wages of a married worker with two children who earns $250 a week will remain virtually unchanged at $30.50. But for an employee earning $400 a week, the withholding will rise from $60.90 to $67.10, and a $500-a-week earner will pay $96.60 v. $84.80. By cutting into the cash that consumers have to spend, the withholding changes could impede the economy's recovery...
Just as the Government withheld too little last year, it may be withholding too much this year. If a married couple file a joint return, but one of the two is unemployed, they very likely will be paying out too much in withholding. Similarly, an earner who expects to have big itemized deductions for home-mortgage payments, medical bills, charity and the like will probably overpay. To ease the weekly or monthly burden for these people, the Internal Revenue Service has created a new exemption called the "special withholding allowance." People who believe that their employer is holding back...
...decade, the gross national product has doubled to $4 billion, and exports have tripled. Emigration, which was draining Ireland of some of its best talent, is leveling off. Manufacturing-from small pottery plants to huge machinery-making factories-has surpassed agriculture as the country's chief foreign-exchange earner...
SUDDENLY, the state of the U.S. economy loomed directly over the lives of almost every American. Wage earner and corporate chieftain, small shareholder and Wall Street operator, vacationer abroad and ordinary consumer at home?each faced a radically altered set of rules as a result of President Nixon's brief, stunning television speech. Millions of Americans, contemplating restrictions on their business and financial lives unprecedented in the nation's peacetime history, spent the week in an uncertain?but vaguely hopeful ?examination of a new economic world...