Word: hikes
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...Back in 1983, when Social Security last faced deficits, Congress approved a set of Social Security reforms that included a graduated hike in the payroll tax and an increase in the retirement age. Thanks to those changes, payroll-tax receipts surpassed benefits in 1985, and the system has been operating at a surplus ever since. The money has been invested in Treasury securities that the Social Security system is supposed to live off in the future. In the meantime, it has provided a significant boost to the federal bottom line for almost 25 years. No more...
Princeton may have needed to increase endowment spending as a result of its decision not to compensate for its losses by raising tuition more than usual. Although Princeton, like Harvard, has increased its tuition, the 2.9 percent hike is Princeton’s smallest in 43 years. The modest increase is intended to provide relief for families who have been hard hit by the economic downturn, according to Princeton’s Provost Christopher L. Eisgruber...
...April 1 spiked from 39¢ to $1.01 per pack, as a move that will bolster the federal budget while saving an estimated 900,000 lives. Supporters say the measure will stop 2 million kids from lighting up and spur about 1 million adults to quit, but the sharp hike has some smokers fuming. Cigarette taxes, detractors argue, are a way for governments to line their coffers by legislating personal choice--and a prime example of a regressive "sin tax," the term often used for fees tacked on to popular vices like drinking, gambling and smoking...
Local smokers expressed mixed opinions about the federal tobacco tax increase that took effect yesterday. The tax, which increased the levy from $.39 per pack to $1.01 per pack, was approved earlier this year. For Massachusetts residents, this hike comes on top of the hefty $2.51 per pack state tax on cigarettes. Paul J. MacDonald, owner of Harvard Square tobacco shop Leavitt & Peirce, said that he was unhappy with the substantial tax increase. “We treat everybody like rockstars here [at Leavitt & Peirce.] And obviously the government feels the same way--they think that they have money like...
...Kanel adds that although the tourist board does not "actively promote" this particular pastime, "in this kind of spectacular environment, one can hardly resist the temptation to hike naked...