Word: social
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Dates: during 1980-1989
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...spent $100 for a pair of shoes, she was so upset she never wore them. And nagging twinges persist. "I still rationalize buying a $3,000 set of sheets," she says. "Well, shoot, why not? You spend a third of your life in bed, and they last." The sheer social inequity of their gilded circumstances gnaws away at some. Declares Paul Haible of San Francisco, who inherited $1 million: "I'm still confronted with people sleeping in the streets. Money may filter that out, but it's not a shelter...
Increase taxes collected on Social Security benefits. Currently, 50% of Social Security benefits are taxable for individuals with incomes over $25,000 and families with more than $32,000. The proportion of benefits taxed could be raised to 85%, while the income threshold could be lowered to $12,000 for individuals and $18,000 for families. Rationale for the 85% figure: typical recipients during their working years have paid taxes on 15% of the amount they receive in benefits. $10 billion...
...SOCIAL INSURANCE $433 no change...
This category primarily includes Social Security payroll taxes...
Among the categories for which no spending changes are recommended are Social Security ($285 billion), transportation ($31 billion), natural resources and environment ($18 billion), general Government ($11 billion) and Justice ($10 billion...