Word: taxingly
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Dates: during 1990-1999
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...much will you have to pay in higher taxes to finance Social Security benefits for the Baby Boom generation? If you think this is an unimportant question for a 20-year-old Harvard student, think again. Without any changes, Social Security benefits are projected to exceed payroll tax revenues by approximately $160 trillion from now until 2075. To maintain the exiting system, our generation will have to bear a tremendous burden in the form of higher taxes during our working years and reduced benefits in our retirement years. In fact, economists estimate payroll taxes may have to rise at least...
...problem lies with the "pay-as-you-go" nature of the existing system. In the current system, the federal government collects payroll taxes from worker and firms and immediately uses the money to pay benefits to current retiree. During the past 50 years, this system functioned effectively for three reasons. First, there were a higher number of workers per current retiree. Second, workers' real wages kept rising, and therefore, so did the federal government's payroll tax revenue. Third, Congress repeatedly increased the payroll tax rate (in the past 50 year, it has gone from 2 percent to 12.4 percent...
Paquette says White River has highly appreciated stocks with large tax liability, making it a good investment for Harvard...
...Carney. "It looked very much like he was going to lose on this issue; that the Democrats were going to get their signatures. The Speaker decided to back down rather than suffer the humiliation of having this bill go to floor under petition." Oh well, there's always the tax issue...
...unfair as this may be, the FCC claims it is exempting this new slice of the industry from taxes only long enough for it to get off the ground. Once they start pulling their fair share of the tax burden, though, one can expect IP telephony to become a bit more pricey...