The Sidney Herald

SOCIAL SECURITY
TAXES
TO
TAKE
UPWARD
TREND

WASHINGTON—To pay for the present program, Social Security taxes which jumped last January will jump again on January 1 for employees, self-employed persons, and employers, the Chamber of Commerce of the United States points out. But benefits will not increase.

Top tax for employees will rise $24 to $144 a year. Employers will match employee taxes. Top tax for self-employed persons will rise $36 to $216 a year.

To keep the present program on a pay-as-you-go basis, three more identical tax increases are scheduled, in 1963, 1966 and 1969. By 1969 employees will pay $216 if they earn as much as $4,800 a year. Self-employed persons will pay $324 on $4,800 incomes.

The possibility looms that the Social Security tax will leap even higher, the Chamber states. Congress might compel virtually all employees, self-employed persons, and employers to finance hospital and surgical care for 7 out of 10 of the aged.

The Forand bill coming up in the next session of Congress would tax you and your employer to pay for this care, but only for the aged eligible for Social Security. Four million of this nation's aged would get no help at all even though almost every working person would pay the tax.

If Congress should increase cash benefits in later years taxes would have to be increased even more; this would mean even less money for food, clothing, savings, and other needs.

Though some aspects of aging are receiving increasing attention, the Chamber notes that:

1. Many aged persons are still working and can afford to pay their own hospital bills.

2. There is a large and rapidly growing number of aged persons who carry their own hospital and surgical insurance.

3. Families and communities provide for the care of other aged persons.

Americans can be proud that there is no evidence that aged persons do not receive needed hospital and surgical attention because they cannot pay, the Chamber states.

Social Security benefits for these persons, the Chamber points out, would be a major break-through into the Welfare State with consequent spiralling taxes.