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Record #:
30095
Author(s):
Abstract:
There is a bill now under consideration in Congress that will freeze the tax on employer and employee for old-age and survivors benefits at the present rate of 1 percent for 1945. The main reasoning behind the freeze of the Social Security Tax is worry that there is inadequate reserve in the trust funds for the present. If the bill does not pass, there will be an increase to 2 percent.
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Subject(s):
Record #:
30219
Author(s):
Abstract:
The Executive Director of the Tax Foundation argues that taxes will be cut unless Congress takes steps to prevent these cuts. Areas that could prevent increase would be in alterations to excess profits tax, individual income tax, and selective excise taxes.
Source:
Subject(s):