Amending the Railroad Retirement Act of 1937: Hearing, 89-1, June 29, 19651965 - 34 pages |
From inside the book
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Page 9
... taxes at the present tax rate of 8 % percent each on employees and employers on compensation up to $ 450 a month . As you know , there is now a deficit in the financing of the benefits in the Railrod Retirement Act of $ 19.5 million a ...
... taxes at the present tax rate of 8 % percent each on employees and employers on compensation up to $ 450 a month . As you know , there is now a deficit in the financing of the benefits in the Railrod Retirement Act of $ 19.5 million a ...
Page 12
... taxes on railroad employers and employees . At the present time the tax rate on each is 8 % percent , applicable to compensation up to $ 450 a month . The railroad retirement account now has an actuarial deficit of approximately $ 19.5 ...
... taxes on railroad employers and employees . At the present time the tax rate on each is 8 % percent , applicable to compensation up to $ 450 a month . The railroad retirement account now has an actuarial deficit of approximately $ 19.5 ...
Page 14
... tax purposes should always be at least as high for the railroad retirement system as the wage base for the social ... rate , as it goes up , has the effect of increasing our tax rate . We do not have a similar provision with respect to ...
... tax purposes should always be at least as high for the railroad retirement system as the wage base for the social ... rate , as it goes up , has the effect of increasing our tax rate . We do not have a similar provision with respect to ...
Page 18
... rate is already scheduled to go higher , as you know . Senator PELL . Right , and at the same time perhaps the only ... tax on the total payroll from 79 percent to some 87 percent . So that only leaves less than 13 percent which is not ...
... rate is already scheduled to go higher , as you know . Senator PELL . Right , and at the same time perhaps the only ... tax on the total payroll from 79 percent to some 87 percent . So that only leaves less than 13 percent which is not ...
Page 20
... taxes by $ 70 million a year and did reduce the deficit . It should be borne in mind ... rate . talking about increasing the base . I am Mr. FINNEY . What I am ... tax money that is collected , that perhaps we can come up with a better ...
... taxes by $ 70 million a year and did reduce the deficit . It should be borne in mind ... rate . talking about increasing the base . I am Mr. FINNEY . What I am ... tax money that is collected , that perhaps we can come up with a better ...
Common terms and phrases
$14 million 1951 amendments 89th Congress actuarial deficit additional taxes amend the Railroad AMERICAN RAILROADS amount equal annual taxable wages BEATTIE bill H.R. calendar month Chairman CLAIBORNE PELL current maximum annual defined in section dual benefits enactment of H.R. entitled equal to one-twelfth financing FINNEY FINNIGAN HABERMEYER income increased taxes Internal Revenue Code level basis maximum annual taxable ment monthly National Railroad Pension paid payments payroll assumption percent of taxable Railroad Pension Forum railroad retirement account Railroad Retirement Act railroad retirement annuity Railroad Retirement Board railroad retirement system Railroad Retirement Tax railroad system Railway Labor record reduce the deficit restrictions section 2(e Senator FANNIN Senator PELL Social Security Act social security benefit social security pension social security system social security taxes spouse's benefit Subcommittee on Railroad Subsection tax base tax rate taxable payroll taxable wage base U.S. SENATOR WAYNE MORSE whichever is greater wife wife's benefit