Reseres Under Federal Old-age Benefit Plan - Social Security Act. Hearing ... on S.Con.Res. 4 ... Feb. 22, 19371937 - 33 lappuses |
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3-percent accumulated advisory groups ALTMEYER amount appropriation approximately beneficiaries billion dollars calendar CHAIRMAN COMMITTEE ON FINANCE Conn contingent reserve contributory old-age pensions difference domestic servants estimate excluded groups Federal Government Federal old-age benefits FINANCE UNITED fiscal full reserve plan full reserve system going Government bonds Government debt half dollars Hartford income Insurance Co invest leave benefit payments mean ment monthly benefits Mutual Life Insurance National Life Insurance Nebr old-age assistance old-age benefit plan old-age reserve account paid PAT HARRISON pay roll pay-as-you-go plan pay-as-you-go system pay-roll taxes payable percent problem public debt question rate of benefit REED AND JENKINS reserve fund revenues Senator BYRD Senator DAVIS Senator GERRY Senator KING Senator TOWNSEND Senator VANDENBERG Social Security Act Social Security Board speak subsidy Sweden tax collections tax rates taxpayer tions Treasury unemployment UNITED STATES SENATE W. T. Grant
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25. lappuse - For such purpose, such obligations may be acquired (1) on original issue at the issue price, or (2) by purchase of outstanding obligations at the market price. The purposes for which obligations of the United States may be issued under the Second Liberty Bond Act, as amended, are hereby extended to authorize the issuance at par of special obligations exclusively to the fund.
12. lappuse - ... ask for a report thereon, that most of its mistakes and weaknesses attach to the fact that its contributory old-age pensions are based on the full reserve system. We submit that such a reserve is unnecessary in a compulsory, tax-supported system; that its ultimate accumulation of a $47,000,000,000 reserve is a positive menace to free institutions and to sound finance and that it is a perpetual invitation to the maintenance of an extravagant public debt; that it will, in effect, transfer the burden...
12. lappuse - It was passed hurriedly 1 126596—37 3 year ago, and all informed persons agree that it needs substantial correction. We raise the basic point and ask for a report thereon, that most of its mistakes and weaknesses attach to the fact that its contributory old-age pensions are based on the full reserve system. We submit that such a reserve is unnecessary in a compulsory, tax-supported system; that its ultimate accumulation of a...
14. lappuse - March 10, 1955, the Secretary of the Treasury appeared before the House Ways and Means Committee...
13. lappuse - Security Act began in 1936, but payments under the contributory old-age benefit plan will not begin until 1942. It seems desirable, therefore, that the Social Security Act should be so amended as to provide for the repeal of the full reserve plan and to substitute in its place a direct pay-as-you-go system with a small contingent reserve.