"No one likes increases in tax rates," admitted Republican Representative William Ketchum of California. "But it is time that Congress quit fooling people. There is no free lunch."
In this bullet-biting spirit, the House last week voted hefty increases in Social Security taxes for most U.S. workers and their employers, starting next year. Actually, the Congressmen had no choice. Persistently high unemployment rates have meant a loss of billions in revenue for the system. Benefits for the 30 million people now drawing checks from Social Security are...
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