Benefits Down, Taxes Up
Leave it to the government to make less out of more. Social Security just announced that its cost-of-living adjustment for 1999 will be 1.3%, or $10 on the typical monthly check. That's the lowest increase in a decade, even though the cost of living for most seniors is rising faster. But Social Security payroll taxes will rise by $22 a month for millions of taxpayers, because the taxable-wage base is jumping from $68,400 to $72,600.
Taxing the Bare Minimum
Congress didn't provide much tax relief in the spending bill it passed last week, but it did a...
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