Masonry Magazine August 1967 Page. 27
Washington Wire
(Continued from page 15)
Congressional critics are the ones who are forcing the cuts in new benefits. Here is what now seems likely to emerge:
- Benefit hikes of 13% across-the-board-not Johnson's 15%.
- The minimum a person gets will rise from $44 monthly to $60.
- The maximum will go up from today's $168 a month to $218.
- Retirees could earn $1,680 with no penalty up from $1,500.
- Medicare will apply to 1,500,000 disabled now on pensions.
The taxable wage base would be increased to $7,800 in the first of January, 1968-from today's $6,600. (The president wanted a schedule going to $10,800 by 1974.) The payroll-tax rate would remain near the 4.4% on employer and worker.
- Bombing would focus on halting supplies-not razing plants.
- Manpower could level off after the extra 45,000 are shipped.
- Victory before November 1968 would be dropped as a goal.
- Losses in battle, though, would be reduced substantially.
There is a growing feeling among officials who cannot by any means be called doves that things cannot go on as they have. Few would advocate just pulling out, leaving the Communists in control. But crushing the Reds decisively requires more resources of men and money than Washington dares to commit.
MANY ECONOMISTS NOW FORECAST AN UP-TREND IN PROFITS before taxes for the rest of 1967.
The experts feel that the second-half business pick-up is certain to bring such gains. It will reinforce a technological situation that could be strongly favorable for earnings. Profits were down 8% in the first quarter, and were also soft in the second, too, as a result of rising labor costs and some persistent, though small, declines in factory output. But now the pace of business is quickening-both sales and production. Though labor costs are still rising, many companies are or soon will be-able to raise prices and restore profit margins. In addition, the new plant added this past year is very efficient. What's more, idle plant capacity (Continued on page 24)
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MASONRY
August, 1967
23