Masonry Magazine July 1975 Page. 30
Advertisers Index...
LET THEM KNOW YOU SAW IT IN MASONRY
P
Patent Scaffolding Co., Div. of Harsco Corp........ 9
S
Stone Construction Equipment, Inc. 2nd Cover
U
United States Gypsum 14
W
Waco Scaffolding & Shoring Co. 25
Western Products, Div. of Douglas Dynamics Corp. 28
A
Anchor Manufacturing Co. 24, 28
B
Bullard Abrasive Products, Inc. 4
C
CNA/insurance 10
Cumberland Corp. 22
E
Robert G. Evans Co. (Target) 12
F
Felker Operations, Dresser Industries, Inc. 23
G
Giant Industries Corp. 24
Gilson Brothers Co. 27
I
International Masonry Institute 4th Cover
M
Mayco Pump Corp. 30
Metal Fabricators, Inc. 27
Morgen Manufacturing Co. 3
N
National Concrete Masonry Association 20
This index is published as a convenience to the reader. Every care is taken to make it accurate but masonry assumes no responsibilities for errors or omissions.
IMI Celebrates Fifth Anniversary
(Continued from page 26)
publication titled Mason Contractor to interpret the professional role played by these businessmen in the construction industry. (4) formation of a committee of four of the leading Deans of Schools of Architecture to determine the current state of masonry instruction in thei their schools and elsewhere as a means of planning future programs for all schools of architecture, (5) promotion of loadbearing seminars with IMI's new guidance booklet titled, Load-bearing Masonry-Loadbearing Seminars, in conjunction with IMI's new loadbearing film and technical slide show. and (6) other projects.
THE $113,000-A-YEAR JOE
Our story involves an ordinary guy. Let's call him Joe. He looks like a lot of other Joes.
You would think that Joe was a lucky man. For the last 10 years he has had pay increases to match every increase in the cost of living. But Joe is still unhappy. His paycheck does not go as far as it used to.
Economists of the Chamber of Commerce of the United States can explain the chagrin of ordinary U.S. Citizen Joe. They tell his story this way.
In 1964 Joe went to work at a pay of $10,000 a year. That year:
His income tax was $1,200.
His social security tax was $174.
His take-home pay was $8,626.
His taxes took 13.7% of his gross earnings.
Now, 10 years later, with a long string of cost-of-living pay increases added to his paycheck, Joe earns $15,400 a year.
His income tax will be $1,908.
His Social Security tax will be $737.
His take-home will be $12.755.
His taxes will take 17.3% of his gross earnings.
Meanwhile, inflation has eroded the value of the U.S. dollar-by 60% since the end of World War II and by approximately 10% in the last year. The $12,755 Joe will take home in 1974 really is worth $529 less than the $8,626 he took home 10 years ago.
So take it from Joe. In 20 years, if inflation keeps rising at the 10% rate, Joe will need to earn $113,000 a year to keep pace. Meanwhile, he will be paying out half his earnings in taxes.
And his take home pay of $57,300 will really be worth only $7,800 of today's dollars.
Sorry Joe.
masonry • July, 1975