Magazine content is available exclusively for TIME subscribers.THE CONGRESS: Tiddly Week
Reported last week by Chairman Bob Doughton's House Ways & Means Committee were Administration amendments to the Social Security Act. Their prime object was to scuttle the illusory "full reserve" ($47,000.000,000 by 1980) planned for Social Security insurance for the aged, try for a collect-as-you-pay system by upping immediate Federal contributions, reducing intake from payroll taxes. Recommended changes:
> Save employers and workers $275,000,000 in 1940, $825,000,000 in three years by freezing payroll levies for old-age insurance at 1% in 1940-41-42, instead of upping the rate to 11/2% next January 1as the...
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