Thursday. February 5, 1981
———————— •
Carolina Review: Respect For ‘Right Wing’
HINTS FOR HUNT ...
Apparently the defeated
Carterites and other
Democrats in Washington
are taking the once ridiculed
‘‘new right” seriously. The
“new right” is the loosely
coalitioned group of far
right Christian con
servatives, mostly
Republicans, who arrived
on the scene just in time,
according to some analysts,
to catapult Ronald Reagan
and a double handful of
Republican senators into
Washington.
The degree of seriousness
with which the Democrats
are taking the new right was
brought to Raleigh last
week by the former press
secretary to President
Jimmy Carter. Jody Powell
was in town to speak at N. C.
State’s “Symposium on the
South” which heard other
such notaries as Atlanta’s
Mayor Maynard Jackson
and the folk hero of
American union organizers,
Crystal Lee Sutton of Norma
Rae movie fame.
Powell, beforp mentioning
the Iranian hostage crisis,
the worsening inflationary
economy, or the blood
letting fight between Carter
and Ted Kennedy, cited the
role of the new right and
surrogate organizations like
the Moral Majority as the
reason for the Democratic
defeat in 1980.
He then outlined a gloomy
picture for Democrats, both
locally and nationally and
especially in the South, if
certain prescriptions aren’t
quickly filled.
Powell’s talk had a special
emphasis for Gov. Jim
Hunt, who’s entire speech
writing and press corps
showed up for the Powell
appearance.
The Hunt people probably
were not surprised at the
message since the most
visible and vocal elected
leader of this new force in
American politics,
discounting President
Reagan, is North Carolina’s
ftj
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Carolina 27932
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Republican Sen. Jesse
Helms.
Powell cited
organizational and fund
raising techniques similar
to Helms’ power base, the
N. C. Congressional Club, as
reasons for the current
Republican supremacy in
Washington. He prescribed
similar techniques for the
Democrat’s survival.
And while Hunt and his
political backers are quick
to caution those who dwell in
the too distant future, most
observers believe there is a
surefire shootout coming in
the 1984 Senate race bet
ween probable contenders
Hunt and Helms.
For the unbelievers (of
how hot the race might be),
Powell suggested' Hunt’s
organization as the role
model for Democrats to
follow nationally.
Even if Hunt doesn’t seek
the Helms’ seat, he will still
have to face the
Congressional Club and
sister Republican
organizations somewhere
down the road.
Powell met with the
governor in a “personal”
meeting during his Raleigh
visit.
GENERAL ASSEMBLY
... Cutting costs from the
state’s sl2-billion biannual
budget and how to raise
money for the Highway
Fund continue to be the
main topics of lawmakers.
Through Friday of last
week, no statewide
legislation had been passed
other than resolutions, and
only one local bill (involving
election terms in Burke
County) had made the “final
reading.”
Creeping up the “interest
barometer,” however, is the
possibility of legislation
calling for a statewide vote
on a S6OO-million school bond
issue.
The school bond issue is
being strongly pushed by
State Supt. Craig Phillips
and some members of the
State Board of Education
THE CHOWAN HERALD
although not yet by the
governor. According to Hunt
spokeswoman Stephanie
Bass, “the governor is still
for the bond issue, he just
isn’t sure this is the right
time.”
In reference to the High
way Fund, a few legislators
are now thinking in terms of
doubling the tax on alcoholic
beverages to avoid raising
the gasoline tax.
BID RIGGING
Secretary of Transportation
Tom Bradshaw announced
last week that he had
Social Security: Fair Return?
Continued From Page 2-B
The benefits for lower
paid workers represent a
higher rate of replacement
of their earnings.
And, this is one of the
main differences between
social insurance and in
dividually purchased
private insurance.
Similarly, if you marry
and have children to sup
port, you would need
relatively higher benefits;
and Social Security pays
more to workers with
dependents than to single
individuals.
In other words, different
workers, depending upon
their circumstances, will
receive different benefits
from Social Security
because it is a social in
surance program.
Even those workers who,
upon reaching retirement
age, have always earned the
maximum and have never
married or become
disabled, were potentially
protected in ways other than
their own retirement
benefits, because of the
provisions in Social Security
that would have benefited
them if they had married,
earned less, or become
disabled.
With relatively few ex
ceptions, workers, including
those who just entered the
suspended contract
engineer James Allen, 49,
pending the outcome of an
investigation of possible
collusion or in
descreptancies by that
employee with bid rigging
contractors.
State officials had
claimed up until then that
there was no indication that
transportation employees
were involved in the
growing list of bid rigging
incidents.
HUNT-EDMISTEN ... An
work force, generally can
expect to receive benefits
equal to or greater than the
taxes they themselves can
expect to pay.
Some people, such as
highly paid workers who
never marry, may expect
benefits that are not worth
as much as the taxes they
can expect to pay.
Let’s focus for the
moment solely on the cash
benefits payable to retired
workers.
A worker who retired at
the end of 1979 at age 65 paid
over his or her working
career no more than $11,203
in Social Security taxes.
That same person would
recover those tax payments
in a little over 17 months as
a Social Security recipient.
If we consider that the
average man age 65 can
expect to live until age 79,
and the average woman age
65 can expect to live until
age 83, then it is easy for us
to see that the average
worker retiring now can
expect to receive far more
in lifetime Social Security
benefits than he or she ever
paid in taxes, even if we
adjust the payments for
interest.
But what about average
young workers, you may
ask? Will they get back what
they paid into Social
Security?
Given the present system,
the answer for most young
workers is, “yes.”
In fact, the average
young working man with
dependents can expect to
receive benefits with a value
more than three times the
value of what he can expect
to pay in taxes under a
reasonable set of actuarial
assumptions.
A working woman who
never marries, and who has
average earnings, can
expect to receive benefits
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Page 7-B
outgrowth of the bid rigging
scandal occurred last week
when Gov. Hunt and Atty.
Gen. Rufus Edmisten got
together to announce plans
for legislation that would
stiffen criminal penalties
for those convicted of bid
rigging in North Carolina.
The legislation would
change some of the
illegalities of bid rigging
from misdemeanors to
felonies and would prescribe
presumptive sentences of
three and a half years with a
maximum sentence of up to
10 years.
worth more than two times
the value of her expected
taxes.
The issue becomes
slightly more complicated,
however, if you consider
what employers contribute
in Social Security taxes.
On average, young
workers as a group still can
expect to receive benefits
from Social Security that
are worth more than the
taxes they and their em
ployers can expect to pay.
For example, if we take
those in the age group 20-24,
they and their dependents
can, on average, expect to
receive benefits with value
roughly 15 per cent greater
than their payroll taxes and
their employers’ payroll
taxes combined.
This calculation includes
appropriate adjustment for
interest that could be earned
elsewhere.
And if we consider only
the taxes the young workers
themselves would pay, then
they would get back 130 per
cent more in benefits.
Again these figures are
projections based on a
reasonable set of assump
tions as to the mortality
experience of the group,
interest rates applicable to
their funds and other ac
tuarial assumptions.
These facts should help to
put to rest some of the
concerns that we have about
getting our money’s worth
from Social Security.
We must remember that
our Social Security taxes
pay for a lot more than
retirement benefits.
The benefits you or your
family will receive from
Social Security are indexed
to rise with the cost-of
living, and Social Security
benefits are tax-free.
Social Security is an in
vestment in your future
that’s hard to beat.
Tutor WILE UMITED
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