In 2007, the Social Security Trustees suggested that either the payroll tax could increase to 16.41 percent in 2041 and steadily increased to 17.60 percent in 2081 or a cut in benefits by 25 percent in 2041 and steadily increased to an overall cut of 30 percent in 2081.
effective rate of protection. the real amount of PROTECTION accorded to domestic suppliers of a final product when a TARIFF is applied to a competing imported final product (see IMPORTS), but either no tariff, or a lower rate of tariff, is applied on FACTOR INPUTS that are imported to produce that product.
How much Income Protection insurance you require depends on a number of different factors. The maximum you can insure yourself for is 75% of your gross income. Premiums for Income Protection are generally tax deductible.However, tax is payable on benefit payments.enefit periods. The benefit period is the period during which you receive your income protection payments. You can generally choose between a two or five year benefit period or up to age 70 for some occupations.