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.
In some areas, the annual percentage rate (APR) is the simplified counterpart to the effective interest rate that the borrower will pay on a loan. In many countries and jurisdictions, lenders (such as banks) are required to disclose the cost of borrowing in some standardized way as a form of consumer protection.