TOTAL ANNUAL INCOME - DOLLARS 4500 CHART C COMPARISON OF PRESENT AND PROPOSED SOCIAL SECURITY TABLE D.-Annual income, man age 65, wife and children, receiving maximum social security benefits If he works for $1,454 a year, that is, $1,200 "free" plus equivalent of 1 social secu rity check: Social security eligibility.. Earnings from employment.. Total income. Decrease in total income resulting from additional work. 3,486 4, 248 0 TOTAL ANNUAL INCOME DOLLARS 4500 CHART E COMPARISON OF PRESENT AND PROPOSED SOCIAL SECURITY TOTAL ANNUAL INCOME DOLLARS 4500 CHART G COMPARISON OF PRESENT AND PROPOSED SOCIAL SECURITY Present Proposed Some examples of effect of earnings from work on total income Mr. SARGENT. I have enjoyed all the papers and the talks that my colleagues have made. I would like to say I am not trying to solve all the problems of old people at one bite. There are a lot of them. I think I have a proposal which will diminish some of them fairly substantially. I am talking about two groups of people. I think HEW or social security published in 1957 that there were 1,250,000 people drawing full pensions from social security. About the identical number were drawing no pensions, no benefits, in the same age group, from 65 to 71. In this group of people drawing full benefits I know some of them cannot work because of disability or sickness. Some of them do not want to work no matter what you do, but I believe there is a substantial number who would do more if you encouraged them to do more. I met a man on the subway platform in Grand Central a couple of weeks ago. He used to work for us. He went out at 65. He said, “I am doing all right. I went to Fordham and took a course in bookkeeping while getting unemployment benefits. Now I am getting $100 a week as a bookkeeper." We pay him a pension, he is getting social security. His arrangement with his new employer is they give him $25 a week as salary and $75 a week as expenses. We Another man came in to see us who has been out about 2 years. gave him some counseling information when he was 62. He said, "I am doing all right. The summer before I was 65, I got 2 weeks off without pay added to my 3 weeks' vacation. You need to work 4 weeks as a waiter before you can get a waiter's ticket. I dyed my hair black, went to the Waiters' Union, said I just came in from the old |