D2O-Lancaster Farming Saturday January 19,1985 Brockett’s Ag Advice Ho Ifl By John E. Brockett Farm Management Agent Lewistown Extension Office Take A Look At Social Security As income tax rates decline (they will again in 1985), social security taxes continue to increase (they will again in 1985). Social security taxes have become a major tax on people with earned income (wages, fees, com missions, self-employed income) between $lO,OOO and $50,000. People with incomes below $lO,OOO have the earned income credit to offset part or all of the social security tax if they have dependent children. People with incomes over $50,000 are in income tax brackets where this tax does overshadow social security. The Future Although the social security system is constantly flirting with insolvency, it will probably never become insolvent. The political repercussions would be too great. Congress and the incumbent President will probably continue to bail it out. They will also continue to play games with it. Un fortunately it will probably con tinue to be used to correct per ceived if not actual social problems. To protect the system, the government may shift some of the burden to general tax revenues (this is actually what has been done with the “earned income credit” for people with earned incomes below $10,000). The long-range forecast will probably mean (1) social security rates will continue to climb but probably not as fast as in the past 10 years; (2) social security maximum taxable income will continue to climb possibly at a faster rate than in the past; (3) some workers not now under social security will be forced to pay (similar to recent action on Amish hiring Amish); (4) some of the fringe benefits collected by social security recipients will be reduced; (5) social security will be treated the same way as any other retirement or pension program; i.e., everything in excess of the recipient’s actual payment will be taxed regardless of income; (6) the amount of social security payments made to recipients will be more in line with the con tributions made by those recipients with a minimum payment only to those with total income below a certain level; (7) continual use of social security as a political and social weapon by politicans as well as activist groups representing various facets of the population. Some Ideas There may be some action that you could take to lessen the future impact of some of the above possibilities on your own family. 1. First, find out if your social security records are correct. Are you credited with the earnings record you believe you have? Check on this by filing form SSA 700+PC (available from any local social security doff ice) with the Social Security Administration. 2. Look at your situation: a. Reduction of self employment social security by paying your own children under age 21. b. Possible reduction of self employment social security by paying spouse. There has been one court case concerning this situation where the court found that a husband paying a wife was subject’ to self employment social security tax on those wages. 3. Are you both employed and have a business? You may want to turn your business over to your spouse, especially if you feel that your social security benefits may be reduced due to your other in come. 4. Don’t try to play games by including the sale of capital assets or unearned income (rent, in terest) in a business or farm in come on Schedule C or F. The social security people will pick it up and disallow it anyway. Meanwhile you have paid extra ‘Good bugs’ to fight bad ones ITHACA, N.Y. - Safe, cost effective alternatives to chemical pesticides can now be home-grown by subsistence farmers in developing countries, according to microbial control specialists at the Boyce Thompson Institute for Plant Research. By lending a human hand to naturally occurring diseases that affect insect pests, farmers in cash-poor areas of Africa, Latin America, and Asia can save their crops by encouraging good “bugs” to fight the bad ones. Microbial diseases - including those from bacteria, viruses, and fungi - control insects without harming plants or humans. The Boyce Thompson Institute ad vocates of biological control maintain that the effectiveness of such control comes without a disturbing after-effect of many synthetic chemical pesticides. BTI scientists claim that there is virtually no evidence of microbial pest control producing a hardier generation of insects from those that survive the treatments. “This approach is particularly important in nations with balance of-payment problems,” says Donald W. Roberts, a BTI insect pathologist. “Unlike most chemical pesticides, the fungi can be produced with local materials and labor and with a minimum of capital equipment.” Roberts is the principal in vestigator in a collaborative research project between the U.S. taxes on that money. You may be able to get some of this back by filing amended returns, but that is a big pain in the neck. 5. Anyone who is self employed and over 45 should probably take out an IRA. Benefits Let’s not talk about eliminating social security. The potential basic benefits are still quite good. Retirement income, protection in the case of an early death by the major income producer, and disability protection could be mighty important to you and your family if the need should anise. INSULATION R. MAX URETHANE (4xB or to your spec) ★ ★ '■i 'li' I , MW*** 3 ** r ' Dili r RD2, Box 267, East Earl, PA 17519 Call us for low prices - (717)354-7561 in developing countries Agency for International Development (AID) and the Brazilian National Rice and Bean Research Center. Concentrating on insects that affect cowpeas - a legume that is a major subsistence crop in poverty-stricken north and northeast Brazil - the program’s researchers have discovered and tested more than 100 types of fungi that produce disease in the cowpea insect pests. One fungus that shows great promise is Erynia radicans, and the BTI researchers are demonstrating that the fungal YORK The Farmers Forum of John Heisey will give a slide the York County Extension Service presentation. Reservations can be will meet Friday, Jan. 25 at 7 p.m. made by calling the Extension at Rutter’s Restaurant, Red Lion, office, phone 757-9657. 1 Kevin Koontz Bedford 2 Mr and Mrs Herbert Rudy Pa Furnace 3 Jeff and Andy Mellott Needmore 1 2 Ken Moore Jr Rome 3 Kevin or Malcolm Koontz Bedford Fall Ram Lamb 1 Ken Moore Jr Rome Pair of Ram Lambs 1 Ken Moore Jr Rome 2 Kevin or Malcolm Koontz Bedford 3 Mr and Mrs Herbert Rudy Pa Furnace Ken Moore Jr Rome Reserve Champion Ram Ken Moore Jr Rome 1 2 Ken Moore Jr Rome 3 Kevin or Malcolm Koontz Bedford Pair of Yearling Ewes 1 Ken Moore Jr Rome 2 Kevin or Malcolm Koontz Bedford 3 Andy Mellott Needmore Spring Ewe Lamg 1 2 Ken Moore Jr Rome 3 Mike Koehler Allentown Fall Ewe Lamb 1 Ken Moore Jr Rome Pair ol Ewe Lambs 1 Ken Moore Jr Rome 2 Kevin or Malcolm Koontz Bedford 3 Mr and Mrs Herbert Rudy Pa Furnace Champion Ewe Ken Moore Jr Rome Reserve Champion Ewe Ken Moore Jr Rome 1 Ken Moore Jr Rome 2 Kevin or Malcolm Koontz Bedford 3 Mr and Mrs Herbert Rudy Pa Furnace Ken Moore Jr Distributor For FIBERGLASS ROLLS BLOWN IN "1 SALES Farmers Forum Open breed shows (Continued from Page Dl9) Cheviot Division Yearling Ram Spring Ram Lamb Champion Ram Yearling Ewe Cheviot Flock Premier Exhibitor WHEELING CHANELDRAIN ROOFING & SIDING Colors In Stock — •White *Gold •Brown »Tan •Silo Blue *Red •Avocado Green • Plain Galvanized •Light Green VINYL & ALUMINUM SIDING & ACCESSORIES • Soffit • Facia • Coil preparation can be easily mass produced for use in cowpea and bean farmsdn Brazil. The BTI project is one of 18 in 10 institutions funded through the federal “Famine Prevention and Freedom from Hunger Act.” The goal of the Bean-Cowpea Collaborative Research Support Program is to reduce hunger and malnutcition by production and utilization of two crops that can be grown in many areas of Africa and Latin America, beans and cowpeas. 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