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By CHUCK LINK executive director

f eOnnAI. unemployment tax f rate increases: effective Jan. l, 1977, the Federal Unemployment tax rate increased from 3.2% to 3.4%. Since there is a credit of 2.7% for the state tax. the net federal tax in I 977 is l'/o.

The top wage base for payment of federal and statement unemployment tax remains at $4.200 in 1977.

The tax tree shows that the average U.S. family in 1953 had an income of

$5,000 and paid ll.87o of family income in direct federal, state and local taxes.

By 197 5 the average family had an income of $ 14,000 and paid out 22.7% of its income in taxes - or an increase of 92.4% in the portion of income going for taxes!

Truth-in-Lending statements clarified by the Board of Governors of the Federal Reserve System regarding mechanic's lien interests:

(l) A contractor who does not receive compensation for assisting a customer in obtaining fi-

States Lumber Dealers Association South Prince St., Littlston, Co. 80120 (303)795-2826

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