
From The President
By Bennie L. Thayer, NASE President
This summer is one of the NASE's most active as we tackle the issues of balancing the federal
budget and reforming Social Security.
I'm sure that in recent months you've been inundated with stories about Social Security - how
the system will be bankrupt by 2029; how the system is especially unfair for self-employed
persons who pay 15.3 percent in taxes; and how the system should be reformed.
Not only has the NASE been placed on the steering committee of a Social Security Reform
Coalition, but we are also proud to announce a new partnership that will put us, and you,
at the forefront of Social Security reform. We have joined with Economic Security 2000, the first
national grassroots organization dedicated to reforming and reshaping Social Security.
This organization routinely travels around the country speaking to small-business owners,
seniors, baby boomers and everyone interested in reform. Our message is: Reform should secure
future generations' retirements and achieve equity for the self-employed, maintain the system's
promise to current beneficiaries, and open a new route to savings for every American.
We can accomplish those goals by maintaining the current system and at the same time investing
a portion of the Social Security tax in individually-directed IRA-type accounts. Studies suggest
that this small transfer of funds to investing - even for the lowest paid worker - will increase
retirement benefits two to four times over the current system and at the same time will keep the
Social Security system intact. Economic Security 2000 will be coming to your area soon. We urge
all NASE Members to get involved in this campaign.
This summer will also see a landmark agreement to balance the federal budget by 2002. President
Clinton and Congressional leaders reached a preliminary budget negotiation in May, and the budget
reconciliation process may actually be resolved by the time you read this.
While the House Ways and Means and Senate Finance Committees are still hammering out the details,
as we go to press, several of the NASE's top priorities are included in the preliminary bill:
modernization of the home office deduction, independent contractor clarification, and an
increase in the estate tax exemption to $1 million. Self-employed workers may even get the
100 percent deduction for health insurance under provisions to help uninsured children.
Your representatives need to hear your voice - now. Tell them how these issues affect your
lives every day. Explain that you hesitate to claim the home-office deduction for fear it will
trigger an audit. Tell them that you would like to hire independent contractors, but the process
is too complicated and inconsistently applied by the IRS. Ask them to explain why you do not
receive the same 100-percent health insurance deduction as large companies.
The most important voices for small businesses are your own. Please contact your senators and
representatives. You can find out how to reach them by calling the Congressional Switchboard at
(202) 224-3121. When you add your voice to 320,000 others, you leave an unforgettable message.
Bennie L. Thayer
NASE President
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Economic Security 2000 Dates and Locations
July 15-18
Boston, Worcester and Springfield,
Mass., Providence, RI
Sept. 16-18
New York City and Albany, NY
Sept. 23-24
Hartford and New Haven, Conn.
Oct. 14-16
Milwaukee and Madison, Wis.
Week of Dec. 16
California
For more information,
please call 1-888-SS-FACTS
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