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.
Sometimes called a protection period clause, protection clause, or extender clause. Occasionally, behind the listing agent's back, a buyer and a seller agree to postpone entering into a contract until after the listing expires, to save the cost of the broker's commission. A safety clause prevents this strategy from working (unless the buyer and seller are willing to wait a long time).