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Second In A Series Social Security Taxes Will Increase In 1968
Bruce Biossat explains the 1967 revisions raise the earnings base to 7800 but keep 1968 tax at 4.4 percent, affecting about one quarter of workers. In 1969 the base stays 7800 while the rate climbs to 4.8 percent, with five more increases through 1987 reaching 5.9 percent, plus Medicare tweaks. Employers match employee contributions. self employed face higher rates and caps.
MENTIONED IN THIS ARTICLE
Bruce Biossat
NEA Publications
Washington
NEA
Social Security Reserve