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Medicare bill looms as taxes to rise for all Americans
The Medicare plan moves toward final passage in Congress, promising health benefits for the aged and broader Social Security changes. Taxes will climb, with a projected combined Social Security and Medicare tax rate of 11.2 percent by 1987, and a separate hospital payroll tax starting at 0.35 percent in 1966 rising to 0.80 percent over time.
MENTIONED IN THIS ARTICLE
Bert Mills
Washington D.C
Congress
Senate
House
Internal Revenue Service
Social Security
Vaid Tome