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Show ' PENSION COSTS UP ! Wial Security Taxes to Be Hiked Jan. 1 i Beginning January 1, 1950, some 39 million workers and 2.75 million employers would be dipping Into earnings to pay Uncle Sam 667 million dollars more annually in the cost of social security. On that date, worker contributions contribu-tions would be one and one-half cents on each dollar earned, while employers would pay a similar per cent on total payrolls. The old system, which included only a 1 per cent levy, was changed when congress enacted a law hiking hik-ing the levy by V per cent. IJ was pointed out that there will be ho change in the schedule of benefits, despite the tax raise. Under a bill passed by the house and pending in the senate, pension taxes might go even higher. Many hoped they wouldn't. |