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Beginning with 1968, earnings up to $7,800 a year will be subject to social security contributions and will also count toward social security benefits. For a worker earning the maximum of $7,800 or more a year, this will mean additional socials security contributions of'$4.40 more per month in 19687-rising to a maximum additional contribution of $7.28 per month in 1987 and later, including the amount he pays for his and his wife’s hospital insurance under medicare.
These higher paid workers who will be paying substantial ly more in social security con tributions are, however, the ones who will also get substantially higher benefits, ranging up to 30 percent higher than under present law. For example, a young man now 27 or younger who pays social security contributions on $7,800 a year until his retirement at age 65, will collect 30 percent more in monthly benefits than he would under present law -- $218 a month
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