Increase in Earnings Counted

Increase in Earnings Counted Sec. 104. (a) Subsection (a) of section 209 of the Social Security Act is amended to read as follows: “(a) (1) That part of remuneration which, after remuneration (other than remuneration referred to in the succeeding subsections of this section) equal to $3,600 with respect to employment has been paid to an individual during any calendar year prior to 1955, is paid to such individual during such calendar year; “(2) That part of remuneration which, after remuneration (other than remuneration referred to in the succeeding subsections of this section) equal to $4,200 with respect to employment has been paid to an individual during any calendar year after 1954, is paid to such individual during such calendar year;”. (b) Paragraph (1) of subsection (b) of section 211 of such Act is amended to read as follows: “(1) That part of the net earnings from self-employment which is in excess of— “(A) For any taxable year ending prior to 1955, (i) $3,600, minus (ii) the amount of the wages paid to such individual during the taxable year; and “(B) For any taxable year ending after 1954, (i) $4,200. minus (ii) the amount of the wages paid to such individual during the taxable year; or”. (c) Clauses (ii) and (iii) of section 213 (a) (2) (B) of such Act are amended to read as follows— “(ii) if the wages paid to any individual in any calendar year equal $3,600 in the case of a calendar year after 1950 and before 1955, or $4,200 in the case of a calendar year after 1954, each quarter of such year shall (subject to clause (i)) be a quarter of coverage. “(iii) if an individual has self-employment income for a taxable year, and if the sum of such income and the wages paid to him during such year equals $3,600 in the case of a taxable year beginning after 1950 and ending before 1955, or $4,200 in the case of a taxable year ending after 1954, each quarter any part of which falls in such year shall (subject to clause (i)) be a quarter of coverage;”. (d) Paragraph (1) of section 215 (e) of such Act is amended to read as follows: “(1) in computing an individual’s average monthly wage there shall not be counted the excess over $3,600 in the case of any calendar year after 1950 and before 1955, and the excess over $4,200 in the case of any calendar year after 1954, of (A) the wages paid to him in such year, plus (B) the self-employment income credited to such year (as determined under section 212);”.