changes in tax schedules

changes in tax schedules Sec. 202. (a) Section 1401 of the Internal Revenue Code of 1954 is amended to read as follows: “SEC. 1401. RATE OF TAX. “In addition to other taxes, there shall be imposed for each taxable year, on the self-employment income of every individual, a tax as follows: “(1) in the case of any taxable year beginning after December 31, 1956, and before January 1, 1960, the tax shall be equal to 3⅜ percent of the amount of the self-employment income for such taxable year; “(2) in the case of any taxable year beginning after December 31, 1959, and before January 1, 1965, me tax shall be equal to 4⅛ percent of the amount of the self-employment income for such taxable year; “(3) in the case of any taxable year beginning after December 31, 1964, and before January 1, 1970, the tax shall be equal to 4⅞ percent of the amount of the self-employment income for such taxable year; “(4) in the case of any taxable year beginning after December 31, 1969, and before January 1, 1975, the tax shall be equal to 5⅝ percent of the amount of the self-employment income for such taxable year; and “(5) in the case of any taxable year beginning after December 31, 1974, the tax shall be equal to 6⅜ percent of the amount of the self-employment income for such taxable year.” (b) Section 3101 of such code is amended to read as follows: “SEC. 3101. RATE OF TAX. “In addition to other taxes, there is hereby imposed on the income of every individual a tax equal to the following percentages of the wages (as defined in section 3121 (a)) received by him with respect to employment (as defined in section 3121 (b))— “(1) with respect to wages received during the calendar years 1957 to 1959, both inclusive, the rate shall be 2¼ percent; “(2) with respect to wages received during the calendar years 1960 to 1964, both inclusive, the rate shall be 2¾ percent; “(3) with respect to wages received during the calendar years 1965 to 1969, both inclusive, the rate shall be 3¼ percent; “(4) with respect to wages received during the calendar years 1970 to 1974, both inclusive, the rate shall be 3¾ percent; and “(5) with respect to wages received after December 31, 1974, the rate shall be 4¼ percent.” (c) Section 3111 of such code is amended to read as follows: “SEC. 3111. RATE OF TAX. “In addition to other taxes, there is hereby imposed on every employer an excise tax, with respect to having individuals in his employ, equal to the following percentages of the wages (as defined in section 3121 (a)) paid by him with respect to employment (as defined in section 3121 (b))— “(1) with respect to wages paid during the calendar years 1957 to 1969, both inclusive, the rate shall be 2¼ percent; 70 Stat. 846 “(2) with respect to wages paid during the calendar years 1960 to 1964, both inclusive, the rate shall be 2¾ percent; “(3) with respect to wages paid during the calendar years 1965 to 1969, both inclusive, the rate shall be 3¼ percent; “(4) with respect to wages paid during the calendar years 1970 to 1974, both inclusive, the rate shall be 3¾ percent; and “(5) with respect to wages paid after December 31, 1974, the rate shall be 4¼ percent,” (d) The amendment made by subsection (a) shall apply with respect to taxable years beginning after December 31, 1956. The amendments made by subsections (b) and (c) shall apply with respect to remuneration paid after December 31, 1956.