Headed For A Showdown?An inside look at the issue that promises to get the attention of an apathetic Congress
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Social Security reform is apt to be the only red-hot issue inwhat is expected to be an otherwise lukewarm Congress. The need toassure the system's solvency, which will evaporate by 2030 ifno changes are made, poses potential dangers--and an opportunityperhaps--for entrepreneurs.
The key question for business owners is what will happen to the12.4 percent Federal Insurance Contributions Act (FICA) payrolltax, of which employers pay half. Will it be increased to assurethe long-term viability of the Social Security trust fund? Or mighta reduction result from using some of the estimated $1 trillionbudget surplus to keep the system awash in cash?
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