Small business is the heart of our economy. Here are three simple things government could do to encourage entrepreneurship and small business ownership.
First, give self-employed people parity with employees on FICA. When you work for someone else, you are required to pay 6.2 percent of your income for Social Security. But if you leave your employer to start your own business, you have to pay both the employer’s and the employee’s portions, bumping the tax up to 12.4 percent. This is a huge disincentive for many people who might . . .
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