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Social Security tax to break barrier

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in Small Business Tax

Projections put the wage base for Social Security in six figures for the first time ever in 2008. The projected figure for ’08 is $102,600, up a whopping $5,100 from the 2007 wage base of $97,500.

For some perspective, when the system started in the 1930s, the tax was one percent of the first $3,000 of wages.

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