; or . (b) Further additional hospital insurance tax on very high income taxpayers (1) In general Section 1401(b) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: (3) Further additional tax (A) In general In addition to the tax imposed by paragraphs (1) and (2) and the preceding subsection, there is hereby imposed on every taxpayer (other than a corporation, estate, or trust) for each taxable year a tax equal to 1.2 percent of the self-employment income for such taxable year which is in excess of— (i) in the case of a joint return, $500,000, (ii) in the case of a married taxpayer (as defined in section 7703) filing a separate return, ½ of the dollar amount determined under subparagraph (A), and (iii) in any other case, $400,000. (B) Coordination with FICA The amounts under clause (i), (ii), or (iii) (whichever is applicable) of subparagraph (A) shall be reduced (but not below zero) by the amount of wages taken into account in determining the tax imposed under section 3101(b)(3) with respect to the taxpayer. . (2) No deduction for further additional tax (A) In general Section 164(f) of such Code is amended by striking section 1401(b)(2) and inserting paragraphs (2) and (3) of section 1401(b) . (B) Deduction for net earnings from self-employment Section 1402(a)(12)(B) of such Code is amended by striking the rate imposed under paragraph (2) of section 1401(b) and inserting the rates imposed under paragraphs (2) and (3) of section 1401(b) . (3) Technical amendment Section 1401(b)(2)(B) of such Code is amended by striking section 3121(b)(2) and inserting section 3101(b)(2) . (c) Effective date The amendments made by this section shall apply to net earnings from self-employment derived, and taxable years beginning, on or after January 1 of the first calendar year that begins after the date of enactment of this Act. 4. Taxes on unearned income (a) Modifications to tax on net investment income (1) In general Section 1411 of the Internal Revenue Code of 1986 is amended by