year that begins after the date of enactment of this Act. 7. Tax on net earnings from self-employment up to contribution and benefit base and more than $250,000 (a) In general Paragraph (1) of section 1402(b) of the Internal Revenue Code of 1986 is amended to read as follows: (1) in the case of the tax imposed by section 1401(a) for any taxable year beginning in a calendar year in which the contribution and benefit base (as determined under section 230 of the Social Security Act) is less than $250,000, the excess (if any) of— (A) so much of the net earnings from self-employment which is in excess of— (i) an amount equal to the contribution and benefit base (as determined under section 230 of the Social Security Act) which is effective for the calendar year in which such taxable year begins, minus (ii) the amount of the wages paid to such individual during such taxable years, over (B) the sum of— (i) the excess (if any) of— (I) the net earning from self-employment reduced by the excess (if any) of subparagraph (A)(i) over subparagraph (A)(ii), over (II) $250,000, reduced by such contribution and benefit base, plus (ii) the amount of the wages paid to such individual during such taxable year in excess of such contribution and benefit base and not in excess of $250,000