General Category > Economy/Business

The payroll tax hike wiped out a year’s worth of wage gains

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happyg:

--- Quote from: NavyCanDo on January 22, 2013, 06:03:47 pm ---Proof  is in the January Paycheck stubs.  Social Security Tax rate increased, going from 4.2 % to 6.2%.
For me that equates to $121.08 a month in higher taxes for SS alone.

So much for his "only raising taxes on the upper 2%”

--- End quote ---

The payroll tax cut took a toll on my son, who has been living paycheck to paycheck. I bought two of his kids a new winter coat this week, knowing he couldn't afford it. Thank God for after Christmas sales!

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