The reason is that, while income tax rates have been largely preserved outside of upper income-earners, payroll taxes are going up on everyone by 2%. In 2011, Congress passed a one-year extension of a temporary payroll tax cut, from 6.2% to 4.2%. It's heading back to 6.2%,...
In response to:
Henry i'm with you i can't wait for the stupid demlibs get what they deserve!!! hope sooner than later
Both the Senate and the House passed legislation yesterday to avert and delay the fiscal cliff. But make no mistake - every worker on a company payroll is going to see a tax increase. Take a close look at the first paycheck of 2013 and compare it with the last one of 2012.
- Subtle: Pro-Kay Hagan fliers warns GOP victory with lynching images Noah Rothman 37 mins ago
- Age of Enlightenment: NY university offering training for couples on how to break up Jazz Shaw 1 hour ago
- Michele Bachmann must be doing something right if ISIS is after her Jazz Shaw 1 hour ago
- The worst political ad ever? Or the most awesome? Jazz Shaw 2 hours ago
- Quotes of the day Allahpundit 11 hours ago
- Video: Phoenix business owner foils bank robbery by waiting at get-away car with his gun Mary Katharine Ham 12 hours ago