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.
- Quotes of the day Allahpundit 52 minutes ago
- Good: Comedienne refuses to apologize for telling jokes Mary Katharine Ham 1 hour ago
- Shocking report: Obama didn’t even finish Jiro’s sushi Mary Katharine Ham 1 hour ago
- Who’s up for a Throwback Thursday with Kim Jong Un? Erika Johnsen 2 hours ago
- Georgia governor signs liberalizing concealed carry law Erika Johnsen 3 hours ago
- McCain: It’s a stain on America’s honor that we haven’t passed amnesty yet Allahpundit 4 hours ago