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.
- CDC Director: Ebola in Africa now an ‘epidemic,’ ‘completely out of control’ Noah Rothman 40 mins ago
- Video: UK takes steps to keep British jihadists from returning Ed Morrissey 1 hour ago
- Quotes of the day Allahpundit 12 hours ago
- Hensarling: It’s time to end the Ex-Im Bank Ed Morrissey 14 hours ago
- Got room for one more crisis? In Pakistan, protesters threaten government’s stability Noah Rothman 16 hours ago
- Engel: Military officials “apoplectic” over Obama’s “no-strategy” comment Ed Morrissey 18 hours ago