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.
- Oklahoma will charge homeowners who generate their own power Jazz Shaw 42 minutes ago
- Modern tales of the Good Samaritan Jazz Shaw 3 hours ago
- Gosnell Movie crosses the million-dollar mark Ed Morrissey 5 hours ago
- Open thread: Sunday morning talking heads Allahpundit 7 hours ago
- A blessed and happy Easter Sunday to all Hot Air readers! Ed Morrissey 15 hours ago
- Quotes of the day Allahpundit 19 hours ago