What Does Your Paycheck Look Like Post Fiscal Cliff?
People making $50,000 a year who are paid twice each month are now taking home $42 less in their paychecks.
How do you feel about your paycheck two weeks after the Fiscal Cliff deal?
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Two weeks after Congress averted the Fiscal Cliff, Salem area residents have undoubtedly seen the effect of the loss of the payroll tax cut in their paychecks.
If you make $50,000 a year, you are now paying about $1,000 more in federal taxes, according to CBS. For those who are paid twice each month, that amounts to about $42 less per paycheck or $84 less per month.
The Wall Street Journal has a calculator to determine how much more in taxes you are now paying a year based on your salary.
How do you feel about your paycheck following the Fiscal Cliff deal?
Survivor.
2:58 pm on Thursday, January 17, 2013
i think democrats lied
Soujourner Truth
5:20 pm on Thursday, January 17, 2013
That is the payroll tax dedicated to funding Social Security and up til 2 years ago, we paid the exact same rate. This isn't much of a shocker, Patch (or Wall Street Journal...). It was never intended to be permanent, and it was stupid in the first place to cut this tax.
Jeff Hatch
5:27 pm on Thursday, January 17, 2013
Thank you sir may I have another
Patriot
8:41 pm on Thursday, January 17, 2013
It's just $84 per month, and we are only in January. Be careful of what you ask for!!!!!