Expect your paycheck to be less now thanks to higher government taxes
January 2, 2013
An article on CNN Money explains how the government is taking more money out of your wages starting in 2013. The rate of workers' payroll taxes, which fund Social Security, has been 4.2% for the past two years. As of January 1, 2013 it's back to 6.2% on the first $113,700 in wages. Workers earning the national average salary of $41,000 will receive $32 less on every biweekly paycheck. The higher the salary, up to $113,700, the bigger the tax bite. Click here for the full article: Smaller paychecks coming - bosses say, don't blame us
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