Social Security Tax
Social Security recipients will see a small 1.5 percent increase in benefits next year the government announced Wednesday. The increase is one of the smallest since automatic adjustments began in 1975.
When you get your paycheck on Friday, you may do a double-take at your new take home pay. Millions of Americans will see their paychecks go down after Congressional leaders allowed the payroll tax cut to expire at the beginning of the year.
Congressional leaders are patting themselves on the back Wednesday after finally passing a bill dealing with the fiscal cliff. The bill prevented most tax hikes for middle-class taxpayers, but that doesn’t mean Uncle Sam won’t be taking more out of your paycheck.