What the End of the Payroll Tax Cut Means to YOU!
For 2011 and 2012, the employee portion of Social Security was reduced to 4.2% instead of 6.2%. This payroll tax holiday was legislated as part of the Tax Relief Act of 2010, which was then extended by HR 3765 and extended again by HR 3630. Starting 2013, the employee-portion of Social Security reverts back to the full 6.2%.
So in other words, your paycheck is reduced by the % on the chart of your salary (see below).
Maybe you should add this up and factor it into your weekly, monthly, and annual personal family budgets… I will wait for you to do it… done? Well good, now that you are good and pissed off keep in mind that Democrats and Republicans have done this to you. Not one single Libertarian or Constitution Party member has done this to you.
What’s our point? Well our point is that you need to leave the GOP (i.e. the Yankee Party) and join either the Libertarian Party or the Constitution Party.