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Small cut in pay

I don't follow the news much because it's all depressing. Yesterday at work they said were getting a cut in pay because of taxes,I guess we'll get 2% more taken out of our check. What's going on here with taxes could someone get me up to date please?

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Asked by MarGeee at 6:20 PM on Jan. 3, 2013 in Money & Work

Level 20 (9,059 Credits)
Answers (3)
  • If I understand correctly, a few years ago there was a tax reduction in the amount of about 2% or so and you saw that extra in your paychecks. That has expired now and it will revert back to what it was before.


    Answer by JeremysMom at 6:27 PM on Jan. 3, 2013

  • They talked about it on NPR the other day and gave an example of someone making $30,000/year would probably have to pay $600/year back in social security.

    Answer by virginiamama71 at 7:04 PM on Jan. 3, 2013

  • Part of fiscal cliff deal 2 percent increase tax on social security. I posted about the in politics and currant events

    Answer by booklover545 at 11:48 PM on Jan. 5, 2013

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