How bad is the tax ‘bite’ out of your paycheck now?
A temporary cut in Social Security withholdings has given us hundreds of extra dollars to spend throughout the past two years.
However, this tax break has now expired and Social Security taxes have reverted back to 6.2 percent of our salary from the temporary 4.2 percent that it was during the tax break.
According to a Yahoo! Finance report, this cut in our paychecks “threatens to put a drag on economic growth.”
What is this going to mean for you and/or your family? (I’d love to hear your comments! You can post them on our Facebook page — you don’t have to be a member of Facebook to view the page — at www.Facebook.com/BetterRoadsmagazine.)
To lighten the mood a little and give you a little music to jam to this morning, here’s Donna Summer’s video, “She Works Hard for the Money.”
From our partners
MORE FROM Aggregates Insider
SUBSCRIBE & FOLLOW
- A truck driver died at a cement plant in Missouri516 Views
- Caterpillar splits with Navistar, will design and build its own vocational trucks in Texas416 Views
- Dolese Bros. spend millions to upgrade another facility in Oklahoma277 Views
- Lafarge NA sells $450 million in assets to Summit Materials269 Views
- A 20-year-old died while swimming in a New York quarry236 Views