Payroll Tax Cut Means More Money In Paychecks

NEW YORK ( — In this new year, workers will find more money in their paychecks.

The tax package signed by President Obama in December includes a two-percent cut in payroll taxes. This one-year reduction means the average American will get an extra $1,000 in take-home pay in 2011.

More details about how this impacts you can be found here. Here’s how the withholding tax will be calculated.



One Comment

  1. Wonderful writing, would love to see a bit more video though!

  2. JHeise says:

    My husband and l get social security which has not had an increase in 2 years but the goverment can cut the the payroll taxes by 2 percent which means an added
    $1000 in take home pay for 2011 year.If that is the case let’s give people receiving
    social security an increase of at least a $1000 this year.Let’s be fair about this
    President Obama

  3. Antho69 says:

    Welcome to the United States of America. Where if you are not greedy and ruthless you are nobody’s just lambs waiting for slaughter. Maybee we should all group together and incorporate our selves. The gov seems to have an easier time giving corporations billions in money and tax breaks.

  4. Dr. Volvo says:

    government is irrelevant – newspapers that keep writing about it will disappear

  5. Bernanke's Dad says:

    The US dollar is in it’s death throes. The economy isn’t coming back as it was and the Fed is just printing money out of thin air to keep the ponzi going as long as it can. Real money is an asset that represents goods and services. That can’t be printed. The public needs to educate themselves as to what’s happening and they need to protect their savings. What to do? Buy things that will retain their value when the Fed continues to debase their currency to hyperinflationary oblivion. Simply put…buy gold, buy silver. Real gold and real silver, not ETFs like GLD and SLV which is a paper promise that is backed by absolutely nothing.

    1. Tito says:

      If we reach the point when ETF’s are worthless, holding gold bars won’t help. We will be in total anarchy and chaos. Best off buying guns and a lot of ammo.

      1. Bernanke's Dad says:

        When the ETFs are proven worthless, the only “currency” of value will be precious metals and you’ll want to be holding physical metal, not some paper promise for the metal. The ETFs have been used as vehicles to suppress gold and silver prices by creating an oversupply. I agree, guns and ammo are worth having as well but don’t minimize the importance of holding physical metals. Those that don’t are going to be unpleasantly surprised.

  6. Energy says:

    Ameriica is just doing pallative and short-sighted solutions. It will never work. Think instead of structural reforms: devalue currency, reduce wages, invest in new science and technology, increase taxes to balance budget, and buy American even if more expensive, save money.

    1. James Wilson says:

      l atlly naive. to think if washington raises taxes they will use it to balance budget

Comments are closed.

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