Tax Relief Over

[slick4591]

FYI: My wife's gubmint job just sent this to all employees.

A temporary federal tax relief measure will end at the end of 2011, so don't be surprised if it has an effect on your take home pay come January.

The Tax Relief, Unemployment Insurance Re-authorization, and Job Creation Act of 2010 reduced 2011 Social Security tax rates for employees from 6.2 percent to 4.2 percent.

Without further changes in the law, these tax rates will return to 6.2 percent beginning in 2012. Here is a chart from the Social Security Administration with more details. The rate change is not part of any county-related policy change or adjustment, but a federally mandated one.

This means that most employees could see a 2% decrease in your take-home pay starting on the first paycheck of 2012.

Sorry, the chart didn't get delivered to me.

 

[Isomade]

I wonder what WISE things the Gubment will do with all that money?

 

[Douglas]

Most everyone thinks it will be renewed.

 

[slick4591]

Most everyone thinks it will be renewed.

I had forgotten about this until the email this morning. It would nice for it to be extended.

 

[backhoeboogie]

In the good old days, you paid up your social security taxes in June and didn't pay any at all for the rest of the year.

 

[dun]

In the good old days, you paid up your social security taxes in June and didn't pay any at all for the rest of the year.

Apparntly you didn;t get the word "The good old days are NOW"

 

[KenB]

In the good old days, you paid up your social security taxes in June and didn't pay any at all for the rest of the year.

I remember those times as well.
A working class job paid decent wages in those days.

 

[gimpyrancher]

When you get right down to it, we are paid, so to speak, the same as we used to be. The difference now is how much working stiffs pay in taxes.

Look at regular private sector wages. Now look at government's income. Which has gone up more? :hide: