If You Have A Pulse And Get A Paycheck, Read This:
"Your payroll tax is increasing starting January 1, 2013. That’s the tax you’re paying to fund social security (the money your grandma gets from the government).
Here’s a primer on it, but basically you’re “paying it forward.” You’re paying for your granny to receive social security money right now, then people who are younger than us will pay it forward and fund our social security. That’s if they have jobs to fund our social security, but never mind.
Your payroll tax will be sucking out around $80 – $200 of your take home pay each month starting in 2013 (assuming you’re paid twice a month). Here’s how it works out:
>If you make $113,000 or more, you’re going to be taking home about $200 less per month.
>If you make less than $113,000, you’re going to be taking home somewhere between $80 and $200 less per month.
Are we having fun yet? Don’t answer that."