FICA taxes may go up $2.00 on every $100.00 earned

*Excerpt:
You didn’t know that payroll taxes have been reduced by two percent since the beginning of last year?

In my opinion, the media is erroneously telling the working public that $40.00 will be taken out of their by-monthly paychecks if the tax cut holiday is not extended.

That would be correct only if you are already paying $38.00 to FICA on every $100.00 you earn.

In other words, if you are paying $38.00, you would pay an additional 2% or $2.00 on every hundred dollars earned which would bring your total contributions to $40.00.

With my limited knowledge of math, 2% of $100.00 is $2.00.

Where is Glenn Beck when you need him? (Smile)
As always,
BB
P.S. How in hell did Newt Gingrich not get 10,000 signatures in Virginia to get on the primary ballot in March? It should have been a piece of cake. The media continue telling us he is clearly and most enthusiastically the chosen one in all (ahem) polls. A fly in the ointment?

*Obama Wins On A Tax Cut Many Americans Probably Didn’t Know They Had
By Kyle Leighton
Excerpt:
You didn’t know that payroll taxes have been reduced by two percent since the beginning of last year?
Read more at:
http://2012.talkingpointsmemo.com/2011/12/the-bonus-obama-wins-on-a-tax-cut-most-americans-probably-didnt-know-they-had.php?ref=fpnewsfeed