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Old 01-02-2013, 12:56 PM   #43
casino is no lie
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Join Date: Jan 2012
Location: CDT
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Originally Posted by Tampa02e46 View Post
So how much less will someones paycheck be next week for a person making, let's say $50k a year?

I already pay $500 per pay check in taxes, and rent sure as hell didn't go down-Love how that works... In fact, I pay double what I pay in rent, in taxes per month...
Social Security will go from 4.2% to 6.2%. It translates to roughly $83.33 a month in additional taxes assuming the following:

1. They have zero pre-tax deductions (i.e., insurance premiums, 401K, etc.)

2. All other variables from 2012 remain constant (i.e., federal/state tax withholdings, annual salary, etc.).

Last edited by casino is no lie; 01-02-2013 at 12:57 PM.
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