Skip to main content

View Diary: Tea Partiers whine about payroll tax cut extension but don't lift a finger to stop it (90 comments)

Comment Preferences

  •  To clarify: (0+ / 0-)
    The cap on SS contributions is $106,800 so the 2% tax break represents $2136/yr., $178/mo. and $44.50/wk.

    This is the maximum amount of benefit received from the 2% tax break.  For those who earn significantly less, the tax benefit would be calculated on that annual income, i.e., $30,000/year would yield a 2% tax break of $600/year, $50/mo and $12.50/wk.

    The "additional $40 in your paycheck" is misleading but it works as a positive PR theme.  

    May the forces of evil become confused on the way to your house. George Carlin

    by msmacgyver on Fri Dec 23, 2011 at 11:24:50 AM PST

    [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site