New Year, Bigger Pay …
The next time you cash your check, expect to find some extra change in your wallets. That’s because today President Obama passed a tax bill that will reduce some taxes in your paychecks…The reduction mostly comes from your social security tax, condensing it from 6.2% to 4.2%. That could add up to much as 20 extra dollars for your spending. We asked Don Moser of Mountaintop his thoughts about the new tax cuts. “I feel that’s a great thing. 20 extra dollars can be used for a lot of things, such as Gas, Food, etc.”
On the other hand, the new bill did not sit well with Adam Yaros of Hanover Township. ‘’ I like the sound of extra money, but I think it is a poor choice for long term social security. It shows poor long term planning,” he said. This new plan though is supposed to stimulate the nation’s spending. The 2011 brand new bill is expected to go into effect, immediately. This will replace the old 2009 Stimulus package, known as Making Work Pay.
(Some source of info on cnn.com)
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