Comment on Why your paycheck's getting smaller, no matter what: There may be no escaping higher taxes come Jan.

Why your paycheck's getting smaller, no matter what: There may be no escaping higher taxes come Jan.

President Obama is trying to push through legislation to keep broader middle class income taxes from rising by Monday night. But they may still have to pay at least 2% more in payroll taxes. That's because the government had temporarily lowered the payroll tax rate in 2011 to 4.2% from 6.2%, in an effort to keep more cash in the pockets of Americans and provide a boost to the economy.

 

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