“The Social Security tax withholding rate is expected to return to 6.2% after two years at 4.2%. So far neither party has expressed much interest in another extension, reports WSJ.   For someone earning the 2011 median income of $50,054 that translates into $1,001.08 a year or about $40 less in a biweekly paycheck.  Below is a WSJ Calculator that will tell you how much more you will pay in taxes.”

http://www.economicpolicyjournal.com/2012/10/why-amount-taken-out-for-your-payroll.html

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