“The headlines all talk about taxes being increased, as a result of Obama and Boehner scheming, for those earning over $400,000 per year, perhaps $1 million per year. Nothing for you to worry about, right? Not so fast. Little discussed is the fact that the payroll tax is very likely to go up. Letting the payroll tax rate revert to the old 6.2% from the current 4.2% would raise government revenue by about $125 billion next year, equivalent to 0.8% of total U.S. economic output, according to J.P. Morgan Chase. WSJ estimates that it will mean an average tax increase of about $1,000 a year for the typical American household making about $50,000 annually.”
http://www.economicpolicyjournal.com/2012/12/why-your-take-home-pay-will-drop-in-2013.html
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