“The payroll tax paid by workers increased from 4.2% to 6.2% at the start of the year. The regressive tax is paid by everybody who earns $113,700 annually or less. That means someone making the median income of about $50,000 will pay $1,000 a year more in taxes, or a little more than $19 a week. These receipts are supposed to pay for Social Security and Medicare, but they are actually spent along with all other revenues. I monitor the 260-day moving sum of withheld income and employment taxes deposited at the US Treasury. It was $1,791 billion on December 18. It jumped $25 billion to $1,816 billion on January 18. That’s a significant tax increase.”

http://www.economicpolicyjournal.com/2013/01/how-big-was-tax-hike-for-everyone.html

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