More on the fiscal cliff deal: The payroll tax cut is allowed to lapse, meaning that the...

More on the fiscal cliff deal: The payroll tax cut is allowed to lapse, meaning that the employee portion of the Social Security tax will return to 6.2% from 4.2%. That will cost Americans an estimated $125B a year. The WSJ lays out some of the other tax measures that were known prior to the passage of the bill.

Comments (6)
  • 7footMoose
    , contributor
    Comments (2229) | Send Message
    This is one tax thing that should never been done in the first place. SS is in enough trouble without those morons in Congress adding to the problem or in some people's eyes creating a problem by not allowing the system to work as intended.
    1 Jan 2013, 06:23 AM Reply Like
  • davidingeorgia
    , contributor
    Comments (2661) | Send Message
    Shockingly, the administration and senators from both parties get together and agree to take more money from private citizens and spend it, while at the same time continuing to hand out subsidies and tax breaks to a variety of favored interest groups (you know, the usual buying votes thing). As a bonus, they delay cutting spending on anything. Yes, a real "shocker" that.


    And to hear the MSM report on this, you'd think there was "drama" involved in getting to this outcome. As if the U.S. Congress as currently constituted is capable of coming up with any other sort of outcome. If you thought there was a chance of a different outcome here, you've not been paying attention for the last several decades.
    1 Jan 2013, 08:00 AM Reply Like
  • Bret Jensen
    , contributor
    Comments (14023) | Send Message
    Hey, the 47% have to pay a little something for all their benefits.
    1 Jan 2013, 09:57 AM Reply Like
  • HoldAndBuyInvestor
    , contributor
    Comments (146) | Send Message
    Obama thanks, you ruined the new year. You will remembered as dark spot in us history. Your policies failed us.
    1 Jan 2013, 11:34 AM Reply Like
  • mickmars
    , contributor
    Comments (1312) | Send Message
    So, GE pays zero taxes, but mine go up 2%. That seems fair.
    1 Jan 2013, 02:18 PM Reply Like
  • Remyngton
    , contributor
    Comments (343) | Send Message
    Middle Class ... " bend over " , regards , Obama
    1 Jan 2013, 03:41 PM Reply Like
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