President Barack Obama isn't talking about it and neither is Mitt Romney. But come January, 163 million workers can expect to feel the pinch of a big tax increase regardless of who wins the election.
A temporary reduction in Social Security payroll taxes is due to expire at the end of the year and hardly anyone in Washington is pushing to extend it. Neither Obama nor Romney has proposed an extension, and it probably wouldn't get through Congress anyway, with lawmakers in both parties down on the idea.
President Barack Obama isn't talking about it and neither is Mitt Romney. But come January, 163 million workers can expect to feel the pinch of a big tax increase regardless of who wins the election.
A temporary reduction in Social Security payroll taxes is due to expire at the end of the year and hardly anyone in Washington is pushing to extend it. Neither Obama nor Romney has proposed an extension, and it probably wouldn't get through Congress anyway, with lawmakers in both parties down on the idea.
5 comments:
Can't wait to see how Obama talks his way out of this one.
it this it?
907 pssst, both candidates arent trying to keep this cut in place
Hard to believe that so many people out there are still planning to vote for NoBama, for the craziest reasons on top of that.
Why would you want a tax cut, for something that funds Social Security and Medicare? Those same dumb@sses will then complain about those programs not being funded.
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