It looks like it's going to depend on who they work for.
A lot of older Americans rely on Social Security benefits to pay their bills.
There's a lot of ambiguity to employers as to whether they're even allowed to reduce the withholding.
That includes an eviction moratorium and a payroll tax cut.
Extra cash probably wouldn't get people to take cruises or go to concerts.
Much of the discussion around tax reform these last few weeks has focused on income tax and details like tax brackets and tax rates. Meanwhile, 40 percent of taxpayers don’t pay any income tax, while almost all of them see a payroll tax come out of their paychecks. It’s usually listed as FICA and helps […]
Retail sales ticked up by 1.1 percent last month according to the Commerce Department. The growth was better than expected, despite higher gas prices and the payroll tax increase that went into effect at the beginning of the year.
Steve Presser, proprietor of Big Fun toy store in Cleveland, says although the deal to avert the fiscal cliff eases uncertainty among consumers, the payroll tax increase raises a whole other list of issues.