If the Payroll Tax Cut is not extended, what it means for you?
According to the law, if Congress does not pass a payroll tax cut extension, taxes will go up 2% come 2012. That means, 160 million Americans will see their paychecks reduced.
If you earn $50,000 a year, you'll see $40 less per week.
On an annual scale, if you make $35,000 a year, you'll pay $700 in taxes.
Earning $90,000 a year, you'll pay $1,800 in taxes.
Earning $110,100 and up, you'll pay $2,341 in taxes.
WJHG wants to know, what can you do with $40? Comment below and join the conversation.