Payroll Tax Cut Debate. What $40 Can Do for You?

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.

Comments are posted from viewers like you and do not always reflect the views of this station.
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