The Social Security tax is imposed on the first $106,800 of taxable income. Under Obama's bigger tax cut, an extra $1,550 would go to taxpayers earning $50,000 a year. The maximum savings would be about $3,300 for an individual and $6,600 for a couple.
The pay roll social security tax cuts should be raised and definitley not cut. Why Barack Obama keep picking on the Americans on social security for slapping and specially those at lower income brackets.
Is he about to destroy the social security?
Shame.
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