What that 2% decrease in your paycheck is

By: Suzanne Nogami Email
By: Suzanne Nogami Email

GRAND JUNCTION, Colo. (KKCO) – Today marks the first Friday of the New Year, which means it's payday for some companies.

If you take a look at your paystub, you'll see a few differences.

The biggest difference is your Social Security tax.

The rate went up from last year's 4.2% to 6.2%.

Two years ago, a law passed that lowered the social security tax.

But that expired on December 31st 2012, raising the tax to 6.2% again.

"They're getting less money in their paycheck everyday so, in essence, they have a 2% reduction in their take home pay," said Angela Hildebrand, the owner of Auto Paychecks.

KKCO firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKCO 11News.

powered by Disqus
KKCO NBC 11 News 2531 Blichmann Avenue Grand Junction, CO 81505 Station Phone: 970.243.1111 Business Fax: 970.243.1770 Newsroom Fax: 970.245.3793 News Tip & Contest Line: 970.255.8477
Copyright © 2002-2015 - Designed by Gray Digital Media - Powered by Clickability 185720182 - nbc11news.com/a?a=185720182
Gray Television, Inc.