I just got my first paycheck of the New Year. I always check it to make sure everything looks right. I shouldn't complain because there are so many people who would love to be able to say they are getting regular paychecks, but mine was smaller by about $52 dollars.
I'm not someone who earns close to $400,000/year and $52 each paycheck will make a difference. I guess you really can't call this an increase since it's the payroll tax deduction that's being adjusted. But, when it's added up, nearly $1400 is definitely money that I could have used. I'm really ok with it, since it will ultimately strengthen social security, but the average person out there who isn't paying attention will see this as a tax increase. After all the bloviating by politicians about the middle class and preserving their tax breaks, unfortunately this payroll tax deduction "put back" will be noticed by a lot of people. I just hope they blame the right party. Happy New Year.