Hopefully, the negotiations about the current fiscal cliff will drag out into February. Why do I want them to last so long? Because I'm guessing that the average employee in the department I manage will have about $200 additional deducted from their paycheck for federal income tax on the bi-weekly payroll that comes out January 28, and I really want them all to see what the Clinton Tax Rates actually look like in their own pocket.
And when they come to me to complain, I will be tempted to say, "That's because Barack Obama thinks you're rich." Not sure what the reaction would be to that comment.
I’m an old payroll guy.
What about the 2% reduct in FICA withholding?
THAT affects waaaaaay more people than most anything.
Keep ear open for this as if they don’t renew it the hollering will be deafening.