The 6.2% FICA tax/contribution being reduced by 2%...
Actually the 2 cents not collected on each dollar earned, is an almost one-third deduction in the amount collected from employed people for their FICA contribution. Not a 2 percent deduction.
It is a shame that the word percent is thrown around so easily. It helps politicians and salespersons to bamboozle the unsuspecting public.
Example: When the sales tax in MD was raised one percentage point from 5% to 6% it was called a one percent increase.
Actual increase out of people’s wallets: 16%
My worry is that its all smoke and mirrors.
Here we are in the last hours of debate over how much to attack the few producers we have left still willing to do business here in the US. Everyone is agonizing over a fiscal cliff since the rats refuse to negotiate. They don't have to. They win politically and that's all they care about.Low info voters are on their side.
In truth, the country owes 16 trillion heading for 20 and we borrow 40-42% of every dollar we spend and the big spenders refuse to discuss spending. Worse yet its OK with the voting public.!!
For me its time to go fishing. At least the fish are sane!