While most people see this 1/3 cut as more money, it doesn't make a damned bit of difference to people making over the max withholding; it'll just take a little while longer to make that freedom point. What this really is, is a tax cut for middle and lower income people who will never reach that withholding maximum. It isn't rocket science.
...meant to say “excess used for General Corruption fund” instead of repeating....cut and paste got the best of me.
I do think that the taxable earnings cap at 106,800, same as 2010. So, you (or any max payer) will save 2 per cent on that, or a bit over $2,000.