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  • Millions noticing paychecks lighter today, due to payroll tax hike

    01/11/2013 6:21:03 PM PST · by RoosterRedux · 33 replies
    FoxNews.com ^ | 1/11/2013 | Joshua Rhett Miller
    Gabriella Hoffman’s paycheck is a little lighter today, thanks to a payroll tax increase that is forcing millions of Americans to make the kind of tough budget cuts their representatives in Washington lawmakers seem unwilling to tackle. Hoffman, a 21-year-old Virginian who works at a nonprofit, estimates her paycheck will be roughly $30 less this biweekly pay period, or about $780 annually, thanks to the end of a two-year cut on payroll taxes, which fund Social Security. The tax has risen back up to 6.2 percent from 4.2 percent, costing someone making $50,000 annually about $1,000 per year and a...