$2,307.69. subtract taxes and then look at fica, the fee that pays for social security. this person paid $96.93 in december. but now look at that same person s new paycheck in january. gross pay is the same as are the medicare and state taxes, but fica taxes go up sharply, to $143.08. that s a $46.15 hit to the wall let every two weeks. real money for tough economy. put on your suze orman hit. should employees adjust, file new w-4 forms to adjust the with holdings to make up this money? you can if you want to or adjust your lifestyle a little bit. now you re talking about not huge amounts of money here but lifestyle choices that we make in terms of discretionary income, lattes that you buy and
$2,307.69. subtract federal withholding taxes, medicare and state taxes and then look at fica. that s the fee to help pay for social security. this person would have paid $96.93 in december. but now look at that same person s new paycheck in january. gross pay the same and the medicare and state taxes but fica taxes up to $143.08. that s a hit to the wag let, grocery money or a tank of gas every two weeks, real money for real people in this tough economy. to your point, real money to real people and i think people didn t realize it. this deal reached at the 11th hour. the middle of the night it seems always with congress to come up with something and then they get the paycheck. take a look at it and don t quite get what happened there to them. right. i mean, you have to look at every line item on the paycheck to see what happened to you.