Thursday, December 15, 2011

The payroll taxcut extension in layman's terms

Here's a White House video on what the payroll tax cuts may look like to the average Jose. Republicans continue to oppose these tax cuts for the middle/lower class while remaining absolutely,almost religiously devoted to continuing current tax cuts for the richest Americans.

If the payroll taxcuts are allowed to expire in about 16 days, that means that that an average Laredo family which makes a total of $50,000 in annual income will have $1,000 dollars less to spend in 2012 than they did in 2011.

1 comment:

  1. Thank you for explaining it so well. I'm one of those people that if you throw a "% -percent sign" or "tax" into the equation, I'm totally lost! (not uneducated, just more of a visual person)

    Frustrated "Middle Class" Citizen