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Why Your Paycheck is Smaller

Jan 15, 2013 -- 7:06am

(Photo by PAUL J. RICHARDS/AFP/GettyImages) 

It's January 15th and many people are getting their first paycheck of 2013 and yes it is smaller!  Why?  Well in avoiding the fiscal cliff, Congress let the reduction in social security taxes expire bringing it back to 6.2%.  It had been temporarily reduced to 4.2%.  Ugh!!  Read more about it from Yahoo Finance by clicking here.

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