Wednesday, September 2, 2015

Bye, bye paycheck (why you can't get ahead) - Fox Business

0 comments

If we kept as much money as the first line on our pay stub indicates (the pre-tax number), we'd all be better off. But that's not what happens. And the tax bite could become even bigger on Jan. 1.

Fox Business' Gerri Willis says it's possible that nearly half of a middle class earner's weekly pay will be sent to various government entities: the federal payroll tax, Social Security tax, Medicare tax, state income tax and for many Pennsylvanians, the local wage tax.

"Half of everything will go to an entity that didn't earn that money, and shouldn't be entitled to all that dough," Willis writes.

Half of everything will go to an entity that didn't earn that money, and shouldn't be entitled to all that dough.

Read more: http://www.foxbusiness.com/on-air/willis-report/blog/2012/11/15/half-your-paycheck-government-2013#ixzz2ClPl8hZ0

Read the entire story on Fox Business.

0 comments
We encourage respectful comments but reserve the right to delete anything that doesn't contribute to an engaging dialogue.
Help us moderate this thread by flagging comments that violate our guidelines.

Comment policy:

Philly.com comments are intended to be civil, friendly conversations. Please treat other participants with respect and in a way that you would want to be treated. You are responsible for what you say. And please, stay on topic. If you see an objectionable post, please report it to us using the "Report Abuse" option.

Please note that comments are monitored by Philly.com staff. We reserve the right at all times to remove any information or materials that are unlawful, threatening, abusive, libelous, defamatory, obscene, vulgar, pornographic, profane, indecent or otherwise objectionable. Personal attacks, especially on other participants, are not permitted. We reserve the right to permanently block any user who violates these terms and conditions.

Additionally comments that are long, have multiple paragraph breaks, include code, or include hyperlinks may not be posted.

Read 0 comments
 
comments powered by Disqus
Also on Philly.com:
letter icon Newsletter