8 Replies Latest reply on Feb 1, 2011 5:26 PM by JerryD

    Impact of payroll tax holiday

    MyR Community Manager

      For the 2011 tax year, the amount of FICA tax withheld from U.S. workers’ paychecks has been reduced by 2%, from 6.2% to 4.2%, on the first $106,800 of taxable earnings going to Social Security.

      What impact, if any, do you think the move will have on the U.S. economy and/or the Social Security trust fund?