Tax cut

Social Security Benefits And The Payroll Tax Cut

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Social Security is a government benefit countless people depend on.  This is true for those who have already retired, are approaching retirement, or are just starting out in the work force.  Those who are fully retired depend on Social Security payments to help sustain their livelihood.  Unfortunately, future generations may not have this luxury.

The price of living continues to rise as incomes and Social Security benefits remains relatively the same.  This means the general population will need to find other ways of supplementing their bank accounts.  In the future, the framework of Social Security may resemble a combination of … Read the rest

Extension On Payroll Tax Cuts Made Because Of Rare GOP Offer

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On Monday, leadership of the House GOP announced its intention to support an extension of payroll tax cuts through the end of 2012. This, of course, will affect 2012 taxes. The GOP plans on offering its support without insisting on offsetting cuts or including unrelated policies in the bill. This bill will likely pass well before its deadline without much argument, which is something that has not happened in Congress for quite a while.

Democrats and Republicans aren’t completely happy with the extension of payroll tax cuts deal, however. The bill is more of a backup plan to keep the … Read the rest