The temporary decrease in the employee portion of the Social Security Tax is set to expire December 31, 2012. \u00a0Neither party seems inclined to extend it. \u00a0Since the Social Security Tax wage base is $110,00, employees earning over $110,000 do not pay this tax. \u00a0This indicates that this rise in tax rates will only affect the lower and middle class.<\/p>\n
Toppling Off the Fiscal Cliff: Whose Taxes Rise and How Much?<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" The temporary decrease in the employee portion of the Social Security Tax is set to expire December 31, 2012. \u00a0Neither party seems inclined to extend it. \u00a0Since the Social Security Tax wage base is $110,00, employees earning over $110,000 do not pay this tax. \u00a0This indicates that this rise in tax rates will only affect … Continue reading The First Middle Class Tax Increase<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[401,399],"class_list":["post-653","post","type-post","status-publish","format-standard","hentry","category-federal-income-tax","tag-economics","tag-federal-income-tax"],"_links":{"self":[{"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/posts\/653","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=653"}],"version-history":[{"count":1,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/posts\/653\/revisions"}],"predecessor-version":[{"id":654,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/posts\/653\/revisions\/654"}],"wp:attachment":[{"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}