Our 111th Congress has decided to reduce the employee portion of Social Security Tax by 2%. 6.2% to 4.2%. YES that means a 2% raise for you.
What does it mean for the Social Security Solvency, yeah. 2% less over the next year. In 2012 the rate goes up by 2% at the minimum. YES there is still a cap of $104,000.
Enjoy your pay raise.