Deal Ended: 2% discount on Payroll Taxes (ENDED)
If you are budgeting for new digital camera purchases in 2013, we have some breaking news for you. The 2% rate-discount on Payroll taxes (for employed and self-employed individuals) ended on 12/31/12 and it was not renewed by Congress during the emergency fecal cliff drama. This development is something that is under-reported and mis-reported by the mass-market corporate media, so we are making sure people are aware of it. This brings the payroll tax rate back up to the previous rate (6.2%) before the temporary stimulus discount was launched and had brought it down to 4.2%.
A 2% increase on a $50,000 household income is $1,000. 2% on a $100,000 household income is $2,000. This is like removing a nice lens or a nice camera body from your purchase list :(