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FBN's Jeff Flock talks to taxpayers about the first payday since the fiscal cliff compromise.
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Panetta thank you very much everybody expects to get hit their paycheck to -- -- the year but.
That this year is different after the fiscal cliff cut compromise.
The odds are more of you have even less than you thought you would have today -- game Jeff Flock with the story Jeff.
-- payroll tax holiday you know we have been paying six point 2%.
Toward our our Social Security.
For pension whatever that you wanna call it.
But there was a holiday of 2% so -- only paying four point 2% for the past two years well.
As part of the fiscal kind -- -- compromise that went away.
A lot of people don't know that I -- just talking -- this young lady here coming out of Victoria's Secret I hello Larry did you know you're getting less in your paycheck.
No I didn't -- -- -- And not about basket much you make but if you make let's put the numbers up if you make about 50000 dollars you're hit -- almost a thousand dollars.
-- the year.
-- -- Is that from such securities -- exactly it's from the Social Security tax noted that the numbers were put up on the screen right now and show various different income levels and that you know it is from all of though the whole combined impact of the taxes and the fiscal -- compromise but just for the payroll tax.
It's a thousand that was left less if you make 50000.
-- Well I mean another fiscal -- had gotten -- -- the chaos -- they voted on -- -- is it.
Necessarily -- -- finger a bad thing I guess.
That the Texas -- -- -- ADR -- year -- some people think it's a good -- because it puts more money into Social Security -- maybe -- -- -- chance of collecting and some -- -- -- it but is it in true that -- -- won't even really exist in the future I guess you know -- that's a very good question I don't think either of us know the answer affluence.
While -- on the good side if I am glad about the chaos is gone in that you know Texas on and I -- everything things like shopping isn't I was gonna say you -- -- -- something new Victoria's Secret I've attempted to ask you what you got but I'm gonna.
And I don't know.
Or go to he had no we have are the things -- my sisters of yeah I mean late.
People wake need luck to -- it's actually a good thing that the techs sitting though I think that expected at least I'm.
And some businesses are people who have to deal without tight but we didn't go off the cliff he and leading topic of -- -- -- Well excellent.
Mercedes thank you so much I appreciate it's always great -- all the talk to folks on the street you get a real sense.
Of what everybody thinks I was worried about to -- for second you -- -- Jeff Flock the end of directly to back became an interview me.
And Sam had a at a Victoria's Secret and Skokie Illinois only Jeff Flock -- -- -- power.
