.. are the only two things to be sure of in life, right? Yes, but how much taxes will we pay in 2012? Seems the Republicans are in a corner, at first opposing the proposed extension of 2011’s Payroll Tax Cut through 2012, and now supporting it – but demanding that federal employees’ pay be frozen for three more years. This is news from Wed Nov 30 .. the Democrats’ $265 billion proposal would be offset by a permanent 3.25 percent surtax on annual income exceeding $1 million. So we should see by year-end where we end up, but most economists agree it makes sense to extend the 2011 Payroll Tax Cut. It amounts to some $1,000 on a $50,000 individual salary, and businesses big and small, benefit from it as well.
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