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Released: October 20, 2011
10 million could pay more Social Security tax
Source: Jeanne Sahadi, CNN Money
Seniors got good news on Wednesday: Their Social Security checks will go up 3.6% next year because of a cost-of-living increase.
That also means an estimated 10 million high-income workers may be paying a bigger tax bill. That’s because the inflation that justifies the benefit increase also will raise the amount of income subject to the portion of the payroll tax supporting Social Security.
Read Full Article: 10 million could pay more Social Security tax
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