Senior citizens would see their Social Security checks shrink under President Obama's latest budget proposal.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
WASHINGTON (AP) -- President Barack Obama isn't talking about it. Neither is Mitt Romney. But come January, 163 million workers will feel a big tax bite regardless of who wins the election.
A temporary, two-year reduction in Social Security taxes expires, and good luck finding anyone in Washington who wants to extend it.
Neither Obama nor Romney has proposed renewing it, and lawmakers in both parties are down on the idea. Even Republicans who have sworn off tax increases have little appetite to prevent this one. Powerful advocates for seniors, like AARP, oppose an extension.
For a typical worker making $50,000 a year, it will mean a paycheck that is about $83 smaller each month. Six-figure, two-earner families will pay as much as $4,500 more in Social Security taxes next year.
Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Click here to see the latest mugshots in Palm Beach County
Click here to see the latest mugshots in St. Lucie County.
Celebrities who died too young include Whitney, Kurt Cobain, Amy Winehouse, Tupac, and Phil Hartman.
Latest News Stories
Railroad officials in Connecticut say the morning commute is going as well as can be expected following Friday's train collision that that injured 72 people and has shut down service.