Posted: Oct 21, 2012 7:38 AM
Updated: Oct 21, 2012 7:38 AM
The following story will move as the Monday Spotlight, a feature that showcases the best off-the-news enterprise in the AP report:
WASHINGTON Neither President Barack Obama nor Mitt Romney is talking about it, but come January, 163 million workers are going to see a pretty big tax bite regardless 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. 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. By Stephen Ohlemacher.