CNN: For the average American, all this couldn’t be happening at a worse time: Large home heating bills, smaller paychecks, looming budget cuts and skyrocketing gas prices… Gas prices rise 32 days straight, Increase 51 cents in 2 months.
February 18th, 2013
$5.00 a gallon gas hits California…32 days of higher gas prices comes at tough time…
For the average American, all this couldn’t be happening at a worse time.
Most of the country’s 160 million workers are taking home less pay each week since the payroll tax cuts expired last month.
The government in 2011 had temporarily lowered the payroll tax rate for the first $113,700 of annual earnings in an effort to keep more cash in the pockets of Americans and provide a boost to the economy.
Now, workers earning the national average salary of $41,000 are receiving about $60 less on every monthly paycheck.