The 2011 Tax Relief Act, in an attempt to spur consumer spending, reduces the employee portion of Social Security Tax by 2%. The tax rate for the employee portion of the Social Security is now 4.2%.  However, the employers are not so lucky, the employer contribution remains at 6.2%.  An employee who is making $50,000 annually will receive an additional $1,000 due to this reduction for 2011.

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