Analysts’ advice on tax break: Why not spend it?

January 20, 2011 at 10:00 pm in Grand Forks Herald

Thank Uncle Sam for your small pay raise. Included in the tax package that President Barack Obama signed in late December was a one-year, 2 percentage point reduction of the Social Security tax paid by employees. Through 2011, the tax will drop from 6.2 percent to 4.2 percent. If you’re your own boss, your tax will drop from 12.4 percent to 10.4 percent. Continue Reading