Smaller Paychecks Coming -- Bosses Say, Don't Blame Us

Mike Brey
Mike Brey

By Jose Pagliery

Everyone's paycheck is about to take a hit, and it's not the boss's fault. But some business owners say it's a tough talk to have.

The rate of workers' payroll taxes, which fund Social Security, has been 4.2 percent for the past two years. As of Jan. 1, it's back to 6.2 percent, on the first $113,700 in wages.