Millions of Americans are in for a shock when they open their pay envelopes this month. Despite the well-publicized tax relief voted by Congress, take-home pay will be reduced in many instances. The total federal tax bite will indeed be less than last year, but the rates of tax withholding have been changed, with the result that people in the upper-middle and higher brackets will be hard-hit. For example, the amount withheld from the wages of a married worker with two children who earns $250 a week will remain virtually unchanged at $30.50. But for an employee earning $400 a...
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