KOLNKGIN - Nebraska Central News - Headlines

Lower Gas Prices vs. Higher Payroll Tax

Updated: Mon 9:42 PM, Jan 14, 2013

While gas prices seem to be going down other things like more taxes and higher food prices at the grocery store will be affecting your wallet.

Many people in Grand Island say they are happy about lower gas prices.

"It's definitely a plus it would be a lot better if they were a little bit lower though," said Semi-Truck Driver Sam Houchin.

A lot of people are not happy about paying more taxes. The payroll tax now up 2-percentage points to its 2010 level of 6.2-percent.

"It goes into the Social Security fund and so when that paycheck clears it goes into the social security fund for tax payers," said Stacey Stocker with H&R Block.

If you make $50,000 a year you'll be paying an additional $1,000 in taxes in 2013, but many still say it's an unwelcomed surprise.

"It's stuff that keeps going up and we're not making any more money just hurts us in the long run you know," said Houchin.

Others say they've got to work harder to make ends meet.

"You know you've got a family to raise and now you gotta run twice as many miles to make any money. To be able to take care of your family," said Semi Truck Driver John Heffner.

Couple that with higher food prices due in part to the drought, and Heffner says it all equates to less money in your pocket.


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