With the expiration of the payroll tax cuts, the majority of workers will be facing smaller amounts of take home pay starting this month. Nearly three-quarters of American households will have smaller paychecks this year because in the fiscal cliff legislation Congress chose not to extend the 2 percentage-point payroll tax holiday that has been in effect for two years. That means someone who earns $50,000 will take home about $1,000 less. “

January 7, 2013 12:00 am