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Administration. now, individual income taxes as a percentage gdp have dropped from 9.7% in 2001 to 6.2% in 2010. folks, thats a 36% drop. numbers havent been that low since world war ii. now, to be fair, many of those numbers really are low due to the economy and the recovery and the record job losses that weve seen in this country but president obama has also made a habit out of cutting taxes, just what they wanted all along. the president passed a making work pay tax cut. he extended the bush ...

Genocide in tripoli. >> or resolution? >> the libyan people have broken the fear. we will not back down. >> why this could be even more significant for the u.s. and for you for what happened in egypt. this, the special live edition of "piers morgan tonight." good evening. we start with breaking news tonight from new zealand where the city has been hit by a 6.2 magnitude earthquake with multiple fatalities. but first the latest from libya. its difficult to be honest to know what happened there ...

The fear. we will not back down. >> why this could be even more significant for the u.s. and for you for what happened in egypt. this, the special live edition of "piers morgan tonight." good evening. we start with breaking news tonight from new zealand where the city has been hit by a 6.2 magnitude earthquake with multiple fatalities. but first the latest from libya. its difficult to be honest to know what happened there tonight. the mobile phones and the internets have been shut down or slow...

Latest updates on this topic.

Administration. now, individual income taxes as a percentage gdp have dropped from 9.7% in 2001 to 6.2% in 2010. folks, thats a 36% drop. numbers havent been that low since world war ii. now, to be fair, many of those numbers really are low due to the economy and the recovery and the record job losses that weve seen in this country but president obama has also made a habit out of cutting taxes, just what they wanted all along. the president passed a making work pay tax cut. he extended the bush ...

Way out of your net worth and this deal the tax deal is going back into the right direction. this is a good deal for all americans. >> here is why it is a good deal. what it means to your paycheck. first, workers pay 6.2 percent of the first $106,000 wages in social security and now it is 4.2 percent and a little more money in every single persons paycheck. >> the easy math if you make $1,000 a paycheck you used to pay $62 withheld and now only $42 are withheld. and it could take a couple of wee...

Thing we know for sure, our income tax rates wont be going up. some people will pay less because our payroll tax will be going down, the part you pay for social security from 6.2% to 4.2% of your paycheck. break down how much money people can expect to get from this payroll tax holiday. >> some people will be using that smartly to pay down their debt and high interest credit card bills. if you make $40,000, you will have $800 more in your pocket at the end of the year. some people are making the...

Up. some people will pay less because our payroll tax will be going down, the part you pay for social security from 6.2% to 4.2% of your paycheck. break down how much money people can expect to get from this payroll tax holiday. >> some people will be using that smartly to pay down their debt and high interest credit card. if you make $40,000, you will have $800 more a year. some people are making their new years resolutions to figure out how to put that money to good use. $80,000, $1,600 is wha...

And approved by a voice vote. >> ayes do have it and the bill is passed. >> the original price tag was exocked down from 7 million to 6.2 for 10 years and 2.four five for billion. for health care and other comization. republicans got concessions on cost and restriction of fraud and abuse. >> we owe it to the american people to be accountable. >> oklahoma senator coburn spear headed the delay. congress needs to help but cant afford to waste a cent. >> my heart is right and for them and what is co...

It would have probably had a great impact on the market and might have made a difference for them if they made it back then, but you think there are going to be some surprises that come out of all this. >> there are. i give you two items that havent really received that much attention: number one, everybody is going to get a social security cut. tax cut. that will be for one year only. the year 2011. it goes from 6.2% of your paycheck to 4.2% of your paycheck. the surprise is its for everybody, ...