brucekrasting.com / By Bruce Krasting / January 3, 2013
Social Security (SS) is out with preliminary numbers for January’s payroll tax revenue:
This is, of course, a preliminary number, and there will be revisions. The January data is based on a set of assumptions that SS uses to run its computers. Actual data will take at least three months. I find it interesting that SS is assuming that the US economy starts off the year in low gear.
-The January 2013 YoY increase in payroll tax revenue is projected to be $1.1B (+2.2%).
-The January 2012 Yoy increase in payroll tax revenue was $3.2B (+6.5%).