Payroll tax decrease

Effective January 1, 2011 the withholding for social security from employees checks decreased from 6.2% to 4.2%.  The employers portion of the social security tax stays the same at 6.2%.  If you get paid $1,000 per week your take home pay increases by $20.  Remember the Making Work Pay Credit of $400 if you are single and $800 if married?  That goes away in 2011 and is replaced by the 2% decrease in social security taxes.  No word yet on what this change will do to your social security retirement pay.