So what does the payroll tax mean for you ?  Well for one thing it means a bigger paycheck on payroll, money that you can actually see when you open look on your stub. It came about in December 2010, when President Barack Obama worked along side his Republican colleagues to implement it to the dismay of some Democrats about payroll.  The tax cut reduced its tax and the Social Security withholding tax from 6.2% down to 4.2%.  This money is withheld from your pay check to pay for the Social Security programs.  If you would like to find out...