Obama: No Payroll Relief Extension Will Raise Taxes By $1,000

During a speech in Scranton, Pennsylvania Wednesday, President Barack Obama said that if Congress does not extend payroll taxes, taxes for middle class American families will rise by $1,000. (0:12)

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Unpaid payroll taxes $10 billion worse, says Sen. Levin

Senator Carl Levin (D-Mich.) says that the willful failure to remit payroll taxes is a felony and a disgrace, at a hearing on payroll tax abuse before the Permanent Subcommittee on Investigations of the Committee on Homeland Security and Governmental Affairs. Levin notes that in 1998, unpaid payroll taxes came up to $49 billion but now it has significantly increased to $58 billion. (0:37)
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