As General Motors reports earnings of nearly $7 billion in North American for 2012, the company has announced that it will be dishing out profit sharing checks to 49,000 of its full-time hourly workers to the tune of $6,750 each( before taxes). Sadly (for Michigan-based workers), the U.S., Michigan and FICA/Medicare taxes are said to claim about 35 percent of that.
The bonuses are to be distributed by March 1, and are $250 less than what workers saw last year, as GM’s profits in North America slipped 3 percent (before taxes) compared to last year.
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35% lost to taxes and 3% goes towards the UAW …