The program was financed by a payroll tax of 2.9% on all wage earners, half paid by employee, half by employer.

FORBES: Why Your Children Won't Have Medicare

Census Bureau stats show that the percentage of pay collected by the middle 60% of wage earners dipped to 46% in 2005 from 52% in both 1965 and 1975.

FORBES: The Average American: 1967 And Today

Not included in the agreement is an extension of the payroll cut meaning that payroll taxes will rise by for 2 percent for all American wage earners.

FORBES: Here's The Deal On The Fiscal Cliff Deal