Govt taking more of my check in 2013. DId your taxes go up, too? Are you Rich?

reply to post by Crakeur


Different tax brackets for different people is NOT fair.

Everyone paying the same percentage is fair. With NO loopholes or deductions for ANYTHING!

Only other fair way is no income taxes at all, just sales tax....rich buy more they pay more.

Combine Obama's across the board tax increase on Social Security and doubling of gas prices since he took office. Thing are looking bleak for the economy.

But don't fear, the fed is pumping 85 BILLION a MONTH into the stock market to show an illusion of a recovering economy.

Originally posted by tovenar
After promising that he was only going to raise taxes "on the richest Americans," the President raised the social security tax by 2%. Thanks, Pharaoh Obama.

I make about 50K per year. Starting January 1, there's another $30 PER WEEK missing from my check.

We used to take the kids out to dinner once a week, because I have to work late one evening a week. We've already cut all other eating out and grocery expenses. So, we'll have to pack sack lunches for school for the kids, PLUS a sack-supper one night a week, since there's no money to get fast food...

Am I the only one who noticed this????

I'm getting tired of people calling this a tax increase. It was in actuality the end of a two year decrease in Employee Contributions as part of the OBAMA stimulus package. He tried to get it extended and failed due to republican obstructionism and it expired on 12/31/12. Before 1/1/10, when the cut came into effect the rate was 6.2% and matched (and never cut) 6.2% by the Employer.

www.paywizard.org...

I wish people wouldn't make pronouncements on issues they don't know any thing about.

Please stop lying about what happened - I know you want OBAMA to be the Bad Guy - but in this case it just isn't true.

50k a year and your on budget? I wonder what kind of fancy house your paying off.

reply to post by Infi8nity


Is that sarcastic or do you think 50,000 is a lot of money?

Originally posted by 2XOHsurf
Yeah, get used to being deceived and lied to by POTUS. Lot's of people saw through him years ago, many are just now 'getting' it. He's a liar to the core and couldn't lead his way out of a wet sack. Have to admit, it was 'transparent' to many and in that he told the truth.

My wife was just laid off. She worked 23 years for one of the top AE firms in the US, mostly doing facility design for state and fed. There NEVER WERE any shovel ready jobs and she is one of the last remaining senior people. Laid off after 23 years. Doesn't bode well for the poor as the 'trickle down' is being shut off.

Get used to it.

Trickle down has never 'trickled' to any body except the weathly. From about.com which is about as daring in opinion as a slug ---

useconomy.about.com...

Trickle-Down Hasn't Actually Trickled Down:

If trickle-down economics worked, then lower tax rates during the Reagan Revolution should have increased the lowest income levels. In fact, the exact opposite has occurred. Income inequality has worsened. Between 1979 and 2005, after-tax household income rose 6% for the bottom fifth of income earners. That sounds great, until you see what happened for the top fifth -- an 80% increase in income. The top 1% saw their income triple. Instead trickling down, it appears that prosperity trickled up! (Source: Steven Greenhouse, The Big Squeeze, pp.6-9)

from the New York Times"

www.nytimes.com...

And from the conservative American Thinker

www.americanthinker.com...

Stop being a tool (as the kid's say these days)and doDo at least a little homework before you parrott talking points from your favorite spouter of hatred and lies (sometimes they do get things right).

Stop the blame game, the dems didn't want to extend it either.....they are borrowing the money to cover it because they won't cut spending. AARP and other huge lobbies didnt want it extended.

House Democratic leader Nancy Pelosi of California said she, too, wants to let the tax cut expire.

m.nbcnews.com...

Obama, however, didn't include the tax cut in his 2013 budget proposal, and Treasury Secretary Timothy Geithner told Congress this year that he saw no reason to extend it again.

And there you go.

Under the law, Congress is reimbursing Social Security for the lost revenue, estimated at $103 billion in 2011 and $112 billion in 2012. But Congress didn't cut spending or raise other taxes to offset the lost revenue, so the payroll tax cut is being financed with borrowed money, adding to the national debt.

They are backed by powerful advocates for seniors, including AARP, who adamantly oppose any extension.

To those of you spouting off about the GOP voting for the expiration of the SS holiday. Where do you get your information?

It was the Senate's fiscal cliff bill that was voted in and last I checked the dems are the majority?

People will believe anything.

And no spending cuts were added....just brilliant.

House approves Senate's fiscal cliff deal

There was discussion about amending the Senate bill by adding spending cuts, but in the end, House lawmakers voted on the bill as written -- a so-called up or down vote.

www.cnn.com...

Originally posted by timetothink
reply to post by Infi8nity

 

Is that sarcastic or do you think 50,000 is a lot of money?

That is a lot of money, in my opinion. I'd be ecstatic making 25k a year. I only have a high school diploma, and it's quite difficult to find an entry level job that you will make even 15k a year. In fact, it's hard to find an entry level job thats not part-time. I'm not about to go to college either, because I'm not going to pay 15k+ a year just to go to college, so when I get out I can make 10$ an hour, and be 60k in debt. At least not until the economy picks up. Anyways, I couldn't afford a car, gas, or car insurance to have reliable transportation to college.

I'm a pretty simple person, if I tripled my earned income to (about) 50k, I wouldn't even know what to spend it on.

This is just the beginning get ready for Obamacare next year.

reply to post by jtma508


You are so right ... just like those Bush Tax cut which were to expire too .... I see it all as BS! The tax burden has been shifted to the people when it was meant to be on the corporations and business. If you look at the temporary tax deductions which have become more or less permanent...

usatoday30.usatoday.com...

The majority of expiring tax cuts are combined every year into a multibillion dollar "extenders" package that creates a lobbying frenzy among businesses and industries that rely on the tax breaks. The package can include major provisions, such as a first-year depreciation bonus on plants and equipment, to obscure ones that affect only NASCAR or bow-and-arrow manufacturers.

reply to post by tovenar


You're not alone. I take care of the house-hold bills and paycheck/s here and noticed a difference of (almost exactly) 100. less in my OH's paycheck. He gets pd. every two weeks, so two pays a month=200.+ twice a yr. he gets 3 pays a month equals another 200. a yr. All together that amounts to 2600. a yr. (More than the tax break which was about 50-60$ each pay) when it was implemented.

He hasn't complained and he usually doesn't, but he doesn't do the bills either so.. he wouldn't notice as much. What I see is a couple bill pymts gone and another notch to tighten in the belt. Thing is.. every time we seem to be getting a little ahead of the game, something drags us right back to the level we thought we had dug out from. Like the carrot stick was just in reach and now I just noticed the carrot was all an illusion.

I realize the Gov't need their raises and that their credit cards have to be paid, but so do our bills need paid. When do the average workers get to vote on their raise or pay.

We spend our money wisely & live within our means, the Gov't does not.

We just paid our car off and now we need a new transmission. I can't even complain anymore though.. this will be my last rant on the subject. I'm tired.

Originally posted by schuyler
The fact is that the social security tax is supposed to pay for social security (I know it's a shell game) and the social security system will eventually go broke. So what do they do? LOWER the social secirity tax as a "stimulus" and make it go broke sooner???? I say that's completely stupid. I paid 7.5% of my wages into social security my entire working life with no breaks and no "stimulus reductions." You get the break, pay less for a few months, and when it goes back up you bitch? I have no sympathy for you. Zero.

Why do you think they have been short changing and reformulating the CPI Schuyler? Because of the COLA attached to government benefits ..... Think about the food stamp program asset cap of $2000 established in 1984 has never been adjusted for inflation ... the cap would be about $5500 if tied to the CPI .... and even more if you use the old formula used by John Williams at www.shadowstats.com

his primer on the CPI is eye opening ....

www.shadowstats.com...

You know, I’m just going to say it because it needs to be said…

Obama? GFY!!!!

Originally posted by timetothink
reply to post by Infi8nity

 

Is that sarcastic or do you think 50,000 is a lot of money?

20k more then the average.

reply to post by schuyler

So what do they do? LOWER the social secirity tax as a "stimulus"

That is a good question. I wonder if it is not tied to a failed attempt to stimulate aggregate demand within the economy. ... In plain language the FED and Helicopter Ben believes that if people feel like they have more money because they got a raise due to inflation that the people would go out and buy to stimulate the economy.

Most people don't realize this is why the FED is creating inflation. Or better put ... deflating the dollars value ....

Bernanke said in his paper about the Japanese stagflation of the 90s that Japan should have printed money until they debased their currency ......

here is a good look at what Bernanke is doing to the US economy ....

www.princeton.edu...

This will make the average person puke!

How to Get Out of a Liquidity Trap
Contrary to the claims of at least some Japanese central bankers,
monetary policy is far from impotent today in Japan. In this section I
will discuss some options that the monetary authorities have to
stimulate the economy.4 Overall, my claim has two parts: First, that—-
despite the apparent liquidity trap—-monetary policymakers retain the
power to increase nominal aggregate demand and the price level.
Second, that increased nominal spending and rising prices will lead to
increases in real economic activity.

and this "pie in the sky" thinking

Money, unlike other forms of government debt, pays zero
interest and has infinite maturity. The monetary authorities can issue
as much money as they like. Hence, if the price level were truly
independent of money issuance, then the monetary authorities could use
the money they create to acquire indefinite quantities of goods and
assets.

zero interest ??? huh??? I guess the FED doesn't charge interest now!

This is why I advise everyone who want to know and understand what the FED is doing because Bernanke lays out his plan here in this paper .....

reply to post by tovenar


My GF got raked over the coals on her tax return too.

You can thank bhoner and the republican blue bloods for your tax raise.

You can thank the republican loyalist for raising you taxes every year for the last 40 years.

Or you can continue to wallow in ignorance while the repub Whig party undoes everything the US has ever stood for.

How bad does it have to get before you people wake up to the fact that the repub blue blood traitors have sold us out to the bankers.

I don't understand.

Obama allowed tax breaks that lower income workers enjoyed to expire. These tax breaks were implemented under Bush.

I thought the democrats and Obama were for the little guy?

For those that want to blame congress, Obama could have just done an executive order that he is so fond of to protect the little guy and bypass that republican congress. Hell, Obama, who is in charge of the executive branch, who is in charge of the department of treasury, who is in charge of the IRS, could just choose not to enforce tax collection like they choose not to enforce illegal immigration. If the little guy was so important, there are lots of actions Obama can take.

reply to post by Exxon


That's the whole point, making more money is an incentive to better yourself and move up in the world.

Everyone shouldn't make the same amout of money, you get paid what you are worth.

Geez.