Nice work notice I got today…

“On Jan. 1, Congress passed the American Taxpayer Relief Act of 2012 that addressed a number of tax and budget issues related to what has been commonly known as the “fiscal cliff.” One issue not addressed in the act is the payroll tax relief that has been in effect for the past few years. This means that, as of Jan. 1, all working Americans who contribute to the Social Security system will see their payroll tax on the first $113,700 of wages increase from the current 4.2 percent to 6.2 percent. This change will reduce your net pay.

All employees will see this change on their next paycheck.”

I could have sworn that somebody mentioned something about middle class taxes not increasing….just cant remember who that was.

Just wait…This is just the tip of the iceberg for what we can expect the next 4 years.

It isn’t a tax increase per say. They had done a temporary payroll tax rollback of 2% a few years ago. So you will be paying no more now then you did a couple of years ago.

It isn’t an increase… it is a reduction that has expired.

And you’ll get it all back through retirement, plus interest – so it is a great investment as well.

It absolutely is an increase. My current rate of 4.2 is turning into 6.2%, my MN math tells me that’s an increase.

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It isn’t an increase… it is a reduction that has expired.

And you’ll get it all back through retirement, plus interest – so it is a great investment as well.

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Lol @ retirement. That will never happen…

Read the replies again.

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Read the replies again.

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Unnecessary, I dont care how you want to twist it, it’s an increase…period!

Nope not an increase. your holiday is over. Your take home may have decreased but your contribution to social security is appreciated.

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It isn’t an increase… it is a reduction that has expired.

And you’ll get it all back through retirement, plus interest – so it is a great investment as well.

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Social Security will be bankrupt by the time I’m old enough to retire

Yes this is a total increase!

HOWS THAT HOPE, AND CHANGE WORKING FOR EVERYONE!!LOL

I see you working but congress sets the taxes. I agree we could use some change there.

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Nope not an increase. your holiday is over. Your take home may have decreased but your contribution to social security is appreciated.

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Is that what you would say to an 18-20 yr old who just entered the work field??? Your vacation is over?

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Nope not an increase. your holiday is over. Your take home may have decreased but your contribution to social security is appreciated.

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Is that what you would say to an 18-20 yr old who just entered the work field??? Your vacation is over?

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Yes???????? Would that be the wrong answer? I know personally once I entered the workforce my life changed.

We were also told back in the 70’s that Social Security would be bankrupt before we had a chance to use it. It’s still here.

So, to clarify…you would tell someone who started working under the 4.2% that this is not an increase??? Really??? Are you just arguing to argue or do you actually believe that?

No worries

There’s a provision in ObamaCare to provide you with free Vaseline for life

—>

“ObamaCare” another hope and change failure!

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So, to clarify…you would tell someone who started working under the 4.2% that this is not an increase??? Really??? Are you just arguing to argue or do you actually believe that?

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I’m not the one arguing. You posted the thread. I answered telling you what really happened. You didn’t like the answer, I can’t help that.

I will help you sleep better though. In your lifetime of working the rate will increase. Your options to that are……….

1) Quit your job. Work for cash only.

2) Starve to death.

The only guarantee’s in life are death and taxes. I really can’t explain it any simpler then that. Sorry if I can’t understand where you are going with this.

Ohhhh, there’s other options

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Just wait…This is just the tip of the iceberg for what we can expect the next 4 years.

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doesn’t that “next 4 years” thing get old ???? Surprised you survived the last 4….

With a debt of $16 trillion heading to $20+trillion… honestly our economy is done. Little changes in take home pay or increasing taxes will not make a dent to the hole we are already in.

Mathematically its just a matter of time (3-5 years?) and our GDP will not be able to pay even the interest on the unbelievable debt we have accumulated. Therefore, the principal amount of debt just spirals upward until our economy finally crashes once and for all.

We have had too high a debt for years, the difference is that people just can’t mentally grasp how proportionately higher its gotten in just the last 5 years. It is economically impossible to tax enough to pay off the debt… there is really no way to stop this.

Me… I just want to have a boat that is paid off and fish a lot as the economy crashes – at least I’ll be able to feed my family. That’s my personal financial plan

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With a debt of $16 trillion heading to $20+trillion… honestly our economy is done. It is economically impossible to tax enough to pay off the debt… there is really no way to stop this.

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You are 100% correct. You cannot tax your way out of this mess. The answer is spending cuts. But, as long as people are in our elected officals pockets there will never be enough spending cuts.

As much as this hurts me to say this…….Jesse may have been right. We need term limits to keep these guys & gals from funding their lifestyles on the backs of the taxpayers.

This can put a little perspective on the topic:

http://www.youtube.com/watch?v=WFP-2_iDYMU

Send a little shiver up your spine – eh?

-J.

And the world was suppose to end not all that long ago…. for the second or third time in recent years. We’re all just along for the ride anyways…. make the most of it. In a couple years, we just tell China we are sorry, and wipe the slate clean.

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doesn’t that “next 4 years” thing get old ????

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Not until we get this spending problem under control.

Like frydog said. Soon will will hit gdp on the interests alone. You could tax every single person in the country 100% of everthing they make in a year and it still will not reduce the debt. We are screwed if we don’t cut spending!

-J.

Me… I just want to have a boat that is paid off and fish a lot as the economy crashes – at least I’ll be able to feed my family. That’s my personal financial plan

Steve Buscemi comes to mind in the movie Armageddon – sitting on the nuke and proclaims he has a front row seat for the end of the world

For the original post, regardless of the terminology, its just the beginning. My accountant already advised me to pull an additional 6.5% of my gross receipts into my tax relief effort. With business being as bad as it is, someone must think that I just get to add another 8% onto my cost of doing business. Lets see how the homeowners of the next house I bid out responds to that

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No worries
There’s a provision in ObamaCare to provide you with free Vaseline for life
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And you can use the free Obama phone to call to get re-stocked when you run out.

They’ll never cut anything if it means discomfort or sickness/death to any person or family. Compassion is one thing but to let this country fall apart to placate every persons whim is another. Whatever happened to the greater good?

he should have told you to start hoarding precious metals also… silver is gaining popularity