Anyone else see themselves take a sizable pay impact this month?

[brianmanahan]

Yep, going backwards yet more.

It's all good though, another step closer to Revolution.

wait, i thought you wanted higher taxes?

 

[kage69]

Yep, took a hit. House Republicans esteem for the middle class strikes again.

And surprise surprise, the usual crowd is hellbent on pining GOP fail on Obama, regardless of how stupid it makes them look.

 

[Engineer]

Yep, took a hit. House Republicans esteem for the middle class strikes again.

And surprise surprise, the usual crowd is hellbent on pining GOP fail on Obama, regardless of how stupid it makes them look.

Neither side, short of a few, were willing to extend this.

 

[Lithium381]

Mine is up 106/month, just as a direct comparison from December of last year to January of this year. Most of it was an increase in Social Security, and about $13 was federal tax witholdings . .

 

[Lithium381]

After reading through the thread . . does anyone know the historical reason for caping SS earnings at ~$113k? I mean if Obama wanted more revenue from the rich, why not remove the cap but keep the rate at 4% for everyone? Don't you think that would have generated more net revenue yet kept the campaign promise of not hurting the middle class?

 

[1prophet]

No matter the facts, perception of reality is sometimes greater than the realty itself,

That is why many people on the street are calling this an Obama tax, when they looked at their smaller paychecks.

 

[fskimospy]

After reading through the thread . . does anyone know the historical reason for caping SS earnings at ~$113k? I mean if Obama wanted more revenue from the rich, why not remove the cap but keep the rate at 4% for everyone? Don't you think that would have generated more net revenue yet kept the campaign promise of not hurting the middle class?

Two big reasons:

First, the money from payroll taxes goes directly to social security, not the general fund. We don't really need a lot more SS revenue.

Second, we need more revenue from the baseline. Remember, for the last 4 years or so Obama has actually cut your payroll taxes. It was never intended to be permanent. While I agree in uncapping SS contributions, the result of your plan would still have just been a big overall tax cut.

 

[TerryMathews]

That is the lapse of the payroll tax exemption, and you can thank the House Republicans for that, not the President. Nice try blaming him, though.

Oh really? The Senate passed a SS payroll tax cut? Link please, I hadn't seen that.

 

[FerrelGeek]

Yep, took a hit. House Republicans esteem for the middle class strikes again.

And surprise surprise, the usual crowd is hellbent on pining GOP fail on Obama, regardless of how stupid it makes them look.

Fail. Please take a time out and cure your ignorance before you hurt yourself of someone else.

Neither side, short of a few, were willing to extend this.

This

Oh really? The Senate passed a SS payroll tax cut? Link please, I hadn't seen that.

And this. Obama or the Senate dems never demanded that the cut be continued, so yeah lets go blame the HoR reps.

 

[fskimospy]

Oh really? The Senate passed a SS payroll tax cut? Link please, I hadn't seen that.

It was part of Obama's stated negotiating position that was dropped as they went on. It was never part of the Republicans' position.

If you want to argue that Obama including it was part of a stealth way to get rid of it later...well...ok. There's no way anyone can prove or disprove that.

From a rational examination of each side's position as stated however it is clear that the Republicans didn't want it. Why is admitting this such a problem?

 

[TerryMathews]

It was part of Obama's stated negotiating position that was dropped as they went on. It was never part of the Republicans' position.

If you want to argue that Obama including it was part of a stealth way to get rid of it later...well...ok. There's no way anyone can prove or disprove that.

From a rational examination of each side's position as stated however it is clear that the Republicans didn't want it. Why is admitting this such a problem?

Obama is the leader of the Democratic party, correct?

Just be honest, for once. Neither party really wanted that tax cut, which affects all the proles.

That's real bipartisanship. They finally agreed on something.

 

[FerrelGeek]

Obama is the leader of the Democratic party, correct?

Just be honest, for once. Neither party really wanted that tax cut, which affects all the proles.

That's real bipartisanship. They finally agreed on something.

It's the nature of politicians to not accept responsibility. Obama and the dems are no exceptions to this.

 

[fskimospy]

Obama is the leader of the Democratic party, correct?

Just be honest, for once. Neither party really wanted that tax cut, which affects all the proles.

That's real bipartisanship. They finally agreed on something.

Just so I'm clear, your argument is that if something is in your initial bargaining position and you later give it up to reach a compromise that it means you never wanted it to begin with and that it is the same as never wanting it in the first place?

That is baffling. Once again, some things are just objective reality.

 

[bozack]

It was part of Obama's stated negotiating position that was dropped as they went on. It was never part of the Republicans' position.

If you want to argue that Obama including it was part of a stealth way to get rid of it later...well...ok. There's no way anyone can prove or disprove that.

From a rational examination of each side's position as stated however it is clear that the Republicans didn't want it. Why is admitting this such a problem?

I am fairly confident that if it was included in a bill that also extended the benefits to all it would have been approved.

Remember the two sides were at considerable odds, and continue to be....

Obama wanted to make an example of the top percentile so that taxes eventually can be raised on the middle class, even if gradually it will have a larger effect with regards to revenue generation....he was only keeping the SS rate in there if he got his way and those making 200 ind or 250 household and above got hit....otherwise everyone has to feel the pain....

The repubs on the other hand as we all know wanted to extend the current rates for all and if they didn't get that, then they were going to do as little as possible for everyone else.

Regardless, paying more in taxes by the middle class in a down economy is something the electorate seemingly wanted, so that is what we get.

My big beef is with all this to do around the "middle class"....the fact of the matter is the middle class is, and will continue to be the most exploited demographic there is, the bs about how "important" the group is only extends for how much tax revenue can be generated to pay for further expanding government, social programs, and the liberal "base"

Rant off

 

[werepossum]

I do say "thanks Obama". It was nice bringing home more money, but the Social Security trust fund has already been spent, by both parties, and to keep the program solvent even a few more years requires we go back to our original schedule. The cut might have helped, but it needed to go away.

 

[TerryMathews]

Just so I'm clear, your argument is that if something is in your initial bargaining position and you later give it up to reach a compromise that it means you never wanted it to begin with and that it is the same as never wanting it in the first place?

That is baffling. Once again, some things are just objective reality.

My argument is that Mr. Obama, as the head of the Democratic party, could have insisted on the SS tax cut if he was really interested in keeping it.

He could have instructed his lackeys in Congress and the Senate to draft a budget according to his wishes and then put it up for a vote.

Stop covering, it makes you look like a partisan hack. Neither side cared about the middle. I can freely admit my side didn't give a damn. What does that say about you? I think we all know the answer.

 

[berzerker60]

Are you insane? He couldn't just have whatever he wanted, it was a long, drawn-out process where it wasn't clear they could cut any kind of deal until the very last minute. He gave up some things in the negotiation, additional stimulus in ways such as the payroll tax holiday extension being one of them. The Republicans gave up things too, such as the reversion to Clinton-era rates for those above $400k. Does that mean the Republicans didn't really want permanent tax cuts for the wealthy, because they gave them up to make a deal?

 

[fskimospy]

My argument is that Mr. Obama, as the head of the Democratic party, could have insisted on the SS tax cut if he was really interested in keeping it.

He could have instructed his lackeys in Congress and the Senate to draft a budget according to his wishes and then put it up for a vote.

Stop covering, it makes you look like a partisan hack. Neither side cared about the middle. I can freely admit my side didn't give a damn. What does that say about you? I think we all know the answer.

It just tells me that you're once again attempting to employ a false equivalency. If you're in a negotiation and then attempt to implement the thing you just agreed not to implement, you are negotiating in bad faith. I do not view Obama not choosing to negotiate in bad faith over this to be evidence that his inclusion of a payroll tax cut in his initial offer was part of a convoluted ruse to introduce something he didn't want.

Not choosing to indulge evidence free flights of fancy is exactly that and nothing more. People accuse others of partisanship when they don't have a good argument of their own.

 

[Zargon]

tomorrow is my monthly paycheck

Im sure it will be noticable

 

[Londo_Jowo]

He couldn't just have whatever he wanted, it was a long, drawn-out process where it wasn't clear they could cut any kind of deal until the very last minute.

I saw political posturing on both sides, so Obama or anyone else in the negotiations could have pushed to have this tax break remain in place. Yet no one ever mentioned extending the tax break.

I knew they would come to an agreement that magically saved our rears whilst kicking the can down the road.

 

[fskimospy]

I saw political posturing on both sides, so Obama or anyone else in the negotiations could have pushed to have this tax break remain in place. Yet no one ever mentioned extending the tax break.

I knew they would come to an agreement that magically saved our rears whilst kicking the can down the road.

This is not correct. Extending this tax break was in Obama's initial offer.

 

[Londo_Jowo]

This is not correct. Extending this tax break was in Obama's initial offer.

Your friends at Huffington Post seem to think administration wasn't intent getting the SS tax cut extended.

http://www.huffingtonpost.com/2012/11/26/payroll-tax-cut-obama-administration_n_2194356.html

Obama Administration Not Sticking Up For Payroll Tax Cut

 

[Thegonagle]

Yep, the republicans didn't extend the payroll tax break. Everyone who doesn't watch Fox nooze exclusively knows this.

 

[fskimospy]

Your friends at Huffington Post seem to think administration wasn't intent getting the SS tax cut extended.

http://www.huffingtonpost.com/2012/11/26/payroll-tax-cut-obama-administration_n_2194356.html

I'm not sure how linking an article about how they aren't supportive enough helps your statement that they didn't mention it.

 

[spacejamz]

I wonder how many people out there who don't follow a single shred of news will be shocked by their first paycheck of the year in the next day or so...