Ouch!!! The tax increase sucks

[Jeff7]

This thread....
I was wondering if and when people would wake up.
I guess most people have to see it on Paper in black & white?
Funny isn't it how all the media were telling us how wonderful it would be if we diverted that cliff.
But again people are missing the bottom line. The POINT to note here.
And that is... The middle class growth once again not only remains stagnant, the middle class actually once again lost ground.
That line on the chart remains flatline level for 2013. Well, actually took yet another dip.
I'm beginning to realize why gun owners so strongly believe they need their assault weapons. At some point you just have to say enough!

Meanwhile, you see news stories about quite a few companies generating record profits. Profit sharing for the employees? Definitely - assuming that you're already swimming in money. Otherwise, you're a financial drain because you're not working for third-world wages, and you want expensive and petty things like a safe work environment, a retirement plan, and to be treated like a little more than an expense that wants to be given more money each year.

Obviously "the vote" only amuses those in power.
And not to rain on the parade, but this does not even reflect insurance providers massive increases coming to a town near you.
So remind me... Where do I go to sign up for Obamacare again?
Welcome to the stagnant class... (Formerly known as middle)

Ten thousand ants line up outside your house to protest that you're denying access to the food in your refrigerator.
So, listen to their grievances? Or buy some Raid Ant&Roach Killer and solve the problem?

 

[Balt]

Canceled my cable a few months ago in anticipation of this. ~$80/mo gained, ~$80/mo lost.

 

[OCGuy]

Do single employed people older than 20 really even notice this amount of money missing? I can understand if you are just getting back on your feet or have kids/wife/etc and you are struggling to make it.

Or is this just a bitch fest? Personally I don't mind the SS tax going back up, because it is the one part of your pay-check that someone half-assing it at Walmart and living with their parents aren't getting back at the end of the year, while the adults pay federal income tax.

I would prefer we didnt have to pay so much into SS at all: End the SSDI scam. Give some more money to the truly disabled people, and cut off all the able-bodied scam artists waiting for that deposit to hit every month to support thier god knows what habit.

I was signing a lease with a tenant and her daughter, who did not seem impaired at all. They needed her SSDI income to qualify for the lease. The daughter had just walked up the stairs, in a conversation on a new-looking iPhone, which seemed completely intelligible.

She showed me her SSDI awards letter, and as she was about to initial/sign the lease agreement, she asked if we report tenants to the government, because she was afraid she woud lose her benefits if they found out she was able to come to my office and be competent enough to understand/sign a detailed contract.

Damn moochers.....

 

[Balt]

Do single employed people older than 20 really even notice this amount of money missing?

Um, yes. I know everyone thinks the single renters of this world have it easy, but we miss out on a lot of deductions that people with children and houses get. Not to mention the fact that a lot of families have two working parents these days who are splitting the cost of the mortgage, and a monthly mortgage payment is less than a monthly rental payment in many markets.

That being said, continuing to pay the 2% of the SS payroll tax out of the general budget was not feasible. It was never really feasible to even have the holiday.

But do I notice that there's less money in my paycheck? Of course I do.

 

[Jeff7]

Um, yes. I know everyone thinks the single renters of this world have it easy, but we miss out on a lot of deductions that people with children and houses get. Not to mention the fact that a lot of families have two working parents these days who are splitting the cost of the mortgage, and a monthly mortgage payment is less than a monthly rental payment in many markets.

That being said, continuing to pay the 2% of the SS payroll tax out of the general budget was not feasible. It was never really feasible to even have the holiday.

But do I notice that there's less money in my paycheck? Of course I do.

Even so, I can't imagine that the money gained in tax deductions can exceed the costs incurred by things like mortgage payments, or raising kids. Kind of like that statement about the wealthy complaining about their high taxes - yet none of them quit their high-paying jobs so they can get a part-time minimum wage job, and enjoy the low-to-no tax rates way own there.

So no, I don't have any kind of deductions on a mortgage, as I rent a relatively inexpensive apartment. I don't have deductions for dependents - and I also don't have any people living here who aren't bringing in their own income, who are also consuming numerous resources on a daily basis.

It's nice though to be able to spend when the whim takes you though. (Within reason, of course. The little "Stay thrifty!" voice must always be permitted to supervise.)



However, I'm sure I too will notice a change; seeing numbers that are different from other numbers is a fairly easy thing to do.

And look at the positive side of this. The temporary tax break likely accomplished its primary goal: Giving Congress more fuel to fire their engine that allows them to get absolutely nothing of value accomplished, year after year. Anything else was a side effect.

 

[isekii]

got a small raise 3k, increased my 401k contribution by extra $40 bucks per week and i went down $30 bucks from my weekly pay

 

[Balt]

Even so, I can't imagine that the money gained in tax deductions can exceed the costs incurred by things like mortgage payments, or raising kids. Kind of like that statement about the wealthy complaining about their high taxes - yet none of them quit their high-paying jobs so they can get a part-time minimum wage job, and enjoy the low-to-no tax rates way own there.

So no, I don't have any kind of deductions on a mortgage, as I rent a relatively inexpensive apartment. I don't have deductions for dependents - and I also don't have any people living here who aren't bringing in their own income, who are also consuming numerous resources on a daily basis.

It's nice though to be able to spend when the whim takes you though. (Within reason, of course. The little "Stay thrifty!" voice must always be permitted to supervise.)



However, I'm sure I too will notice a change; seeing numbers that are different from other numbers is a fairly easy thing to do.

And look at the positive side of this. The temporary tax break likely accomplished its primary goal: Giving Congress more fuel to fire their engine that allows them to get absolutely nothing of value accomplished, year after year. Anything else was a side effect.

I'm not unaware that children are very expensive, but having them is also a voluntary choice that a person makes. Not sure why they should get a tax deduction for it.

 

[Engineer]

I'm not unaware that children are very expensive, but having them is also a voluntary choice that a person makes. Not sure why they should get a tax deduction for it.

Why should you get a tax deduction for your house? It's a voluntary choice to get the house on mortgage. For that matter, why even get a deduction for yourself? Why a standard deduction? Why should you get to write off stock losses or charitable deductions? These choices were voluntary. Same could be said for tens of thousands of pages of tax code....WHY!?!?

 

[OutHouse]

Why should you get a tax deduction for your house? It's a voluntary choice to get the house on mortgage. For that matter, why even get a deduction for yourself? Why a standard deduction? Why should you get to write off stock losses or charitable deductions? These choices were voluntary. Same could be said for tens of thousands of pages of tax code....WHY!?!?

its time for a flat tax across the board. no deductions, now loopholes nada. pay your 13% and deal with it.

 

[dmcowen674]

got a small raise 3k

You call 3K a small raise? Mother fucking 1% ers.

Try 30 cents

That's normal for where I work.

 

[Zstream]

You call 3K a small raise? Mother fucking 1% ers.

Try 30 cents

That's normal for where I work.

Get off your ass and get a different job you dumbass.

 

[Engineer]

its time for a flat tax across the board. no deductions, now loopholes nada. pay your 13% and deal with it.

You're willing for your taxes to go up so those at the top can come down? 13% ....LOL.

 

[RedArmy]

I had an extra whopping $20 taken out of my bi-weekly paycheck.

 

[sze5003]

You call 3K a small raise? Mother fucking 1% ers.

Try 30 cents

That's normal for where I work.

My raise was 1800 and bonus was 1900 after taxes came out. Last time I checked I wasn't making over 250-400k or anywhere near that to qualify as 1%.

Looks like it's time to look elsewhere for work. Managers where I work get way more than 3k raises and higher salaries but they aren't the 1% either.

 

[alkemyst]

Do single employed people older than 20 really even notice this amount of money missing? I can understand if you are just getting back on your feet or have kids/wife/etc and you are struggling to make it.

like I said earlier, approaching $100 is a lot of money. Sadly, I doubt my contribution to SS will equal my use of it.

That's the other factor to those that are high-earners.

 

[Balt]

its time for a flat tax across the board. no deductions, now loopholes nada. pay your 13% and deal with it.

It should definitely be simplified, but I don't think it will happen in any meaningful way. Despite politicians claiming they want it simplified, I think there's a lot of pressure from big money to keep things the way they are. Think of all the money that is made by people with expertise in using the advantages in the current tax code. Lots of lawyers, lots of tax preparers, lots of accountants, etc.

 

[alkemyst]

go to a sales tax model.

 

[hans007]

like I said earlier, approaching $100 is a lot of money. Sadly, I doubt my contribution to SS will equal my use of it.

That's the other factor to those that are high-earners.

I'm losing about $170 a month. Though it was a temporary decrease. Of well was good beer money .

I make enough that its not a big deal but its still noticeable . If you are fully in the social security taxed range of ~100k you tend to notice it.

 

[alkemyst]

I'm losing about $170 a month. Though it was a temporary decrease. Of well was good beer money .

I make enough that its not a big deal but its still noticeable . If you are fully in the social security taxed range of ~100k you tend to notice it.

QFT

 

[SSSnail]

If your paycheck is shrunk, come in here so we can form a circle hug.

So I'm about $250 less a paycheck, FTMFL! Yes yes, that's peanuts compare to the other ATOT millionaires, but this hurts my ability for hookers and blow.


From here through post #199 have been merged from another thread.
admin allisolm

 

[SunnyD]

repost.

 

[Engineer]

How often are you paid?

 

[bigrash]

Same here. Really sucks!

 

[Aharami]

about $150 here. and wife lost her job so this is hitting twice as hard...

 

[KeithTalent]

repost.

This.

KT