2% More Social Security Tax!

[catfish123]

For those of you who don't know, in spite of the "settlement" that was reached to prevent us from going over the "cliff", SS payroll taxes are going up 2% up to about the first $113000 of earnings which I don't have to worry about............:surprised..........For me, this increase results in a substantial monthly loss of income................:soap box.............just thought I'd ruin everyone else's day unless you already knew about it.

 

[h2oskiier30]

Just look at it this way...We have to sacrifice, so those on the government teat don't have to.

Makes you feel much better, doesn't it? :soap box

 

[Dave Hensley]

Bad thing is we have bred a generation that is under educated but wise in the ways of sucking off the working stiff. Less and less are earning so those that are must pay more. Sad isn't it? Makes for very cheap votes to buy. I think Thomas Jefferson said something like " when the populace can vote themselves favors from the treasury we are in deep doo-doo".

 

[Darth VMAX]

Got my Leave and Earnings statement today and my check was $30 less What gripes me is the pay period ended on 29 December, I would have thought that my first 2013 check would have had the extra taken out...

 

[GotMyAlly]

There's 109 million people working in the private sector.

There's 66 million on food stamps and medicaid. Over 100 million on welfare. Plus another 21 million on the government payroll.

No matter how much you tax 109 million people, they can't support those numbers.....

 

[fnshrmaster]

There's 109 million people working in the private sector.

There's 66 million on food stamps and medicaid. Over 100 million on welfare. Plus another 21 million on the government payroll.

No matter how much you tax 109 million people, they can't support those numbers.....

True very true. My wife runs a at home child care. At times we have over half of the parents care paid for by the state of Michigan. They are on state assistance, get free food and get this, they all have nice vehicles. Trailblazers,mini vans,you name it,I have seen it all.

They have no incentive to get out of that way of life, it is made to be as comfortable as possible. I don't know how we can ever turn this mess around.

Kurt

 

[xb03fs]

SS tax never should have been messed with. It should not be used in the general fund or for disability or for anything other than SS benifits for those of us who pay into it.

Personally I would like to get that. 6.2 percent to put in my 401k however dare I say privatize it. But I am young enough I may never get it so might as well get to do with it as I please.

 

[alc]

A lot of folks would like to have a 401!

 

[xb03fs]

Open a IRA pretax same as 401 minus e any match still get tax deducyion since utis taxed when withdrawn or a Roth IRA post tax contributions. Then you are only missing out on any match a employer may be offering

 

[JOEALLY]

Theft!!!! Plain & simple legalized theft!!

 

[resqu-u]

Yep and next they'll pass the great gun laws of 2013. We'll all be safe then, it just warms my heart how the gov is trying so hard to take care of us these days. We can only hope Hillary survives long enough to take over his legacy. :banghead I just don't get it and never will...

 

[GotMyAlly]

They have no incentive to get out of that way of life, it is made to be as comfortable as possible. I don't know how we can ever turn this mess around.

Kurt

You said it. Poverty should be uncomfortable for those who choose not to work. Otherwise, they have no incentive to do so.

Pay people to sit on their azz and they'll do exactly that!

 

[GotMyAlly]

Personally I would like to get that. 6.2 percent to put in my 401k however dare I say privatize it. But I am young enough I may never get it so might as well get to do with it as I please.

I'd opt out of SS today and let 'em keep every dime I've paid in so far if I could. Let me take that 6.2% and invest it as I see fit. I guarantee I'd have more at retirement time than SS will pay, and if not, I'd only have me to blame.

I argued that with a liberal the other day. His response was that if you put the responsibility to save for retirement on the individual, many people would just piss away that money. THerein lies the problem with the liberal mentality. If somebody chooses not to save for retirement, that's their decision. Let those who make good decisions reap the rewards, and those who are foolish pay their own debts.

 

[hullbilly]

The Tax Relief Act of 2010, which lowered the SS payroll tax, was never intended to be a permanent decrease. It was instituted in the height of the recession as a measure to put more money in the pockets of working folks. Pretty sure it was originally for 2011 only, then was extended for 2012. The longer we extend all this BS, the larger the deficit gets, and the further away we get from getting our fiscal house in order. The Bush tax cuts are a prime example, which contribute around $100 Billion in deficit spending per year.

I just don't understand when a "conservative" viewpoint is to knowingly and willingly continue to skyrocket the already ridiculous debt. At least Obama has the balls to begin to get off the teat. Something the previous Republican regime never did, all the while, watching the debt rocket out of control. Heck,,,the obvious best approach for the deficit was to go off the "cliff". Obama had it on the table......let the bush tax cuts expire, make significant cuts to medicare and the defense budget. Actually the way this all played out,,,starting with Obama completely outsmarting the gop with the sequestration deal during the debt ceiling debacle....was nothing short of brilliant politics.

I'll take my two years of ss payroll tax relief and call it good. I hope it helped a lot of folks that were in a bind, cause I have been fortunate enough to not need it and it certainly hasn't chagned my financial situation. My goal is to pay more and more in taxes.......cause that means I'm getting one step closer to the 39% bracket! Then once I get there, my actual rate will be 0-4% like most of the 39%ers.....

Welfare doesn't appear to be the problem to me.....looks like we should go after pensions and defense.

Tight Lines & Efficient Prop Slip to you fellas!

 

[fnshrmaster]

Speaking strictly on reducing the deficit, it would be foolish, neigh, a crime to make our cuts in defense and pensions. First, our defense budget is in place to keep us ALL protected in this great country. In case you didn't know, there are multiple people and groups out there that wish us gone; vaporized off the face of the earth. Combining this with the already bone deep cuts to this part of the budget (ask anyone in the military, these cuts are already happening and are powerful), removing further funding could impact the safety of all United States citizens. Personally, I like being protected, and only a fool would wish cuts to this. If a government isn't there to protect its citizens, what purpose does it serve?

On the topic of pensions, a more moral decision arises. As pensions are something every working man and woman pays into, a cut to these is basically a retroactive sequestering of their income; robbery in short. Last time I checked, thievery in the USA is crime, and just because the government is doing it doesn't mean it's not. These people have payed into this program, the government has no right to steal from them just to cover their butt.

Even if these two sectors aren't touched (which they have been, military funding is unfortunately dropping drastically year to year), this still leaves 54% of the budget pie to cut. Welfare might be the smallest slice, but it is a slice nonetheless. A discontinuation of the blatant handouts to lazy ne'er-do-wells raised on the governments teats is a start. Now, lets take a look at the remaining 44%. While we could get into a pissing match focused just on health, let's just suffice to say that no matter who you are, most agree that it can be done more efficiently, and thus, cost-effectively. This still leaves another 20% in the remainder. Other than payment to government workers, which doesn't comprise this entire sector, there are definitely cuts to be made here. If you haven't heard of a government program that just made you scratch your head, then you must not get out enough. Programs such as these could easily be cut as well. If you wish for me to pull up a list of ridiculous programs, I will happily (actually unhappily due to the stupidity of our budget) do it.

There are cuts to be made, but only a fool or criminal would want further cuts in defense/pensions.

 

[GotMyAlly]

We should go after all of it. Nothing should be off the table.
What makes up that 20% "Remainder"?

Social Security should have never been started in the first place. It's not the government's role to provide retirement planning services. That's what your local financial planner is for. Or your 401k or IRA. Any fool can see that once you let the government get their greedy hands in something like that, it becomes a cluster. Same goes for healthcare. Government doesn't exist to provide for you cradle to grave. Assume some personal responsibility. No amount of legislation can replace that.

I'm all for tax cuts, for those that actually pay taxes. Those who pay nothing need to get some skin in the game. Those that don't pay taxes are usually the biggest consumers of government services anyway.

Defense should be just that. Defending our country. Not overthrowing a dictator to force our idea of government on another country because we don't like how they treat their people, etc. Stay out of it until another country presents a clear and present danger to the US, the hit them fast and hard with the big guns, no boots on the ground required. Saves money, time, and doesn't put our boys at risk.

 

[Darth VMAX]

Cutting the defense budget would be like forcing baseball players to give up their bats and be forced to hit the ball with their bare hands...

BTW, many of those "bats" are 45-55 years old and are starting to splinter and crack...and why? Because of the years and years of cuts already to the Military.

Very MORONIC thought process..... but hey, its easy to make those suggestions from your nice comfortable Lazy-Boy recliner

 

[GotMyAlly]

On the topic of pensions, a more moral decision arises. As pensions are something every working man and woman pays into, a cut to these is basically a retroactive sequestering of their income; robbery in short. Last time I checked, thievery in the USA is crime, and just because the government is doing it doesn't mean it's not. These people have payed into this program, the government has no right to steal from them just to cover their butt.

I agree with you on government pensions. Those are commitments made by the government. They should stand behind those promises. I do think something needs to be done when the public sector unions start demanding too much. Government jobs shouldn't have any better retirement plans private sector jobs, just no reason for the taxpayers to foot the bill for that kind of benefit. But on private sector pensions, I believe the government has no obligation there. If a company makes promises to its employees that it cannot keep, the taxpayers shouldn't be left holding the bag.

 

[fnshrmaster]

I agree with you on government pensions. Those are commitments made by the government. They should stand behind those promises. I do think something needs to be done when the public sector unions start demanding too much. Government jobs shouldn't have any better retirement plans private sector jobs, just no reason for the taxpayers to foot the bill for that kind of benefit. But on private sector pensions, I believe the government has no obligation there. If a company makes promises to its employees that it cannot keep, the taxpayers shouldn't be left holding the bag.

I agree with you regarding the public sector pensions. I am a public employee myself. I contribute to a 401 / 457. We do not have a pension available to us, they have become a thing of the past. Not enough people to fund the kitty.

If I save I will have a retirement, if not i will be S.O.L. That is the way it should be. It would be nice to add my S.S to my 401. I fear it won't be there when I get ready to retire. Kurt

 

[bec]

Just got my payroll check today.dang government don't waste your time collecting extra taxes on the middle class now.thank you for your promises your really going to pull this country out of a recession quick.don't worry about asking the lazy butts that don't want to work to pay for any taxes bless there hearts they deserve everything they receive from us.will just sit over here tight lipped and just keep our mouths shut we don't want to stir the pot.Government decisions make me sick to my stomach.think I might just quit work draw unemployment and everything the government can give me and just start living.