Skip to comments.What Does $40 per Week Mean To You?
Posted on 12/25/2011 7:47:12 PM PST by NaturalBornConservative
- Let's see, to me one thing it means is that the federal government will be adding another $120 billion to the national debt. For my friend Jeff, at Liberty Works, it means we've been bamboozled again. -
By: BoomerJeff | Liberty Works
"... On Thursday Obama ramped up the theatrics and gave us a preview of his New Year strategy for diverting attention away from his manifest failures. He stepped to the microphones to prove he identifies with the struggles of the helpless against those cruel Republican Scrooges (transcript). His tone dripping with pious solicitude, he began:
Weve been doing everything we can to make sure that 160 million working Americans arent hit with a Holiday tax increase on January First If youre a family making about $50,000 a year this is a tax cut that amounts to about a thousand dollars a year. Thats about forty bucks out of every paycheck.
So far the Presidents math is correct, since most employees are paid either bi-weekly or semi-monthly.
It may be that there are some folks in the House who refuse to vote for this compromise because they dont think forty bucks is a lot of money. But anyone who knows what its like to stretch a budget knows that at the end of the week or the end of the month forty dollars can make all the difference in the world
So on Tuesday we asked folks to tell us what it would be like to lose forty bucks every week.
Wait a minute! Every week? He just changed it from $40 out of every paycheck to $40 every week! But the temporary tax cut is worth only $19 every week to his hypothetical $50,000 per year family.
Youd have to earn $104,000 a year for Obamas Social Security tax markdown to be worth $40 every week.
Obama then quoted some of the emails from his folks about how they would deal with the loss of $40 per week.
Joseph from New Jersey would have to sacrifice the occasional pizza night with his daughters. My 16 year old twins will be out of the house soon Ill miss this.
Richard from Rhode Island wrote to tell us that having an extra $40 in his check buys enough heating oil to keep his family warm for three nights. In his words, and Im quoting, If someone doesnt think that 12 gallons of heating oil is important invite them to spend three nights in an unheated home.
Pete from Wisconsin told us about driving more than 200 miles each week to keep his father in law company in a nursing home. $40 out of his paycheck would mean that he could only make three trips instead of four.
Dinner out for child whos home for Christmas, a pair of shoes these are the things that are at stake for millions of Americans. They matter a lot.
Obviously these emails are absurd. If you earn $104,000 and have to give up $40 per week, are you really going to have to deny your kids a pizza or a pair of shoes? Will you shiver for three nights without heating oil?
Of course, there are some folks to whom $40 every week would be make a real difference:
A hotel maid who works full time for $8.50 per hour
A construction worker who has been cut back to half time work at $17 per hour
A self employed business owner whose customers were hammered by the recession and now barely survives by depleting his savings. He generated only $17,700 profit this year after paying his employees and the employers half of the payroll tax which was not reduced by the Obama payroll tax markdown.
To each of these people Obamas temporary payroll tax cut is worth not $40 but $6.80 per week.
But much of the media have already begun to help Obama plant a false perception in the minds of uninformed voters that Republicans would deny everyone $40 per week. (For example, see the headline here.)
Obama knows that informed voters will figure out the deception. But he doesnt care about informed voters. They wont vote for him anyway."
Related: Endless Stimulus | Payroll Tax Cut
It means I’m going to pay more taxes.
Monthly payment on my 2012 Benz.
I’m in the 19 buck bracket, and it’s beer money to me.
A better question is “what could I do with the money the Obama’s spent on their Christmas vacation?”
Live for the rest of my life. Very well, while raising a family of responsible, patriotic citizens. And likely leaving them virtually the entire amount as an inheritance.
Not to worry your social security check will be reduced by $80 a month due to the fact you are paying less into your FICA.
Beer now... dog food later... works for me
All true. This “Payroll Tax holiday” crap is just that: Crap. But, since they’re nice enough to let me keep the money for now, I’ll just sock more into the ole 401K.
For obama, one more trip to petsmart, thats right its just money to let the dog chew up.
I guess Social Security really is a burden on the working man.
“Ill just sock more into the ole 401K.”
good for you, your smarter than most I fear...
This deficit in the revenue from FICA collections has to be made up somewhere. And it will come out of the general tax revenue collection funds, make no mistake about it. Willingly or otherwise, American citizens have agreed to being more heavily taxed than ever they have been in the past, and it will NOT be limited to only “the rich”. The most pernicious tax of all is the general inflation all of us will soon feel, as the purchasing power of the few remaining dollars we have left is steadily reduced, sometimes in large increments, as the low-interest availabilty of ready cash spreads further and further in our economy. Or even cash grants, essentially a subsidy for the falling value of the dollar, further exacerbating the already declining value of whatever medium of exchange that is accepted by the denizens of the now failing state.
When a loaf of bread hits $150, and artificially subsidized goods become ever more scarce, the full impact of this Soviet-style command economy will begin to affect even the most fervent socialists. As a similar situation came to affect the citizens of the former Soviet Union, they turned to an underground economy, in which exchanges of labor for goods and services became the medium of exchange. Primitive, but this in turn forces some serious decisions on the governing class - do they prosecute the black market, or do they reform the economic system?
$40 a week means more votes for the Food Stamp President.
Thanks! I usually get smarty answers when I say that, like “Hah! Now that the market’s down, you 401k is screwed!”
In fact, it’s stronger than ever right now. When a coworker says something like that to me, I advise them to check their own 401k, and most are surprised. The news media has been telling them for years their 401k accounts were wiped out by Bush cronies, and they’re too afraid to even look at their accounts.
$40 is four days of food for me. My nutritional consumption, such as it is, would have to be reduced by more than half. I would go postal.
Can’t even buy a muffler for $40! Someone ping little Tommy Daschle.
Prosecuting the black market is often next to impossible if you don’t know the method of how the market works. You have to figure that one out first. At some point reforms are going to have to be made and painful decisions made and personal accountability taken on the shoulders of someone respected enough to be listened to. Then of course, the population needs to stop this self destructive spiral and change a lot of a attitudes and long held viewpoints.
Everybody is missing the true motivation behind this push for the reduction. Since 47% of people no longer pay income tax, the next best way to remove them further from the tax rolls and ensure a permanent Democrat ruling class is to move towards a means tested Social Security contribution and eventually a similarly twisted Medicare Tax. At some point you’ll hear that the “rich” should be covering the share of these deductions for the currently untaxed. Not only will the 53% be paying for the percentage of Americans that are permanently attached to the National Nipple, but they’ll also be covering all of the benefit costs of the rest of the untaxed.
it was a lexus muffler if I remember right.. And you can.
I guess Social Security really is a burden on the working man.
Especially if they die before retirement, your survivor gets a whopping $255 for the thousands you put in. Unless you have minor, dependent children
and it will NOT be limited to only the rich
If you’re among the %53 paying taxes, you are rich by liberal standards. All real taxpayers will pay more, and not just at the fed level