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
$40 - buy more ammo.
It means a Lower Social Security payment since my Contribution will be down now for 2 years
Are you saying that if you had the mythical $40 less than you do right now you would not be able to afford food? I don’t believe it. Obesity is one of the biggest health issues of poor folks in th US. On the other hand, if you make $100K and would miss $40 per week that much it is your own fault for spending the rest of it foolishly.
Since Nov 22, 2011
If you make $635 every two weeks in take home, then take your gross pay, multiply it by 2%, then divide that by two and that's how much you'll be getting per week (for two months anyways). You're looking at more like $6.35 to $7.00 per week, not $40. It's 2% of gross pay, not a flat $40 per week for everyone, that's the whole point.
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