Skip to comments.Millions noticing paychecks lighter today, due to payroll tax hike
Posted on 01/11/2013 6:21:03 PM PST by RoosterRedux
Gabriella Hoffmans paycheck is a little lighter today, thanks to a payroll tax increase that is forcing millions of Americans to make the kind of tough budget cuts their representatives in Washington lawmakers seem unwilling to tackle.
Hoffman, a 21-year-old Virginian who works at a nonprofit, estimates her paycheck will be roughly $30 less this biweekly pay period, or about $780 annually, thanks to the end of a two-year cut on payroll taxes, which fund Social Security. The tax has risen back up to 6.2 percent from 4.2 percent, costing someone making $50,000 annually about $1,000 per year and a household with two high-paid workers up to $4,500.
As a newly-graduated person, someone coming straight out of college, I dont like the idea of having less money coming to me due to the selfish interests of people in Congress who dont have any interest in reducing our financial problems, Hoffman told FoxNews.com. This is an impediment for future economic growth. Its going to make it harder for young people like myself to get married, find a better job, you name it.
Hoffman admits the hike wont completely alter her spending, but the University of California-San Diego graduate said she will definitely have it in mind when it comes to leisure activities and entertainment.
Although its a small quantity on a monthly basis, just having less money going into my paycheck will prevent me from doing things and force me to be more frugal, she said. Ill be more cautious with my spending.
(Excerpt) Read more at foxnews.com ...
I don’t want to hear the sob stories. The $30 is the least of our worries with the dictator.
It was the most INSANE tax cut ever anyway.
Why would anyone de-fund a program that is already going broke?
Now they know why they should have paid attention when Ubama said he would have more flexibility after the election instead of worrying about the Kardashians.
Nevermind the fact that it also cut the amount you contributed which is a benchmark as to how much one would get once going on SS. Stupid fools screwed themselves on both ends.
Wait’ll the rest of it hits you, baby!
That’s more than a case beer. Lots of Obama voters will be furious!
True and yet two years ago there was oh so much clamor of “I need my $40 so i don’t have to eat cat food! Thank you Sultan Obama!”
I do the company payroll. My check was $8+ short. On one of the young workers, I made a note that his eight hours were $1.70 less than his eight hours last year. That is not much; but, week after week it does add up.
I try to post semi political notes in the paycheck envelopes.
Ganriella, forget your college degree.
Your real education just began.
I guess that $40 is no longer needed? What a bunch of Horsesheet!
“It was the most INSANE tax cut ever anyway.”
Exactly! It was initiated so that the 50% who pay no federal income tax (those who really DO NOT pay their fair share) could see a tax cut. Can’t cut income taxes to them so they cut something else that will appear like they get a tax cut.
The joke's on you "low
information life" voters! You didn't realize the Kenyan sees YOU as "the rich"!
It’s $25.00 per week and you’re right confiscating our guns is No. 1 on the things this jackoff is doing to us. A revolution is brewing. This coming from a quiet one who getting ready to stand.
A real speaker of the house, err, party leader, would have been in front of a microphone letting the nation know that their paychecks today, courtesy of 0bama, are lighter. Unbelievable...that’s the Stupid Party for you.
No waviness, no marketing ability, no leadership.
I would have posted hahahaha but instead I’ll just say haha. Just wait until the 15th when the bimontly payees get their checks. Even funnier will be the automatic deposit payees. Imagine calling to confirm your deposit only to find out the bank fairy shorted you!