Skip to comments.Higher Payroll Tax Pinches Those With Least to Spare
Posted on 02/07/2013 12:38:14 PM PST by jimbo123
Jack Andrews and his wife no longer enjoy what they call date night, their once-a-month outing to the movies and a steak dinner at Logans Roadhouse in Augusta, Ga. In Harlem, Eddie Phillipss life insurance payment will have to wait a few more weeks. And Jessica Price is buying cheaper food near her home in Orlando, Fla., even though she worries it may not be as healthy.
You got to stretch what you got, said Mr. Phillips, 51, a front-desk clerk and maintenance man for a nonprofit housing group who earned $22,000 last year. That little $20 or $30 affects you, especially if youre just making enough money to stay above water.
I dont see any reason to consider supporting its extension, said Timothy F. Geithner, the Treasury secretary, in testimony last year. Even Nancy Pelosi, a reliable liberal who leads the Democratic minority in the House of Representatives, was for letting it expire.
(Excerpt) Read more at nytimes.com ...
Of course, they are “investing” in America’s infrastructure
"Elections have consequences."
This is a dishonest article. They are not “payroll taxes” they are contributions to Social Security. Social security has been threatened with bankruptcy and will be insolvent in a few years.
The NYT people are hypocrites.
Don’t they know they are just helping all those gazillion 99+ week people and those on SSI? Certainly wouldn’t want to cut their freebies. Better to decrease the income of working people.
They got what they voted for, and they aint seen nothing yet.
“This is a dishonest article. They are not payroll taxes they are contributions to Social Security. Social security has been threatened with bankruptcy and will be insolvent in a few years.
The NYT people are hypocrites.”
Yes, I believe that the so-called tax cuts that employees have experience over the last couple years should never have been given in the first place. To underfund the Social Security program even more than it already is was almost criminal. I thought at the time that it was a deliberate attempt to hasten the crash of the SS program.
I may be getting to be uncaring, but I find it hard to feel sorry for the Obama voters that thought only the “evil rich” were going to see tax increases, and not they, themselves.
Do Freepers think the payroll tax cut should have been extended? I don’t. Most Americans, including the poor, voted for big government, and I want them to pay for it.
They should have read the fine print, tax cuts to expire after the elections....Now with gas on the rise again, currently more than $4 in Southern CA, people’s budgets are going to be squeezed even more.
If they voted for 0bama I am glad that they got what they asked for.
They will shop around for hard luck cases to make their point.
The only person I know that has complained about this, is having true difficulty. But she spends $500 per month on pets.
She can get a $6,000 after tax “raise” annual anytime she wants.
This is a tax “cut” that should have never been enacted in the first place.
I didn’t vote for it and I don’t want to pay for it.
Hey, America wants an overly-generous “social insurance” system? America has to pay for it. Of course, what America really wants is a middle class Welfare system paid for by “the rich” which they pretend is a social insurance system to make themselves feel better. The higher payroll taxes are just a very small preview of what is going to happen over the next several decades as we can no longer borrow or tax the “rich” to pay for ever expanding social welfare benefits. The tax bite will finally hit the middle class, only at that point, there will be no way to turn back.
Only if there was a plan to phase out and eliminate SS. Since that's not the case, it was incredibly irresponsible, even for OUR government to underfund the Ponzi scheme, increasing the acceleration to insolvency. Actually, I believe that it's been insolvent for at least a year, paying out more than it takes in.
Obama voters = idiots = suckers.
Is not its insolvency caused by the 50,000,000 aborted Americans that would at this point be paying INTO Social Security? Choices have consequences.
Oh come on! The government needs that money to feed the poor folks!
My reduction this year with the combined taxes and our increased health insurance contribution is a net loss of $40 per month, after a raise. In july the health care cost will increase and I will be down $120 a month. That is $1440 a year that I am losing that to our government.
The payroll tax, ie, contributions to social security, was the STUPIDEST tax to cut,
so of course, that’s the one he had cut.
SS is already going bankrupt, and it’s “as if” he intentionally accelerated it with his “tax cut”.