Wow, not one thread on the 47% increase in Payroll Social Security Tax
 

Must either be some serious baller business owners on here lately, or it's all EU and Canadia people these days on GFY.

USA got Obama'd LOL.


:Oh crap:Oh crap

If you want entitlements, you have to pay for it.

:2 cents:

This has nothing to do with entitlements. I don't want or need them.

These idiots have spent themselves unsupervised into a corner for the last 20 years.

My generation will never even see Social Security benefits. I don't rely on our government for entitlements, thankfully.

They continue to spend unnecessarily. Misappropriations of funds is rampant, and none of it is changing.

Those are facts. This government is out of control. They managed the business of government so badly that the chickens are coming home to roost.

This is the middle classe's death blow.

:2 cents:

Not an increase. They did not renew the stimulus package and SS rate went back up to normal rate

It's simply a temporary cut two years ago expiring.

Right. Maybe I should have been more clear. The point was, just when the middle class can't take any more beating, they kick them again when their down. Not sure where all of you live, but in California there are lots of folks barely making ends meet. This is going to really hammer them. It is an increase that the layman did not expect and from the looks of the social networks today, folks did not expect it to happen.

Just saying.

Oh it was hard to tell.

On a household making $50k a year it's about a $500 difference. One less iPad and they're good to go. If someone is making $50k and having a hard time making ends meet well ... they have bigger problems.

Thank you.

USA got baby boomer'd. Someone has to foot the bill of their retirement costs, and this is only the tip of the iceberg. Right now they are just hitting retirement age and still fairly healthy. Just wait 15 years when they are elderly and the medical costs come into play.

What about the businesses that have to match the tax for each and every employee.

.

:2 cents:

that rate was never lowered :pimp

Yeah like a Trillion $s spent on recent wars had no effect.

:1orglaugh

This how u fix SS
1. First you factor in that we live longer---Change the way the benifits are factored for those younger than 55.
2. Dont let Congress Borrow from the fund and not pay interest. There is 2.6 Trillion dollars in what they call Green Bonds issued by congress I think which pay no interest
3. Extend the age you can sign up for SS from 67.5 years old to 70

You can sign up for SS at age 62. You don't get as much money but if you have not paid in a lot in the last few years, you might as well!

:2 cents:

I'm eligible when I hit 62. And having paid around 15% of my earnings for decades that's MY money and not some government entitlement.

.

I'm 40 and I seriously question if SS is even going to be around when it comes time for me to get it. I'm guessing it won't so I'm not going to count on it.

It goes from 4.2% back to 6.2%, if that puts you on the streets you were likely headed there anyway.

Now I do agree our government, tax code, and the bozos sent fix it are all clearly broken.

I don't mean to sound like a conspiracy nut, but I honestly think America is under attack financially and this is being done on purpose.

If you live to 62 I'll pay it to you myself :1orglaugh:1orglaugh

.

thats exactly right. This is because wall street bankers own the heart of the US economy, namely the banking system. When they had a heart attack in 08 from their binge gambling, they put a gun to DC & said bail us out, or the economy simply stops functioning.

They know full well, down the line, once the government is leveraged to the hilt, they will basically own all the productivity of the US economy. The grotesque military & entitlement spending will have to finally get cut so the bankers get their money back, lest they stop the economy once again. no more medicare & SS for the people.

in the meantime the grotesque spending serves the special interests on wall street, k street, military contractors & the healthcare cartel. None of these industries wants their cash cow killed while the natl debt is under 200% of US GDP. & neither do their slaves in DC, who happily take their lobby money to keep that spending as high as possible.

By the time the bubble bursts, boomers will be dead, the rich & the corporations will move on to prey on another nation, & generation X Y & Z will be holding the bag.

good times. :thumbsup

entitlements people pay into and the government borrows?

how do u figure?

Let me get this straight.

Dems give people a break for 2 years, helping people out.

Now that it's about to expire, people are mad at the Dems for "beating down" the people...

Whose entitled now?

50k a year in LA is not very much

Its a Tax increase pure and simple!

A Family living on 50K in cali is pretty much poverty.

:thumbsup:thumbsup:thumbsup:thumbsup:thumbsup

Facts matter

Odd that neither the Republicans nor the Democrats even made mention of this during the farce leading up to the financial cliff. No Buffet rule, no elimination of carried interest, no serious effort to make the tax code applicable in the same way to all Americans. It almost makes one start to think they might both be serving the same masters...

Score:
Citizens United 1
United States 0

I find it hard to argue against this. I've often felt that the massive (unprosecuted) fraud that caused the financial crisis was one.

But try stealing something cheap from a convenience store ?..


.

So if soup goes on sale for a week at 50% off and then goes back to its regular price, you call that a price increase?

Thank you:2 cents:

Not sure if I should :1orglaugh at that or not. But if I go before 62 you can rest assured knowing that I went out beat up, bruised, and well used. :upsidedow

well said:thumbsup

:1orglaugh For you I couldn't resist.

if you work a physical job for most 70 is hard. How about raising the cap? It hasnt been raised in 3 yrs.

I just laugh at the bottom cheering the tax increases on their betters.
They're too dumb to realize that the bell tolls for them too.

Here's an idea, how about you stupid assholes putting some money aside for when you reach 70?

The enthusiasm you Obamatrons have for giving the federal government more of your hard earned money is very curious.

This effects only the "betters" ?

In most major cities 50k before taxes doesn't make life easy for a person unless they are very frugal. For a family of 3 or more, it makes it hard to get by.

There's a two-tier "justice" system in this country.

Let me get this straight the Bush tax cuts were a tax increase when the expired but the Obama payroll tax is not a tax increase when it expired.
What kind of screwy thinking is this?

No. That's the beauty of it. Watching the rabble cheer for their own demise knowing they don't know it.

the employer doesnt pay shit on their employees behalf FICA is factored into employees wage/salary. basically all working slaves pay 15% flat tax to the govt on first $113,700

What I really love is the so called tax breaks. It's a temp tax break that we'll pay for later on.