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Old 01-15-2013, 10:32 AM   #256
joedplumber
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Originally Posted by mks18412 View Post
This may of been a tax holiday but it is what it is, more money in peoples pay checks. I am sure some people had to live off this "tax holiday" money just to make ends meet. With insurance being crazy high this doesnt help anything.... In a lot of families $30 can make or break a budget. But again its not just the $30 from the "tax holiday" its a rise in insurance and a rise in gas and rise food prices and so on...
Yet Disney crowds are probably at an all time high!
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Old 01-15-2013, 10:35 AM   #257
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Originally Posted by Muushka View Post
You can give it any name you like. The fact is that paychecks will be less.

The question is, how will people with less disposable income
and subsequently cutting down on purchases affect the economy and jobs?

Will this help or hurt the economy?

Will it help or hurt the job situation?

PS I don't understand the bolded part?
Well, the purpose of the Payroll Tax Holiday is that it would supposedly help the economy by taking less money out of paychecks and giving more people more money to spend .... on things.

In practice however the largest effect was that people used the money to improve their own balance sheets. A combined 64% of it went toward paying down debt and into savings accounts.

http://www.wesh.com/news/money/How-w...g/-/index.html

loosely - what people did with the money according to the article

Pay Down Debt 40%
Increased Saving 24%
Increased Spending 36%

We could have long and drawn out discussions over the long-term effects of people paying off loans and saving money vs spending on the economy. I really don't see the stoppage of the tax holiday as having all that much of an economic difference in the short-term though.
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Old 01-15-2013, 10:36 AM   #258
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Quote:
Originally Posted by Muushka View Post
You can give it any name you like. The fact is that paychecks will be less.

The question is, how will people with less disposable income
and subsequently cutting down on purchases affect the economy and jobs?

Will this help or hurt the economy?

Will it help or hurt the job situation?

PS I don't understand the bolded part?
Exactly! Everyones pay will decrease! And of course its not going to help the economy what so ever. No business will want to hire and if they do it will be 28 hrs or less bc no company wants to pay the the fee tax whatever for anyone.... They could of cut spending else where.
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Old 01-15-2013, 10:37 AM   #259
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Yet Disney crowds are probably at an all time high!
Maybe for those that live on credit cards and have no care if they get paid!
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Old 01-15-2013, 10:39 AM   #260
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Quote:
Originally Posted by Muushka

You can give it any name you like. The fact is that paychecks will be less.

The question is, how will people with less disposable income
and subsequently cutting down on purchases affect the economy and jobs?

Will this help or hurt the economy?

Will it help or hurt the job situation?

PS I don't understand the bolded part?
Let me ask, did the extra 2% stimulate the economy? Seems to he most people either saved it or depending on how close to the edge you are used the increase to survive
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Old 01-15-2013, 10:41 AM   #261
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Originally Posted by mks18412 View Post
Exactly! Everyones pay will decrease! And of course its not going to help the economy what so ever. No business will want to hire and if they do it will be 28 hrs or less bc no company wants to pay the the fee tax whatever for anyone.... They could of cut spending else where.
The SS tax holiday had 0 effect on employer taxes it only effected the employee.
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Old 01-15-2013, 10:42 AM   #262
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The SS tax holiday had 0 effect on employer taxes it only effected the employee.
I should of made myself more clear. That last comment is in regards to insurance.
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Old 01-15-2013, 10:43 AM   #263
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Maybe for those that live on credit cards and have no care if they get paid!
LOL!

Or perhaps a larger percentage of visitors these days are from foreign countries.
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Old 01-15-2013, 10:46 AM   #264
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Originally Posted by mks18412 View Post
Exactly! Everyones pay will decrease! And of course its not going to help the economy what so ever. No business will want to hire and if they do it will be 28 hrs or less bc no company wants to pay the the fee tax whatever for anyone.... They could of cut spending else where.
Everyone's paycheck will decrease as compared to what? I am sure there are a percentage of folks out there that get year end raises greater than 2%. For those folks there paychecks will rise when compared to the prior year.

The increase is smaller than it would have been but non the less there disposable income has increased.
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Old 01-15-2013, 10:47 AM   #265
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I should of made myself more clear. That last comment is in regards to insurance.
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Old 01-15-2013, 11:24 AM   #266
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Yet Disney crowds are probably at an all time high!
You do realize that not every visitor is an American, don't you?
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Old 01-15-2013, 11:30 AM   #267
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You do realize that not every visitor is an American, don't you?
You do realize I already addressed this about 4 posts up? lol
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Old 01-15-2013, 11:43 AM   #268
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I don't know what the difference is between not doing anything because there is nothing to do that doesn't hurt too much and not doing anything because you don't know enough to do something.
Okay let me rephrase what I meant, I don't know how you get people to care or want to educate themselves on the decisions being made in DC.
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Old 01-15-2013, 11:47 AM   #269
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You know, I just realized that the reason I have no recollection of this tax "holiday" is because at the same time it started two years ago, Illinois raised our state income tax 2%. So our paychecks didn't reflect a "savings". So, this does feel like an increase to me!

We are very blessed that my husband has had good pay raises in the last two years, it makes up for the 2% increase... But the overall tax burden is pretty gross.
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Old 01-15-2013, 11:48 AM   #270
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You do realize I already addressed this about 4 posts up? lol
Missed that!

Disney has been going after the South American market quite aggressively the past few years. They spend a considerable amount of money in the US because taxes make so many things more expensive to purchase in their native countries. It's cheaper for them to come here, do ton of shopping and visit Disney.
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