What are you cutting in your budget to absorb the Payroll Tax increase?

[joedplumber]

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.

 

[mks18412]

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.

 

[joedplumber]

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.

 

[joedplumber]

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.

 

[joedplumber]

I should of made myself more clear. That last comment is in regards to insurance.

 

[Marionnette]

Yet Disney crowds are probably at an all time high!

You do realize that not every visitor is an American, don't you?

 

[joedplumber]

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

 

[luv2mickey]

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.

 

[preschoolmom]

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.

 

[Marionnette]

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.

 

[mikehn]

Its sad that it takes a disboard thread to wake people up to what's really going on

 

[Muushka]

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

I guess it is better to send it to DC than to have people pay down their personal debt (lower their payments, creating extra money to spend in the long run) or use the money to survive.

DC manages money much better than any of us ever could.

My bad.

 

[runwad]

I guess it is better to send it to DC than to have people pay down their personal debt (lower their payments, creating extra money to spend in the long run) or use the money to survive.

DC manages money much better than any of us ever could.

My bad.

In this instance ya I think it is. I mean there are people who can't save for retirment while they're working, what is going to happen to all these people when they can't work? I know everyone thinks they will work for ever. Well I got news for ya, most companies get rid of their older workers cause they cost them too much money, either in health benefits or just salaries. Now what? People HAVE to find a way to save. You either cut out or bring in more, those are your only two choices. Yet most make no move to either. What will happen to us a society? I don't think it will be pretty.

 

[Marionnette]

In this instance ya I think it is. I mean there are people who can't save for retirment while they're working, what is going to happen to all these people when they can't work? I know everyone thinks they will work for ever. Well I got news for ya, most companies get rid of their older workers cause they cost them too much money, either in health benefits or just salaries. Now what? People HAVE to find a way to save. You either cut out or bring in more, those are your only two choices. Yet most make no move to either. What will happen to us a society? I don't think it will be pretty.

So the answer is for the government to handle this for everyone because some people can't grow up, act like adults and handle their finances responsibly? Hello Nanny State!

 

[RitaE]

So the answer is for the government to handle this for everyone because some people can't grow up, act like adults and handle their finances responsibly? Hello Nanny State!

I don't think we should let the government manage our retirement funds -- they suck at money management more than most people.

Let's just put Warren Buffet or somebody in charge of saving us from ourselves, he at least appears competent.

 

[eliza61]

So the answer is for the government to handle this for everyone because some people can't grow up, act like adults and handle their finances responsibly? Hello Nanny State!

it's not an either or proposititon. Nanny state or make believe world.

Yes people should be responsible, grow up, yada yada yada. How's that working?

We can scream all we want about what people wouldna, shoulda, coulda and all that will get you is a sore throat (as my dad use to say).

The fact is people ARE NOT responsible and when they get old they do not magically disappear and cost us nothing.

The fact is also that senior citizens are a powerful group and like it or not so far they've done a pretty good job of keeping their social security and medicaid benefits. Now whether you like it or not, whether you think that makes us entitled or nanny state really doesn't matter cause it's not going to really change in the near future. Believe me, I am fully funded for my retirement and I plan on collecting every single dime from social security. with health care insurance the minute I turn 65 I am applying for medicaid and I vote along those issues. I worked for them

Now throw in the fact that we are living longer, many are outliving what meager savings they have managed to save, and the population is growing older. We don't have much of a choice. we will be taking care of these folks whether we like it or not.

look over the last two years people did not all of a sudden have some great big epiphany due to getting the extra 2%. as of 2011, the last time they had various surveys only about 25% of working americans have gotten around to saving for their retirement and if the majority of people here are an indication, they spent the 2% knowing it would not last long (doesn't sound so responsible to me)

Now they are a myrid of reasons for that, things that definitely make it difficult to save but it took a total break down in the economy to makes folks stop charging.

And you're trying to sell the the line that if they didn't have to pay this extra 2% they all of a sudden would start spending/saving within their means.

I know I sound harsh but I think the "everyone should be responsible" is just code speak for "it's not my problem" when it very much is everyone's problem.

 

[runwad]

So the answer is for the government to handle this for everyone because some people can't grow up, act like adults and handle their finances responsibly? Hello Nanny State!

What's a better solution for people who can't do this for themselves? What happens to them then? What kind of a society do we want? I don't like taking care of people, I'm more of teach a man to fish gal, but I don't want civil unrest. I don't have any answers, its complicated.

 

[ilovemk76]

it's not an either or proposititon. Nanny state or make believe world.

Yes people should be responsible, grow up, yada yada yada. How's that working?

We can scream all we want about what people wouldna, shoulda, coulda and all that will get you is a sore throat (as my dad use to say).

The fact is people ARE NOT responsible and when they get old they do not magically disappear and cost us nothing.

The fact is also that senior citizens are a powerful group and like it or not so far they've done a pretty good job of keeping their social security and medicaid benefits. Now whether you like it or not, whether you think that makes us entitled or nanny state really doesn't matter cause it's not going to really change in the near future. Believe me, I am fully funded for my retirement and I plan on collecting every single dime from social security. with health care insurance the minute I turn 65 I am applying for medicaid and I vote along those issues. I worked for them

Now throw in the fact that we are living longer, many are outliving what meager savings they have managed to save, and the population is growing older. We don't have much of a choice. we will be taking care of these folks whether we like it or not.

look over the last two years people did not all of a sudden have some great big epiphany due to getting the extra 2%. as of 2011, the last time they had various surveys only about 25% of working americans have gotten around to saving for their retirement and if the majority of people here are an indication, they spent the 2% knowing it would not last long (doesn't sound so responsible to me)

Now they are a myrid of reasons for that, things that definitely make it difficult to save but it took a total break down in the economy to makes folks stop charging.

And you're trying to sell the the line that if they didn't have to pay this extra 2% they all of a sudden would start spending/saving within their means.

I know I sound harsh but I think the "everyone should be responsible" is just code speak for "it's not my problem" when it very much is everyone's problem.

I hate the entitlement mentality and how much DC spends but this tax holiday was a huge mistake. All we did was borrow more money so was could give a 2% back to spend.

I hear people say, "I fully fund my retirement" or "I fully fund my 401K" all the time. I wonder what his really means. I am saving what I think I need to to have enough for my retirement but I will not know if I got it right until I run out of money or I die.

 

[mks18412]

Its crazy that people think the government is saving money for you to retire.... It doesnt matter if the SS tax is 6.2% or 50% of our income we will more than likely never see it. They will keep moving the retirement age up so noone can get. They know what they are doing. I can and do a better job saving money than the government has or ever will.
If people are not personally saving then they will be screwed in the end. You can not rely on the government to do it for you. Everything will be gone! Wake up people!!!
Yes, this is everyones problem but there is not a thing anyone of us can do about it. I did my part and voted accordingly but didnt get me very far.

 

[eliza61]

I hate the entitlement mentality and how much DC spends but this tax holiday was a huge mistake. All we did was borrow more money so was could give a 2% back to spend.

I hear people say, "I fully fund my retirement" or "I fully fund my 401K" all the time. I wonder what his really means. I am saving what I think I need to to have enough for my retirement but I will not know if I got it right until I run out of money or I die.

Fully agree and don't know if you remember but there were a few folks that said that this tax holiday was a huge mistake because of what we see today. You should have seen the flames. whew. every thing from I need my money to the I can do a better job than the government.

One of my greatest regrets is that I started saving late in the game. dh and I really didn't start saving well into our thirties, one of the reasons was that probably a bit "entitlement" thinking. When we grew up and started working you worked for a company got a pension, that along with some savings and social security got you through.
Now you're right it's hard to see the end game.
You mentioned it before, even with a company funded retirement plan there are plenty of issues that can derail me. will it keep place with inflation? what are my tax implications? what if my health fails? when I first started working I think 77 was the average life span of women, now we've creep up a little but we also have expensive medical solutions keeping us alive.

My concern is that we seem to be dug into these trenches. "government will help me" and "tough cookies to you if you didn't save".
Neither reasoning is going to provide a solution.

Personally I don't think we have an option to social security. we have no option but to fund it. senior citizen population grew about 5% in a little over 8 years. we have an entire generation of folks around my age (mid 50's) that will depend on some type of assistance to survive. Now look at the age group 40's and they are less prepared to weather senior hood. So for the next 40 years (if those 40 some things average 80 years of life) we are going to have a boat load of folks who will definitely require help. Not sure how those in their 30's stand.