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Thread: Not going to tax the middle class

  1. #1
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    Default Not going to tax the middle class

    Got my first check for 2013 a week later than I was supposed to because of the tax rate crap and our financial secretary refuses to take a chance on over or under withholding even a penny. I got a raise this year of 3% but actually it ended up being a freckle over 1%. Thanks Obama. And I can't wait to see what I have to look forward to as Pelosi is grinning from ear to ear making the comment that adding revenue wasn't finished.

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    Senior Member gmhr1's Avatar
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    payroll tax increasing from 4.2% to 6.2 % and obamacare taxes to kick in on top of that. My daughter just lost an extra $100 a month.
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    Quote Originally Posted by gmhr1 View Post
    payroll tax increasing from 4.2% to 6.2 % and obamacare taxes to kick in on top of that. My daughter just lost an extra $100 a month.
    The payroll tax (social security) should NEVER have been cut in the first place. That program is underfunded even at 6.2%.-Paul
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    Senior Member Gerry Clinchy's Avatar
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    Quote Originally Posted by paul young View Post
    The payroll tax (social security) should NEVER have been cut in the first place. That program is underfunded even at 6.2%.-Paul
    Agree with you, Paul. Seemed like a pretty dumb idea to me. But it did provide some extra goodie for the two years leading up to the Presidential election

    On the up side, it brings home again to people just how much they are paying into SS ... and Congress isn't doing anything to "fix" SS.
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    Senior Member Jim Danis's Avatar
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    Quote Originally Posted by paul young View Post
    The payroll tax (social security) should NEVER have been cut in the first place. That program is underfunded even at 6.2%.-Paul
    Definitely should not have been cut in the first place. What would save us more money in the long run would be to open up drilling in Alaska and out west to lower oil prices. Get us back to what gas was costing when Obama took office in 08 and we'd have a lot more in our pockets than what the 2% cut is Social Security taxes gave us.
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    Senior Member road kill's Avatar
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    To the title;

    Who did people honestly think was going to bear the burdon of tax increases???

    Are you that naive or just blinded by class hatred??

    The "middle class" has, is and always will pay the freight!!


    Wealthy folks have tax attorneys they pay more to (in salaries) than the taxes would cost to avoid paying them!!!!!

    Stan b & Elvis

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    Senior Member Meleagris1's Avatar
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    I am an attorney and work with income and estate tax matters frequently. Most of my "wealthy" clients pay absolutely obscene amounts in taxes, and despite popular misconceptions there are no silver bullets. Some can utilize the lower capital gains rates for a portion of their income, but even then the vast majority are paying more far more as a % of their income than the vast majority of the middle class. However, even with lower tax rates the middle class is saddled with a very heavy tax load, since with their levels of income they are working much closer to the margin. I am not for any tax increases without accompanying spending cuts, but in this case I am glad to see FICA go up to its normal rate, since it "feels" like a tax increase to all Americans, even to the 47% who have no skin in the game when it comes to federal income tax. If nothing else it might possibly make people think a little before they blindly support tax increases that don't affect them.

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    Senior Member Ken Bora's Avatar
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    Quote Originally Posted by Gerry Clinchy View Post
    ........On the up side, it brings home again to people just how much they are paying into SS ... and Congress isn't doing anything to "fix" SS.

    look at how SS works. How it actualy works. Then look up ponzie scheme. Then ask yourself. Why is the government able to do something they put that Bernie Madeoff guy in jail for?????? And the PURE Waste in SS, I see it every day. UGH!!
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    Senior Member road kill's Avatar
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    Quote Originally Posted by Ken Bora View Post
    look at how SS works. How it actualy works. Then look up ponzie scheme. Then ask yourself. Why is the government able to do something they put that Bernie Madeoff guy in jail for?????? And the PURE Waste in SS, I see it every day. UGH!!
    Simple fix.

    No one, I repeat NO ONE who didn't pay in gets Social Security.
    It is not a slush account for Democrats to buy votes.
    Stan b & Elvis

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    Quote Originally Posted by road kill View Post
    Simple fix.

    No one, I repeat NO ONE who didn't pay in gets Social Security.
    It is not a slush account for Democrats to buy votes.

    Only the Democrats Stan? Really?????
    there's no good reason to fatten up a retriever.

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