Pay raises in Washington - Page 3
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  1. #21
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    Quote Originally Posted by AlyssaEimers View Post
    It might be small potatoes, but cuts should be made across the board. If an individual family was in a financial crisis, I would hope that not only would they cut down on the unnecessary major spending, but also cut out unnecessary petty spending as well. No one is saying this is the answer to the budget woes of America, but it really sent the wrong message to the struggling middle class that is looking a huge tax increases.

    What part of the middle class is looking at a huge tax increase? Cite please??????

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    Quote Originally Posted by Potter75 View Post
    What part of the middle class is looking at a huge tax increase? Cite please??????
    While the tax package that Congress passed New Year's Day will protect 99 percent of Americans from an income tax increase, most of them will still end up paying more federal taxes in 2013.

    That's because the legislation did nothing to prevent a temporary reduction in the Social Security payroll tax from expiring. In 2012, that 2-percentage-point cut in the payroll tax was worth about $1,000 to a worker making $50,000 a year.

    The Tax Policy Center, a nonpartisan Washington research group, estimates that 77 percent of American households will face higher federal taxes in 2013 under the agreement negotiated between President Barack Obama and Senate Republicans. High-income families will feel the biggest tax increases, but many middle- and low-income families will pay higher taxes too.
    Read more: Despite fiscal cliff deal, taxes to rise for most Americans - NY Daily News
    Last edited by GloriaInTX; 01-02-2013 at 01:12 PM.
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    So that works out to about 582 for a family making 50 grand. I will be honest and admit that I can't find it in me to call that a "huge" tax hike, any more than I could call those 900 raises "huge" .

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    Numbers from here USA TODAY

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    Quote Originally Posted by Potter75 View Post
    What part of the middle class is looking at a huge tax increase? Cite please??????
    Why your paycheck is getting smaller no matter what - Dec. 30, 2012

    An increase of $50/month for someone making $30,000/year is a lot of money. (DH makes more than that, that is just the example in the article) It might not be a lot to you, between the combination of insurance going up and taxes going up we will be paying about $200/month more this year than last year. You might run in different circles than I do, but to everyone I know, they are going to feel that.
    smsturner likes this.

    ~Bonita~

  6. #26
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    Quote Originally Posted by Potter75 View Post
    So that works out to about 582 for a family making 50 grand. I will be honest and admit that I can't find it in me to call that a "huge" tax hike, any more than I could call those 900 raises "huge" .
    $50-$100 a month may not be a big deal for a rich person like you, but on top of the expensive gas prices and higher prices on everything else plus the insurance increases, it hurts a lot of people.
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  7. #27
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    We're making more now (much more) than we were when that tax cut went into place. I knew it was temporary so I never counted that as guaranteed money forever.

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    Quote Originally Posted by GloriaInTX View Post
    $50-$100 a month may not be a big deal for a rich person like you, but on top of the expensive gas prices and higher prices on everything else plus the insurance increases, it hurts a lot of people.

    Interesting that you presume to know anything about our finances but okay. If you were right you would just have to acknowledge that that would mean I was getting hit a lot harder. Do you think anyone is excited to pay a 40 % tax rate and a brand new 3.6# tax on investments? Anyway. You know what they say about making assuming making you look like so ill just leave it at that.

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    At the time that the executive order was signed, we did not know if we were going over the cliff or not, so at the same time raises were being given to Congress, the middle class was looking at taxes going up an average of over $2,000 per family and the price of essentials like milk going up. I think it is reasonable to say that it was a poorly timed raise.

    ~Bonita~

  10. #30
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    Quote Originally Posted by Potter75 View Post
    Interesting that you presume to know anything about our finances but okay. If you were right you would just have to acknowledge that that would mean I was getting hit a lot harder. Do you think anyone is excited to pay a 40 % tax rate and a brand new 3.6# tax on investments? Anyway. You know what they say about making assuming making you look like so ill just leave it at that.
    If you don't want people to make assumptions on you being well off don't post things about your beach house and your rich circle of friends that go on safaris to shoot zebras. Just a suggestion.
    Mom to Lee, Jake, Brandon, Rocco
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    I never consider a difference of opinion in politics, in religion, in philosopy, as a cause for withdrawing from a friend. --Thomas Jefferson

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