if you were to lose 40-70 a paycheck, how serious would that affect you?

[Anonymous]

Effective January 1st, if nothing is done to fix it..we reach our fiscal cliff and taxes on everyone goes up..tax credits for 2013 will be smaller and becuae of changes to the payroll tax and a raise in social security payments, paychecks will be smaller by about 40-70 range.

[RLT2]

It'll suck for sure

[ninjakids]

40-70 dollars or percent? This does affect me in Canada...but if it did i still would be bad off. Its just a matter of budgeting

[Anonymous]

I'm not worried about it. I am too low income for that too be taken from my check anyway. As it is I only get social security and Medicare taken from my check.

[Anonymous - Original Poster]

It equals out to being about 40-70 bucks a paycheck. For people who earn more than 60k it will be a little higher than that.

Quoting ninjakids:

40-70 dollars or percent? This does affect me in Canada...but if it did i still would be bad off. Its just a matter of budgeting

[Mrs.Kubalabuku]

I'd be getting my hair done every 8 weeks instead of every six.  DH and I figured this out when the tax breaks first took effect.  Really, last year about the time the deal was worked out, people should have realized it wasn't a permanent fix.

Personally, I don't agree with them giving these "breaks" that can expire.  People get used to that $40-70!  It seems small, but that is a tank of gas, or a quarter of my monthly grocery bill.  I always knew there was a HUGE chance things in the government would still be screwy, so I never allowed myself to get hooked on the tax breaks.  It was always just bonus money to invest or save, or use to do my hair.  lol

[Anonymous - Original Poster]

Social security payments are going up 2% if its not fixed..so yes you will be affected. Everyone who works and pays social security will feel a little.

Quoting Anonymous:

I'm not worried about it. I am too low income for that too be taken from my check anyway. As it is I only get social security and Medicare taken from my check.

[Autumn19]

well since dh only gets payed once a month wouldnt affect us to much.

[carter210]

40-70 every paycheck (if its closer to 70) would be our cell phone bill. That will suck for us.

[Momniscient]

Wouldn't affect me at all.

[Anonymous]

I would wind up oweing $10-$30 per week....

I make less than $3/hour (not counting tips.)