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Mom Confessions Mom Confessions

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

Posted by Anonymous   + Show Post
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.
Posted by Anonymous on Nov. 10, 2012 at 12:25 AM
Replies (21-30):
Anonymous
by Anonymous 1 - Original Poster on Nov. 10, 2012 at 12:34 AM
Yea and in addition to the social security break the amount people pay into federal taxes is going to go up.


Quoting 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
by Anonymous 5 on Nov. 10, 2012 at 12:34 AM
So I'd pay an extra $6 bucks. Not a problem to me.

Quoting Anonymous:

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.

winkyloafer
by on Nov. 10, 2012 at 12:35 AM
He already has over $400 taken from it. It wouldn't affect us in a major way.
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firespurity
by Ruby Member on Nov. 10, 2012 at 12:37 AM
Probably :(
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Crazy-Steph
by Ruby Member on Nov. 10, 2012 at 12:37 AM
1 mom liked this
Social security taxes are going back to what they were. They were temporally lowered beginning in 2011. Federal income tax was also lowered. So basically, things will go back to normal, payroll tax wise.
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Aamy
by Ruby Member on Nov. 10, 2012 at 12:38 AM
Not much at all. Would maybe skip going out to breakfast one weekend if need be.
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Anonymous
by Anonymous 1 - Original Poster on Nov. 10, 2012 at 12:38 AM
For a middle class family earning about 40k it would be a 2000 dollar tax hike
tifferie
by A$$tastic on Nov. 10, 2012 at 12:39 AM
$40-70 every week?? Yea be would be fine.
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Anonymous
by Anonymous 1 - Original Poster on Nov. 10, 2012 at 12:39 AM
1 mom liked this
Yes but a lot of people forgot what those checks were like and have budgeted using the raise. For a lot of families, they need that.


Quoting Crazy-Steph:

Social security taxes are going back to what they were. They were temporally lowered beginning in 2011. Federal income tax was also lowered. So basically, things will go back to normal, payroll tax wise.

RMB2011
by Platinum Member on Nov. 10, 2012 at 12:39 AM
I would have to cut out or lessen my 'splurge' money. I.e. the money I budget a month to waste on fabric and craft supplies lol but other than that, no it wouldn't make or break me.
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