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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 (421-428):
demonica29
by Gold Member on Nov. 11, 2012 at 3:00 PM
Quoting Anonymous:




If you report it, the changes will affect you. Since you say it will not affect you, the logical assumption is that you do not report it. Way to go, potty mouth, it appears I hit a nerve.
Jacqalyn
by Gold Member on Nov. 11, 2012 at 3:05 PM
We are already struggling since a few weeks ago. Dh's checks have already been cut in half. We've gone from $1000 to $500 a week. So another $40-70 being cut out we will definitely be hurting until his hours go back up. Which fingers crossed it's suppose to pick back up after Christmas.
MariannLws
by Gold Member on Nov. 11, 2012 at 3:29 PM
It won't affect us
lovemyfamily864
by on Nov. 11, 2012 at 3:30 PM

It wouldn't really affect us.

But we won't lose anything as of Jan 1, no matter what happens.  My husband isn't paying taxes right now.

Anonymous
by Anonymous on Nov. 11, 2012 at 3:47 PM
It wont affect me week by week though and ghat is what i thought the question was. I will have to pay up come april but til then i will be ok.


Quoting demonica29:

Quoting Anonymous:






If you report it, the changes will affect you. Since you say it will not affect you, the logical assumption is that you do not report it. Way to go, potty mouth, it appears I hit a nerve.

Anonymous
by Anonymous on Nov. 11, 2012 at 6:25 PM
This. And between the 2 of us, we have 3 paychecks so that would equal 120-210. We already live paycheck to paycheck and can't afford the extras like car repairs, etc.


Quoting Anonymous:

Hopefully they fix it. We can't afford to lose anything right now.

Redwall
by on Nov. 11, 2012 at 6:36 PM

I don't work....my husband does....it'd hurt... alot.

moneysaver6
by on Nov. 11, 2012 at 10:31 PM

Whether or not paying a higher percentage of thier income to taxes would "hurt" them or the economy is irrelevant.  They shouldn't be required to pay a higher percentage of their income in taxes any more than 42% of working Americans should be exempt from taxes; many of them even being paid MORE than what they paid in through "earned" income credit.

And no one has said that tax cuts for ANYONE will be extended yet.  That's what the whole debate in Congress is over right now.

Quoting AVSpecWife4:

Actually it's been proven that taxing the ultra wealthy will not hurt the economy. Cutting programs will. Middle class tax cuts will be extended. Just not for the top 2%
Quoting moneysaver6:

My understanding is that they are all set to expire at once at the end of this year; just as they were at the end of 2010 and 2011...but they were extended for all at the last minute in both of those years.

Quoting AdellesMom:

They're not supposed to expire at once. The first one that's supposed to expire is the one for people making $250,000 or more a year. My family falls into that income bracket, and my husband and I don't have a problem with it.
Quoting moneysaver6:

I agree, but I think it will crash our economy if all of the cuts & the AMT changes all hit at once. Ideally, they'll add the increases back in gradually & one at a time.
Quoting AdellesMom:

I used to work until last week. My husband works and it still won't affect us. The cuts need to expire if we want our economy to get better.


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