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Mom Confessions Mom Confessions

Will the payroll tax increase hurt your family?

Anonymous
Posted by Anonymous
  • 74 Replies
Everyone's paychecks, no matter how much you earn are going to go down. If you earn 41,000 a year, you will have to pay an extra $64 per month, which equates to $768 per year. Obviously if you earn more you'll have to pay more. Here's more details: http://www.clickorlando.com/news/money/Bosses-Don-t-blame-us-for-smaller-checks/-/1637116/17980832/-/ndrpmy/-/index.html How will it affect you? For us, we currently contribute 6% of our income to retirement and had planned to increase it to 8% but I don't know if we wil right now..............
Posted by Anonymous on Jan. 2, 2013 at 9:44 AM
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Replies (1-10):
Anonymous
by Anonymous 1 - Original Poster on Jan. 2, 2013 at 9:49 AM

Anyone?

.ChiMama.
by Gold Member on Jan. 2, 2013 at 9:51 AM

It will definitely hurt our family. Both dh and I make over 40k each. Even if we pay up $768 each, that is $1536 that could go into my saving or my kid's tuition. We had plans on getting a second car this year, I don't know if that's going to happen anymore.

miss_lisa
by on Jan. 2, 2013 at 9:52 AM
It won't. We'll pay more but we live below our means so it doesn't really matter.
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Not_A_Native
by Ruby Member on Jan. 2, 2013 at 10:31 AM

We reach the cutoff fairly early in the year.  Then again, we KNOW we will always pay more in taxes.

Anonymous
by Anonymous 2 on Jan. 2, 2013 at 10:36 AM
1 mom liked this

 I think it's kind of funny to be honest.  We won't notice it one way or the other, but there are plenty who will and maybe they will be a little more careful about how they vote next time.  Then again, I doubt it.  Stupid people are like zombies.  They just follow the noise with their mouths hanging open scratching for more.

brittany208
by on Jan. 2, 2013 at 10:38 AM

Just won't be able to pay off some debt as fast as I'd like to.

KairisMama
by Emerald Member on Jan. 2, 2013 at 10:39 AM

 I don't have SS deducted from my checks since I have teacher's retirement. I won't see a change. DH will see a small decrease, but what are you going to do? At Least the fiscal cliff deal was reached for now.

Anonymous
by Anonymous 3 on Jan. 2, 2013 at 10:39 AM

This.


Quoting miss_lisa:

It won't. We'll pay more but we live below our means so it doesn't really matter.


illinoismommy83
by on Jan. 2, 2013 at 10:40 AM

Obviously a couple bucks a month will hurt everyone. I am sure most low income families, who will probably feel it the most, can find a way to adapt. 

If we end up with a little less in savings per year it will suck, but whatever.  Its not like its that hard to supplement your income. If a low income family is losing $64 a month, maybe the mom will have to go babysit one night a month to make it up. Hardly seems like the end of the world.

two4one
by Platinum Member on Jan. 2, 2013 at 10:40 AM
3 moms liked this

Hurt us? No. Annoying? Yes.

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