Exactly what increased???

[Password]

Originally Posted by ArkRescue

I saw a reduction of about $85 in my net pay due to the SS tax and the increase in health insurance premium. $85 x 26 paydays = $2,210 ($184 a month) in lost income for 1 year.

That's one way to look at it. The other way is to realize that you gained $85 per paycheck over the last 2 years, which may not have happened if the payroll tax holiday never took place.

[ArkRescue (Premo)]

Originally Posted by Password

That's one way to look at it. The other way is to realize that you gained $85 per paycheck over the last 2 years, which may not have happened if the payroll tax holiday never took place.

The majority came from the increase in health insurance premium .... not SS.

[kwillia]

Okay so a year ago it was this:

Calling it a “big deal,” the president today said the legislation, which he will sign into law when it reaches his desk later this week, will help middle-class Americans by providing an extra $40 a week in their paychecks.

“That $40 helps to pay the rent, the groceries, the rising cost of gas, which is on a lot of people’s minds right now,” Obama said as he stood with Americans who will benefit from the tax cut.


Here we are a year later and groceries are even MORE expensive than they are a year ago, the cost of gas is just as expensive and expected to become more expensive than ever before... why take back that "little extra something" that was meant to help the middle-class when they need it more than ever...

Obama Touts Payroll-Tax Cut Compromise - ABC News

[thatguy]

Wirelessly posted

Originally Posted by kwillia

Okay so a year ago it was this:

Calling it a “big deal,” the president today said the legislation, which he will sign into law when it reaches his desk later this week, will help middle-class Americans by providing an extra $40 a week in their paychecks.

“That $40 helps to pay the rent, the groceries, the rising cost of gas, which is on a lot of people’s minds right now,” Obama said as he stood with Americans who will benefit from the tax cut.


Here we are a year later and groceries are even MORE expensive than they are a year ago, the cost of gas is just as expensive and expected to become more expensive than ever before... why take back that "little extra something" that was meant to help the middle-class when they need it more than ever...

Obama Touts Payroll-Tax Cut Compromise - ABC News

Obama didn't take anything back, your congressmen refused to extend the tax holiday. You should be asking why our republican reps who have sworn to not raise taxes didn't vote for this to be extended.

[ArkRescue (Premo)]

PS - for $85 to be 2% (it was 2% right?) of my income I'd have to be making $110,000 a year. I assure you if I was making that much $85 wouldn't really be a lot to gripe about LOL

[migtig]

Originally Posted by ArkRescue

PS - for $85 to be 2% (it was 2% right?) of my income I'd have to be making $110,000 a year. I assure you if I was making that much $85 wouldn't really be a lot to gripe about LOL

Wow, that is a really good point.

I just figured mine and I'm paying more than the 2% too. It is actually 3.9%, and that is not including any changes to my health care.

What a scam.

[lovinmaryland]

Originally Posted by migtig

Wow, that is a really good point.

I just figured mine and I'm paying more than the 2% too. It is actually 3.9%, and that is not including any changes to my health care.

What a scam.

My boss told me it went from being 5.65% to 7.65%.

[Tilted (Premo)]

Originally Posted by lovinmaryland

My boss told me it went from being 5.65% to 7.65%.

The total employee's side of FICA taxes went back to 7.65%. That's 6.2% for Social Security and 1.45% for Medicare. Only the Social Security tax had been cut (to 4.2%, which meant 5.65% total).

The employer pays another 7.65% with the same split (6.2% and 1.45%).

[Password]

Originally Posted by ArkRescue

PS - for $85 to be 2% (it was 2% right?) of my income I'd have to be making $110,000 a year. I assure you if I was making that much $85 wouldn't really be a lot to gripe about LOL

keep in mind any changes to your PRIVATE health insurance costs as well. I initially thought mine had gone up more than 2% too, until I realized my health insurance company raised our per-paycheck price a few bucks.

[abcxyz]

Originally Posted by Tilted

The total employee's side of FICA taxes went back to 7.65%. That's 6.2% for Social Security and 1.45% for Medicare. Only the Social Security tax had been cut (to 4.2%, which meant 5.65% total).

The employer pays another 7.65% with the same split (6.2% and 1.45%).

That is so important that it should be said again:

The employer pays another 7.65% with the same split (6.2% and 1.45%).

I wish I only had a 2% increase instead of a 2% increase x the number of employees I have.