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  1. #1
    Join Date
    May 2009
    Location
    South of Heaven
    Posts
    1,169

    Working Folks Fell Off the Cliff ?

    I have read that payroll taxes are going up and I'm now paying for NASCAR. Can someone explain this to me ?

  2. #2
    Join Date
    Oct 2012
    Location
    CA
    Posts
    418
    social security payroll taxes are going back to the 6.2 percent level that they were at during the bush years . I believe they were lowered to 4.2 percent at the beginning of obamas first term. Don't know about nascar i'm into super cross racing .

  3. #3
    Join Date
    May 2009
    Location
    South of Heaven
    Posts
    1,169
    I'm going to bust into the pit area and demand ignition timing / RPM parameters if I'm paying for this crap. I hate nascar too.

  4. #4
    Join Date
    Oct 2009
    Posts
    984
    Quote Originally Posted by tech45 View Post
    I'm going to bust into the pit area and demand ignition timing / RPM parameters if I'm paying for this crap. I hate nascar too.
    Yup!. Freedom of info act. Oops, abolished affordable care act page 1721.
    Never argue with a crazy man.

  5. #5
    Join Date
    Nov 2006
    Location
    Desert Southwest
    Posts
    719
    Quote Originally Posted by 54885488 View Post
    social security payroll taxes are going back to the 6.2 percent level that they were at during the bush years . I believe they were lowered to 4.2 percent at the beginning of obamas first term. Don't know about nascar i'm into super cross racing .
    To the tune of two months rent for me.
    If you can't fix it with JB Weld, Duct Tape, and Ty Wire it has to be replaced.
    No good deed goes unpunished.
    If you want to take off friday to go fishing then make sure you train your helper right.

  6. #6
    Join Date
    Oct 2011
    Location
    Chicagoland Area
    Posts
    4,826
    $43. in increases to every $1. in cuts.
    Officially, Down for the count

    YOU HAVE TO GET OFF YOUR ASS TO GET ON YOUR FEET

    I know enough to know, I don't know enough
    Liberalism-Ideas so good they mandate them

  7. #7
    Join Date
    Oct 2012
    Location
    CA
    Posts
    418
    Quote Originally Posted by 2sac View Post
    $43. in increases to every $1. in cuts.
    Yea , hopefully the spending cuts come during the coming debt ceiling mess that's coming . Don't hold your breath though on that . Don't any of them understand a balanced approach . $1 for $1

  8. #8
    Join Date
    Oct 2012
    Location
    CA
    Posts
    418
    Quote Originally Posted by desert guy View Post
    To the tune of two months rent for me.
    Yea me to .

  9. #9
    Join Date
    Feb 2004
    Location
    wisconsin
    Posts
    71
    Yeah just looked at my check and notice it was about 35 dollars lighter then usuall but I have to remember this was a payroll holiday that I have been recieving so I guess the holiday is over...1 less case of beer and tank of gas for me...

  10. #10
    Join Date
    Oct 2012
    Location
    CA
    Posts
    418
    I choose to look at it this way , taxes have gone back to prebush levels except for people under 350k . Tax cuts should have never been because it helped fuel are current economy. No body likes higher taxes but its part of the game . I wish we would have already had equal cuts in spending as new taxes . Im in the 40-50k bracket and my taxes are low anyway so raising some is ok . Plus if the 2 percent helps social security than im ok with it . Dont know if it does though .

  11. #11
    Join Date
    Nov 2006
    Location
    Desert Southwest
    Posts
    719
    Used to be sufficent $$ in SS until it was raided.
    If you can't fix it with JB Weld, Duct Tape, and Ty Wire it has to be replaced.
    No good deed goes unpunished.
    If you want to take off friday to go fishing then make sure you train your helper right.

  12. #12
    Join Date
    Feb 2004
    Location
    Woburn, MA
    Posts
    6,884
    Quote Originally Posted by desert guy View Post
    Used to be sufficent $$ in SS until it was raided.
    Not quite true. The money taken was replaced with vouchers which still counts as "on the books" so to speak.

    That isn't the problem. The problem is that we are becoming Italy; the amount of elderly retirees is currently outpacing our ability to replace them with active working bodies. Thus, between 1945 and 1965, the decline in worker-to-beneficiary ratios went from 41 to 4 workers per beneficiary.

    The program can stay in good health at 3 workers per retiree. Unfortunately, we are currently just below that at 2.9 workers per retiree. That will go to a flat 2.0 by 2030, which is why that is around the year they say the program will only be able to pay out about 75% of benefits.

    That is, assuming that the Feds do not also default on the vouchers thing.
    "Social networking" is an oxymoron.

  13. #13
    Join Date
    Feb 2009
    Location
    Canada
    Posts
    6,876
    Quote Originally Posted by scrogdog View Post
    Not quite true. The money taken was replaced with vouchers which still counts as "on the books" so to speak.

    That isn't the problem. The problem is that we are becoming Italy; the amount of elderly retirees is currently outpacing our ability to replace them with active working bodies. Thus, between 1945 and 1965, the decline in worker-to-beneficiary ratios went from 41 to 4 workers per beneficiary.

    The program can stay in good health at 3 workers per retiree. Unfortunately, we are currently just below that at 2.9 workers per retiree. That will go to a flat 2.0 by 2030, which is why that is around the year they say the program will only be able to pay out about 75% of benefits.

    That is, assuming that the Feds do not also default on the vouchers thing.
    And that is the big elephant in the room that the conservatives that call for tax cuts ignore. You just do not have time to get your financial situation in order without raising money to pay down the debt before a good chunk of the population wants to retire. And with them retiring spending will go down reducing the economy and the government's cut of it.
    Never argue with a fool, onlookers may not be able to tell the difference. —Mark Twain

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