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#3137028 - 01/24/13 08:57 AM Yobuma's taxes that went into effect Jan 1
Chaneylake
Brownsville Mafia
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Registered: 12/18/07
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this is an actual example

person making $60,000.00 in 2012

gets a 2% pay raise on Jan 1, 2013 = $1200.00

yet has an additional $1976.00 taken out for taxes
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#3137030 - 01/24/13 08:59 AM Re: Yobuma's taxes that went into effect Jan 1 [Re: Chaneylake]
trealtree
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Registered: 09/29/04
Posts: 10817
Loc: Middle Tennessee

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Too bad most people are not getting raises. looks like most people just got a substantial pay cut.
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#3137045 - 01/24/13 09:04 AM Re: Yobuma's taxes that went into effect Jan 1 [Re: trealtree]
gasman
8 Point


Registered: 07/21/11
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Sucks don't it!!!!
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#3137049 - 01/24/13 09:08 AM Re: Yobuma's taxes that went into effect Jan 1 [Re: gasman]
waynesworld
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Registered: 05/13/12
Posts: 1482
Loc: Mboro, Tennessee

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Chaney what new taxes are you talking about?
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#3137054 - 01/24/13 09:11 AM Re: Yobuma's taxes that went into effect Jan 1 [Re: waynesworld]
Chaneylake
Brownsville Mafia
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 Originally Posted By: waynesworld
Chaney what new taxes are you talking about?


I do not know enough to talk about it, I guess its the Bush tax thingy that went away on Jan 1, 2013.

the example that I posted was told to me by a personal friend last night.

I am retired and have enough rightoffs that I basically do not pay any fed income taxes
_________________________
"Don't piss down my back and tell me its rain", Fletcher, Outlaw Josey Wales

Living somewhere between this world and the other, Legends of the Fall

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#3137060 - 01/24/13 09:16 AM Re: Yobuma's taxes that went into effect Jan 1 [Re: waynesworld]
de novo
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Registered: 07/21/08
Posts: 4032
Loc: Middle TN

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 Originally Posted By: waynesworld
Chaney what new taxes are you talking about?


Major portion of that is the employee is now responsible for their part of their own Social Security/Medicaid deductions. Obama and the idiot Republicans enacted a "holiday" for this deduction just long enough to get through the election.

There are dozens of hidden taxes for Obamacare that will indirectly impact middle class Americans immediately.
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#3137096 - 01/24/13 09:32 AM Re: Yobuma's taxes that went into effect Jan 1 [Re: de novo]
Wes Parrish
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Registered: 06/12/02
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 Originally Posted By: de novo
There are dozens of hidden taxes for Obamacare that will indirectly impact middle class Americans immediately.

Those hidden taxes within ObamaCare are a much bigger tax increase on the Middle Class than this 2% mentioned on payroll.

A tax is a tax, regardless of whether it's imposed on income, property, or the sale of something. ObamaCare contains the biggest tax increase in history within it, most of which will be paid by the Middle Class. When those who make a product are levied a huge tax (per ObamaCare), that "tax" is added onto the price of the products (most of which are used by the Middle Class).

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#3137105 - 01/24/13 09:39 AM Re: Yobuma's taxes that went into effect Jan 1 [Re: de novo]
waynesworld
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Registered: 05/13/12
Posts: 1482
Loc: Mboro, Tennessee

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Ya I know we will be paying it but most do not know who is responsible for which increase. De novo hit the "increase" everyone is seeing now. That was not an increase really just stupid policy to pay the masses off to keep quite tell after the election. The bush tax thingy most will not see this. What effect this has on us the masses is that the "evil rich" will make financial decisions based on the current law. This means when they look at two investment opportunities the tax implications is taken into consideration. So if they chose rather then invest in "Capital" type projects or just bank the money in non capital type investments they will chose the non-capital type because the risk/reward. The main taxes/cost that we will see from O is not even close to starting to be seen, but it will be hidden in a lot of cost increases.
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#3137106 - 01/24/13 09:39 AM Re: Yobuma's taxes that went into effect Jan 1 [Re: Wes Parrish]
jb3
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Registered: 02/23/09
Posts: 4228
Loc: Burns, TN

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Everyone got a raise when Bush was in office, but now we're going back to where we were before. I wasn't in favor of it when if first happened because you knew it would only last so long. With an original expiration date of 2010, I thought we'd go back sooner than later.
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#3137129 - 01/24/13 09:46 AM Re: Yobuma's taxes that went into effect Jan 1 [Re: jb3]
Kimber45 Moderator
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Registered: 07/10/08
Posts: 18234
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Until deadbeat giveaway programs start being stopped - until the # of politicians is cut in half, the middle class will overpay for the bulk of everything, as always, and it will only continue to get worse.

Edited by Kimber45 (01/24/13 09:47 AM)
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#3137130 - 01/24/13 09:47 AM Re: Yobuma's taxes that went into effect Jan 1 [Re: jb3]
Wes Parrish
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Registered: 06/12/02
Posts: 19395
Loc: Knoxville-Dover-Union City, TN

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 Originally Posted By: jb3
Everyone got a raise when Bush was in office, but now we're going back to where we were before.

No, TAXES are much higher than ever before.

Have your property taxes increased over the past decade? Sales taxes? Phone service taxes? New types of taxes being conceived daily?

Not to mention, the largest tax increase in history is just beginning: The hidden taxes within ObamaCare, which even includes a hefty new national "sales" tax on real estate.

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#3137138 - 01/24/13 09:49 AM Re: Yobuma's taxes that went into effect Jan 1 [Re: Wes Parrish]
Kimber45 Moderator
Peace Maker
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Registered: 07/10/08
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 Originally Posted By: Wes Parrish
 Originally Posted By: jb3
Everyone got a raise when Bush was in office, but now we're going back to where we were before.

No, TAXES are much higher than ever before.

Have your property taxes increased over the past decade? Sales taxes? Phone service taxes?

Not to mention, the largest tax increase in history is just beginning: The hidden taxes within ObamaCare, which even includes a hefty new national "sales" tax on real estate.


Surely we are all smart enough to understand that obummers giveaways have to be funded with real $.. Any you can charge the business owners if you'd like, however they'll only operate with less overhead and pass the increases off to what they sell - that we buy.
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Patriotism is not short, frenzied outbursts of emotion, but the tranquil and steady dedication of a lifetime.

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#3137190 - 01/24/13 10:19 AM Re: Yobuma's taxes that went into effect Jan 1 [Re: Wes Parrish]
Wes Parrish
16 Point


Registered: 06/12/02
Posts: 19395
Loc: Knoxville-Dover-Union City, TN

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While we're on the subject of most people being mostly clueless about all the taxes they're paying . . . . . . .

Many years ago in Tennessee, many careers that were considered to be "professional" were "chosen" to be required to have "licenses". The list of these "professional" careers is long, but includes such as physicians, dentists, real estate brokers, accountants, investment advisers, engineers, veterinarians, optometrists, the list goes on and on.

But back in the 1990's, Tennessee became creative with another way to raise taxes on most Tennesseans via laundering the tax thru these professions in creating the Tennessee Professional Privilege Tax.

"Professonal Privilege Tax?"
Now just WHAT is that? Most people have never heard of it, yet they are indirectly paying for it?

It is in fact part of why it now costs more to go to the doctor.

The "professional privilege tax" is levied on the privilege of having an active license to practice certain professions.

Did you get that? Does that sound bizarre?
What's coming next, a "privilege" tax for your TN Drivers' License (as it is a "privilege" to have a driver's license)?

A couple decades ago, a dentist had to have a "license" to be engaged in dentistry in TN. Still do today. But today, they are "levied" another tax on the "privilege" of their having a dental license.

But it gets worse.
In many cases the "privilege" tax cost more money than the cost of the license on which it is levied.

This is but one example of an "embedded" tax that is passed on to the end-user consumer of the services, which is typically just your average Middle Class American taking his dog to the vet or himself to the doctor. The tax is added into the bill.

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#3137201 - 01/24/13 10:27 AM Re: Yobuma's taxes that went into effect Jan 1 [Re: Kimber45]
PalsPal
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Registered: 10/01/12
Posts: 1415
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There have been no new Federal Income tax increases (yet) on any one, other than the top end (+$400k/yr).

The only change has been the 2% social security increase which was restored to its original amount. It began 2 yrs ago. Bush had nothing to do with it.

So, if someone got a 2% raise, then the increase netted out to a wash.

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#3137207 - 01/24/13 10:30 AM Re: Yobuma's taxes that went into effect Jan 1 [Re: PalsPal]
Wes Parrish
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Registered: 06/12/02
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Loc: Knoxville-Dover-Union City, TN

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 Originally Posted By: PalsPal
So, if someone got a 2% raise, then the increase netted out to a wash.

Meanwhile, the cost of my health insurance has about doubled in the past 4 years. Is that a "wash"?

And I expect my health insurance cost to continue to rise even faster in large part because of ObamaCare.

Personally, I don't know too many people that have gotten a 2% raise, although I do know quite a few who have been laid off from their jobs. I guess if the Obama Economy has taken it's toll on your company, you get laid off, then Obama has cut your taxes?

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#3137211 - 01/24/13 10:37 AM Re: Yobuma's taxes that went into effect Jan 1 [Re: Wes Parrish]
PalsPal
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Registered: 10/01/12
Posts: 1415
Loc: TN

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What are you talking about?

The OP dealt with FEDERAL INCOME TAXES lol !

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#3137214 - 01/24/13 10:39 AM Re: Yobuma's taxes that went into effect Jan 1 [Re: PalsPal]
Wes Parrish
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Registered: 06/12/02
Posts: 19395
Loc: Knoxville-Dover-Union City, TN

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 Originally Posted By: PalsPal
There have been no new Federal Income tax increases (yet) . . . . .

And THIS is a big part of how the Obama administration is pulling the wool over the eyes of most Americans.

Again, a tax is a tax, regardless of whether it is levied on our incomes, our property, or the fact the we breath air and they decide to tax the air we breath.

Our taxes have gone up dramatically, albeit many people's "income" taxes have in fact gone down, since less tax is owed when one makes less income because of the poor economy.

 Originally Posted By: PalsPal
What are you talking about?

The OP dealt with FEDERAL INCOME TAXES lol !

What am I talking about?
Some seem to be placing the focus on income taxes rather than taxes and/or saying a particular payroll tax isn't a part of our income tax system just because it's separately accounted. Put it this way, if you had no income you had no payroll taxes of any descript. But if you live and breath, either you and/or others are paying a myriad of increasing taxes on your behalf.

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#3137231 - 01/24/13 10:52 AM Re: Yobuma's taxes that went into effect Jan 1 [Re: Wes Parrish]
Vermin93
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Registered: 12/11/10
Posts: 5978
Loc: Dallas, TX & Signal Mtn, TN

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Wait - you mean Americans are actually going to have to pay more for Social Security, Medicaid, Medicare, Obamacare, defense spending and the countless other things our wonderful federal government spends way too much money on? I thought the rich people were going to pay for all that stuff?

If you do not support reforming the Social Security program in ways that will negatively impact you and your family (i.e. reducing Social Security payments, raising the retirement age, taxing income above $113,700), then you really can't complain about the Social Security tax withholding going back to where it was.
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"Islam has a proud tradition of tolerance." Barack Obama in Cairo, Egypt, June 4, 2009


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#3137242 - 01/24/13 10:58 AM Re: Yobuma's taxes that went into effect Jan 1 [Re: PalsPal]
muddyboots
12 Point


Registered: 11/06/02
Posts: 7197
Loc: savannah, tn., usa

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 Originally Posted By: PalsPal
There have been no new Federal Income tax increases (yet) on any one, other than the top end (+$400k/yr).

The only change has been the 2% social security increase which was restored to its original amount. It began 2 yrs ago. Bush had nothing to do with it.

So, if someone got a 2% raise, then the increase netted out to a wash.


Incorrect! I do payroll and i know Income taxes went up 2 percent at the beginning of 2011 but they were hid with a 2 percent deduction in social security tax until after election. So in 2012 ss tax returned to normal and there ya have an income tax rise.
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#3137254 - 01/24/13 11:06 AM Re: Yobuma's taxes that went into effect Jan 1 [Re: PalsPal]
Wildcat
Non-Typical


Registered: 06/10/00
Posts: 42376
Loc: Western Ky.

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 Originally Posted By: PalsPal
What are you talking about?

The OP dealt with FEDERAL INCOME TAXES lol !


Listen to Wes, he's a financial and estate advisor. He is listen on the TnDeer home page in the advertiser index at the bottom. the guy knows what he's talking about.
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Obama, “the very danger the Constitution was designed to avoid." Liberal law professor Jonathan Turley.




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#3137258 - 01/24/13 11:09 AM Re: Yobuma's taxes that went into effect Jan 1 [Re: Wildcat]
Wildcat
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Registered: 06/10/00
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As for the "2 year 2% income tax holiday" Obama gave everybody just wait until you turn 65 and see how much that realy costed you. You will pay for it in LOWER Social Security checks. Talk about suckers.
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#3137260 - 01/24/13 11:09 AM Re: Yobuma's taxes that went into effect Jan 1 [Re: Vermin93]
Wes Parrish
16 Point


Registered: 06/12/02
Posts: 19395
Loc: Knoxville-Dover-Union City, TN

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 Originally Posted By: Vermin93
If you do not support reforming the Social Security program in ways that will negatively impact you and your family (i.e. reducing Social Security payments, raising the retirement age, taxing income above $113,700), then you really can't complain about the Social Security tax withholding going back to where it was.

I totally support reforming Social Security, including reductions in social security taxes and benefits. If we don't do something soon, the "default" is at some point later there will be zero benefits as a bankrupt government cannot collect any money from a bankrupt nation that has nothing left. It's just a harsh reality that politicians are ignoring, and the people are not wanting to face. There is no, and there never has been any free lunch. As a nation, we have refused to pay sooner, or on time, and will be paying later, some how, some way, just a question to we choose the way, or go with the default plan of a sudden nothing.

Our government is borrowing money just to pay it's bills, much of which has become interest on the debt from a longterm practicing of spending money not had. What happens when no one is willing to loan the U.S. Government any money?

Do you realize our government is borrowing money in large part from people who are not exactly our best friends? What happens when the Chinese decide to cash in their U.S. Government bonds and refuse to buy (it's technically a "loan") any more? What happens when someone operates their own household finances like this? What happens when the credit card company (or China) cancels the card?

I hope no one is taking me wrong here, as I fully understand what's going on with the Social Security tax being reinstated post-election. There has been no change in the social security tax, other than a temporary scheme of a 2% "tax holiday" to help get Obama re-elected. It was scheduled to expire shortly after the 2012 Presidential elections.

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#3137270 - 01/24/13 11:15 AM Re: Yobuma's taxes that went into effect Jan 1 [Re: muddyboots]
Vermin93
12 Point


Registered: 12/11/10
Posts: 5978
Loc: Dallas, TX & Signal Mtn, TN

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 Originally Posted By: muddyboots
 Originally Posted By: PalsPal
There have been no new Federal Income tax increases (yet) on any one, other than the top end (+$400k/yr).

The only change has been the 2% social security increase which was restored to its original amount. It began 2 yrs ago. Bush had nothing to do with it.

So, if someone got a 2% raise, then the increase netted out to a wash.


Incorrect! I do payroll and i know Income taxes went up 2 percent at the beginning of 2011 but they were hid with a 2 percent deduction in social security tax until after election. So in 2012 ss tax returned to normal and there ya have an income tax rise.


This is absolutely not correct. Congress must legislate any changes to marginal federal income tax rates. There was no such legislation passed during 2010 and 2011. In fact, there has been no such legislation passed since the Bush Tax Cuts were fully implemented in 2003 until very recently when marginal federal income tax rates were raised on individuals making over $400K and couples making over $450K as part of the fiscal cliff deal between Congress and the President. Marginal federal income tax rates were the same from 2003 - 2012.


Edited by Vermin93 (01/24/13 11:37 AM)
_________________________
"Islam has a proud tradition of tolerance." Barack Obama in Cairo, Egypt, June 4, 2009


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#3137278 - 01/24/13 11:20 AM Re: Yobuma's taxes that went into effect Jan 1 [Re: Vermin93]
Wes Parrish
16 Point


Registered: 06/12/02
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Loc: Knoxville-Dover-Union City, TN

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However, TAXES in generally are now much higher, as is our national debt, which seems to be becoming mostly interest to our creditors (like the Chinese).

Ever heard the borrower is servant to the lender?
It really bothers me that we as a nation are having to borrow so much money and have so much debt, so much of which is being passed on for our children and grandchildren to pay (even though we got the benefits that they have to pay for).

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#3137295 - 01/24/13 11:26 AM Re: Yobuma's taxes that went into effect Jan 1 [Re: Wes Parrish]
Vermin93
12 Point


Registered: 12/11/10
Posts: 5978
Loc: Dallas, TX & Signal Mtn, TN

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 Originally Posted By: Wes Parrish
 Originally Posted By: Vermin93
If you do not support reforming the Social Security program in ways that will negatively impact you and your family (i.e. reducing Social Security payments, raising the retirement age, taxing income above $113,700), then you really can't complain about the Social Security tax withholding going back to where it was.

I totally support reforming Social Security, including reductions in social security taxes and benefits. If we don't do something soon, the "default" is at some point later there will be zero benefits as a bankrupt government cannot collect any money from a bankrupt nation that has nothing left. It's just a harsh reality that politicians are ignoring, and the people are not wanting to face. There is no, and there never has been any free lunch. As a nation, we have refused to pay sooner, or on time, and will be paying later, some how, some way, just a question to we choose the way, or go with the default plan of a sudden nothing.

I hope no one is taking me wrong here, as I fully understand what's going on with the Social Security tax being reinstated post-election. There has been no change in the social security tax, other than a temporary scheme of a 2% "tax holiday" to help get Obama re-elected. It was scheduled to expire shortly after the 2012 Presidential elections.


Wes - you and I are on the same page. I am not sure who frustrates me more:

1. Democrats who disingenuously use Social Security as a wedge issue every single election to scare people into voting for them and who dishonestly convince their constituents that Social Security will be just fine as it is.

2. Republicans who can't seem to find a way to effectively communicate a message that gets more Americans to understand the Democrats are not being honest about the current state and future of Social Security.

3. The American people who either don't understand or don't want to understand that Democrats are not being forthright about Social Security and that the current Social Security program will not survive without reforms that will negatively impact them and their families.
_________________________
"Islam has a proud tradition of tolerance." Barack Obama in Cairo, Egypt, June 4, 2009


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#3137330 - 01/24/13 11:40 AM Re: Yobuma's taxes that went into effect Jan 1 [Re: Vermin93]
89cherokeelimited
6 Point


Registered: 08/13/11
Posts: 836
Loc: TN, Sumner, Hendersonville

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 Originally Posted By: Vermin93
 Originally Posted By: Wes Parrish
 Originally Posted By: Vermin93
If you do not support reforming the Social Security program in ways that will negatively impact you and your family (i.e. reducing Social Security payments, raising the retirement age, taxing income above $113,700), then you really can't complain about the Social Security tax withholding going back to where it was.

I totally support reforming Social Security, including reductions in social security taxes and benefits. If we don't do something soon, the "default" is at some point later there will be zero benefits as a bankrupt government cannot collect any money from a bankrupt nation that has nothing left. It's just a harsh reality that politicians are ignoring, and the people are not wanting to face. There is no, and there never has been any free lunch. As a nation, we have refused to pay sooner, or on time, and will be paying later, some how, some way, just a question to we choose the way, or go with the default plan of a sudden nothing.

I hope no one is taking me wrong here, as I fully understand what's going on with the Social Security tax being reinstated post-election. There has been no change in the social security tax, other than a temporary scheme of a 2% "tax holiday" to help get Obama re-elected. It was scheduled to expire shortly after the 2012 Presidential elections.


Wes - you and I are on the same page. I am not sure who frustrates me more:

1. Democrats who disingenuously use Social Security as a wedge issue every single election to scare people into voting for them and who dishonestly convince their constituents that Social Security will be just fine as it is.

2. Republicans who can't seem to find a way to effectively communicate a message that gets more Americans to understand the Democrats are not being honest about the current state and future of Social Security.

3. The American people who either don't understand or don't want to understand that Democrats are not being forthright about Social Security and that the current Social Security program will not survive without reforms that will negatively impact them and their families.




Most Democrats that feed these lies keep feeding them so no matter what a Republican says to many people already believe the Democrat.
Just like in the previous Presidential debates, obama would say "Romney is doing this and this" and Romney would come back and say "This is my plan for the next 4 years" the democrats still wouldn't believe Romney.
I don't think it's the Republicans can't get an effective messaged out there. I think it's the majority of Americans want to be lazy and lean on the government so that's what obama promised that's what the majority will go for.
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#3137497 - 01/24/13 01:07 PM Re: Yobuma's taxes that went into effect Jan 1 [Re: Vermin93]
MUP
Non-Typical


Registered: 08/01/07
Posts: 45465
Loc: Just North of Chatt-town

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 Originally Posted By: Vermin93
 Originally Posted By: Wes Parrish
 Originally Posted By: Vermin93
If you do not support reforming the Social Security program in ways that will negatively impact you and your family (i.e. reducing Social Security payments, raising the retirement age, taxing income above $113,700), then you really can't complain about the Social Security tax withholding going back to where it was.

I totally support reforming Social Security, including reductions in social security taxes and benefits. If we don't do something soon, the "default" is at some point later there will be zero benefits as a bankrupt government cannot collect any money from a bankrupt nation that has nothing left. It's just a harsh reality that politicians are ignoring, and the people are not wanting to face. There is no, and there never has been any free lunch. As a nation, we have refused to pay sooner, or on time, and will be paying later, some how, some way, just a question to we choose the way, or go with the default plan of a sudden nothing.

I hope no one is taking me wrong here, as I fully understand what's going on with the Social Security tax being reinstated post-election. There has been no change in the social security tax, other than a temporary scheme of a 2% "tax holiday" to help get Obama re-elected. It was scheduled to expire shortly after the 2012 Presidential elections.


Wes - you and I are on the same page. I am not sure who frustrates me more:

1. Democrats who disingenuously use Social Security as a wedge issue every single election to scare people into voting for them and who dishonestly convince their constituents that Social Security will be just fine as it is.

2. Republicans who can't seem to find a way to effectively communicate a message that gets more Americans to understand the Democrats are not being honest about the current state and future of Social Security.

3. The American people who either don't understand or don't want to understand that Democrats are not being forthright about Social Security and that the current Social Security program will not survive without reforms that will negatively impact them and their families.




That's an easy one for me, it's the ignorant voters in this country who can't/won't take time to find out one inkling of information about what the govt is doing, and voting for the liberal scum that keep pulling the wool over their eyes.
_________________________
MUP

Amateurs: Built the Ark

Professionals: Built the Titanic

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#3137538 - 01/24/13 01:29 PM Re: Yobuma's taxes that went into effect Jan 1 [Re: Wildcat]
PalsPal
8 Point


Registered: 10/01/12
Posts: 1415
Loc: TN

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 Originally Posted By: Wildcat

Listen to Wes, he's a financial and estate advisor. He is listen on the TnDeer home page in the advertiser index at the bottom. the guy knows what he's talking about.


I never said that he didn't. My apologies Wes if it came across that way.

I just pointed out that there was no Federal Income tax hike between December 2012 and January 2013, which is what was alluded to in the original post. The only change in employee's pay checks so far for 2013 is the 2% SS increase.

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#3137565 - 01/24/13 01:54 PM Re: Yobuma's taxes that went into effect Jan 1 [Re: PalsPal]
huntinkev
8 Point


Registered: 11/23/06
Posts: 1530
Loc: East Tenn

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 Originally Posted By: PalsPal
There have been no new Federal Income tax increases (yet) on any one, other than the top end (+$400k/yr).

The only change has been the 2% social security increase which was restored to its original amount. It began 2 yrs ago. Bush had nothing to do with it.

So, if someone got a 2% raise, then the increase netted out to a wash.


I know this isn't true.

I got a 4% raise on Jan. 1 and it was almost a complete wash. It makes a difference of $3 week. I don't know if it bumped me in a different bracket or what but there is more than 2% coming out of my check I can personally testify to that.

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