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#3137258 - 01/24/13 11:09 AM Re: Yobuma's taxes that went into effect Jan 1 [Re: Wildcat]
Wildcat
Non-Typical


Registered: 06/10/00
Posts: 42105
Loc: Western Ky.

Offline
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.
_________________________
Obama, “the very danger the Constitution was designed to avoid." Liberal law professor Jonathan Turley.




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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: 19199
Loc: Knoxville-Dover-Union City, TN

Offline
 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: 5669
Loc: Dallas, TX & Signal Mtn, TN

shocked Online
 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)
_________________________
“The more I read and the more I listen, the more apparent it is that our society suffers from an alarming degree of public ignorance” - Retired Supreme Court Justice Sandra Day O’Connor

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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
Posts: 19199
Loc: Knoxville-Dover-Union City, TN

Offline
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: 5669
Loc: Dallas, TX & Signal Mtn, TN

shocked Online
 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.
_________________________
“The more I read and the more I listen, the more apparent it is that our society suffers from an alarming degree of public ignorance” - Retired Supreme Court Justice Sandra Day O’Connor

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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: 822
Loc: TN, Sumner, Hendersonville

Offline
 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.
_________________________
It has become appallingly obvious that our technology has exceeded our humanity.
Albert Einstein

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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: 44480
Loc: Just North of Chatt-town

Offline
 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: 1288
Loc: TN

Offline
 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: 1462
Loc: East Tenn

Offline
 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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