Posted on 10/27/2010 3:53:20 PM PDT by Mrs. Don-o
Many employees are receiving notices this month that their contribution to their health insurance premiums is increasing. But that’s not all they’re getting from the Democratic Congress: They can also expect higher tax withholding beginning January 1, thanks to the decision Harry Reid and Nancy Pelosi made to leave town without voting on whether to let tax rates rise:
Employers in the U.S. are starting to warn their workers to prepare for slimmer paychecks if Congress fails to vote on an extension of Bush-era tax cuts.
“I’ve been doing payroll for probably close to 30 years now, and never have we seen something like this where it gets that down to the wire,” said Dennis Danilewicz, who manages payroll services for about 14,000 employees at New York University’s Langone Medical Center. “That’s what’s got a lot of people nervous. All we can do is start preparing communications with a couple of different scenarios.”
Lawmakers won’t start debating whether to extend the cuts, which expire Dec. 31, until after the Nov. 2 elections. Because it takes weeks to prepare withholding schedules, the Internal Revenue Service will probably have to assume the cuts will expire and direct employers to increase payroll deductions starting Jan. 1, experts say.
Ouch.
Obama made a mistake by saying he won’t extend ALL the tax cuts. There are a lot of working women these days and he’s going to lose their vote.....and that’s a big block.
The best thing the next Congress can do, besides extending those evil tax cuts for the rich, is eliminate withholding. When everybody has to write a check to the IRS every April 15, it will change the perception of government substantially.
Mmmmm,Mmmmm,Mmmmm. Your pay is go’in into “Obama’s Stash”.
The day is coming when the employed will not get paychecks but bills to pay from their jobs. The paychecks will turn to bills as the high mandatory health premiums (not diminished for the unemployed) and extreme taxes to pay back federal debt and fund pensions for state bureaucrats and continue to pay the non-working classes of professional welfare recipients and billionaire bankers (not taxed). When and even before this day arrives, the working poor will flee work for the more profitable (but less honorable) livelihood as professional welfare recipients.
It has already happened for my wife. Because of “Healthcare Reform,” they are taking $200 more out of her paycheck for health insurance each month.
Smaller paychecks and higher costs for food and clothing...
Commodities are going UP!
The good news: Now that we can’t afford to eat, we’ll have less of a problem with weight, which should make our healthcare costs lower if we can’t afford health insurance.
I think there should be no withholding and that taxes should be due on the first Tuesday in November — that is, Election Day.
Either economic collapse or revolution will follow. Or both in short order.
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