Skip to comments.Who else just got notified by management about the 2% payroll tax increase?
Posted on 01/04/2013 8:40:47 AM PST by MeneMeneTekelUpharsin
Our supervisor just notified us that the accountant will be placing a 2% increase in payroll tax on our checks per the "Fiscal Cliff" bill. They lied to the American people and taxed everyone more. Where's the media on this? Liars, liars, liars, liars, liars. Oh, so what! The people who voted that party into office doesn't pay taxes anyway.
Warren Buffet says he’d be happy to pay a little more payroll tax, if he received a paycheck.
Did you correct your supervisor and tell them the increase had nothing to do with the “Fiscal Cliff” bill?
Just saw my statement for my next paycheck and Will be taking about $175 hit per month...
Just saw my statement for my next paycheck and will be taking about $175 hit per month...
We got the notice in late November or early December. It had several variations and what they would likely mean.
This needed to happen and was a stupid Obama idea from the beginning to make people “feel” like he was doing something for them.
Taking money away from Soc. Sec. only makes it bankrupt faster.
That goes without saying that I’d be ok if they stopped Soc. Sec. withholding completely and got rid of the thing...
Me, the sent out an e-mail last evening to all employees. Kinda surprised they did as they typically try to bury bad news....
so, you make over 100K per year and are part of the evil rich that must pay for the rest of us poor slobs. Suck it up!!(sarc)
If you have twitter follow this line, very funny:
That notification came just shortly after the notice that our health insurance premiums were going to rise by 38% this year...
I calculated our new taxes with the online charts and we’re looking at a 62% increase. Helloo, we’re this  much over the poverty line as it is so every dime is precious.
This tax is really the SS payroll tax they cut a year or so ago. It was for 1 or two years. It lowered the amount of SS taxes collected from every paycheck, which should’ve been objected to, since SS is supposed to ‘be there’ for you when you retire...as a little something extra to help with your personal IRAs. So, it basically expired and now everybody is paying the whole amount into SS once again. It is not really a new tax, just reinstatement of the original one. Obama wanted to make everybody THINK he was saving them money, when in fact, he was lessening the amount you’ll have saved overall. Good thing it was temporary. IF they actually FIX the program, where you could opt out of SS and plan your own retirement annuity, you could actually save a lot more. But, from a retiree’s perspective (meaning I am one) it is not enough to live on, regardless of how much they take out because they use it for everything (almost), except what it is intended for.
If they wanted to do what is right they should have taken the money out of the Federal Employees pension fund.
My daughter just posted on FB - “Just saw my pay stub for my next check. There is officially no incentive for hard-working Americans anymore.”
She’s only 26. And she voted for Romney.
not in Texas, dude. Texas got there own special tax collection thing going on. That 2% goes to the Mexicans, to help build a fence and an 8-lane NAFTA highway, so your supervisor is really not reading his updates.
Maybe you are actually earning $450,000 per year, but you don’t recognize it because you have then taking out a lot of deductions for your 401K, Savings Bonds, etc.
The “Payroll Tax” is related to the FICA (Social Security) with-holding drop that was put into effect a while ago, they were underwitholding the SS amount by 2% on the employee side and have been for years now...
Basically the fiscall cliff nonsense didn’t extend this reduction, it expired at the end of 2012.
Whether you agree or not with SS playing around with an underfunded program already I never found to be the wisest move.
If the fiscal cliff “compromise” hadn’t happened, those paying taxes on the lowest end would have seen their income taxes rise 50%, as the lowest tax bracket of 10% would have joined with the next higher up at 15%.
So yes, everyone will see their ss witholding take another 2% of their paycheck, until they reach the maximum earning threshold (if they earn over it) and be back to its standard witholding rate.
Some funny stuff including a few desperate liberals.
You’re just now hearing about this?
This has been in the news for months, but the sheeple have paid no attention to it.
TERRY SAVAGE: How the deal affects you
BY TERRY SAVAGE December 31, 2012 10:20PM
Fiscal cliff vote: What it means to you
Updated: January 1, 2013 11:24AM
So, whats the immediate impact on you, if the Senate deal passes the House on Tuesday?
Payroll taxes: For sure, and for everyone, the payroll tax will return to 6.2 percent from 4.2 percent where it has been since 2010 costing the average worker about $1,000 a year...
A few 2011 stories:
Only the less than 50% of the country that are employed.
He didn't say it had anything to do with the Fiscal Cliff bill. I'm just showing the lies of Congress, which has absolutely NO intention of providing ANY relief to the general populace in regard to taxes.
Middle Class Taxes Just Went Up
Obama Breaks Promise to Not Raise Taxes on the Middle Class.
Stupid idea to begin with, but now not only did the employee paychecks get smaller, but the employer’s matching tax went up. So while each of my employees took a $50 to $120 monthly hit, I get to take the hit for ALL OF THEM as well, which for me will be about $800 a month PLUS the higher self-employment tax I will pay for myself.
As soon as I get the final numbers I will raise my prices by the same percent to cover this new cost. I will also tell every customer who comments on the higher prices that I had no choice with the new Obama taxes that just went into place.
Boy, is this going to be inflationary...
Ours rose in Sept. so add that to the 62% tax increase. By the time we’re done this will end up costing us an entire month’s income. Combine that with skyrocketing property taxes that’s now taking 10 weeks income (used to be 2 weeks income), well, we just cr@pped out.
I think its GOOD news. I know your hurting on this one but think about all the others who saying the same. Anytime the paycheck is lower it attracts attention. The most cost effective way of changing things is a hit to the pocket book.
Just waiting for the MSM to herald this “developing story” as the Republicans fault even though you and I know that it is just a return to the normal rate.
Remember, never let a crisis go to waste and when people get these lower net pay paychecks, they will be demanding an explanation and the MSM will feed it to them.
The payroll tax holiday was a temporary measure to give Obama a chance to boast that he had cut taxes on the middle class. It provided a great campaign issue, but was not part of the original Bush tax cuts nor part of the vote to make the Bush tax cuts permanent.
Here’s what will probably happen. People like you will scream bloody murder to their elected officials about SS taxes going up. Most probably didn’t even notice that they went down 2% a couple of years ago, but they sure as heck will notice that they’re going up now.
Obama will ride to the rescue and demand that the payroll tax holiday be reinstated and if Republicans block it, they will again be made to look like Scrooges.
The game continues and people fall right into line after their Pied Piper - Obama.
Just heard what the Dems are going to propose as a “fix”.
They will propose exempting the first $25K of income from FICA taxes, but will eliminate the cap (currently around $112K, I think) to apply it to people making very high incomes.
The result will be low-income people will virtually stop paying FICA taxes, middle income people will see a significant reduction, and those Eeeeeeevil Rich will get soaked like never before. A total shift of the SS burden towards the wealthy.
This “sticker shock” we are seeing this month is part of a deliberate strategy to sell this. The GOP is SOOOOO being played!
There was a note about it in my pay envelope this week. My weekly check is now smaller by $15.
It’s funny how I have to learn to make do with less, but government never has to. (Not funny at all, really.)
Not may noticed the increase of payroll when the 2% was enacted. This is because everyday cost have went up and at the end of the day the checkbook balanced. Now with fuel cost and food price increase everyone will feel the effects.
Yesterday’s pay stub shows a 9.6% decrease in take home pay between the payroll tax hike and raise in employer health insurance premiums. Same coverage as last year. Don’t know how our already tight budget will handle it. People need to look closely at their pay stubs. And remember Obamas promise that our insurance premiums would not go up with Obamacare. Just one in a long list of lies.
See. “Obama” didn’t increase your taxes, just like he promised. It was those mean old Republicans that didn’t continue Obama’s Social Security 2% tax decrease.
I hate to read that.
Minimum wage also rose - a lot in some states.
The stupidity is growing exponentially at this point.
We are paid bi-weekly, so we’ll probably get the notice early next week. Even though I’m pissed, I’m going to enjoy listening to all the libtards whining about it.
Gee, I thought this discount was imperative for working-class Americans... or so the rhetoric went a year ago.
Geez... are you news-starved or what? That’s been talked about on at least FNC for the last week... continuously.
If you don't have twitter you can still read #WhyIsMyPaycheckLessThisWeek at https://twitter.com/search?q=WhyIsMyPaycheckLessThisWeek
I am visiting a friend at work and just overheard the mgr notifying the receptionist that she would see a reduction in her paycheck.
You mean the 44% payroll tax increase?
Don't just listen, bring some salt for their wounds. After all, they must be rich because that's who Obama raised taxes on.
Just wondering if it is warm under the rock where you have been living. It clearly doesnt get newspapers or cable.
The 2% FICA deduction expired. It really wasnt part of the fiscal cliff. It was completely different and had been set to expire long ago.
I always thought it was stupid to reduce payroll taxes that support Social Security, which is gasping for every dollar it can get.
THAT alone, is an indication of how stupid our government is.
@michellemalkin Q: “Why is my nose bleeding?” A: “You just punched yourself in the face.” #IVotedForObama
If “0” had wanted to continue the SS tax holiday (and I’ve seen no evidence he did), he needed to come up with some entitlement reforms to offset the “cost”.
If only it were only 2%. The increase from 4.2% to 6.2% is more than 32%.
Obamabots who have received a paycheck this week have been howling mad about smaller paychecks...we have been using a great response that was posted here a while ago...”Your taxes went up? Guess you weren’t paying your fair share.”
IMHO, the payroll tax holiday was the WORST place to cut taxes,
so, of course, that’s where zero cut taxes.
I don’t know if I’ve got all this right, so maybe someone can help me out.
The payroll tax goes into the general fund, there is no separate Social Security Trust Fund, that’s a fiction.
Consumers got a temporary stimulus from lowered withholding but still owe the same in taxes.
Most Americans live paycheck to paycheck and spend whatever comes in. The stimulus is over and now they will have 2% less to spend, which will impact the economy as 2% more money has just been removed from the economy (rightfully so).
When tax retrun time comes, people will see a smaller return due to less money having been withheld from their taxes last year.
Do I have any of this wrong? Thanks.
Voters in Albuqerque, NM voted to raise Albuquerque minimum wage by $1.00/hour starting January 1. It's now $8.50/hour. Went to a food joint on the 31st of December, all the prices were up accordingly to compensate for this.