How Do You Like Your Smaller Paycheck?
Folks who don't love higher taxes to pay for higher government spending are getting a kick out of this Democratic Underground thread that begins by asking:
What happened that my SS withholdings in my paycheck just went up?
My paycheck just went down by an amount that I don't feel comfortable with. I guarantee this decrease will hurt me more than the increase in income taxes will hurt those making over $400,000.
Among the comments are:
I really can't handle the decrease right now. It's not like I am rolling in the money. Really felt like my taxes went up when I opened my paycheck and it was smaller.
Paycheck was smaller? Why, it's almost like everyone's taxes went up and the media forgot to mention it, so busy were they with political horserace coverage.
Of course, not everyone's taxes went up. Nearly all the national political reporters forgot to dig into this but the editorial page of the Wall Street Journal notes that the fiscal cliff bill is a crony capitalist blowout:
In praising Congress's huge new tax increase, President Obama said Tuesday that "millionaires and billionaires" will finally "pay their fair share." That is, unless you are a Nascar track owner, a wind-energy company or the owners of StarKist Tuna, among many others who managed to get their taxes reduced in Congress's New Year celebration. ...
But a special award goes to Chris Dodd, the former Senator who now roams Gucci Gulch lobbying for Hollywood's movie studios. The Senate summary of his tax victory is worth quoting in full: "The bill extends for two years, through 2013, the provision that allows film and television producers to expense the first $15 million of production costs incurred in the United States ($20 million if the costs are incurred in economically depressed areas in the United States)."
You gotta love that "depressed areas" bit. The impoverished impresarios of Brentwood get an extra writeoff if they take their film crews into, say, deepest Flatbush. Is that because they have to pay extra to the caterers from Dean & DeLuca to make the trip? It sure can't be because they hire the jobless locals for the production crew. Those are union jobs, mate, and don't you forget it.
And all that is before we get to "the green-energy giveaways that are also quickly becoming entitlements."
But back to the paychecks. Today, many Americans will open up their paychecks and see that their grocery budgets are a bit smaller.
It might not make a big deal now, but after taxes get raised a couple more times this year the next times we run up against the debt ceiling, I wonder if people will wonder whether spending cuts seem more attractive. Or am I dreaming?
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Comments:
Nov '11
Re: How Do You Like Your Smaller Paycheck?
Thank Mollie, everyone. She reads DU so that you don't have to.
Thank you, Mollie.
Dec '10
Re: How Do You Like Your Smaller Paycheck?
You're dreaming. As a crane mechanic told me yesterday, those aren't really taxes going up because I'll get that money back when I'm on social security.
Jan '11
Re: How Do You Like Your Smaller Paycheck?
You mean, elections have consequences?
Wow. Who knew?
Mar '11
Re: How Do You Like Your Smaller Paycheck?
I am out around $220.00 a month between payroll tax change and increase in insurance premiums. Our health care premiums went up something like 12%. However, historically, my employer has picked up 75% of the premium. This time they only picked up 25% of this increase, leaving me to foot 75% of the 12% increase.
Mar '11
Re: How Do You Like Your Smaller Paycheck?
I heard it was all the Republicans fault......
Nov '10
Re: How Do You Like Your Smaller Paycheck?
If I hear "elections have consequences" one more time...
Sep '11
Re: How Do You Like Your Smaller Paycheck?
I've decided to respond to all posts of optimism on Ricochet by quoting things I hear democrat friends say, and inserting the name of the person who made the post.
"I'm sure the government knows what they are doing Mollie."
Edited on January 4, 2013 at 4:15pmSep '10
Re: How Do You Like Your Smaller Paycheck?
Mollie Hemingway, Ed.:
Of course, not everyone's taxes went up. Nearly all the national political reporters forgot to dig into this
You being a journalist ( excuse my derogatory cauterization) might believe this, but I would almost certainly attribute the usual inept coverage to laziness and/or a desire to carry water for the parasites hosts. Journalists on the right provide cover for the establishment Republicans and on the left for the Democrats and are amply rewarded for doing so.
The political establishment in DC and the national parasitic press are all members of the same club and your assertion that "reporters forgot" makes me think that you are a member in good standing.
Dec '10
Re: How Do You Like Your Smaller Paycheck?
My question is how much of the "revenue" supposedly raised by this bill comes from the higher taxes on the "wealthy" and how much of it is the increase in OASDI?
Sep '10
Re: How Do You Like Your Smaller Paycheck?
I blame Bush: Moses's Burning Bush.
Sep '10
Re: How Do You Like Your Smaller Paycheck?
Yeah, it's just like a 401K . . . managed by Bernie Madoff.
Sep '10
Re: How Do You Like Your Smaller Paycheck?
Designed by fools: run by idiots. Over the cliff or up the creek? Either way, keep paddling, its a short way to $20 Trillion.
Jul '11
Re: How Do You Like Your Smaller Paycheck?
hahahahahahaha!
Apr '11
Re: How Do You Like Your Smaller Paycheck?
My pay is minus $64 this month and I was going to buy a muffler with that money.
Sep '10
Re: How Do You Like Your Smaller Paycheck?
I haven't done the math but I would think in percentage terms someone earning $600K will have a smaller percentage increase than someone earning $60K. That said the SS tax never should have been reduced, but both parties embraced the idea.
Both parties have consistently supported big government and neither party seems willing to shrink it. I have no hope the Democrats will change and as long as the Republican Party's lackeys in the press refuse to hold them accountable they won't either.
Feb '12
Re: How Do You Like Your Smaller Paycheck?
@liberaljim, your point about some press giving cover to the GOP as others give it to Democrats is well-taken. But I interpreted your quotation from Mollie's post as sarcasm, far from a defense of anyone's reporting.
Re: How Do You Like Your Smaller Paycheck?
Frank Soto: I've decided to respond to all posts of optimism on Ricochet by quoting things I hear democrat friends say, and inserting the name of the person who made the post.
"I'm sure the government knows what they are doing Mollie." · 47 minutes ago
Edited 45 minutes ago
Brilliant.
Re: How Do You Like Your Smaller Paycheck?
liberal jim
Mollie Hemingway, Ed.:
Of course, not everyone's taxes went up. Nearly all the national political reporters forgot to dig into this
The political establishment in DC and the national parasitic press are all members of the same club and your assertion that "reporters forgot" makes me think that you are a member in good standing. · 54 minutes ago
You know me well, @liberaljim. Almost too well.
Dec '12
Re: How Do You Like Your Smaller Paycheck?
I saw reports of the return to the higher FICA rates in the mainstream press. Of course it wasn't highlighted in the President's remarks, but then the Republicans didn't attack it either. It would have been a smart move for the Republicans to move to make the lower rates permanent, as FICA is basically a tax on employment, and we need more of that, not less.
I think a major problem is that like the crane operator, most people don't understand how Social Security works; they are still believers in the "lock box." When I've mentioned to liberal friends that Social Security benefits can be changed entirely at the whim of Congress, they are incredulous, even though they have lived through several such changes in benefit levels, tax status, cost of living, etc.
Before attacking Social Security, Tea Partiers should take some time to inform the public of the true nature of the program.
Edited on January 4, 2013 at 5:26pmSep '10
Re: How Do You Like Your Smaller Paycheck?
It sounds like the beginning of a Democrat tax revolt. I can see the letter writing campaign that will follow:
Dear Congressman,
When I said you should raise taxes I thought it was assumed that I meant other people's taxes. Please correct this matter ASAP as higher taxes mean less money to buy stuff, and I like buying stuff.
Sincerely,
Disappointed Taxpayer
PS. The data plan on my Obamaphone is 3G, which is clearly one G less than what I need. Please upgrade.