My paycheck went down to 50 dollars

[LukeFL]

Less and it was only for few days of 2013. Does this means it will be much less by when I get paid again on Jan 18?

I understand my social security contribution is not a tax but why we ( the working class) must sacrifice all while the higher income earners don't?

Even someone making less than me ( around 20k) will pay more ( around 1.6) than domeone making 400k.

We need cash on hand more. We drive the economy why are we being punished by Obama and the republican congress?

Explain PLEASE!!!

[DJ13]

1. Does Dillards take Dollards?

[LukeFL]

2. You can go ahead and edit the spelling

Errors if you wish but my worries and my question still stand.

[DJ13]

11. Im concerned that you're concerned

There seems an unending supply of people who are concerned, and thats concerning me.

[LukeFL]

19. Good. Maybe we can let president

Obama know of our concerns.

[theKed]

29. It has been noted.

We'll pass it along.

[OldDem2012]

55. Just FYI, but when used as a title, the "P" in President is capitalized to show proper respect....

....and yes, I'm sure the President is aware of the concerns of all Americans who understand that the two-year 2% tax holiday is over, and that full funding to Social Security has been restored. You should be happy about that.

[R. Daneel Olivaw]

13. Um

[WorseBeforeBetter]

3. You're late to the party, Luke.

Limpballs and some goon from the Washington Times beat ya to it.

[LAGC]

4. No, it should be the same next paycheck.

Your taxes went up on the full amount of hours worked for the entire pay period, only since it ended in 2013 is the entirety of it taxed at the higher levels.

So your subsequent paychecks should only be down 50 dollars as well.

We need to fully fund Social Security, the payroll tax holiday was a bad idea to begin with.

(Doesn't mean we can't lift the ceiling and make the rich pay their fair share as well.)

[LukeFL]

10. Thank you. I do understand

sS needs to be funded and I don't mind contributing my share. 50 dollars for me is a lot ( it will be 100 dollars a month) but I understand needs to be done.

I do wish they raise the contribution to the higher earners as well.

Thank you!!

[cstanleytech]

64. Oh it served its purpose, it hid the fact that wages

have been shrinking faster and faster for most people.

[Luminous Animal]

5. My IQ went down 50 dullards after reading this post.

[Cirque du So-What]

20. 50 dullards...

sounds like the daily parade of trolls on a short-ass march from registration to PPR that's been winding its way through DU recently.

[hfojvt]

34. come on, put some effort into it

[Freddie]

6. Taxes go by check date not when you worked

Does not matter what worked time the check covered.

[LukeFL]

12. Thank you another DUer just explained

That.

[Tx4obama]

7. The deduction was for the whole paycheck, even for days worked in 2012

not only for the days in the check for 2013.

It's based on when the check is given (year 2013), not based on when the days were worked.

So, if you just now got a full paycheck then the deductions should be the same amount in your next check if you work the same days/hours.

[LukeFL]

15. Thank you tX4Obama

[Hestia]

22. Evidently those who haven't run payroll understand that yes, there are different fiscal

pay amounts in one pay period. If you look, it will show the dates of the payroll period, then if your company is big enough, will show two different FICA amounts on the deductions.

Check date makes no difference - it the dates/year the wages were earned. Hopefully all software has been updated to reflect the proper deduction amount for FICA.

[bluestateguy]

8. I'm done explaining this to people who weren't paying attention for the last 2 years

nt

[LukeFL]

16. Sorry I came late to the party..

And that you are tired of explaining. Thank God others did.

[Angry Dragon]

9. Tell your bosses that you want to be the 1%

[Selatius]

14. The Social Security tax holiday expired. You are simply paying the full rate on FICA taxes now. nt

[Bake]

54. The rate is whatever Congress says it is.

It could be 6% or 4%. There's nothing magic in the number. I'm pissed that it went back up, since that hits the middle class right in the paycheck. It's an "anti-stimulus."

And please don't call it an insurance premium. It's a tax, plain and simple.

Bake

[Selatius]

71. FICA = Federal Insurance Contributions Act. It's in the name and has been named as such for 70 years

It's been 6.2% for decades now until the tax holiday.

If you don't want a Social Security check at 65, then you would continually extend the tax holiday of 4.2% instead of 6.2% because the last 2% came from the General Fund that Congress controls.

Republicans would therefore have a valid argument in saying that Social Security drives up the deficits under the General Fund, and Republicans like to cut deficit drivers.

[JaneyVee]

17. Republicans ended the payroll tax break in the fiscal cliff deal.

[Luminous Animal]

23. Un no. It was a temporary break and its extension was NOT on either the Dems or Reps table.

[bluestateguy]

28. Indeed

Obama's first offer actually called for a 1 year extension of this holiday (which was intended to only be for one year). But Bayner rejected the whole thing, and the holiday was dropped in Obama's 2nd offer.

[JaneyVee]

65. Yep. More GOP hostage taking.

[okaawhatever]

18. It also may be that since they didn't have a budget eoy 2012, the IRS published withholding tables

on what they "thought" was going to happen. From what I understand it was about half-way between worst case scenario and best case scenario. They sent revised withholding tables on Jan 3rd in Notice 1036 IR-2013-1. What that means is they may have taken out more in taxes than was necessary. Problem is, you won't get that money back until you file your tax return. The ONLY change in your taxes assuming income of under 200k is the 2%. If you make 20k per year, and you are paid every two weeks, your paycheck will go down by about $15.38. Hope that helps.

[FLyellowdog]

21. Why did you find it necessary to denigrate President Obama about this?

I'm worried that you don't understand how the Social Security system works. Or understand that Presdient Obama should be addressed by his official title.

[yardwork]

24. President Obama wanted to continue the tax holiday. It was the Republicans who insisted on this.

If you want to blame somebody, blame the Republicans in Congress. They insisted on ending the tax holiday and they refused to remove the cap.

It is wrong for the working class to sacrifice while the higher income earners don't. Blame the Republicans.

[TheProgressive]

25. I have heard this before...

Is there a citation/proof for this?

[Recursion]

31. Seriously?

Read, oh I don't know, any story about the fiscal cliff negotiations?

[TheProgressive]

32. So, ok, what (credible) news story states the payroll tax negations.

Thanks so much for the link you will provide...!

[okaawhatever]

37. Your reply: Thank you for the link you WILL provide is extremely rude. CNNMoney Dec 31 2012 n/t

[JaneyVee]

66. Here's one:

http://www.businessinsider.com/gop-may-block-payroll-tax-cut-extension-that-obama-claims-would-save-up-to-1-million-jobs-2011-8

[TheProgressive]

70. So you do know that this article is from 2011...

[Honeycombe8]

26. Everyone earning a wage/salary pays Social Security, same as you....

unless they are exempt from SS and can't draw benefits (govt workers, for example).

Someone earning $400k in a salary pays SS up to the salary cap (around $105,000 or something). The reason there's a cap is because of the cap on benefits.

You pay into Social Security for the deal that you may possibly get your money back, but maybe more, and maybe less. But there's a cap on the Social Security benefit. So there's a cap on the salary, since such a person has no chance in hell of ever getting that money back; it becomes just another tax at that point. It's not part of a Social Security deal at all.

The payroll rate went up to the normal rate. If you want to receive your normal SS benefit, you can expect to pay the normal rate into it. Otherwise, SS would be in trouble financially. And you know what that means. Even though it's okay financially right now, Republicans have been persistently claiming it's about to bankrupt the country and should be significantly reduced or reformed. They'd have a more valid argument if SS did in fact become insolvent (and it supposedly will be in a couple of decades).

It's hard to pay more after we've been paying less, but at least we'll have a chance of getting it back in benefits.

[obama2terms]

27. You used to pay this rate

The rate went from 6.2 to 4.2. It was a payroll tax holiday so it wasn't meant to last forever. So prior to 2010 you have always paid 6.2%. We are simply going back to normal, it's nothing new. I do agree though higher income earners need to pay their fair share. But if you want SS and Medicare you have to put money towards it, it's a lot of money but that's the way it is.

[Recursion]

30. $50 for a two week pay period would put you at $75K, not $20K

talk to HR, they may be withholding wrong.

[Hekate]

33. Jeez DUers, I thought this post was a spoof!

I guess I was wrong.

[doc03]

35. Well if you are losing 100 dollards per month that means you

are grossing 5000 dollards a month, that is 60000 dollards a year not 20000. You will get it back when you retire, become disabled, if you would pass away your wife and kids would get benifits. That's a pretty good deal I think. My dad retired at 62 and lived to 77 he got SS for 15 years my mother continued getting SS benifits for another 22 years until she passed away. That's not bad between the two of them they got SS for 37 years.

[Lint Head]

36. Dollard Parton makes more than that writing songs.

[leftstreet]

38. Plus her income from Dollardwood n/t

[tavernier]

40. If you squeeze those sour grapes

you can make a pretty dandy whine.

[nc4bo]

48. Teabagg'in their way right on down the rabbit hole.

They will be the same jackasses who will whine like babies when they hit 65 and fixin' to collect their guv'mint check every month then whine again for their Medicare card.

Typical turd du jour!

[snooper2]

42. Hannity is that you!

[nc4bo]

50. Straight out the horses' ass and then some, sounds like. nm

[tkmorris]

51. Seriously?

[Viking12]

61. If your employer is paying 51% effective tax rate,

he's a fucking idiot.

How do you like your pizza?

[LiberalFighter]

43. Only if you make less or your local govts tax you more.

[LiberalFighter]

44. If Obama and the Democrats hadn't stood fast against the Teabaggers

on the Republican side since Boehner has no control of his Republicans your taxes would had been higher. The income tax portion.

[former9thward]

45. The Social Security 'contribution' is a tax.

From Title 26, Section 3101 of the U.S. Code:

(a) Old-age, survivors, and disability insurance
In addition to other taxes, there is hereby imposed on the income of every individual a tax equal to the following percentages of the wages (as defined in section 3121 (a)) received by him with respect to employment (as defined in section 3121 (b))—

In cases of wages received during: The rate shall be:
1984, 1985, 1986, or 1987 5.7 percent
1988 or 1989 6.06 percent
1990 or thereafter 6.2 percent

[Jennicut]

46. Do we really need to keep explaining this?

If you are on DU I presume you are fairly intelligent. Tax "holiday" mean anything to you?

[Tsiyu]

47. Honest to FSM, I am stumped by these type posts

Did none of you people ever notice the RAISE in pay you got from the ss holiday? Where were you when you did't have to pay into SS for a while? You certainly weren't on DU thanking the President for giving you more take home pay back then.

Now that you have to fund your social security again, you're SHOCKED?

What the hell?

You should have been calling your Republican greedy ass congresspeople if you wanted the rich to pay more. It's the Republicans, and not Obama, who fight to protect the very wealthy.

Obama did what he could. It's up to YOU and ME and everyone BITCHING about their "new deductions" to make Congress care.

If you didn't, you're part of the clueless masses who apparently just figured out this whole payroll holiday thing this morning. I don't get people who are this stumped about their own paychecks.


Jayzuss.....it's amazing.... the people who DO have jobs in this economy don't seem very bright.

[99Forever]

49. Who do you think you are fooling?

Your words:

"Even someone making less than me ( around 20k) will pay more ( around 1.6) than domeone making 400k."

A wage earner making $20,000 a year will see (round numbers) $7 a week deduction increase. Assuming you get paid bi-weekly, that means $14 against your $50. Which means your earnings are in the $70,000 range.

My freakin' heart bleeds for you.


ps: Just so you know, those pricks you are carrying water for on this thread, don't pay a penny on their income above $113,700. You do realize that they are laughing at people like you, don't you?

[Atman]

52. Your paycheck was only $50?

"My paycheck went down to 50 dollars"

Where the hell do you work, as splooge mopper at the porno peep show booths?

If you're only making $50 a week, you're taxes wouldn't cover a 12 pack of Natty Light.



Oh, I love you rightie trolls! So transparent!

[RebelOne]

53. I am not paying into Social Security any more.

I am now receiving Social Security. And I am glad I paid into it for the last 50-some years. And you all will too when you retire and do not have a large amount of cash in the bank.

[BeyondGeography]

56. You think that's bad

My paycheck went down to 50 cents.

[Ganja Ninja]

57. Social Security- pay your taxes and quit whining. n/t

[Iggo]

58. Republicans are idiots and assholes.

You're welcome.

[patrice]

59. Money is a cruel PRIVATE joke. Will you ever make enough? I hope you are working for,

or at least following, issues like HR 676 Expanded and Improved Medicare for All, linked on the front page here: http://www.pnhp.org/ and the evolution of more co - operative business models that are developing amongst some demographics usually associated with what is called "youth culture" in its more career/professional orientations.

If you understand the latest cycle in what has happened to the US economy, which we experience in the financial crises of '08, perhaps you also understand that the time has come for individual persons to consider re-defining the word "value". The value of money is arbitrary and completely controlled by a private banking cartel known as The Federal Reserve (which is NOT in the Constitution, btw).

[aintitfunny]

60. If your paycheck dropped by $50

and it was fully due to the return of Social Security to pre-stimulus times then your gross pay (pre-tax) was $2,500.00

If that is not correct there may well be a rise in Health Insurance or other non-tax related deductions or someone made an error.

[Th1onein]

62. IS THAT YOU AGAIN, RUSH?

Trying to drum up some material for tomorrow's show?

[Tikki]

67. Has rushbo told us yet how much his paycheck went down?

If not, someone should ask.


Tikki

[Atman]

69. Rush paycheck is down to two bottles of Oxy a week!

And he can only afford half his regular quota of Dominican Republican schoolboys. Poor Rush!

[Atman]

63. READ THE OP's HEADLINE AGAIN...

"My paycheck went down to 50 dollars"

He didn't say it went down 50 dollars, he said it was reduced TO 50 dollars. Clearly he's working for Rush. Who else could justify paying his employees so little?

[JoePhilly]

68. Bless your heart.

This is only the 20th or so post by one who seems to not know what the payroll tax holiday was, or who gave it to them in the first place.