?

Log in

No account? Create an account

Previous Entry | Next Entry

We're all cliffed anyway

title or description
Image from Mother Jones magazine

The New York Times reports the Senate-approved plan to avoid the budget abyss will mean less than 1 percent of Americans will pay higher income taxes next year. Those are people who make at least a half-million dollars a year.

Don't forget, though, that payroll taxes for Social Security are going to increase next year to the level they were at three years ago — from 4.2 percent in 2012 back to 6.2 percent. At FOXNews, Bamini Chakraborty reports, "For households earning $50,000, they will have to pay $1,000 more in taxes in 2013."

So, the money the government won't take out of your wallet in financial canyon-related taxes will be taken from your wallet anyway. It's the difference between getting whupped with a 2-by-4 upside the head once, as opposed to getting whupped once. There's still a world of hurt goin' on.

Comments

( 5 comments — Leave a comment )
anita_margarita
Jan. 2nd, 2013 05:47 am (UTC)
I guess I can be grateful, then, that my income dropped dramatically when I retired.
patrick_vecchio
Jan. 2nd, 2013 03:04 pm (UTC)
I hope that's true.
nodressrehersal
Jan. 3rd, 2013 04:01 am (UTC)
I don't know why they ever did that temporary thing with FICA to begin with. 7.65% (6.2% + 1.45%) is what it had been since something like 1990. We were used to it, they should've just left it alone.
patrick_vecchio
Jan. 3rd, 2013 05:06 am (UTC)
Why is it that temporary tax breaks always wind up being temporary but temporary tax increases always become permanent?
nodressrehersal
Jan. 3rd, 2013 09:40 pm (UTC)
Ha! How true that is! But seriously, for all the fear they instill about the longevity and sustainability of Social Security, why ever did they use that platform to give us a tax break?
( 5 comments — Leave a comment )

Latest Month

March 2017
S M T W T F S
   1234
567891011
12131415161718
19202122232425
262728293031 

Wish I'd Said It

Nota bene: “Fear has governed my life, if I think about it. ... I always feel like I’m not good enough for some reason. I wish that wasn’t the case, but left to my own devices, that voice starts speaking up.” – Trent Reznor

“I hate to say this, but not many people care what you do. They care about what you do as much as you care about what they do. Think about it. Just exactly that much. You are not the center of the universe.” — Laurie Anderson

"The path's not yours till you've gone it alone a time." – William Carlos Williams

“Filling this empty space constitutes my identity.” – Twyla Tharp

"My definition of peace is having no noise in my head." – Eric Clapton

"The wreckage of the sky serves to confirm us in delicious error." – John Ashbery

"We are all here by the grace of the big bang. We are all literally the stuff of the stars." – Dwight Owsley

"For my part, I know nothing with any certainty, but the sight of stars makes me dream." – Vincent van Gogh

"It is only with the heart that one can see right; what is essential is invisible to the eye." — Antoine de Saint-Exupéry

"Forget about being a perfectionist, because entropy always wins out in the end." – Darren Kaufman.

"Impermanence. Impermanence. Impermanence." – Garry Shandling

"Fame is a vapor; popularity an accident; the only earthly certainty is oblivion." – Mark Twain

"There is no realm wherein we have the truth." – Gordon Lish

"Actual life is full of false clues and sign-posts that lead nowhere." – E.M. Forster

“Some scientists claim that hydrogen, because it is so plentiful, is the basic building block of the universe. I dispute that. I say there is more stupidity than hydrogen, and that is the basic building block of the universe." – Frank Zappa

“I try to leave out the parts that readers tend to skip.” – Elmore Leonard

“The secret of being a bore is to tell everything.” – Voltaire

• Journal title and subtitle: Ian Hunter, “Man Overboard”

Tags

Powered by LiveJournal.com
Designed by Tiffany Chow