Obama and those on both sides of the aisle want to extend the tax break( it is not a tax break, it is an entitlement reduction). Here is what Whitehouse.gov sent to me today and Obama is saying the same thing:
"If Congress fails to extend the payroll tax cut, the typical family making $50,000 a year will have about $40 less to spend or save with each paycheck. Over the year, that adds up to about $1,000."
Ok First it is true that a person making $50,000 will save $1000 per year or about 18 dollars a week before taxes, not $40 as they are telling you. If you are the average as they claim, you are around $30,000 meaning you will save $600 before taxes or around $11 per week. One would have to be making $120,000 to see $40 per paycheck and that is not the average American.
Why can't the Whitehouse not be honest over such a simple issue? Do they think we cannot do the math? To make it more fun, CNN has said the $40 story several times today. I guess they did not do well in math either
The government pays twice monthly; $40 per check is $1040 per year. I would guess that there are very few making $120,000 that are also paid weekly.
$11 per month, as you indicate, is $132 per year, not $600.
I cannot answer what most jobs do, but I worked for 2 different companies that I was paid weekly for a salary in that range. $11 is per week, not month.
Realize your mistake and edited your OP? Your OP originally said per month.
Yes I fixed the mistake that wilderness pointed out. Sometimes we type faster than we read LOL
I understand that, which is why I pointed it out, due to the fact that I read your OP when you posted it initially.
And, your post to Wilderness had no apology in it, considering it was your mistake which distorted things, and led Wilderness to come up with something different than what you did.
When you posted to Wilderness, you corrected your mistake before you hit reply to his post, but didn't own up to the error.
And, again, I'm just pointing it out. So, don't get upset about it.
I do not get upset over this stuff, not to worry
I did not realize though, that this was a apology event. In good faith, Wilderness I am sorry if I offended you in any way with my mistake.
When I responded to Wilderness and "hit the reply button" I had left the thread. It was not till I came back later to read another post here that I realized the mistake, my typo, and made the correction. So there was not a distortion or an attempt at one. When I posted to Wild, I was not critical or attack him, I just respectfully said week not moth for I thought he just made a mistake, we all do. There was nothing behind what I wrote, no belittling comment or I was not looking to criticize him.
Here on HP people get criticized for all reasons, they make a mistake, they fix the mistake, their opinions, their sources, their ideals, their party affiliation or assumptions about their party affiliations, their spelling, their grammar, where they live and a whole lot more. So much for being tolerant understanding people. Perhaps there is a reason for it, like when they were in school they were corrected a lot so they want correcting revenge LOL Anyway, feel free to point out ways to correct me, it does not bother me.
What's with the 'Entitlement" classification? The cut came from our social security tax. Yes tax, meaning we pay into it. Either we are going to get it back, like a 401 k or it's a tax witch means it goes into that US government black hole which also goes to tax breaks for billionaires, corporations, foriegn aid and for yeah we know tax breaks for all of those "Job Creators" just waiting to make a job for us when the conditions are right.
Just curious, what withholding or any other tax have you paid that paid you back? Are your 401K payments a tax? Or are they a retirement program?
Personally, I am for the 2% cut they want to make, but it should come out of whithholdings, not Fica. Because of the 2% cut from this year, SS fund is smaller and the general fund made those payments of course raising the national debt at a faster pace. And those were made with the extension money they borrowed from China, A triple loss or should we say 3 strikes and you are out. At least taking it from just the withholding will not worsen SS trust fund any more than it is.
"Many Americans are surprised to learn that billions of dollars are taken out of Social Security each year in a congressional raid that funds
everything under the sun "
Please supply a link backing up your statement or are you making up facts as you go along like Fox news?
If the government is going to reneg on what it is supposed to pay it's citizens why can't it reneg on paying interest to the fed for creating money out of thin air?
Who stated that this is coming from a general fund and that now we owe China more because of this.With the fed play money printing and the banks lying on how much in play money derivatives they created,saying we owe "X" is now irrelevant. Maybe we should get the money these corporations owe us anyway.
http://blogs.suntimes.com/sweet/2011/03 … oidin.html
"Many Americans are surprised to learn that billions of dollars are taken out of Social Security each year in a congressional raid that funds everything under the sun "
"Please supply a link backing up your statement or are you making up facts as you go along like Fox news?"
I would like for you to please show where that statement is in this thread. Can you find it, I do not see it. So who is making things Up?
Here is one statement from a SS administrator showing as I said the money came from the general fund and contributed to raising the national debt
"The Social Security system's finances are not expected to be harmed because the trust fund will be reimbursed for the full amount of the tax break from the general fund of the Treasury. However, this change also means that the Social Security trust fund will no longer be completely funded directly by citizen contributions. "This pretty much ends the claim that Social Security is self-financing or that it doesn't contribute to the budget deficit," says Andrew Biggs, a resident scholar at the American Enterprise Institute and a former deputy commissioner of the Social Security Administration."
Here is another and it provides a picture of the SS trust fund data showing the general fund paid SS each month, draining money from the general fund adds to the national debt. When you are at the article click on the report he posts and it will enlarge for easier reading. Note the bottom left column under other income for each month in 2011. that is the money transferred from the general fund to make up for the loss.
http://brucekrasting.blogspot.com/2011/ … -year.html
Where does the money the government is supplying come from to pay the bills our revenues fall short on? The loans from China. Where do you think the money comes from when congress approved extending our debt limit? It came from China in a loan. And we are spending that extension like water because of shortfalls like this.The result of which will be we will the President will be asking for another raising of the debt limit sooner than expected due to the accelerated depletion.
As for collecting taxes from those who do not pay, I could not agree more.
I must admit, I had my rebuttal all type up and I deleted it. Here's why', We are all getting LIED to. Just deal with it, accept it and move on. Read articles from around the world not just the lazy Main stream UP propaganda and you will see it. We are getting looted from the top down. We all spin one statement one way another spins it another way or spews out their political parties agenda. I enjoy the mental sparring but it seems pointless right now, it's time for peace during the holidays. I know I can count on my government to do one thing and they have been doing a great job so far. Destroy this Once great country and screw everyone that actually works for a living.
Merry Christmas !
You know, since I started here on HP we have had some interesting discussions, we disagree most of the time and agreed sometimes. I have stayed away form the forums recently because it seemd to be getting very toxic from some of the other Hubbers and I was not interested in that. We have been tough on each othe ron a few topics during our chats but I respect the passion you bring to them. I look forward to more in the future.
Having said that, I totaly 100% agree with your last post, you nailed, and I feel the same way.
I want to wish you and your family a very safe and Merry Christmas.
THe classification as you call it is that is what SS is, an entitlement program.
I guess you're right, I paid into it for 32 years I'm "Entitled" to get something back. The way it was designed to do.
At this point, any American will take whatever tax break they can get. They juggle with all the budgets and they've been taking from Peter to pay Paul for years.
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