U.S. Fiscal Cliff

**Esvedium** · 2013-01-04 09:14

Originally Posted by kuronosan

I'm still struggling as to how Reagan was such a great president.

Newsflash, he wasn't.

**Coren** · 2013-01-04 10:00

Originally Posted by kuronosan

Seems like everyone just ignores that graph every time it's posted and, in turn, claims it's justifiable because those people earning 300% of the median salary somehow work teeth and bones harder than the people that actually keep the company going.

It really is because the corporate mentality has turned from "our workers make our company work" into "our company allows our workers to work".

You need the newer graph that shows the 1% line spiking back up substantially.

Additionally, I was interested to find out that income groups pay a percentage of total federal tax revenue that is extremely close to the percentage of total income they take in. For instance, republicans bitch that you can't tax "the rich" any more or they'll go broke. But it turns out that the top 20% of taxpayers pay ~63% of taxes while taking home ~60% of the income made each year. The top 1% pay around 21% while taking home 21%. The share of taxes paid by the bottom 20% is ~2% while they bring in 3.4% of the total income. So the next time your annoying republican relative/friend tells you that the rich pay a disproportionate share of taxes and shouldn't be asked to pay more, and that 47% pay nothing, remind him of all of this.
http://ctj.org/ctjreports/2012/04/wh...in_america.php

Also remind him that of that 47%, 30% pay payroll taxes (not insignificant when you only make 25k/yr). The other 17% comprises 10% seniors that have so little money they can barely afford food, and 7% are the homeless and otherwise destitute that can't get jobs because they have no home, no transportation, no clothes, etc.

http://www.dailyfinance.com/2012/09/...hotoID-5305583
http://www.taxpolicycenter.org/taxto...3-06-17-11.gif

**Dantrag** · 2013-01-04 10:00

First pay stub: -$61.58.

So -$1601.08/yr

**tyven** · 2013-01-04 10:19

61.58 more than usual or 61.58 total? your social security is only 2% more, I would say if 2% of your pay is 61.58, you are doing fine.

**Dantrag** · 2013-01-04 10:28

61.58 less on my paycheck from 2 weeks ago.

**archibaldcrane** · 2013-01-04 10:36

Originally Posted by Dantrag

61.58 less on my paycheck from 2 weeks ago.

Usually the first few paychecks of a year vary a bit (in my experience) before they settle into the amount they will be for the entire year. But yeah, welcome to the bush era tax rates.

**Dantrag** · 2013-01-04 10:39

Originally Posted by archibaldcrane

Usually the first few paychecks of a year vary a bit (in my experience) before they settle into the amount they will be for the entire year. But yeah, welcome to the bush era tax rates.

Think it has to do with the tax holiday being over. SS taxes went up. /shrug. Sucks but will move on.

**Ragnus** · 2013-01-04 10:49

I noticed my SS tax go up by about $15 a week but my Federal rate didn't go up at all.

**Salodin** · 2013-01-04 11:27

Come time to file my w2, is there any thing to off set the increase in taxes taken out? I'm always surprised every year when I go to file and I'm told "oh hey theres this new deduction, go ahead and keep another 400 bucks".

**Dotsudoku** · 2013-01-04 11:32

Originally Posted by archibaldcrane

Usually the first few paychecks of a year vary a bit (in my experience) before they settle into the amount they will be for the entire year. But yeah, welcome to the bush era tax rates.

Could be confusing terminology here: are "Bush tax cuts" and "Bush era tax rates" referring to two different things?

**Dantrag** · 2013-01-04 11:33

Bush tax cuts are still in place. The Tax holiday(SS tax rate reduction of 2%) is now gone.

**Dotsudoku** · 2013-01-04 11:33

Double

**Talint** · 2013-01-04 11:37

This is the pork that the republicans had issues with and why they couldn't bring a bill to vote.

2.5b~3b in "pork" (some of these aren't pork, I'd argue) with a 60b relief bill.

In other words, get the fuck out, partisan hacks.

**Kuya** · 2013-01-04 11:42

By pork, do you mean money that representatives bring to their districts or states?

**tyven** · 2013-01-04 11:57

Originally Posted by Dantrag

61.58 less on my paycheck from 2 weeks ago.

SOUNDS TO ME LIKE SOMEONE MAKES 6 FIGURES. tho losing 120+ odd dollars a month is def a blower.

**Ragnus** · 2013-01-04 12:03

I make 38k pre-taxes and I'm losing out on $60 a month. He could be making only about double what I do if he gets paid bimonthly.

**tyven** · 2013-01-04 12:05

MY MATH HAS FAILED ME AGAIN

**Kuya** · 2013-01-04 12:09

I don't think i can love a man who can't math good

**Acevalefor** · 2013-01-04 12:09

Originally Posted by Ragnus

I make 38k pre-taxes and I'm losing out on $60 a month. He could be making only about double what I do if he gets paid bimonthly.

I make 40K/yr pre-tax and am getting just under $90/mo additional taxes taken out. SS went up and payroll tax went up. Doesn't sound like much, but that's 1 week per month that I don't have gas to get to and from work if it stays like that.

**Dantrag** · 2013-01-04 12:14

Originally Posted by Ragnus

I make 38k pre-taxes and I'm losing out on $60 a month. He could be making only about double what I do if he gets paid bimonthly.

Pretty much double pre-tax with 401k(since it's taken out pre-tax).

Originally Posted by tyven

SOUNDS TO ME LIKE SOMEONE MAKES 6 FIGURES. tho losing 120+ odd dollars a month is def a blower.

iWISH.

edit: had to lowercase the I.

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