Whoa.....what?
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Anonymous
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I just got my 1st paycheck deposited for the new year. I knew the tax thing was coming, but holy crap! It's about 3x as bad as I projected it to be.
Single mom, making about 60,000 a year. I get two paychecks a month. I was thinking the difference after the new tax increase would be about $45-50 per pay period. It was $108. Times two pay periods. I am now down about $220 a month. Wow. |
Anonymous
| If you're making $60,000, you didn't get a tax increase. It's the return of the payroll tax deduction, that has only been suspended for a few years. |
Anonymous
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I bet a good chunk of that is something else like health insurance.
Your payroll tax increase is $1,200 on the year, so $100 per month, or $50 a check. The deductions are coming from something else: Health premiums, 401k contributions, a bigger contribution to a flexible spending account. |
Anonymous
It's 2 percentage points of income, and while you are technically correct that it was suspended for two years, the fact is that human beings don't think like that and adjust to their incomes. It's also a fact that it's the first tax increase on Americans in 20 years, and for many in the workforce, the first they've ever encountered. |
Anonymous
r u sure your health insurance and/or other benefits did not increase also? the SS tax is only and additioanl 2% out of your paycheck. |
Anonymous
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And it's not a tax increase, PP. It's reinstatement of taxes that were suspended as a gift from President Obama.
Say thank you. |
Anonymous
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My paycheck (weekly) only went down $10.
#brokepeopleproblems |
Anonymous
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This is technically not a tax increase, please stop saying that it is.
OP - talk to your HR about this. My DH noticed that in addition to his SS withholding increasing, his Federal withholding also increased, we're not sure why, need to ask HR. |