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Ouch!!! The tax increase sucks

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xanis said:
I pay city wage tax for Philly even though I live outside out of the city limits, which kind of sucks. I'm trying to get an apartment closer to work (so I don't spend ~15 hours per week commuting) and it only gets higher for residents. :\
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Yeah it blows I'm literally 25-30 min outside the city and I work in kop so the commute sucks. Apartments near work are about 1100 for a 1 bedroom minus utilities. With all my bills I can't move near work. Or if I did I would not find an apartment matching what I have now.
 
After all is said and done, I got just about $80 more on my two week paycheck than I did before. So I guess I can't complain, at least it didn't stay the same after a raise.
 
It's interesting that the most regressive tax of the lot was the one that increased. Should've left it at 4.2% and removed the $113K cap.
 
iamwiz82 said:
This is what I did to recoup a bit. This past year I had claimed 0 due to a tax situation but that is clear for 2013. Phew. Claiming 2 now and it's about even.
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Hell, my exemptions are up to 8 and I still get over $5,000 back. However, half of that is because my wife is going to school. Plus over 10% of my income is bonuses which gets taxed automatically at 25%.

This year I get about $30k in stock grants and will have to pay in several thousand so I'm OK with the little extra taken out up front to offset that in case I want to wait on selling the stock.
 
DAMN YOU OBAMA

It's his fault right? Or is this one Bush's fault?

Reagan's?

I have no idea if my paycheck changed. I save most of it anyway.
 
Well, at least this won't hit me until next April. I always deduct nothing from my pay and then pay what I owe when it's due. I guess it's going to hurt especially bad this time.
 
skimple said:
Misleading chart. The GDP for those countries is a fraction of the GDP for the US.
http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)

Your assumption is that taxes should be based on the GDP of the country.

If you look at tax rates by income, you see that the US has the second highest corporate tax rates in the world, second only to Japan:

http://en.wikipedia.org/wiki/File:Income_Taxes_By_Country.svg

US: 27% tax on a $15T GDP is $4.2T
Sweden: 49% tax on $384B is $188B
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The problem with the skimple contention is that its not simple as that. As the problem with US corporate tax rates is the in details, with far far far too many deductions to off set income. As huge and profitable US corporations like GE pay zero US taxes. As I recall then US tax code is 43,600 pages, and most of those pages is one corporate tax loophole after
another in a endless profusion. As we have the best tax code money can buy.

After that, I call shens on most of the poster here. Since the IRS has not even published US tax rates for tax year 2012 yet due to fiscal cliff negotiations, and the IRS will not accept any tax returns before at least 1/30/2012. So how can any of you claim you have lost a bundle on huge tax increases? After all, my wife works as a tax professional, so I can better tell who is telling the truth, and who is outrageously distorting the truth.

And with the debt ceiling debate still looming, who knows how long before tax rates 2012 will be ready to be set, finalized, and published?
 
Lemon law said:
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The problem with the skimple contention is that its not simple as that. As the problem with US corporate tax rates is the in details, with far far far too many deductions to off set income. As huge and profitable US corporations like GE pay zero US taxes. As I recall then US tax code is 43,600 pages, and most of those pages is one corporate tax loophole after
another in a endless profusion. As we have the best tax code money can buy.

After that, I call shens on most of the poster here. Since the IRS has not even published US tax rates for tax year 2012 yet due to fiscal cliff negotiations, and the IRS will not accept any tax returns before at least 1/30/2012. So how can any of you claim you have lost a bundle on huge tax increases? After all, my wife works as a tax professional, so I can better tell who is telling the truth, and who is outrageously distorting the truth.

And with the debt ceiling debate still looming, who knows how long before tax rates 2012 will be ready to be set, finalized, and published?
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Paycheck deductions start immediately. And you forgot that it's 2013, not 2012.
 
OutHouse said:
just downloaded my first earnings statement of the year that has the payroll tax increase and all its pretty light. I am going to have to adjust some things because per month its a significant chunk of change.

FUCK YOU CONGRESS! You bunch of rich fucktard slimeball losers!
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^ A person's response to actually paying for social security again. Oh the horrors.
 
I'm the same boat as everyone else. My medical is going way up this year because now I have the family plain and not the single + dependent. On top of that they just up the price I have to pay each paycheck for medical over last year. The SS increase and only getting a raise of 1% to 3% won't even cover it. The only way this can be a good year is if the stock market stays strong. So far this year I done ok with the market but if it tanks it going to be bad year.
 
Jaskalas said:
^ A person's response to actually paying for social security again. Oh the horrors.
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F you and the social security. Let me opt out of it and I'd be a happy camper. I willing to bet I could make 3 times as much as what I'm getting back on it.
 
ArizonaSteve said:
It's interesting that the most regressive tax of the lot was the one that increased. Should've left it at 4.2% and removed the $113K cap.
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Are you also going to remove the cap on benefits? Or will it be remove the cap on salary effected and still cap the current cap on benefits?
 
The entire SS thing was temporary and I know we couldn't sustain it long term. It sucks but it was it is. I go a 3% raise so my paycheck was just about a wash after all the screaming was done. Well actually it went up since I no longer have $5k taken out for FSA, only $2.5k.
 
Jeffg010 said:
F you and the social security. Let me opt out of it and I'd be a happy camper. I willing to bet I could make 3 times as much as what I'm getting back on it.
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I used to say the same thing. You'll grow out of it eventually.....they always do (especially after paying into it for decades). I did.
 
OCGuy said:
Claim more exemptions. Idiots who get a big check in March think they just won the lottery...what they have done is give Uncle Sam an interest-free loan.
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This. Never understood people who allow the government to hold their money interest free. My mom told me this when I was 11 and she showed me how to fill out taxes, it was the first thing she taught me actually.
 
waterjug said:
This. Never understood people who allow the government to hold their money interest free. My mom told me this when I was 11 and she showed me how to fill out taxes, it was the first thing she taught me actually.
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What's the max you could withhold allowances ? If your single and have no dependents I don't think you can allow more than 2
 
sze5003 said:
What's the max you could withhold allowances ? If your single and have no dependents I don't think you can allow more than 2
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I'm at 4 I believe. I come out owing about 10.00 each year.



edit: A couple years ago before I was in this job I actually claimed 10.
 
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