My nephew just got a 4% raise at the end of 2012
 

His company had another good year, and the employees were REWARDED with a 4% COLA/RAISE.

He just got his first full paycheck for 2013. He told me he is taking home less, per check than in 2012:steamed:.

Think this is a very prime example of taxing the rich per OMAMA.

BTW the kid make less than 50K/Year, and is not rich by any stretch of the word.

Didn't you hear? "Millionaires and Billionaires" now includes your nephew.

Does he pay part of his own healthcare coverage? My old boss told me last week that if I were still employed there, that my premiums would have nearly doubled this year. $335 to $618

Ya' know, for all the fox news y'all watch one would think you would be better informed. Threads such as this make GTers look pretty stupid.

You can be pissed about the increase in taxes, but a 4% raise in this economy is pretty decent.

Fica returned to its normal rate. This could have contributed.

Expiration of the Social Security payroll tax relief.
The tax rate is going back to what it was before the recession.
It's a win/win for the government. They get a tax increase on the middle class while telling everyone they're not raising taxes.

Now, to be honest...the middle class is where the money is at.
You can take 100% of the income of the top 5%, and it won't put a dent in the federal budget. But take 5% of the income of the other 95% of the population, and you're talking a ****load of money.

he's getting taxed for obama care, it's for the illegals :wavey:

My tax atty. and CPA says the same is he FOS too? This guy has been an atty for 40 years and a CPA for 39. Maybe we can arrange a conference call and you can tell him he does not know what he is talking about?

His specific relevant points are taxes are going up now due to the 2% SS thing and Obamacare and next year will be far worse.

He got a raise, which is more than I can say for most of the people I know.

4-percent raise for one year is not bad. But when was the last time he and the co-workers got a raise?

If it was just last year, then they're doing great!


Welcome him to the reality of 2013... and beyond. :supergrin:

I got a promotion to the job I was already doing (basically they were paying me less to do the same job) which came with a small raise, and I also got a separate raise of 2% based on performance. I believe my paycheck is about $10 less. I kept all my 401K and SPP etc the same.

He got a raise? Wow... I haven't seen one of those in years!

Him getting less has nothing to do with "taxing the rich". Everyone had a slight increase in taxes this year, my check went down $50 every 2 weeks. There were a bunch of threads about it early in the year.

Wow, that would be bigger than any 2 combined cost of living raises KY state employees have gotten in the last 10 years.

The end of the SS tax decrease is the only change in Fed. income taxes. If the guy's 4% raise more than disapeared, it wasn't an "example of taxing the rich per OMAMA".

Says our resident Obama cheerleader.

I'm not talking about the OP per se.

Again, I just had lunch with a tax atty/CPA. - you are welcome to join the conference call with Flipper et al.

ETA ask your payroll dept about the per head fee due this year. And the various buried associated Obamacare costs they have it plan for and recoup now. Do it now.

[January 7, 2013]

The new tax legislation that Congress approved on Jan. 1, 2013, and President Obama recently signed may affect the 2013 federal income tax withholding on your paychecks.

The tax rate will go up for individuals earning $400,000 or more a year and for families making $450,000 or more. All rates reflect the annually inflation-adjusted income brackets.

Campus is updating its payroll system to start withholding at the new tax rates before the Feb. 15, 2013, deadline set by the Internal Revenue Service. The new tax rates will be reflected in paychecks issued on or after Feb. 15.

Because Congress did not pass the legislation until the early part of January, Campus is using the 2012 federal tax rate schedule to process payroll for paychecks issued prior to Feb. 15.

However, paychecks issued on or after Jan. 1 reflect two other tax changes:

The employee share of OASDI (Social Security), which reverted from 4.2 percent to the historical rate of 6.2 percent on Jan. 1.
Increases in 2013 California income tax rates for some earners due to passage in November of Proposition 30, Governor Brown's income and sales tax initiative.

Note that paychecks issued in 2013 also reflect any changes in your benefits such as insurance premium increases or changes in flexible spending account contributions.

the hell is a raise?
It's been years for me. years....

Not true.

Plain and simple

I'd you disagree, cite your source.

No problem, give him my contact info via this site. BTW- You need a smarter CPA ...or at least one who knows what is going on.

Same exact thing happened to me. Got a raise in late November 2012, and after the social security increase in January 2013, I now make 3 dollars less than I made before I got the raise.

in other words, obama raised the fica tax.

if gas costs $4/gal last year, went down to $3/gal this year, then goes back up to $4/gal; did the gas prise rise or just go back to the normal price?

I just re-read most of the thread and I get where you are coming from. I guess your point is that for wage earners the only .gov tax change they would see so far this year is the 2% thing. That's great and all but it's gets bad from here on out.


ETA - and some of us are paying at a new and higher rate. I assure you I know what I'm talking about.