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Old 01-30-2013, 07:30   #1
akapennypincher
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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.

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.
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Old 01-30-2013, 07:35   #2
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Didn't you hear? "Millionaires and Billionaires" now includes your nephew.
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Old 01-30-2013, 07:36   #3
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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
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Old 01-30-2013, 07:37   #4
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Quote:
Originally Posted by akapennypincher View Post
He just got his first full paycheck for 2013. He told me he is taking home less, per check than in 2012.

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

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.
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Old 01-30-2013, 07:42   #5
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You can be pissed about the increase in taxes, but a 4% raise in this economy is pretty decent.
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Old 01-30-2013, 12:44   #6
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Originally Posted by FLIPPER 348 View Post
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.
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.
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Old 01-30-2013, 13:37   #7
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Originally Posted by .264 magnum View Post
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.
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".
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Old 01-30-2013, 13:42   #8
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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".
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.
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Old 01-30-2013, 20:37   #9
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Originally Posted by .264 magnum View Post
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?
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.
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Old 01-30-2013, 23:18   #10
.264 magnum
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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.
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.
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Old 01-31-2013, 00:09   #11
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I haven't had a raise in 6 years. In fact, I've had about a 6% pay cut in that time. Luckily, my wife works for a good company and has had about 8-10% annual raises for the past 8 years.

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Old 01-30-2013, 13:39   #12
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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.
Says our resident Obama cheerleader.
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Old 01-30-2013, 07:42   #13
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Fica returned to its normal rate. This could have contributed.
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Old 01-30-2013, 23:14   #14
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Fica returned to its normal rate. This could have contributed.
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?
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Old 01-30-2013, 07:44   #15
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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.
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Old 01-30-2013, 12:27   #16
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he's getting taxed for obama care, it's for the illegals

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Old 01-30-2013, 20:30   #17
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he's getting taxed for obama care, it's for the illegals
Not true.

Plain and simple

I'd you disagree, cite your source.
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Old 01-30-2013, 12:45   #18
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He got a raise, which is more than I can say for most of the people I know.
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Old 01-30-2013, 13:10   #19
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Originally Posted by akapennypincher View Post
His company had another good year, and the employees were REWARDED with a 4% COLA/RAISE.
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!


Quote:
He just got his first full paycheck for 2013. He told me he is taking home less, per check than in 2012.
Welcome him to the reality of 2013... and beyond.
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Old 01-30-2013, 13:18   #20
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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.
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Old 01-30-2013, 13:28   #21
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He got a raise? Wow... I haven't seen one of those in years!
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Old 01-30-2013, 13:33   #22
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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.
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Old 01-30-2013, 13:35   #23
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Quote:
Originally Posted by akapennypincher View Post
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.

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.
Wow, that would be bigger than any 2 combined cost of living raises KY state employees have gotten in the last 10 years.
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Old 01-30-2013, 14:44   #24
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[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.
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Old 01-30-2013, 18:53   #25
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the hell is a raise?
It's been years for me. years....
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