How much is the Obama/Dem tax increase costing you?

We just got our first paychecks which reflect the new Obama/Democratic tax increase and our take home pay went from $5200 per month to just over $4800 per month. So, the Obama tax increase will mean that after fixed monthly expenses our remaining money, for food and all other expenses, went from $900 to $500 a month.

Combine that with the fact that Obama cost me a decent job when he cancelled/vetoed the Keystone Pipeline, Obama and the Democrats have purposefully taken us from being self sufficient to needing food bank foods and other government help during the last week of each month to eat.

Our Obama induced poverty has resulted in my going without needed knee surgery, a washing machine(used) and without being able to do needed roof repairs on our home, which is our only remaining source of future equity/income outside social security(we have been forced to use our retirement funds to pay bills and eat).

Anyway, if I just consider the Obama tax increase, our family's monthly disposable income decreased by 44%. Thank You Mr President!

 

Maybe the GOP House should not have voted for it, huh?

 

You are correct sir!
The limp spine'd republicans who caved to Obama's demand to increase taxes are no better and in many ways worse than those who wanted to increase taxes on us all in the first place.

Still, the facts are that it was/is Obama and the democrats who pushed for increasing taxes and NOT the republicans...

 

How many are too young to remember that this is not a tax increase? But a return to normal taxes after a temporary tax cut?

 

Have you thought about cutting out some of those fixed monthly incomes, to be more comparable to the income you have?

Just saying times are not good for most Americans who have jobs, and almost all have/had to make such adjustments over the last decade.

 

I am probably twice as old as you and that is why I tend to call something by what it is and not by what some politico wants to rename it to try and avoid responsibility for their actions.

When our taxes go down, that is a tax cut.
When our taxes go up, that is a tax increase.

Everything else is just political BS.

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I am probably twice as old as you and that is why I tend to call something by what it is and not by what some politico wants to rename it to try and avoid responsibility for their actions.

When our taxes go down, that is a tax cut.
When our taxes go up, that is a tax increase.

Everything else is just political BS.

 

It's not an increase, it's an elimination of a decrease!

 

Yet Obama has no ability whatsoever to raise taxes, so who is more to blame? Further, did they not quite clearly state that the reduction in the payroll tax was temporary? Me thinks they did.

And see how this ends up a classic lose-lose to the folks in the bubble? If you say the reduction is temporary (which they clearly did) and then the time period for which it applies expires and the payroll tax reverts back to what it's been for decades, people whine about a "tax increase". If you allow it to continue they get to claim that SS and Medicare are not being properly funded, which will ultimately increase the debt. So either way people get to whine!

 

Funny how a few words can create such confusion.

When our taxes go down, that is a tax cut.
When our taxes go up, that is a tax increase.

Sounds most accurate and less political BS even if the tax cuts were temporary, taxes has now increased. Bottom line, everybody is effected, even if their actual taxes didn't go up, the cost of living increased to cover the extra costs..

 

congrats on reaching the ripe old age of 140.

A tax increase is a tax increase. An expiration of a temporary tax cut is something else.

 

A readjustment.

 

Ahhh, but it's all in the spin. They are paying the same taxes they did under Shrub. But were they whining about the payroll tax then? Of course not. They were touting that he lowered taxes. Oddly, to the same rates people are currently paying! It truly cracks me up.

 

Adjustments made long ago... not just trying to do what it takes to earn our incomes and keep living while obeying the law.
Would love to drop our insurances such as car(liability only), health, homeowners insurance($5000 deductable w/ 10% cyclone deductable) and our phone and car and electric and gas and water payments too. Our home has equity as we bought it 20 years ago when we both had very good jobs... but its' loan payment is $2100 a month. Can't do the Obama reduced mortgage program because he didn't include those of us whose mortgages were previously refinanced as home equity loans. Have leans on the home now and can't sell it without satisfying them and then also first doing about $28K in repairs on it to sell it. Have one kid in college but can't help her much at all and she now is working 28 hours a week while going to college full time and has taken out thousands in loans to pay for tuition and other college expenses. Son is a senior in high school and so it will just get worse not better as long as Obama continues to press forward policies which impact us negatively.
Obama's re-election was a very dark day for this family and just guaranteed that our lives would only get worse over the next four years.

 

Hehe... okay, I hope I live another 10 years in order to be as old as you. Kudos!

Regardless of the spin involved, when my taxes go up because of something Obama and/or the legislature does or doesn't do, that is a tax increase. IMO, calling it anything else is insensitive and prejudiced towards those of us who are most severely impacted by our loss of disposable(for food and the like) income.

As for the reduction in SS taxes mentioned by another poster, I only know the amount being direct deposited into our bank tomorrow and have not seen the breakout yet... but if the SS reduction is already in place as is the tax increase, then it is included in my numbers.

 

Who wouldn't? But none of those have anything to do with the President (no matter who it is).

Also not the President's fault.

Also not the President's fault.

None of that was the President's fault.

Sounds like all your problems have 0% to do with the President.

 

I don't understand.

Why aren't you THANKING Obama for giving you a TWO YEAR INCREASE of disposable income of 60%?

 

Well, he is the one who specifically eliminated my good paying job with a stroke of his pen. If he had allowed the Keystone Pipeline to start, our monthly take home income increases by thousands and we can take care of our financial problems over time. So yes, he is mostly responsible for our moving to living from a middle to a low class family.
And now, the tax increase only compounds our misery.

 

WTF?? How so you sleep at night?

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So when our taxes go back up to 71%, youll just call it a readjustment of the Reagan tax cuts?

 

Sounds like you put yourself in your economic prison, by over committing your finances. Sorry, but wipe away your tears and accept what you signed up to do. Maybe next time, you will consider the future of your employment before you make such a committment. I make very good money as a software engineer, but I bought a small house with 20% down, to make sure, in case I did have a fallback, I wouldn't burden myself.

 

Huh? All he did was continue to give me the tax rate which existed prior to his election into office. I guess I should have thanked him for not increasing my taxes sooner... is that what you really mean?

Are people really this naive(read stupid?) to think that their increase in income taxes is NOT due to Obama and the democrats/republicans who voted for the increase?
Saying that all Obama did was discontinue the tax reduction is no different from him voting to increase taxes when it comes to the reality of our bank accounts.

 

LMAO, Pres Obama does not determine your employer, who says you would be hired for the Keystone job.

 

So why didnt obama just raise the rates to 91% and call it a return to normal taxes after the temporary taxcuts from the FDR era?

 

I worked 25 years in middle/upper management in the Pharma industry before being retired when our company merged with one of the majors. We bought our home with 35% down and payment we could easily afford. Since then, govt regulations into the industry have reduced the number of relevant industry jobs by 80%, making it impossible for me to get a job within Pharma at my age and medical condition. Been applying and interviewing for just about anything but can't seem to compete against folks who are half my age with the promise of them staying on the job in good health for 20 more years. Made it to the final interview a number of times and as an example, my at the final interview with Merck vaccines I was up against a 36 year old hispanic male and a 28 year old black female. I had a much superior and more highly successful experience profile versus them but the 28 year old black female got he job. It always seems to be like that anymore.
I looked into going back to school to get a nursing degree but can't afford it and don't qualify for loans either.

We are just trying to hang on and not lose our home until our son goes to college as which time we will divorce(after 31 years) and I can go on medicaid/welfare and get poor folk loans for college so I can eventually get a nursing job to support myself.
We will also just dump our home for whatever equity we can get out of it after paying to settle the lawsuits and fixing the home to pass inspection.
So... the future looks brighter, no thanks to Obama and his cronies.