First, the reduction in the payroll tax was meant to be a temporary reduction to stimulate the economy. So, to me, this discussion is just a recognition of what I knew was going to happen when the temporary cut was made. I was for the temporary cut, and I am for the ending of the temporary cut.
Originally Posted by behindmydesk
As far as $50 a month being a big deal, not in the sense that it is going to effect my life in any way. I will continue to pay my debts, save, invest, and buy luxuries.
It is a false analysis to equate a monthly decrease in net pay to a weekly expense. This increase is equal to a $10/$500 earned. It just is not that much.
Now, if your question is do I hold $50 a month as meaningless, than the answer is no. It is not meaningless, but, the question placed was about it being a BIG deal.
BTW BMD, I am enjoying this wonderful Johnnie Walker Blue. I love the holidays!
Here is the question of the day, does anyone think that wealthy people should pay a lower percentage of their income to taxes than middle class people? Don't argue tax brackets, just a simple question. Do you think someone earning 46 million dollars should pay a lower percentage of their income than say someone earning sixty thousand?