Disney Information Station Logo

Go Back   The DIS Discussion Forums - DISboards.com > Disney Trip Planning Forums > Budget Board
Find Hotel Specials & DIScounts
 
facebooktwitterpinterestgoogle plusyoutubeDIS UpdatesDIS email updates
Register Chat FAQ Tickers Search Today's Posts Mark Forums Read





Closed Thread
 
Thread Tools Rate Thread Display Modes
Old 01-20-2013, 09:43 AM   #46
crashbb
DIS Veteran
 
Join Date: Sep 2006
Posts: 7,479

Quote:
Originally Posted by DisneyATlast View Post
If it doesn't apply to you then I don't know how it would be offensive. Obviously not all or even most rich people are greedy, but if you are rich and greedy then I think it's a pretty fitting and funny saying.
Except that your statement was written to apply to ALL rich people. It didn't say that *some* rich people are greedy or that *some* rich people didn't get rich by being generous.

That's like saying "poor people didn't get poor by being hard workers" and then being surprised that people took it be offensive. Or to then say, "obviously not all or even most poor people are lazy, but if you are poor and lazy then I think it's a pretty fitting funny saying".

Of course you statement was offensive.
crashbb is offline  
Old 01-20-2013, 10:09 AM   #47
robsmom
loved it so much we might go back
 
robsmom's Avatar
 
Join Date: Mar 2001
Location: southern, nj
Posts: 1,574

Quote:
Originally Posted by DawnM View Post
I see. Well, it still couldn't be $800 per month, unless as a PP suggested, they are including health insurance increases.

Dawn
Theoretically someone could have $7049.40 more of social security taken out in their first jan 2013 check then their last dec 2012 check. The $113,000 limit starts at the beginning of the year and is not spread throughout the year. A very higher earner (CEO, law partner types) could make over $113,000 in their first check if they make millions a year. They would therefor have their entire 2013 Social Security taken out of one check and then have nothing but medicare the rest of the year. I would think that said person would not worried about the difference, however I use it as a example to show that the change for the month could be any number from $1 to $7049.40.
__________________
Hard Rock Hotel 12/01, 11/06
Disneyland (Grand Californian) 5/03
Polynesian and HRH 5/04
Wilderness Lodge 7/05
Vistana 6/07
DCL 8/07
DCL, Wilderness Lodge, AKL 11/08
Yacht Club 11/09
robsmom is offline  
|
The DIS
Register to remove

Join Date: 1997
Location: Orlando, FL
Posts: 1,000,000
Old 01-20-2013, 11:08 AM   #48
MomToOne
DIS Veteran
 
Join Date: Mar 2010
Posts: 1,473

Quote:
Originally Posted by disney4us2002 View Post
Clearly I am not a math person because I don't understand at all. My dh's paystub did not change, not one penny more deducted from either state or federal taxes. However, his FICA deduction changed from $80 to $426 in ONE check. That is huge. If that keeps up twice per month, we are talking $700. Dh is very nonchalant about the whole thing so I'm sure he won't call his HR or finance dept. Someone else posted about the max FICA can collect but that meant nothing to me. His last paystub from 2012 showed the total as $6574 but his deduction had been $80 for the last 4 months of 2012. I'm confused if they start this very high and then cut it back as the year goes on?
I suspect your DHs paystub has a single "FICA" line item deduction.

FICA is actually made up of two different taxes: a Social Security tax, and a Medicare tax.

The SS tax rate is 6.2% (this year - last year it was 4.2%), until you max out, then it goes to 0%

The Medicare tax rate is 1.45% and you pay it no matter what. There is no maximum. In fact, starting this year, this tax jumps to 2.35% when you hit $200K in income.

Your DH maxed out somewhere during the year on SS - your year end total of $6574 clearly indicates this, since the max SS last year was around $4600 on the first $110K of earnings. You probably maxed out SS at 7 or 8 months into the year, at which point the amount withheld would have dropped dramatically from 5.65% to only 1.45%.

Your DHs check returned to the standard 7.65% rate at the beginning of the year for the combined items. Once you max out SS again, it will go back down to just 1.45% until the end of the year, then the cycle will start all over again in 2014.

Since your husband has this high of a salary, I suspect you've seen this same pattern in previous years, you just weren't watching as closely so you didn't notice it.

I suggest everyone Google the different line items on their paychecks, and get to know what they are about, the rates, maximums etc. If you work in CA, there is SDI, for which the deduction percentage can vary year to year, and there is a maximum amount similar to SS, that also varies year to year. I'm sure other states have similar items. There is plenty of information on it all out there - you just need to look.

Last edited by MomToOne; 01-20-2013 at 11:41 AM.
MomToOne is offline  
Old 01-20-2013, 11:16 AM   #49
Suz D
DIS Veteran
 
Join Date: Feb 2005
Location: Morgantown, WV
Posts: 1,789

Quote:
Originally Posted by DawnM
If the cap is $113,000, then the most people will pay is $188.33 per month more, correct? People are reporting more than that and saying they are seeing $300-$800 taken out of their checks. There is something wrong then if you are seeing more than that amount taken out. My husband is an accountant. He is on a backpacking trip in the mountains at the moment without cell service or I would ask him about it. But I am not quite understanding those of you reporting higher numbers than should be taken out. There is something not right.
This actually sums up what I was trying to say in my original post. The numbers (300-800) that were being reported by some just weren't making sense. I also didn't know about the cap so it makes even less sense. Not criticizing anyone, just confused by the numbers and assuming that someone making 180,000 would have some cushion in their budget. That probably came across as judgemental and for that I apologize.
Suz D is offline  
Old 01-20-2013, 11:44 AM   #50
ilovemk76
DIS Veteran
 
ilovemk76's Avatar
 
Join Date: Oct 2010
Posts: 3,384

Quote:
Originally Posted by DawnM View Post
I see. Well, it still couldn't be $800 per month, unless as a PP suggested, they are including health insurance increases.

Dawn
If they made $40,000 in a month then their 2% increase would be $800. At that rate they would only pay that $800 for two month and in the third month it would got down to $660 and then the rest of the year it would be $0, since they earned $113,000.
__________________
What does $3.00 ham have to do with Mexico?
ilovemk76 is offline  
Old 01-20-2013, 12:06 PM   #51
pantherlj
DIS Veteran
 
Join Date: Aug 2006
Location: North Carolina
Posts: 1,177

Quote:
Originally Posted by robsmom View Post
Theoretically someone could have $7049.40 more of social security taken out in their first jan 2013 check then their last dec 2012 check. The $113,000 limit starts at the beginning of the year and is not spread throughout the year. A very higher earner (CEO, law partner types) could make over $113,000 in their first check if they make millions a year. They would therefor have their entire 2013 Social Security taken out of one check and then have nothing but medicare the rest of the year. I would think that said person would not worried about the difference, however I use it as a example to show that the change for the month could be any number from $1 to $7049.40.
This. If you hit $113K anytime before the end of the year you would have 0 taken out on your end of year check and then full amount taken out the first check of the year. To compare apples to apples, compare first pay check of this year to first pay check of last January (excluding anything like health insurance differences)
pantherlj is offline  
Old 01-20-2013, 12:15 PM   #52
tasha99
DIS Veteran
 
Join Date: Aug 2006
Location: Oregon coast
Posts: 3,525

Quote:
Originally Posted by ilovemk76 View Post
If they made $40,000 in a month then their 2% increase would be $800. At that rate they would only pay that $800 for two month and in the third month it would got down to $660 and then the rest of the year it would be $0, since they earned $113,000.
Since their previous ss tax was likely 0 (already maxed out in December), the increase would be the whole 6.2. 800 is 6.2% of $12903--so a bit over 150K annually.

Obviously, the perception of this tax increase would be highly affected by whether December-January or previous January-January checks are compared.
tasha99 is offline  
Old 01-20-2013, 12:42 PM   #53
DawnM
Dawn
 
DawnM's Avatar
 
Join Date: Oct 2005
Location: NC
Posts: 12,778

AH! Now I get it. Thank you for explaining.

Although it seems these people do think that will be taken out throughout the year.

Dawn

Quote:
Originally Posted by robsmom View Post
Theoretically someone could have $7049.40 more of social security taken out in their first jan 2013 check then their last dec 2012 check. The $113,000 limit starts at the beginning of the year and is not spread throughout the year. A very higher earner (CEO, law partner types) could make over $113,000 in their first check if they make millions a year. They would therefor have their entire 2013 Social Security taken out of one check and then have nothing but medicare the rest of the year. I would think that said person would not worried about the difference, however I use it as a example to show that the change for the month could be any number from $1 to $7049.40.
__________________
Dawn

living with 4 boys (dh included)
DawnM is offline  
Old 01-20-2013, 01:20 PM   #54
leahjade
DIS Veteran
 
Join Date: Jan 2007
Posts: 2,091

Quote:
We have the right to enjoy the money we earn just like anyone else
We don't make anywhere near half what the OP had quoted, but I still am bothered by the jealousy in this country today. Since when did success become a dirty word? Most people who make over six figures didn't inherit the money - they worked hard and long hours - more than I'd be willing to do to increase my middle class income. Maybe they went back to school for graduate degrees which I wasn't interested in doing. I say congratulations to you, and you have just as much right as anyone to complain about someone raising your taxes! What exactly is the cutoff figure that someone is allowed to complain? Maybe you are complaining with your $40,000 income yet someone who only makes minimum wage thinks you don't have the right to complain either!
leahjade is offline  
Old 01-20-2013, 01:54 PM   #55
CloveLeaf
Earning My Ears
 
Join Date: Jul 2009
Location: WA
Posts: 67

Quote:
Originally Posted by leahjade View Post
We don't make anywhere near half what the OP had quoted, but I still am bothered by the jealousy in this country today. Since when did success become a dirty word? Most people who make over six figures didn't inherit the money - they worked hard and long hours - more than I'd be willing to do to increase my middle class income. Maybe they went back to school for graduate degrees which I wasn't interested in doing. I say congratulations to you, and you have just as much right as anyone to complain about someone raising your taxes! What exactly is the cutoff figure that someone is allowed to complain? Maybe you are complaining with your $40,000 income yet someone who only makes minimum wage thinks you don't have the right to complain either!
THIS +1
I can't stand the jealousy either. Some people work long hours and are smart enough to get the difficult jobs done. That's why they are compensated more. There is nothing wrong with that. They have every right to complain about tax. After all, for people who still get most of their money on W2, it is still true that the more they earn, the more they pay in tax both dollar amount and percentage wise.
CloveLeaf is offline  
Old 01-20-2013, 02:49 PM   #56
rockawaybeachgirl
Mouseketeer
 
Join Date: Aug 2011
Posts: 181

Quote:
Originally Posted by leahjade View Post
We don't make anywhere near half what the OP had quoted, but I still am bothered by the jealousy in this country today. Since when did success become a dirty word? Most people who make over six figures didn't inherit the money - they worked hard and long hours - more than I'd be willing to do to increase my middle class income. Maybe they went back to school for graduate degrees which I wasn't interested in doing. I say congratulations to you, and you have just as much right as anyone to complain about someone raising your taxes! What exactly is the cutoff figure that someone is allowed to complain? Maybe you are complaining with your $40,000 income yet someone who only makes minimum wage thinks you don't have the right to complain either!
I totally agree. I was actually going to start a thread about this bias against 'high income earners'. It doesn't make any sense to me- grow up poor, work hard, succeed on your own merit- uhm, last time I checked that was the American Dream, right?

It's funny, people rant and rave about low- income people when they think they take too much from the government (ie us)- but then there seems to be this invisible line of "too much" income, and a thought that anyone who makes that much not have earned it/by greedy/be against the middle class.

To your point above- I could have been an investment banker, but I wasn't willing to committ to the 100+ hour workweeks, grueling schedule, constant pressure. The trade off wasn't worth it to me. So when I hear how much a first- year analysts makes at Goldman Sachs, I have no right to complain. I just say 'good for them'.
rockawaybeachgirl is offline  
Old 01-20-2013, 03:01 PM   #57
tasha99
DIS Veteran
 
Join Date: Aug 2006
Location: Oregon coast
Posts: 3,525

Quote:
Originally Posted by leahjade View Post
We don't make anywhere near half what the OP had quoted, but I still am bothered by the jealousy in this country today. Since when did success become a dirty word? Most people who make over six figures didn't inherit the money - they worked hard and long hours - more than I'd be willing to do to increase my middle class income. Maybe they went back to school for graduate degrees which I wasn't interested in doing. I say congratulations to you, and you have just as much right as anyone to complain about someone raising your taxes! What exactly is the cutoff figure that someone is allowed to complain? Maybe you are complaining with your $40,000 income yet someone who only makes minimum wage thinks you don't have the right to complain either!
tasha99 is offline  
Old 01-20-2013, 03:12 PM   #58
ilovemk76
DIS Veteran
 
ilovemk76's Avatar
 
Join Date: Oct 2010
Posts: 3,384

Quote:
Originally Posted by tasha99 View Post
Since their previous ss tax was likely 0 (already maxed out in December), the increase would be the whole 6.2. 800 is 6.2% of $12903--so a bit over 150K annually.

Obviously, the perception of this tax increase would be highly affected by whether December-January or previous January-January checks are compared.
You are right. I was using January to January.


Quote:
Originally Posted by leahjade View Post
We don't make anywhere near half what the OP had quoted, but I still am bothered by the jealousy in this country today. Since when did success become a dirty word? Most people who make over six figures didn't inherit the money - they worked hard and long hours - more than I'd be willing to do to increase my middle class income. Maybe they went back to school for graduate degrees which I wasn't interested in doing. I say congratulations to you, and you have just as much right as anyone to complain about someone raising your taxes! What exactly is the cutoff figure that someone is allowed to complain? Maybe you are complaining with your $40,000 income yet someone who only makes minimum wage thinks you don't have the right to complain either!
__________________
What does $3.00 ham have to do with Mexico?
ilovemk76 is offline  
Old 01-20-2013, 03:24 PM   #59
momto2girls
DIS Veteran
 
Join Date: Jan 2004
Location: The midwest
Posts: 2,513

Quote:
Originally Posted by leahjade View Post
We don't make anywhere near half what the OP had quoted, but I still am bothered by the jealousy in this country today. Since when did success become a dirty word? Most people who make over six figures didn't inherit the money - they worked hard and long hours - more than I'd be willing to do to increase my middle class income. Maybe they went back to school for graduate degrees which I wasn't interested in doing. I say congratulations to you, and you have just as much right as anyone to complain about someone raising your taxes! What exactly is the cutoff figure that someone is allowed to complain? Maybe you are complaining with your $40,000 income yet someone who only makes minimum wage thinks you don't have the right to complain either!
__________________
Be Careful What You Wish For Because You Just Might Get It
momto2girls is offline  
Old 01-20-2013, 03:28 PM   #60
snarlingcoyote
I know people who live in really carpy school districts
 
snarlingcoyote's Avatar
 
Join Date: Dec 2008
Location: Louisiana
Posts: 5,641

I know people who have clawed their way up from poverty, but not many and it's getting harder to do that and looking at our educational system from early childhood on thru college, it's being made harder and harder to do that. Almost all the people who are middle class or up that I know had parents who were working class or up. And, let's face it, if you're born privileged, you tend to stay privileged. You've got your parents and other connections that other people lack. You've got access to a good education that not all of the underclasses get. The skids are greased for you to stay in a good earning class if you are born to a good earning class.

I wouldn't say the opportunities aren't there, but they are small, and things are definitely NOT equal. And those opportunities are dimishing day by day by day in this country.
__________________
Our family:
DH Me
Our menagerie:
snarlingcoyote is offline  
Closed Thread



Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

facebooktwitterpinterestgoogle plusyoutubeDIS Updates
GET OUR DIS UPDATES DELIVERED BY EMAIL



All times are GMT -5. The time now is 06:58 AM.

Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.

Copyright © 1997-2014, Werner Technologies, LLC. All Rights Reserved.