What AREN'T you going to do with your $183.33 ?

[mythoughts]

When we go over the fiscal cliff that it now seems Replublicans and Democrats are perfectly willing to allow happen, how will this affect you.

By my calculation if the average tax increase is going to be $2200 per year, if you divide that by 12 months that's $183.33 less each month. These deductions will begin with your first paycheck in January, unless I heard wrong. So are you sure you can really afford those monthly payments for those Xmas presents you put on a credit card?

[naive]

When we go over the fiscal cliff that it now seems Replublicans and Democrats are perfectly willing to allow happen, how will this affect you.

By my calculation if the average tax increase is going to be $2200 per year, if you divide that by 12 months that's $183.33 less each month. These deductions will begin with your first paycheck in January, unless I heard wrong. So are you sure you can really afford those monthly payments for those Xmas presents you put on a credit card?

I'll just simply have my gas and electric turned off..

[BiggSeth]

Already adjusted my 401K to withold more of my earnings pre-tax to offset any additional taxes. My guy tells me I may see about $20 less per paycheck. I guess I'll have to stop wiping my butt with $20 bills .....

[CajunRaven]

Ramon Noodles will be a regular......

But folks got to have their Obama Phones, so what are you going to do.

[cprenegade]

Already adjusted my 401K to withold more of my earnings pre-tax to offset any additional taxes. My guy tells me I may see about $20 less per paycheck. I guess I'll have to stop wiping my butt with $20 bills .....

Exactly what I was thinking. I will play with my 401k contribution rate to determine what is the best balance for keeping money out of the governments hands while not overly affecting me. That said, I don't believe it will happen. It is not in either party's best interest for that to happen. Republicans will risk taking much of the blame and having it affect them at the mid-terms, while Obama will be risking his legacy. Neither will let it happen, they will just posture, grandstand and take it right up to the last minute.

[overtaxed]

Don't get too happy with the 401 idea. Read the thread where some fools in the govt. want to get their hands on the money in those.

[OldBay]

When we go over the fiscal cliff that it now seems Replublicans and Democrats are perfectly willing to allow happen, how will this affect you.

By my calculation if the average tax increase is going to be $2200 per year, if you divide that by 12 months that's $183.33 less each month. These deductions will begin with your first paycheck in January, unless I heard wrong. So are you sure you can really afford those monthly payments for those Xmas presents you put on a credit card?

2200 seems low. I'm not sure that this average increase includes the expiration of the temporary payroll (SS) tax cut. Nobody is mentioning this, but that temporary cut expiration alone will cost someone earning 50K an additional $1K in SS tax alone if the employee contribution rate goes from 4.2% back to 6.2%.

I've done some back of the envelope calculations and my taxes will go up a hell of a lot more than just 2200.

[BlandFood]

I'm going to just bill the gubmet, they'll cover it.