My check keeps getting smaller and smaller

[Omaha Beach]

Ignore the angry white male. Their anger makes them delusional

Dont you mind your SS taxes going up? Oh I forgot. You are a federal employee so that tax increase does not affect your paycheck. Nothing for you to get angry about. But what the hell it only affects "rich" people making more than 50k so why get upset?

[Omaha Beach]

SS taxes went up because the payroll tax holiday expired. You could blame the Republican Congress for this, since the holiday was Obama's policy, and supporting its extension would have essentially given him credit for lowering taxes. Basically cutting off your nose to spite your face. Regardless, if you want to receive SS benefits, decreasing the amount going into the trust fund isn't a good long-term policy. There's no free lunch.

As for insurance, you should probably ask your employer why rates went up. My rates have stayed the same this year for the first time in a while.

There is NO trust fund. Money in and out. You want to increase the money going in stop being anti business so more people have jobs. That is the best way to get more money going to SS.

[rudy_d]

There is NO trust fund. Money in and out. You want to increase the money going in stop being anti business so more people have jobs. That is the best way to get more money going to SS.

Regardless of what you call it, for years there was more money going into social security from payroll taxes than there was going out in benefit payments. The opposite has been true since 2010.

Increasing employment would be great. But based on demographics, the SS deficit is going to worsen unless there are reductions in benefits or the country sees a surge of immigration of young people to help pay the elderly. Keeping the payroll tax holiday in effect would worsen that deficit.

[OldBay]

Regardless of what you call it, for years there was more money going into social security from payroll taxes than there was going out in benefit payments. The opposite has been true since 2010.

Increasing employment would be great. But based on demographics, the SS deficit is going to worsen unless there are reductions in benefits or the country sees a surge of immigration of young people to help pay the elderly. Keeping the payroll tax holiday in effect would worsen that deficit.

Technically true. However, continuous raiding of dedicated funds has the same effect as keeping the payroll holiday. And it provides good justification for distrust of gov't when payroll taxes, supposedly for SS, go to general gov't operations and pork back home to assure re-election.

When gov't at all levels raids dedicated funds for spending outside of their claimed purpose, we all lose.

[Informed Thinker]

First check of the year
Insurance went up $150 a month...
SS $38 per month


thanks everybody

How many days in 2013 did you work and get paid for?
Monday was still 2012
Tuesday was a holiday for most
Wednesday was a work day as was Thursday and you got paid on Friday. So at most it was what two days? Or is something different in your situation? If your SS went up $38 for at best two days work and possibly just one consider your next check. Join us then and give us an update. Not that I am accusing you of anything but I have seen similar post and dollar amounts elsewhere in other forums. Man you got a big increase in SS contributions coming next pay but you must make a chunk of change if this small picture reflects your full salary but wait SS is capped at 110k so did your employer increase it in anticipation of your working earnings moving forward?

[Informed Thinker]

Dont you mind your SS taxes going up? Oh I forgot. You are a federal employee so that tax increase does not affect your paycheck. Nothing for you to get angry about. But what the hell it only affects "rich" people making more than 50k so why get upset?

I have a hunch he doesn't mind because he does the math and knows how the payroll holiday was adding to the deficit and hurting the trust fund for future payouts. Sorta like being able to handle and embrace delayed gratification and and not need immediate gratification.

http://www.ehow.com/about_6723467_go...-benefits.html

Prior to 1984, federal employees paid into the Civil Service Retirement System (CSRS) rather than Social Security. Beginning in 1984, new employees entered the Federal Employees Retirement System. Current employees could either switch completely to FERS or stay in the Civil Service system. Federal employees who did not switch still paid into Medicare, beginning in 1984. Their CSRS pensions may affect any Social Security benefits under the Government Pension Offset (GPO) and Windfall Elimination Provisions (WEPs) of Social Security. FERS annuitants are not subject to GPO or WEP. FERS employees who are eligible to retire before age 62 receive a special FERS supplement equal to their age 62 Social Security benefit until they start collecting Social Security at age 62.

So unless we know Ken and or he has shared previously we don't know if collects and pays into SS or not. However since the switchover was 28 years ago you might guess what the odds are.

[OldBay]

How many days in 2013 did you work and get paid for?
Monday was still 2012
Tuesday was a holiday for most
Wednesday was a work day as was Thursday and you got paid on Friday. So at most it was what two days? Or is something different in your situation? If your SS went up $38 for at best two days work and possibly just one consider your next check. Join us then and give us an update. Not that I am accusing you of anything but I have seen similar post and dollar amounts elsewhere in other forums. Man you got a big increase in SS contributions coming next pay but you must make a chunk of change if this small picture reflects your full salary but wait SS is capped at 110k so did your employer increase it in anticipation of your working earnings moving forward?

I'm not sure of the OP situation, but he stated his SS increase was only $38 per month - not per pay period. So that suggests that he has used his paystub to calculate his monthly SS tax increase. By my calculations, if his SS only goes up $38 per month, that translates to an annual salary of about $23K.

In addition, deductions are applied to the rates current on your date of pay - not on the period in which you actually earned that pay. For example, my first paycheck of 2013 was on wednesday 1-2-13 for the two week period from 12-12-12 thru 12-26-12. Despite the work period being in 2012, the pay occurred in 2013, so deductions/rates are credited to 2013. Just as payroll taxes were taken out for a full two-week period at a rate effective for 2013, my 401K deduction applied completely to 2013, not 2012. And the income will not show on the W-2 for 2012 income, but will for 2013 income. It does not seem logical, but that's the way it is done.

Some people work for employers who are agreeable to delaying their last pay of the year into the next year, to reduce their W-2 earnings. In previous years, that strategy reduced taxes. If that was done this year, it had the opposite result.

[TheResearcher]

Nope, it's not, actually. Perhaps you need to research that

All traps are set with "free" bait.

[rudy_d]

Technically true. However, continuous raiding of dedicated funds has the same effect as keeping the payroll holiday. And it provides good justification for distrust of gov't when payroll taxes, supposedly for SS, go to general gov't operations and pork back home to assure re-election.

When gov't at all levels raids dedicated funds for spending outside of their claimed purpose, we all lose.

Good points. SS withholdings buy Treasury bonds, which effectively allows the government to use the money on whatever it pleases.

But what's the alternative? A "lock box," similar to what Al Gore advocated, isn't practical in reality. The government can't just keep that money in a non-interest bearing account--inflation will erode it. Investing it in stocks or corporate bonds creates significant conflicts of interest, similar to what occurs in communist governments where the state controls corporations. And I don't think it's smart to turn SS into 401k type accounts, as it's supposed to be a supplemental insurance program, and most people aren't astute enough to know how to allocate their investments properly.

[durango46]

I'm not sure of the OP situation, but he stated his SS increase was only $38 per month - not per pay period. So that suggests that he has used his paystub to calculate his monthly SS tax increase. By my calculations, if his SS only goes up $38 per month, that translates to an annual salary of about $23K.

In addition, deductions are applied to the rates current on your date of pay - not on the period in which you actually earned that pay. For example, my first paycheck of 2013 was on wednesday 1-2-13 for the two week period from 12-12-12 thru 12-26-12. Despite the work period being in 2012, the pay occurred in 2013, so deductions/rates are credited to 2013. Just as payroll taxes were taken out for a full two-week period at a rate effective for 2013, my 401K deduction applied completely to 2013, not 2012. And the income will not show on the W-2 for 2012 income, but will for 2013 income. It does not seem logical, but that's the way it is done.

Some people work for employers who are agreeable to delaying their last pay of the year into the next year, to reduce their W-2 earnings. In previous years, that strategy reduced taxes. If that was done this year, it had the opposite result.

sorry my mistake it's $38 per 2 week check
and yes taxes were taken over that 2 week period from Dec. 21st - Jan. 4th and applied to 2013

as for the insurance....it's turned to complete garbage. Received a letter yesterday stating we now have to purchase so called maintenance meds thru the mail.... WHAT ????

[Informed Thinker]

sorry my mistake it's $38 per 2 week check
and yes taxes were taken over that 2 week period from Dec. 21st - Jan. 4th and applied to 2013

as for the insurance....it's turned to complete garbage. Received a letter yesterday stating we now have to purchase so called maintenance meds thru the mail.... WHAT ????

By any chance is it with Express Scripts?

[bmore_ken]

So unless we know Ken and or he has shared previously we don't know if collects and pays into SS or not. However since the switchover was 28 years ago you might guess what the odds are.

I've covered that topic before on this forum. Omaha hates federal employees. I'm guessing he was turned down for a job once and the unnatural hate persists. For the record though when I was hired I was mandated under FERS. Would have chosen it anyway, so for the last 22 years of my federal service and my 8 years of military service I've had paid the same taxes as everyone else.

[Informed Thinker]

I've covered that topic before on this forum. Omaha hates federal employees. I'm guessing he was turned down for a job once and the unnatural hate persists. For the record though when I was hired I was mandated under FERS. Would have chosen it anyway, so for the last 22 years of my federal service and my 8 years of military service I've had paid the same taxes as everyone else.

I am beginning to think he dislikes anyone that is making money that he feels could and should be used for other purposes of his liking. The man has a spending problem and is addicted to his concept of social activism.

[Balmerboh]

My SS payment went up 50% per my most recent paycheck issued 1/4/13.

Look, like I've said many times before I hope Obama succeeds - his first term was not too shabby. My concern is that the widening gap between rich and poor will further cause people to vote for candidates that want bigger government. Then, you will have basically what's happened in every city (more dependence, more angst, more voting for democrats to chase the fictitious "bad guys" hoarding all the money). We should tax the 1% more which is the % that skews all the numbers we should not the tax the top 35% more as they are what drive the economy.

[durango46]

By any chance is it with Express Scripts?

you got it. Express Scripts

Also paying $3K deductible for 3. But lucky us 4th ones free.

[Omaha Beach]

I am beginning to think he dislikes anyone that is making money that he feels could and should be used for other purposes of his liking. The man has a spending problem and is addicted to his concept of social activism.

Not so. Have relatives who are federal employees certainly dont hate them. And its liberals like uniformed who want to punish successful people in this country by higher and higher taxes on them while not wanting to do a dam thing to curtail out of control spending. This may be a surprise to you two but most wealthy people in this country have actually worked for it not inherited it like the Kennedys.

[Informed Thinker]

you got it. Express Scripts

Also paying $3K deductible for 3. But lucky us 4th ones free.

Ok, I am assuming you got literature from them about having to go to mail order. Read it carefully and see if it has a section about opting out by a certain date. If so follow those directions. If not go online to your express scripts account and carefully follow all options and see if there is one that allows you to retain your current providor. If so do that, if not call them and tell them you want to continue as is. They are trying to strong arm people into going with mail delivery as that is more profit for them. If you have the insurance through work ask others on the job and your benefits office what the terms of their contract is with them.

[bmore_ken]

This may be a surprise to you two but most wealthy people in this country have actually worked for it not inherited it like the Kennedys.

Actually most of their great grandparents and grandparents worked for it. Inheritance works wonderful for your bottom line

[Informed Thinker]

Not so. Have relatives who are federal employees certainly dont hate them. And its liberals like uniformed who want to punish successful people in this country by higher and higher taxes on them while not wanting to do a dam thing to curtail out of control spending. This may be a surprise to you two but most wealthy people in this country have actually worked for it not inherited it like the Kennedys.

Why would it surprise you and what does this have to do with what I said? My response is not clear the he I was referring to was not you but President Obama who likes the size of government but not necessarily the salaries of government. Most of the wealthy worked for their money and even if inherited they are still putting it to work and making money from money is a job.

[Steveg85321]

You get what you vote for.

This is in fact the actual agenda of the Democrat left. The POTUS and others (O'Malley among them) give lip service to protecting middle class, working folks' taxes, but their spending policies, which are necessary to provide all the services we unreasonably expect from government, mean that we will have to continue to see our taxes and other fees increase. It continues to happen a little at a time, but it all adds up. There are not enough so-called rich people to pay for all these programs even if the government were able to tax them at the same level they tax us. We (the people) cannot win, because in the long run the Dems want to take everything we have in order to run everything we do, and we keep voting for it because we've become dependent on it.

SS taxes went up because the payroll tax holiday expired. You could blame the Republican Congress for this, since the holiday was Obama's policy, and supporting its extension would have essentially given him credit for lowering taxes. Basically cutting off your nose to spite your face. Regardless, if you want to receive SS benefits, decreasing the amount going into the trust fund isn't a good long-term policy. There's no free lunch.

As for insurance, you should probably ask your employer why rates went up. My rates have stayed the same this year for the first time in a while.

The rates for medical insurance benefits are skyrocketing because these companies see Obamacare coming and they need to hit hard while they have the chance. It would make so much more sense to get some controls on the costs of health care rather than think that the government is going to be able to pay for it. There is indeed no free lunch, and our taxes, the deficit, and the availability and quality of health care are going to suffer.