So, Do we get a 2% Social Security Break or not???

[gerard]

I wasn't in favor of the cut even though I'll benefit from it because it will cost 55 billiion in more deficit spending. However, AT LEAST it's going back to the 50% of the people who actually pay into the federal tax system to start with! I always said the easiest way to get money back into the peoples hands is just to not collect it in the first place. It's immidiate and 100% goes to the recipients. No administrative costs associated with doling it out in program form.

 

[smstonypoint]

That's exactly what I set up today. Boosted the contribution to my retirement account by 2% of my gross pay.

Good move. Back in my working years, I tried to contribute my salary increases to my retirement accounts (403b, 457). If you don't see it, you don't miss it.

But the policy makers are counting on most folks spending that 2% and boosting demand for products and services.

Steve

 

[Jim in ICT]

Just my luck that extra 2% would put me into the next higher tax bracket and I'd lose it to income taxes!

 

[RickB]

Just my luck that extra 2% would put me into the next higher tax bracket and I'd lose it to income taxes!

Another reason to defer the income like I am. Doing so improves my tax position. Beats complaining.