So I got my "compensation letter" last week (the we-appreciate-you-so-much-our-company-is-doing-great-because-of-people-like-you-here's-your-crappy-raise letter) and was looking forward to seeing the slight bump in my check. Well, sorry, no, thanks to the SS tax going back up and increases in insurance, my check actually went down.
Don't get me wrong, I am truly grateful for my job, but I sure would like to see a little more "appreciation" go to employees rather than the CEO. I'm still surprised that I wasn't aware that the "fiscal cliff" deal didn't include the extension for the SS tax. I'd think that would be a headline...
Friday may be doomsday for us....ugh
I guess I will have to 'cut back' on a few things to compensate for the loss....like entertainment.
From what I understand, both side of the aisle were not in favor of further extension of decrease in SSI taxes. Would have been nice to have it go up over two year period. It hard to believe its only been 2 years since it was lowered. Got used to it fast!
You should not have been living on it anyways, it was there for us all the stimulate the economy.
In my own defense:
A) Single mother. Nuff said.
B) 1st time I have NOT been self-employed, so it never really registered on my radar that there was ever a discount in the first place
C) Would have been nice if there had been SOME kind of reminder either from my employer or the news cycle that it was happening. MANY of my direct reports came to me asking what happened to their paychecks, so lots of folks were taken off guard.
It comes up in the news around the end of the year, im shocked we even got it for 2 years.
My guess is this year they will do something else. Maybe a repeat of 2008 when we got the rebate checks.
I felt like it was in the news quite a bit actually. But we still had lots of clients (I work at a CPA firm) calling in screaming about their taxes anyway.
IMHO the tax holiday should have been done in the first place. I rather see social security reform and if you don't see why just go to any social security office and see who is waiting on line for benefits.