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Social Security Payroll Taxes Reduced in 2011

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  • #16
    It's about time the republicans, some democrats and the president compromise to get something done. I'm actually proud of Obama for the second time ever that he worked bipartisan to get something done.
    I think it is third time for me! After authorizing shooting those pirates by the Navy seals and authorizing more troops to Afghanistan. Now the compromise. Hopefully there will be more to come.

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    • #17
      Originally posted by Homebody View Post
      I think it is third time for me! After authorizing shooting those pirates by the Navy seals and authorizing more troops to Afghanistan. Now the compromise. Hopefully there will be more to come.
      I forgot about the pirate shooting. That was a good commander in chief decision. Although, 95% of what Obama does I don't agree with, but every once in a while he does something amazing.

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      • #18
        I'll be using the $300 to pay toward my second mortgage. If I can keep up at that pace it will be paid off 2 years from now. That will be a happy day.

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        • #19
          Neither DH nor I pay SS so there is no benefit here (government jobs). Of course that also means no SS once we retire.

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          • #20
            Originally posted by snshijuptr View Post
            Neither DH nor I pay SS so there is no benefit here (government jobs). Of course that also means no SS once we retire.
            My wife and I have both paid SS (currently she is the only one working) so I really appreciate the benefit, especially since all she got in the past was $0 from "making work not pay" because of income cutoff limits. Oh, and there will probably be no SS for us when we retire also because we plan to save separately and SS will end up being means tested somehow.

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            • #21
              Originally posted by snshijuptr View Post
              Neither DH nor I pay SS so there is no benefit here (government jobs). Of course that also means no SS once we retire.
              Good for you. Last SS bulletin that I got said, if nothing is being changed we will run out of SS fund in 2037.

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              • #22
                Not sure what I will do with the extra money.

                I will do either

                1) Increase my percentage that I contribute to my 401k - Currently 6%
                2) Increase my EF - Currently $50 a month

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                • #23
                  I've decided our 2% will go into my husband's TSP. It helps reduce our taxable income that way, too.
                  My other blog is Your Organized Friend.

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