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Thread: Employers In US Start Bracing For Higher Tax Withholding

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    Employers In US Start Bracing For Higher Tax Withholding

    Employers in U.S. Start Bracing for Higher Tax Withholding - Bloomberg

    Employers in the U.S. are starting to warn their workers to prepare for slimmer paychecks if Congress fails to vote on an extension of Bush-era tax cuts.

    “I’ve been doing payroll for probably close to 30 years now, and never have we seen something like this where it gets that down to the wire,” said Dennis Danilewicz, who manages payroll services for about 14,000 employees at New York University’s Langone Medical Center. “That’s what’s got a lot of people nervous. All we can do is start preparing communications with a couple of different scenarios.”

    Lawmakers won’t start debating whether to extend the cuts, which expire Dec. 31, until after the Nov. 2 elections. Because it takes weeks to prepare withholding schedules, the Internal Revenue Service will probably have to assume the cuts will expire and direct employers to increase payroll deductions starting Jan. 1, experts say.

    Making a withholding-rate change could take longer for small businesses that don’t outsource payroll services, experts said.

    Jodi Parsons, manager of payroll and accounts payable at IFMC, a health care management company based in West Des Moines, Iowa, said if the IRS issues two sets of withholding tables, her two-person office could be overwhelmed with processing changes to W-4 forms.

    Scott Mezistrano, senior manager of government relations at the American Payroll Association in Washington, said a delay in guidance from the IRS could increase costs for some small businesses.
    1. Why did the party punt?

    2. What possible justification can leadership today---IN TIMES LIKE THESE---provide the public to explain its pusillanimous, irresponsible putting off of this problem so centrally important to every mom and pop?

    3. No tax cuts for the MIDDLE CLASS.

    4. No tax cuts for ANYONE.

    5. Just a LAME DUCK.

    6. Leadership has STILL failed to lay out its intentions.

    7. What POSSIBLE justification?

    8. No American can recall the like.

    9. The party in power is plainly PARALYZED.

    10. Why, it's as bad as SACRAMENTO.

    11. As EFFETE as the EU.

    12. How can our representatives look themselves in the mirror, let alone try to talk to us thru the TV?

    13. How can these people possibly IMAGINE voters will deem them worthy of continued responsibility?

    14. Barring action demonstrably beyond the capacity of the craven crew currently occupying the Capitol, taxes on every MIDDLE EARNER are scheduled to HIKE in only SIXTY SHORT DAYS by three to five thousand dollars per household.

    15. This is completely INEXCUSABLE.

    16. The president himself has puffed repeatedly that America simply cannot afford to put so serious a squeeze on THIS middle class.

    17. Probably the prime reason our economy is as lifeless as our listless leaders is because of the cancerous UNCERTAINTY that clouds every decision of every earner, every hirer, each consumer, all investors.

    18. Doubts dog darkly the health care bill, the regulatory reform, the cap and trade...

    19. And now this---our precise relationship with the INTERNAL REVENUE SERVICE.

    20. Democrats are losing working class whites, poll after poll reports, by some 20 points.

    21. Class warfare never works---in America.

    22. If the anti-Obamite tsunami materializes which ALL the professionals predict is coming three days after the day after tomorrow, who of sober and mature caste can complain, after leadership's lame resort to a duck to decide this fundamental question, that the party punished did not richly deserve it?

    The Prof

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    Re: Employers In US Start Bracing For Higher Tax Withholding

    Add to this, Prof, the intentions of Obama to eliminate the mortgage interest deduction.

    This will lead to massive foreclosures at a scale we've never seen. We're talking raises in federal taxes to many homeowners of potentially $10,000+ per year.

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    Re: Employers In US Start Bracing For Higher Tax Withholding

    yes, erod, you're correct, he campaigned centrally on his intention to eliminate the home interest mortgage deduction, the firmest foundation of the american dream

    he also ran hard on his bid to limit the write-off for CHARITABLE GIVING

    i remember during the campaign doing the best i could to warn our neighbors of these almost unamerican ambitions of this alien upstart, but they were not at the time ready to listen

    america today is more than prepared to perceive

    indeed, we all already know

    fortunately, he aint gonna get squat of what he wants, not now, not anymore

    he's already irrelevant

    what might be somewhat surprising, if one weren't so familiar with the revolutionary mindset of the "professional left," is how there are any obamites remaining who are so completely out of touch with the american sentiment they could even attempt to apologize in public for the universal failure that is barack hussein obama

    they will get their cruel comeuppance just 3 days after the day after tomorrow

    people like you and me simply can't wait, our side has never been so energized and enthused, not in my entire lifetime of minute monitoring of united states affairs

    and that too says all

    it's gonna be great

    thanks for the feedback, it's spot on

    seeya at the precincts, all, only 3 days after the day after tomorrow

    he's gonna get the feedback he labored so hard to earn

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    Re: Employers In US Start Bracing For Higher Tax Withholding

    The lack of responses in this thread is telling.

    If Obama were to get his tax increases through, as well as his wishes to eliminate mortgage interest deductions and other credits, it would hit everyone, not just wealthy Republicans.

    Many people, if not MOST people, factor in their mortgage interest deductions when they budget for a new home. That is taken greatly into consideration when deciding how much house they can buy. And we're talking about the responsible homebuyers, not the one's that got gobbled up in the subprime crisis.

    This would destroy many Americans' financial well-being, and create a huge influx of additional government-dependent citizens. That is Obama's wet dream.

    Yep, this would hit a huge percentage of Democrat homeowners, too, which is why there is so much silence in the debate over this.

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    Re: Employers In US Start Bracing For Higher Tax Withholding

    Quote Originally Posted by Erod View Post
    The lack of responses in this thread is telling.

    If Obama were to get his tax increases through, as well as his wishes to eliminate mortgage interest deductions and other credits, it would hit everyone, not just wealthy Republicans.

    Many people, if not MOST people, factor in their mortgage interest deductions when they budget for a new home. That is taken greatly into consideration when deciding how much house they can buy. And we're talking about the responsible homebuyers, not the one's that got gobbled up in the subprime crisis.

    This would destroy many Americans' financial well-being, and create a huge influx of additional government-dependent citizens. That is Obama's wet dream.

    Yep, this would hit a huge percentage of Democrat homeowners, too, which is why there is so much silence in the debate over this.
    If you want to balance the budget, taxes have to go up somewhere. Defense spending is treated as sacred. When the Democrats "cut" medicare, they were attacked for it. Social security? No, have to save that because old people actually vote. You're out of options.

    I mean, you tell me. Conservatives think cutting more taxes will somehow fix this. Do the math for me, show me a balanced budget that doesn't include higher taxes.
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    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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    Re: Employers In US Start Bracing For Higher Tax Withholding

    Quote Originally Posted by Deuce View Post
    If you want to balance the budget, taxes have to go up somewhere. Defense spending is treated as sacred. When the Democrats "cut" medicare, they were attacked for it. Social security? No, have to save that because old people actually vote. You're out of options.

    I mean, you tell me. Conservatives think cutting more taxes will somehow fix this. Do the math for me, show me a balanced budget that doesn't include higher taxes.


    How about cutting pork, spending, and unneeded bull****?
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    Re: Employers In US Start Bracing For Higher Tax Withholding

    cutting unemployment to an 18 year low would be an excellent start

    News Headlines

    first things first, y'know

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    Re: Employers In US Start Bracing For Higher Tax Withholding

    Quote Originally Posted by Deuce View Post
    If you want to balance the budget, taxes have to go up somewhere. Defense spending is treated as sacred. When the Democrats "cut" medicare, they were attacked for it. Social security? No, have to save that because old people actually vote. You're out of options.

    I mean, you tell me. Conservatives think cutting more taxes will somehow fix this. Do the math for me, show me a balanced budget that doesn't include higher taxes.
    What happened to pay go? The answer is cut spending not raising taxes

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    Re: Employers In US Start Bracing For Higher Tax Withholding

    Quote Originally Posted by ptif219 View Post
    What happened to pay go? The answer is cut spending not raising taxes
    The answer is actually to cut spending and raise taxes.

    If you cut taxes, you will undoubtedly create a shortfall.

    See it's guys like you on the forum, that just throw around rhetoric... "Lower Taxes, and everything will be dandy"...

    Well that's what you've done for the past 10 years, Obama did cut taxes... doesn't seem to matter a whole lot to you.

    Now you could argue that Obamacare raises taxes and all this rubbish but the fact is, Taxes are not the be all and end all. A balance must be struck, if taxes were the only thing that mattered in an economy, Canada would be a **** hole right now.

    So how can it be, with our taxes higher... we're in a much better position then you? Could it be we didn't allow our banks to take the same risks yours did? We actually regulated ourselves perhaps? How communist of us.

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    Re: Employers In US Start Bracing For Higher Tax Withholding

    Quote Originally Posted by Jetboogieman View Post
    The answer is actually to cut spending and raise taxes.

    If you cut taxes, you will undoubtedly create a shortfall.

    See it's guys like you on the forum, that just throw around rhetoric... "Lower Taxes, and everything will be dandy"...

    Well that's what you've done for the past 10 years, Obama did cut taxes... doesn't seem to matter a whole lot to you.

    Now you could argue that Obamacare raises taxes and all this rubbish but the fact is, Taxes are not the be all and end all. A balance must be struck, if taxes were the only thing that mattered in an economy, Canada would be a **** hole right now.

    So how can it be, with our taxes higher... we're in a much better position then you? Could it be we didn't allow our banks to take the same risks yours did? We actually regulated ourselves perhaps? How communist of us.
    Wrong you cut spending and learn to function with in your budget as the rest of us have to do

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