a99kitten's Musings

All I’ve heard out of Obama/Washington is raise taxes, pay your fair share, the rich need to pay MOAR!!! But this post is not about that as that gets my BLOOD BOILING (look at my tax bill – I pay a LOT!)

No, this is about the attention NOW being given to the 2% FICA (that’s your Social Security) payroll tax “holiday” that was allowed to expire along with the other tax hikes on those “rich people”. This 2% change effected every single person who collects a pay check. So everyone had a tax hike. I won’t get into the lies Obama told about not taxing the poor and middle class blah blah blah. ALL politicians lie so it’s not like this is something original.

What I will say about it is GOOD. That 2% should be paid by everyone. These same everyones that plan on collecting social security, should have to pay for it. The company match didn’t go down at all. Companies still had to contribute the full 6% of gross payroll for YOUR social security. But you didn’t – YAY. Wait…what?

When the 2% tax “holiday” went into effect, I sent an email out to all employees at our company letting them know and pointing out that it was a good time to start contributing to a 401k or increase their contribution with this additional 2% in their pockets before they got comfortable with spending it and it was absorbed into their daily spending mindset. Time to start saving for their own retirement and not depend on social security which is a joke.

You know how many people did that? 0. Zero. Nada. Now, a few people already contributed the max for the year so they couldn’t do anything. But the rest? Well, apparently they are independently wealthy and don’t need to think about a retirement savings….

I know that not everyone can contribute the max per year. And that people have kids and budgets and emergencies come up yada yada. BUT – savings should BE part of your budget. What will you live on??? And I know what everyone made at work so not one person can cry poor to me. These weren’t minimum wage workers at a fast food chain supporting a family of 6. You can afford even a small savings budget. It adds up over time.

And when I see people walking around with the newest iGadgets, designer shoes & bags, new cars, vacations, going out all the time – but with NO savings? You are part of the problem. Did your parents or other guardian not teach you anything? Failed basic math? Planning on dying young?

So any cries about your first check of 2013 being smaller because of the tax “hike”…no. I reject this as whining. Not a tax hike anyway. Simply went back to the same rate as it was 2 years ago (after all, the Dems keep saying that about the tax brackets going back to Clinton era ranges…) It’s enforced savings. Do I think SS is a good plan. No. But that’s a whole other blog/rant.

Now, if you are in your 20s-50s right now, will you be able to collect any of that Social Security when you retire? I wouldn’t hold my breath if I were you. Start saving ON YOUR OWN. Because if even if you can collect some SS, it will NOT be enough to live on.

The government should not be responsible for you. The rich are not responsible for you. I am not responsible for you. You, and only, are responsible for you. Start acting that way.