Oklahoma Nesties
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Taxes impact -
I talked about this in a post a few days ago - here is the tax calculator if the cuts are not renewed by the end of the year (when they expire).....
Let me know what you think!
http://www.businessweek.com/magazine/tax-cut-paycheck-impact/
Re: Taxes impact -
I don't even know what'll happen with us since our income's going to change...
...but it doesn't look good if the cuts don't hold. Crap.
I'm not at all worried because both Dems. and Reps. both want to renew them (it's just whether it's for only those making over $250k/year or not that is the question.)
That said, we're 13 trillion dollars in debt and going 1 trillion in the hole deeper every year. At some point, some of us (all of us???) are going to have to pay more in taxes or leave our children's generation with a massive burden.
Last year, 47% of Americans paid nothing in federal taxes (that is, got back at least as much, if not more, than they put in.) That's why I think tax increases (well, at least taking taxes back to "normal") are going to have to happen across the board. You can only cut so much here and there before you either have to make massive cuts or massive income increases to balance a budget.
25% of my income goes to pay taxes. If 47% of wage earners in the US aren't paying any taxes at all, I think its time they start. Enough is enough.
As I understand it, it's not no taxes, period; it's no federal income taxes (but still paying sales tax, FICA, state taxes, etc.) You understand this article a lot better than I do, I'm sure. Can you clarify that it is, in fact the case? I've (sadly) not taken an econ class since high school
http://www.nytimes.com/2010/04/14/business/economy/14leonhardt.html
I am refering to federal income taxes which is what the article is refering to. I pay 25% of my income to pay federal taxes - this does not include state taxes, social security, state taxes, etc etc.
this makes me mad. I don't think it is right. If 47% of the people paid nothing than that means that 53% of the people paid everything. How is that okay? And I would venture to bet that most of the people who are using our tax dollars to live (food stamps, medical, etc) are in that 47% who paid nothing.
I am not saying that government assistance is wrong or not okay to use if you need it, but I think too many people take advantage of the system.
Well, only about 8% of Americans utilize programs like TANF, WIC, food stamps, Section 8, etc. so there have to be lot of working poor, working class, and even lower middle class families who aren't paying federal taxes (well, they pay them throughout the year...they just get them all refunded and with EITC, sometimes more than they paid in.)
Even so, TANF (welfare) is only 1/2 of 1% of our federal budget, is time-limited, and comes with work requirements, so I'm more than OK with it. It's Social Security and Medicare that we're spending about 1/3rd of our budget on (though I definitely don't think making elderly persons on fixed incomes pay more in taxes or take drastic cuts in benefits is the right answer, either.)
I don't know what the answer is, but do think that politicians from both parties need to stop worrying so much about getting reelected and start worrying about fixing the budget, even though it'll be political suicide (but, good luck of that happening...)
So I read it right? It got confusing for me in the middle and I figured you'd know this stuff better than any of us (you work in finance/accounting, right?)
and
Yep- absolutely. This is why I need you in my life, Critti---we complete each other
(How sucky would it be to only keep tax breaks for those making $250k+????))