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Impact of Social Security tax

How will the 2 percent tax increase in Social Security impact your budget?


Add Comment Add Comment | Comments: 2 | Posted Jan. 10, 2013

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Interviews and
 Photos by Greg Bezanis


“It’s really going to hurt me and my husband because we’re already on a fixed income.” 


Bonnie Sullivan, 

18th and Wolf streets


 

 

 

 

“I’ll have to worry about my budget a little bit more. I wasn’t expecting to still be working at 69.”


Shirley Holmes, 

Broad and Jackson streets


 

 

 

 

“I’m around the corner from collecting Social Security. I hope I can get a job to contribute to it.”


Michael Burdy, 

East Moyamensing Avenue and Tasker Street 


 

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1. Anne Clark said... on Jan 10, 2013 at 02:32PM

“The tax increase creates a difference for my household of a little over $100 a month. That's a minimum of $100/month LESS that we are bringing home. Can we adjust our spending to help with this loss? Of course we can. Do we want to? Absolutely not - nor should we have to. Yes, we are part of the baby-boomers and supposedly this tax will help out in the future but what if THESE monies are misappropriated AS WELL? Where is our guarantee they won't be?? That's $100 a month less right now that we can put into our OWN savings or retirement plans and that's not right. We live in a state wehre it costs, on average, $5.29 for a gallon of MILK! My heart goes out to the families who are having their budgets impacted by this increase. All this is going to do is create a search for more loop-holes and for those of us already on a minimal income, those loop-holes are a lot less likely. At 50 yrs old we shouldn't have to find supplemental income.”

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2. Joe Condo said... on Jan 15, 2013 at 02:36PM

“At least this is something to benefit all of us. Maybe if you weren't sucking in 5 packs of cigarettes a week, you'd have a little more money in your pocket. Disgrace.”

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