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:-Funny:-:Not Funny-:

May 21st, 2008 at 02:17 pm

Funny, but not funny cartoon from CartoonStock.com -

Text is The TRUTH about pay raises at many corporations and Link is http://www.cartoonstock.com/newscartoons/cartoonists/mba/lowres/mban1971l.jpg
The TRUTH about pay raises at many corporations.

"That $20 paycheck deduction is for new benefits - like the $10 raise you just got."

ARGH. You can't put enough spin on that statement to make it look pretty!

Has anyone experienced a similar situation where you received a "raise" and then an increase in benefit costs that completely vaporized the raise and then some?

Text is Read recent posts and Link is http://iwasbroke.savingadvice.com
Read recent posts

Posted in Uncategorized | 8 Comments »

8 Responses to “:-Funny:-:Not Funny-:”

  1. Joan.of.the.Arch Says:
    May 21st, 2008 at 02:27 pm 1211380042
    1211380042

    I hear it from Social Security Medicare recipients every now and then. "We got a 3.1% cost of living raise on Social Security this year, but our contribution for Medicare went up 6%."

  2. miclason Says:
    May 21st, 2008 at 02:44 pm 1211381059
    1211381059

    in ES, there's a scale for withholding taxes...at one point, if I had gotten a 10% raise (about $70), I would have actually gotten $20 less per month.

  3. Aleta Says:
    May 21st, 2008 at 03:09 pm 1211382540
    1211382540

    I recently read that it is better to receive benefits that are not taxable rather than to get a raise. In other words your company can pay for life, disability, health insurance, and many other benefits at the companies expense but would be the same if they paid the money to you that would be taxed.

  4. A Nonni Mouse Says:
    May 21st, 2008 at 04:37 pm 1211387850
    1211387850


    I'd have to say that while the cartoon is funny it is also not funny because it is SO true for many folks.

    I am VERY fortunate in that the only tangible benefit (other than my pay, of course, and my "401-k") I receive is health-care which is funded 100% by my employer.

  5. disneysteve Says:
    May 21st, 2008 at 05:06 pm 1211389613
    1211389613

    Aleta - The one issue with that is that if your employer pays the premiums, any benefits become taxable. If you pay the premiums, the benefits are tax-free. Just something to keep in mind.

  6. Aleta Says:
    May 21st, 2008 at 05:25 pm 1211390735
    1211390735

    Health insurance is one area where the employer can pay more for the employee and the employee isn't taxed. I will look for the article.

  7. disneysteve Says:
    May 21st, 2008 at 09:40 pm 1211406026
    1211406026

    I was referring mainly to disability and probably life insurance. If your insurer pays the premiums, if you ever have to collect benefits, they are taxable. If you pay the premiums, the benefits are not taxed.

  8. Aleta Says:
    May 21st, 2008 at 09:59 pm 1211407164
    1211407164

    I was also speaking about perks on the job as well such as expenses that the company could pay that would benefit employees as well. My brother-in-laws company pays for his cell phone, car, and various other expenses. So, there are perks that one could bargain for instead of a pay increase.

    Yes the disability is taxed to the employee if they have to use it. I've been looking for the article without any luck yet. It was quite interesting.

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