Tax hike impacting family budgets

Families across the country are seeing hundreds of dollars in cuts from their paychecks and some are struggling to pay the bills.

FILE - (AP Photo/J. Scott Applewhite)

SEVIERVILLE, Tenn. (WVLT) -- Families across the country are seeing hundreds of dollars in cuts from their paychecks and some are struggling to pay the bills.

Lisa Enix says she's already noticed money missing from her paycheck. As a single mom she says it's been hard to feed her children, buy clothes and provide them with the life she wants too.

"That's what it is, paycheck to paycheck. For fun you watch movies at home," said Enix. "You can't provide the way you want too for your family. It's just gotten way out of hand."

In 2011 the government added 2% back into our paychecks as a way to stimulate the economy. The cut was extended in 2012, but it was allowed to expire this year. Now everyone's paying hundreds of dollars more.

Smoky Mountain Area Rescue Ministries provides a thrift store for the community and helps families who need help paying their bills. On Monday, 4 families reached out to SMARM for help saying they didn't have enough to pay their rent.

"It's going to be a real difficult situation for them to be able to cope with," said Dick Wellons, Executive Director of SMARM. "We're just trusting that the weather doesn't stay extremely cold because that means their utility bills go up."

Wellons says the group is already helping more people since January 1st when many tourist attractions closed for the season. He hopes the tax increase won't keep people from vacationing this summer so his clients can get back to work when the weather gets warmer.

Here's a breakdown of what the 2% Social Security Tax Increase will mean for you:
Income Tax Increase per year
$5,000 $100
$10,000 $200
$15,000 $300
$20,000 $400
$25,000 $500
$30,000 $600
$35,000 $700
$40,000 $800
$45,000 $900
$50,000 $1,000
$55,000 $1,100
$60,000 $1,200
$65,000 $1,300


Join the Conversation!

To comment, the following rules must be followed:

  • No Obscenity, Profanity, Vulgarity, Racism or Violent Descriptions
  • No Negative Community Comparisons
  • No Fighting, Name-calling, or Personal Attacks
  • Multiple Accounts are Not Allowed
  • Stay on Story Topic

Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.

Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Links require admin approval before posting.
Questions may be sent to webmaster@wvlt-tv.com. Please provide detailed information.

powered by Disqus

WVLT VOLUNTEER TV

6450 Papermill Drive Knoxville, TN 37919 Phone - (865) 450-8888; Fax - (865) 450-8869
Copyright © 2014 WVLT-TV Inc. - Designed by Gray Digital Media - Powered by Clickability 185936302 - local8now.com/a?a=185936302
Gray Television, Inc.