What You Can Buy With Your Payroll Tax Cut From Congress

 

After all of the drama, Congress managed to push through a payroll tax cut extension just before the holidays. The payroll tax cut was extended for two months, saving the average taxpayer a grand total of $166.

These days, that won�t get you very far. Depending on where you live, it works out to:

• 43 gallons of gas
• 84 loaves of bread
• 277 pounds of potatoes
• 49 gallons of milk
• 11 pizzas
• 14 movie tickets in Philadelphia
• 79 cups of Starbucks coffee
• 2/3 of a seat at a Lakers game (or a pair of seats at a 76ers game with money left over for snacks and beer)
• 377 postage stamps
• 74 New York City subway tickets
• 187 hamburgers at McDonald�s (or 1,107 hamburgers when McDonald�s first opened)
• 50 minutes of time for an average lawyer
• 2.55 hours of time for an average electrician
• 167 newspapers
• 35 packs of cigarettes

* Commodities prices courtesy of The People History except where otherwise noted, obvious (like stamps) or city/brand name specific.

Just for fun, I asked folks on Twitter and Facebook how they would spend it. Here�s what they had to say:

• Angela Backus: Go to the Las Vegas Hilton and get a massage by Juan.
• Andrea Schneider: buy a few more Christmas gift items! I didn�t quite get everyone!!!
• Robert Phillips: Fill my truck up twice!
• Angie Kenison DeLong: It could cost the small business owner more than $166 to comply with modified payroll reporting requirements for two months. (taxgirl note: completely agree!)
• Johanne Vickers Hayes: Get groceries
• Dawn Pelej: I was going to say what Angie said. Pay my payroll company�s additional fees for this bs payroll tax extention.
• Erica R Barber: I would put it in my hsa account because as I cross into the new year I face a $400 prescription every 30 days until I pay $2500
• Larry Brown: Take my wife out for a nice dinner alone, and maybe catch a movie.
• Marta Ramirez Rodriguez: i would use the money on a trip so my daughter could spend the holidays with her daddy. =) Merry Christmas everyone!
• @Your911NotMine: I would give it to the food pantry I help run. $166 will provide 25 families with groceries.
• @aggerj: $166 = buy an iPod Touch
• @RSeanOConnell: anything and everything I want to do!!
• @mona57: pay for my new monthly prescription which now cost about 100 a month and my kid�s college bill. My health insur. don�t for script.
• @PhillyGG: Get PECO off my case.
• @appealofwords: I might consider splurging on @typogforlawyers� �Equity� font.
• @PeteTerranova: Being a CPA, I suppose I�d use $166 to pay off debt but I�d rather buy one of those fancy coffee machines.
• @sharynesque: Pay off less than 1/1,000th of my law school debt.

As for me? I should use it to pay off law school debt a la @sharynesque but if I could pick anything, I�d spend it on iTunes, tax related apps for my laptop and non kid-related books!

How would you spend $166?

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