I remember in the 70s, 80s, 90s, 2000s and 2010s the IRS was used as a weapon on the American Middle Class.
President Trump just dropped the Mic on a Leftist Commie Reporter at the News Conference.
DNC was trying to hold the American Middle Class hostage by denying the unemployment benefits they caused with the Lockdowns and Trump signed the Executive order for Benefits.
I'm not trying to negate your point, just a bit of historical sharing.
In the actual Robin Hood Tales there is no "steal from the rich, give to the poor" stuff. They are about social issues "you're no better than us because of your place on society".
The Merry Men expose weakness, hypocrisy and vulnerability of the Tyranny of Prince John who is ruling while King Richard, the Lionhart, is away crusading.
It will show he makes a lot of money and paid the legally required minimum taxes. They will say he doesn't even give 30% of his income to the clinton foundation?!
They always can find something to attack you for and Trump's tax returns are thousands and thousands of pages for them to dig through and cherry pick.
"Trump wrote off $10,000 in restaurant dinners!"
"Trump wrote off his helicopter fuel because it was for the business!"
My response to accusations like this is always: "GOOD! I want a President who hates paying taxes as much as I do! I want a President who uses every single loophole to keep his money, because that's how it should be!"
I regret I have only one upvote. Yes, this is EXACTLY why they want his returns. It's an endless supply of ammunition for their nonstop war of innuendo and lies. Every single transaction can be made into a three-day media inferno.
I was thinking the records would leak, but they would once again show Trump paid more taxes than necessary, and Trump would say, "See? You didn't need to see those." And then do a victory lap or 20.
No chance his returns haven’t already been leaked. There’s just nothing of value there. The narrative that he’s hiding them is just to presume suspicion.
Libs win, you're all fucked. Probably, realistically (based on salary) you're losing like 400-600 per month in tax increases if you get a democrat. Fucked.
Get comfy for four months of this, then watch what happens when they try to reinstate it (plus, like you said, increased taxes overall)...
Not only that he just sucked all the air out of ability for them to negotiate this 3TB bill they want. They were basically holding this bit hostage while they did that. Very nice maneuver. Basically make them say it. He should even tell them if they want to pay more taxes they are free to do so. Give them the website to do it.
If you want a permanent extra 8% of your money in your bank account (15% if you are self employed), your only choice is Trump.
Calculate what this means for you, and what this means for the average American. This can buy a whole family vacation for the average household. If you are a full time worker and work the average 250 days a week, this means you can take an extra ~20 unpaid days of vacation every year and make the exact same amount of money.
This also means every company out there will see a decrease in 8% in operating costs in wages. Think about what this savings means, it can lead to more people being employed, better pay for current employees, or just a stronger valuation for the company and as a result increases in our personal investments and 401k's.
That's exactly it, there's a huge underclass that pays no taxes ever, they think this will only help rich people because they don't work, and they don't WANT to work. It's the one thing Romney was right about, the 47%.
yes, the media is pouting that it does nothing for the unemployed. no shit! for one, its in the name "payroll tax cut" if your not on a payroll, you will not benefit. it does give compaines some leeway to hire people during this time, which the "experts" say wont happen, the same "experts" who screamed the economy was going to tank if Trump got elected. this is a win win. all around, a preview of winnings in 2020. finally the President can get shit done if Reds sweep DC
We will still owe the money, this just doesn't collect it on time. Very much the same thing as the Bush $300 for everyone shit. I'm not a fan of this action. Either it's my money or it isn't.
Even for the not self employed, some employers will use the extra money there to give employees a raise, as they already consider payroll taxes as part of the true cost for giving someone a salary.
Filed electronically and the results were quick but then had to add an additional form which made it a paper filing delay going on now since February. IRS on-line just says they're "processing". It's ridiculous because it's a significant refund.
"Muh social security And Medicade!!!!! Think of the seniors." Hey dumbass, they'll get theirs no matter what. We genx and beyond aren't getting shit. So do away with it!
Social security is already bankrupt. It's a scam, a ponzi scheme.
Young people and middle-aged people are paying into a trust fund that Congress steals out of consistently to pay for their pet projects, and we'll never see any benefits when we get old.
Yet these libtards are just repeating what they've been told by the fake news and Democrats, not knowing or caring that they're supporting and paying into a scam this whole time.
I think you'll get your SS. There's always a "failure date" that can be computed for SS, but Congress comes up with a bandaid fix every decade or so to kick it down the road. The date you got may have been a required disclosure based on current data.
I'm fucked. Someone who makes less that me will actually end up bring home a lot more now. There is going to by a place between 100K and about $140 where it will make no sense to be.
A hundred k where I am is vastly different than 100k somewhere else, just like 600 bucks a week is a lot more money in some parts of the country than others.
My wife relies on our tax refund like some kind of consoomer, so she was concerned.
I still do not understand why she is OK giving the government an interest free loan for 12 months.
This gives me the perfect chance to move that money into a separate account to make money for us and our family and then give her what I was planning on getting in taxes anyway. She’ll thank me in 10 years when we have an extra 100k.
The thing is I was once terrible with money, in 10K+ debt, made bad choices, etc... She is the official "banker" of the house, so yea, its about a balance of responsibilities.
I've grown up and can now budget like a MF, but you gotta break the rules in order to prove yourself sometimes.
Self-employed individuals pay 12.4% toward Social Security and 2.9% for Medicare, for a total of 15.3%. They also are subject to the Medicare surtax for wages over $200,000, which I believe is an additional 0.9%.
Not sure if President Trump's proposal includes self-employed individuals.
Income tax is different than payroll taxes. Income tax rate is 10% for the first $10,000 or so that you make, then the rate is 12% for your next like $30,000 of earnings. The brackets keep going up as your earn more money. The highest bracket is 37% for the portion of your earnings that exceeds $500,000 or so.
Payroll tax rates stay the same from your first dollar of earnings all the way up to the cap (which is like $137k for SS).
However, if this executive order also means the employer doesn't have to pay it either, then the employer now has more untaxed money to spend on payroll, as that's what it was allocated for. Many employers would be happy to give you a raise for that amount, as they already consider it the cost of keeping you on the payroll and already allocated specifically for you.
Payroll tax means your employer withholds part of your pay from each of your paychecks - the withheld amount is to pay your Federal, Medicare, Social Security, and State (if applicable) taxes. This way the employee is steadily paying their taxes throughout the course of the year, rather than having to pay a huge amount at the end of the year.
In the case of Trump's payroll tax cuts - it's limited to cutting Social Security and Medicare (not Federal and of course not State).
This is incorrect. You are describing tax withholding. “Payroll tax” refers to the combination of social security and Medicare taxes. These are regressive taxes which Democrats are supposed to be against. But just watch how much they whine about this.
No, I am correct that payroll tax does include ALL taxes withheld from pay, including federal & state, and employee tax withholding IS payroll tax on the employee. I read his question to mean he is self-employed in a one-man business and is wondering about payroll taxes for employees, and so I explained to him payroll tax includes Social Security, Medicare, and State - in addition to Federal, which he already seemed to know. I didn't speak to the specifics of the Trump cuts b/c his question wasn't on that. But I did go back and add a comment about Trump's payroll cut applying specifically to SS & Medicare.
◇
The payroll tax is a multitude of taxes that are paid by the employer, and in some cases, withheld from an employee's paycheck. The employer then remits these taxes to the appropriate tax authority.
There are numerous types of payroll taxes, including:
Federal income tax withholding
Social Security tax withholding
Medicare tax withholding
Additional Medicare tax withholding
State income tax withholding
Various local tax withholdings (city, county, school district)"
The 16th Amendment of 1913 was a terrible moment for the USA and accelerated us to the federal debacle we face today. The fact that we tax the working person's dollar more than anything else is a moral disgrace and epitomizes just how disconnected our government has become from the Western principles that made it all happen.
Slashing payroll taxes and cutting all of that federal waste will cause the economy to surge!
1913 also saw the Federal Reserve act come along as well...
Uh serious question though, how does SS and Medicare stay funded without it? Don’t get me wrong, I’d love to cut payroll out indefinitely, but those programs really aren’t sustainable and those two programs are necessary. Is there something I’m missing? I wouldn’t assume that Congress is going to stop dipping into those programs. They’d definitely let our parents and grandparents starve and go without healthcare coverage before they cut a penny themselves.
That’s actually my point (+1 you’re completely right and I fully agree). They’re funded almost entirely by payroll taxes. Without the payroll taxes, the Ponzi scheme that is Medicare and SS completely collapses. In an ideal world Congress balances the budget, but in reality RINOS and Democrats steal from our seniors who have paid into the system and truly can’t re-enter the workforce.
The EO literally says “ any bi-weekly pay period generally is less than $4,000, calculated on a pre-tax basis”. It no where says $100,000. I make less than $100,000 and my pretax check is above $4,000. I won’t say what is after tax but it makes my blood boil.
Deferred now, if elected he will make it permanent. That felt a little weird. I'm wondering if it would need to be done next year after april 15 or something.
Per Reddit/Politics this the headline they post..."Trump Just Admitted on Live Television He Will 'Terminate' Social Security and Medicare If Reelected in November."
This age of misinformation is ridiculous. He did not say that. If you count the unfunded liabilities established the social programs of the great society...our country is already bankrupt. Compliments of the Democrats and Big R Republicans over the last 80 years.
The wannabe Socialists, Communists, and Facists (all Democrats and Rhinos) are just upset they cannot spend that money through special interests, while Trump just gives it back.
This isn't the best idea for permanent tax cuts. Payroll taxes are some of the only taxes the lower income brackets pay. It gives them even less reason to care about bloated spending because then they will have even less skin in the game. I'm fine with this as a temporary stimulus, but we shouldn't want this to be permanent. It will only result in more freeloaders.
Most people have no idea how much they're losing due to the payroll taxes. Those at the low end aren't even aware they have any skin in the game.
However, if you give them a taste, that hey, did you know the government steals 15% of each paycheck, a lot of them will start to question taxes.
People need to be aware they actually work for a living most of the year, but they perform 1.5 months of slave labor for the government (and it's even worse once you start hitting the various tax brackets).
Ending payroll tax permanently would mean removing basically all of the funding for Social Security and Medicare. Those programs could coast for a while on the money they have saved, and then I guess they would be gone. People around here are being weirdly dismissive of the political feasibility of just ending SS and Medicare
The eligibility seems to be hard capped and not marginal. Another package that excludes me and my very middle class family. Also can we please index for cost of living? I’ve yet to be eligible for any of these relief packages yet my company has made me “volunteer” a percentage of my salary back.
I like this 'adult in the room' Trump. He has a way of buckling down when it's really needed to deliver. I feel like hes getting locked in for the election. This was a brilliant move. Either make Dems concede or have the voters see Dems sue to stop money from getting to the voters. Bot a good look. I bet Pelosi concedes. She cant be seen as actively trying to take about $400 + dollars each week from ppl. Such a bad look. I love how he called the GND "childish" Just dismissing it as the nonsense it is. The ppl who cosponsored it didn't even vote for it. Remember how mad they were when McConnell held a vote
I remember in the 70s, 80s, 90s, 2000s and 2010s the IRS was used as a weapon on the American Middle Class.
President Trump just dropped the Mic on a Leftist Commie Reporter at the News Conference.
DNC was trying to hold the American Middle Class hostage by denying the unemployment benefits they caused with the Lockdowns and Trump signed the Executive order for Benefits.
Trump said they've stolen trillions from us and he was going to get it back. The working American is the victim. Robin hoodish for sure.
I'm not trying to negate your point, just a bit of historical sharing.
In the actual Robin Hood Tales there is no "steal from the rich, give to the poor" stuff. They are about social issues "you're no better than us because of your place on society".
The Merry Men expose weakness, hypocrisy and vulnerability of the Tyranny of Prince John who is ruling while King Richard, the Lionhart, is away crusading.
Anti-aristocrat, one might say
They were pro Richard though. Pro benevolent aristocracy. That each man should be a servant to his position, not an exploiter of it.
Oh, my bad then, I thought ‘aristocratic’ was another word for ‘powerful asshole who abuses his position and thinks he’s better than the lower people’
The socialists have taught you well, tovarisch.
...wow, yeah, it didn’t even occur to me that I assumed ‘aristocrat’ was an insult.
Uh oh... dems are going to cheat more now, and have the IRS back em up. Probably think a leak of Trump's tax returns will be in near future.
What could they possibly show? He's audited constantly and has never had any issues.
Like that matters. Things that aren't crimes are now punishable by the MSM. The BBC (Black Bloc Cops) will be cumming to your door soon.
An oldie but a goodie
And to no ones surprise, the dumb ass still didn't see the light on how pathetic their life actually is.
It will show he makes a lot of money and paid the legally required minimum taxes. They will say he doesn't even give 30% of his income to the clinton foundation?!
They always can find something to attack you for and Trump's tax returns are thousands and thousands of pages for them to dig through and cherry pick.
"Trump wrote off $10,000 in restaurant dinners!"
"Trump wrote off his helicopter fuel because it was for the business!"
Shit like that.
Hardly anyone cares anymore
All of the chaos the left has created has caused people to not give a fuck about Trump’s flaws
I think he's mostly been hiding his tax returns to fuck with the Democrats. They'll find nothing at all.
My response to accusations like this is always: "GOOD! I want a President who hates paying taxes as much as I do! I want a President who uses every single loophole to keep his money, because that's how it should be!"
I regret I have only one upvote. Yes, this is EXACTLY why they want his returns. It's an endless supply of ammunition for their nonstop war of innuendo and lies. Every single transaction can be made into a three-day media inferno.
He gave someone too big of a tip and that person didn't claim it on their taxes, therefore fraud and corruption bigly.
I've just assumed that was going to be the October surprise this whole time.
That just means something even better will be the October surprise!
I was thinking the records would leak, but they would once again show Trump paid more taxes than necessary, and Trump would say, "See? You didn't need to see those." And then do a victory lap or 20.
No chance his returns haven’t already been leaked. There’s just nothing of value there. The narrative that he’s hiding them is just to presume suspicion.
I bet people would literally revolt if they ever tried doing that
I doubt it. I bet people would have said the same about being forced to wear masks and lock down in their homes for 8 months
Unfortunately, you're right. Our (non) response to the lockdown has been eye-opening and saddening.
This is 4D chess, big time.
I love it.
Libs win, you're all fucked. Probably, realistically (based on salary) you're losing like 400-600 per month in tax increases if you get a democrat. Fucked.
Get comfy for four months of this, then watch what happens when they try to reinstate it (plus, like you said, increased taxes overall)...
Who the hell would want that?
“I don’t want this money because Trump is the one giving it to me”
-democrats, probably
Not only that he just sucked all the air out of ability for them to negotiate this 3TB bill they want. They were basically holding this bit hostage while they did that. Very nice maneuver. Basically make them say it. He should even tell them if they want to pay more taxes they are free to do so. Give them the website to do it.
Just the payroll tax is over $500 per month just from me. Over $1,000 from my family. Every single month.
If you want a permanent extra 8% of your money in your bank account (15% if you are self employed), your only choice is Trump.
Calculate what this means for you, and what this means for the average American. This can buy a whole family vacation for the average household. If you are a full time worker and work the average 250 days a week, this means you can take an extra ~20 unpaid days of vacation every year and make the exact same amount of money.
This also means every company out there will see a decrease in 8% in operating costs in wages. Think about what this savings means, it can lead to more people being employed, better pay for current employees, or just a stronger valuation for the company and as a result increases in our personal investments and 401k's.
This is fucking HUGE!
Bu bu but 8 to 15% of 0 is still zero! ANTIFA and BLM BTFO!!!
That's exactly it, there's a huge underclass that pays no taxes ever, they think this will only help rich people because they don't work, and they don't WANT to work. It's the one thing Romney was right about, the 47%.
yes, the media is pouting that it does nothing for the unemployed. no shit! for one, its in the name "payroll tax cut" if your not on a payroll, you will not benefit. it does give compaines some leeway to hire people during this time, which the "experts" say wont happen, the same "experts" who screamed the economy was going to tank if Trump got elected. this is a win win. all around, a preview of winnings in 2020. finally the President can get shit done if Reds sweep DC
I'm pretty sure he meant "permanent" as the holiday won't be deferred.
Yeah thats an interesting sticking point. Are we suddenly going to owe an extra 8% on 4 months of income come January 1st?
We will still owe the money, this just doesn't collect it on time. Very much the same thing as the Bush $300 for everyone shit. I'm not a fan of this action. Either it's my money or it isn't.
Even for the not self employed, some employers will use the extra money there to give employees a raise, as they already consider payroll taxes as part of the true cost for giving someone a salary.
Actually still waiting for my Fed income tax return, mailed both ca n Fed out week or 2 b4 lockdown started... anyone else w/ this issue?! Maga2020
Interesting said it should b DD by Aug 10...b down for sum added interest Blahaha on $14 fuck my sweet ass fml Maga2020
Yeah mine didn’t come until last month.
Filed electronically and the results were quick but then had to add an additional form which made it a paper filing delay going on now since February. IRS on-line just says they're "processing". It's ridiculous because it's a significant refund.
We sent ours out jan 30 and by feb 20 we had our money deposited in bank from feds. Corrupt state of NJ sent it to us end of feb
That's what i heard too, they were processing e-files quickly but didn't touch the mailed returns for a couple months
An instrumental power shift back to the people. More of your own money(time) in YOUR control = freedom.
Fuck Chyna. They gonna pay for the cuts. We will save a lot. MAGA
Art of the Deal. This sets the table as his outrageous opening offer for the upcoming 2021 budget negotiations.
If an audit proves the FED has been corrupt all this time, 26$ trillion in debt goes poof.
"Muh social security And Medicade!!!!! Think of the seniors." Hey dumbass, they'll get theirs no matter what. We genx and beyond aren't getting shit. So do away with it!
Social security is already bankrupt. It's a scam, a ponzi scheme.
Young people and middle-aged people are paying into a trust fund that Congress steals out of consistently to pay for their pet projects, and we'll never see any benefits when we get old.
Yet these libtards are just repeating what they've been told by the fake news and Democrats, not knowing or caring that they're supporting and paying into a scam this whole time.
I think you'll get your SS. There's always a "failure date" that can be computed for SS, but Congress comes up with a bandaid fix every decade or so to kick it down the road. The date you got may have been a required disclosure based on current data.
I think he only means partial cuts are made permanent. Full amount for the holiday though
Anyone know if 100K is family or individual?
I'm fucked. Someone who makes less that me will actually end up bring home a lot more now. There is going to by a place between 100K and about $140 where it will make no sense to be.
Is it marginal rate or cliff? If marginal that is huge for people in our bracket.
It's certainly going to be marginal, it'd be unthinkable to do "you're one penny over so now you owe ALL OF IT".
A hundred k where I am is vastly different than 100k somewhere else, just like 600 bucks a week is a lot more money in some parts of the country than others.
That's not the point I'm making. It's about where the taxes cut in and what that means when you cross the threshold.
That makes much more sense.
No, I'm in the same boat. I make just over 100k, but believe me; I'm not rich. I make what I do bc of the cost of living where I am.
same here
Medicare and SS withholding are based on the individual.
INCOMING NUKE ⚛💣⚡🔥💥😜🐸👍🍿💘
Neat
My wife relies on our tax refund like some kind of consoomer, so she was concerned.
I still do not understand why she is OK giving the government an interest free loan for 12 months.
This gives me the perfect chance to move that money into a separate account to make money for us and our family and then give her what I was planning on getting in taxes anyway. She’ll thank me in 10 years when we have an extra 100k.
Tell your wife to learn how to budget.
The thing is I was once terrible with money, in 10K+ debt, made bad choices, etc... She is the official "banker" of the house, so yea, its about a balance of responsibilities.
I've grown up and can now budget like a MF, but you gotta break the rules in order to prove yourself sometimes.
Yeah this is freaking huge. It Almost covers my house payment. Can you imagine all of a sudden someone pays 3/4 of your house payment monthly?
Can someone explain payroll tax to those that are self employed? Is it the same thing as federal income tax or something different?
Self-employed individuals pay 12.4% toward Social Security and 2.9% for Medicare, for a total of 15.3%. They also are subject to the Medicare surtax for wages over $200,000, which I believe is an additional 0.9%.
Not sure if President Trump's proposal includes self-employed individuals.
Income tax is different than payroll taxes. Income tax rate is 10% for the first $10,000 or so that you make, then the rate is 12% for your next like $30,000 of earnings. The brackets keep going up as your earn more money. The highest bracket is 37% for the portion of your earnings that exceeds $500,000 or so.
Payroll tax rates stay the same from your first dollar of earnings all the way up to the cap (which is like $137k for SS).
However, if this executive order also means the employer doesn't have to pay it either, then the employer now has more untaxed money to spend on payroll, as that's what it was allocated for. Many employers would be happy to give you a raise for that amount, as they already consider it the cost of keeping you on the payroll and already allocated specifically for you.
Payroll tax means your employer withholds part of your pay from each of your paychecks - the withheld amount is to pay your Federal, Medicare, Social Security, and State (if applicable) taxes. This way the employee is steadily paying their taxes throughout the course of the year, rather than having to pay a huge amount at the end of the year.
In the case of Trump's payroll tax cuts - it's limited to cutting Social Security and Medicare (not Federal and of course not State).
This is incorrect. You are describing tax withholding. “Payroll tax” refers to the combination of social security and Medicare taxes. These are regressive taxes which Democrats are supposed to be against. But just watch how much they whine about this.
No, I am correct that payroll tax does include ALL taxes withheld from pay, including federal & state, and employee tax withholding IS payroll tax on the employee. I read his question to mean he is self-employed in a one-man business and is wondering about payroll taxes for employees, and so I explained to him payroll tax includes Social Security, Medicare, and State - in addition to Federal, which he already seemed to know. I didn't speak to the specifics of the Trump cuts b/c his question wasn't on that. But I did go back and add a comment about Trump's payroll cut applying specifically to SS & Medicare.
◇
[https://study.com/academy/lesson/what-is-payroll-tax-definition-example.html]
Sorry democrats, no pet project bullshit for you asshoes.
You realize Congress passed the Tax Cuts and Jobs Act in 2017 and President Trump signed it into law, right?
Unfortunately much of that act as related to the individual is set to sunset in 10 years, it was not permanent.
The 16th Amendment of 1913 was a terrible moment for the USA and accelerated us to the federal debacle we face today. The fact that we tax the working person's dollar more than anything else is a moral disgrace and epitomizes just how disconnected our government has become from the Western principles that made it all happen.
Slashing payroll taxes and cutting all of that federal waste will cause the economy to surge!
1913 also saw the Federal Reserve act come along as well...
Uh serious question though, how does SS and Medicare stay funded without it? Don’t get me wrong, I’d love to cut payroll out indefinitely, but those programs really aren’t sustainable and those two programs are necessary. Is there something I’m missing? I wouldn’t assume that Congress is going to stop dipping into those programs. They’d definitely let our parents and grandparents starve and go without healthcare coverage before they cut a penny themselves.
That’s actually my point (+1 you’re completely right and I fully agree). They’re funded almost entirely by payroll taxes. Without the payroll taxes, the Ponzi scheme that is Medicare and SS completely collapses. In an ideal world Congress balances the budget, but in reality RINOS and Democrats steal from our seniors who have paid into the system and truly can’t re-enter the workforce.
For households making $100k and below. I’m at least pretty happy with the original trump tax cut that applied to everyone :)
The EO literally says “ any bi-weekly pay period generally is less than $4,000, calculated on a pre-tax basis”. It no where says $100,000. I make less than $100,000 and my pretax check is above $4,000. I won’t say what is after tax but it makes my blood boil.
https://www.whitehouse.gov/presidential-actions/memorandum-deferring-payroll-tax-obligations-light-ongoing-covid-19-disaster/
It's $4k on a bi-weekly basis. There's 26 pay periods for bi-weekly. 26 x $4k is $104,000. How is your pretax higher if your salary is less?
Looks like I’m semi monthly. 24 paycheck.
How did you get a pay cut?
They're an exlibtard, but apparently still retarded.
Can someone explain this to me? Do we get to keep the money or is it just "deferred" and we have to pay it all later?
Deferred now, if elected he will make it permanent. That felt a little weird. I'm wondering if it would need to be done next year after april 15 or something.
Per Reddit/Politics this the headline they post..."Trump Just Admitted on Live Television He Will 'Terminate' Social Security and Medicare If Reelected in November."
This age of misinformation is ridiculous. He did not say that. If you count the unfunded liabilities established the social programs of the great society...our country is already bankrupt. Compliments of the Democrats and Big R Republicans over the last 80 years.
The wannabe Socialists, Communists, and Facists (all Democrats and Rhinos) are just upset they cannot spend that money through special interests, while Trump just gives it back.
Those clowns will just borrow more money anyway.
The great thing about this? If Trump said it, believe it. I've never been able to say that about any politician before him.
Hey shitbag politicians, now that there's less tax revenue coming in, you better spend more wisely 😇
No more dipping into the cookie jar
This isn't the best idea for permanent tax cuts. Payroll taxes are some of the only taxes the lower income brackets pay. It gives them even less reason to care about bloated spending because then they will have even less skin in the game. I'm fine with this as a temporary stimulus, but we shouldn't want this to be permanent. It will only result in more freeloaders.
Most people have no idea how much they're losing due to the payroll taxes. Those at the low end aren't even aware they have any skin in the game.
However, if you give them a taste, that hey, did you know the government steals 15% of each paycheck, a lot of them will start to question taxes.
People need to be aware they actually work for a living most of the year, but they perform 1.5 months of slave labor for the government (and it's even worse once you start hitting the various tax brackets).
Interesting
Ending payroll tax permanently would mean removing basically all of the funding for Social Security and Medicare. Those programs could coast for a while on the money they have saved, and then I guess they would be gone. People around here are being weirdly dismissive of the political feasibility of just ending SS and Medicare
The eligibility seems to be hard capped and not marginal. Another package that excludes me and my very middle class family. Also can we please index for cost of living? I’ve yet to be eligible for any of these relief packages yet my company has made me “volunteer” a percentage of my salary back.
They'd just be fucked
Let’s fucking go!!!!!!! WINNING!!!!! Best President Ever!!!!!!!!!!!!
He is out Democrating the Democrats and is teaching Republicans 3D politics.
Hehehehe!!!!
Omfg, this would be amazing. Now please Congress, cut spending too. I'll happily take a 5% cut across the board as a start.
I'd be happy if they eliminated baseline budgeting.
So... I’m tax dumb. What happens with our tax liability or with our responsibility to pay on April 15th?
NESARA/GESARA soon frens...soon
With no national debt you do t need taxes. Did I mention the debt is being wiped clean...money coming back to us...fed reserve finished.
Elaborate?
Holy shit.
This was what I needed today.
MAY terminate
What he signed into law was tax deferment and plans to make the paying of those 4-5 month go away. He doesn't mean that you wont pay ever...
I don’t think he will be able to do that. Lots of republicans and dems would be against that.
TAXATION
I am busy for ONE FUCKING DAY and Trump cuts my taxes.
Is it a loan or a cut?
I like this 'adult in the room' Trump. He has a way of buckling down when it's really needed to deliver. I feel like hes getting locked in for the election. This was a brilliant move. Either make Dems concede or have the voters see Dems sue to stop money from getting to the voters. Bot a good look. I bet Pelosi concedes. She cant be seen as actively trying to take about $400 + dollars each week from ppl. Such a bad look. I love how he called the GND "childish" Just dismissing it as the nonsense it is. The ppl who cosponsored it didn't even vote for it. Remember how mad they were when McConnell held a vote
I dont think biden knows (intentional pause) lmfao