Well, if we're going to do the math:
100k annual salary. EO that defers the payroll taxes (7.65%) from income 8/1/2020 to 12/31/2020 (assuming normal distribution, $33,333 earned in that period).
So, that is deferring $2,549.97 in taxes, for approximately 4 months, when you would file FY2020 in Jan 2021.
So, the difference between them on ~Feb 2021? 0.
Well, if you want to argue lost opportunity in interest/investments, assuming the S&P500 makes 10% annually throughout COVID (spoiler: it won't), those returns (something like 0.8% a month, 4 months, on monthly $637 deposits) ... about 30 bucks.
We going to keep complaining, on how Trump is for all intents and purposes, the only person who would have touched the payroll tax at all, for anybody?
Obligatory footnote: Trump says he wants to forgive the payroll taxes deferred when he wins Nov 3, which would be a fuck-yes moment.
-Trump had to make a political decision to positively impact 86% of US workers. You're arguing he should've made it for 100% ... which has this immediate consequence: the Democrats now claim Trump is only helping, and disproportionately helping his fatcat buddies (because rich people always benefit more, ya know).
-So: In reality, now we turn a political move that easily has at least 50%+ support, and make it something that probably has "less than 50% support". Is that going to hold up, or lead to any benefits to anybody? Really probably not.
-Nope. If that's the political game we have to play (and it's not our choice), then I would much rather have the overwhelmingly positive spin, get the rust off the payroll tax legislative gears, and work towards Trump's speeches goal: to get rid of the payroll tax. Sounds awesome.
Well, if we're going to do the math: 100k annual salary. EO that defers the payroll taxes (7.65%) from income 8/1/2020 to 12/31/2020 (assuming normal distribution, $33,333 earned in that period).
So, that is deferring $2,549.97 in taxes, for approximately 4 months, when you would file FY2020 in Jan 2021.
So, the difference between them on ~Feb 2021? 0.
Well, if you want to argue lost opportunity in interest/investments, assuming the S&P500 makes 10% annually throughout COVID (spoiler: it won't), those returns (something like 0.8% a month, 4 months, on monthly $637 deposits) ... about 30 bucks.
We going to keep complaining, on how Trump is for all intents and purposes, the only person who would have touched the payroll tax at all, for anybody?
Obligatory footnote: Trump says he wants to forgive the payroll taxes deferred when he wins Nov 3, which would be a fuck-yes moment.
Ok - is there a presumption that I / we don't?
-Trump had to make a political decision to positively impact 86% of US workers. You're arguing he should've made it for 100% ... which has this immediate consequence: the Democrats now claim Trump is only helping, and disproportionately helping his fatcat buddies (because rich people always benefit more, ya know).
-So: In reality, now we turn a political move that easily has at least 50%+ support, and make it something that probably has "less than 50% support". Is that going to hold up, or lead to any benefits to anybody? Really probably not.
-Nope. If that's the political game we have to play (and it's not our choice), then I would much rather have the overwhelmingly positive spin, get the rust off the payroll tax legislative gears, and work towards Trump's speeches goal: to get rid of the payroll tax. Sounds awesome.