Posted on 08/18/2020 10:57:35 AM PDT by 11th_VA
A majority of registered U.S. voters support President Trump's recent enactment of a payroll tax cut, according to a new Just the News Daily Poll with Scott Rasmussen.
Trump earlier this month announced the cut via executive order, a measure the president took as negotiations stalled between Republicans and Democrats over a new coronavirus relief package.
Asked whether they either "favor or oppose cutting the payroll taxes for all workers and businesses," 26% of registered voters responded that they "strongly" favored it, while 26% said they "somewhat" favored it.
Slightly over a third of respondents were opposed to the measure, with 12% being "somewhat" and 23% being "strongly" against it.
Rasmussen says general support for such a cut historically trends fairly high and across ideological lines. However, when voters identify the policy with a sitting president, the results become much more aligned by partisan affiliation, he said.
Still, Rasmussen points out that among voters in this poll who only "somewhat disapprove" of the president, 48% of them nevertheless approve of the tax cut.
"Those numbers suggest the payroll tax cut might convince some of these disapproving voters that there is a reason to vote for Trump," he said. "In a close election, even a small gain among these voters could have a big impact."
The survey of 1,200 registered voters was conducted by Rasmussen using a mixed mode approach from August 13-15, 2020.
(Excerpt) Read more at justthenews.com ...
I need a tax cut on SSI income. Don’t we all?
OK, I just have a few questions, and I mean it sincerely ...
1) is this payroll tax cut, if implemented, going to be permanent?
2) If the answer to #1 is ‘yes’, and knowing that the payroll tax is used to fund Medicare and Social Security, how do we propose to fund these two major safety nets knowing that they are already running out of money?
The Democraps got owned on this one.
I think it’s an overreach, but at this point, let THEM run whining to some po-dunk Obot blackrobe to take away unemployed people’s benefits. See how well that polls, commies. You’ve been “school lunched”.
bttt
In other words there is 35% of the public who, it Trump invented a cure for cancer, would choose death from cancer over accepting help from Trump.
If I just gotta pay it back later I’m 100% against.
If I gave you an interest free loan you don’t have to pay on for eight months, but then pay it back in full, you wouldn’t take that?
Obama did it and no one said BOO.
If I don’t need the cash now I don’t need the hassle of having to pay something back later.
It is my understanding, What the President has said, is the tax cut will go til the end of the year. The President has also said, If he is re-elected, he will seek to make the 6 month period of not paying, permanent thru legislation - you would not have to pay it back. It would not be permanent going forward.
While a fun gambit there’s a lot of ifs and buts in there. If he gets re-elected. And if he gets Congressional buy in. And if those don’t happens then my paychecks will go up for 4 months and then go down for 4 months and I wind up net even with illusionary “extra” cash now that I should just leave in the bank to make up for what I’m not gonna get later.
Good. Put it in your savings account or buy a 6-month bond and call it a day. You’ll have more money when you do your normal taxes.
Regardless, don’t stop others from taking advantage of it, even if you won’t.
I’ll have a negligible amount more not even worth the trouble.
I can’t stop others from taking it. I don’t have that power. I’m just pointing out that this “loan” structure is a shell game that’s not actually going to accomplish anything. Anybody that spends the “extra” money is going to find themselves in worse shape if he can’t pull off the maneuver to make it permanent. Which will then damage the economy. It’s a bad bandaid.
When does it go into effect?
SS is a special tax. Already ruled on by the SC. Look at it as a tax for the privilege of being able to work. We all know SS is perceived as a benefit but only because most don’t know better.
SS is also funded out of the general fund that congress authorizes in the budget. As such they can decide to do away with it at anytime. Of course that is political suicide and the only reason they don’t get rid of it.
Oh and I am 100% in favor of eliminating it. It shouldn’t exist in the 1st place and is probably the biggest scam ever perpetrated on any people anywhere in the history of time.
I suspect that Trump knows this and is trying to wake people up to that fact.
Dave Champion has the definitive book on the subject. “Income tax shattering the myths”
Also of interest is the fact that never in the history of the treasury department have they ever issued a decision claiming that Americans, living and working in the US earning domestic income are subject to filing a 1040. In every treasury decision concerning the 1040 it is always about non resident aliens.
As we now live in a world of multi trillion dollar deficits that obviously will never get paid, why do we need a tax? The personal income tax takes in less than 2 trillion a year. Congress is passing spending bills with deficits of over 5 trillion this year. If they can pass those they certainly can do without the extra 2 trillion or less they take in from us. Our earning are our p[roperty and should never be subject to taxation.
That a fair way to view it, but, absent Congress giving any help, this is going to allow up front money that a lot more people will be able to use now to juice the economy and it will serve as a sort of break on the economy next year whenever taxes will be due.
But they SHOULDN’T use it until we find out if they’ll have to pay it back. The paycheck to paycheck crowd will be completely hosed by this if it winds up temporary. It’s a shell game that will screw people over.
September 1
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.