Posted on 03/17/2020 9:56:35 AM PDT by ChicagoConservative27
Treasury Secretary Steven Mnuchin said Tuesday the Trump administration is working with Congress on a plan that would send checks to Americans in an effort to blunt the coronavirus pandemic’s effect on the economy.
“We are looking at sending checks to Americans immediately,” Mnuchin told reporters. “Americans need cash now and the president wants to get cash now. And I mean now, in the next two weeks.
“We want to make sure Americans get money in their pockets quickly,” Mnuchin said at a White House briefing on the virus. “We want to make sure small business owners have access to the funds. We want to make sure airlines, hotels. We have an entire package.”
He said President Trump has also floated the idea of a payroll tax holiday.
(Excerpt) Read more at nypost.com ...
I’m gonna spend the majority of mine on drugs and hookers.
Then I’ll just squander the rest on something stupid.
Hopefully you don’t live in Now Orleans, where the mayor wants to ban alcohol and gun sales.
Ok, I’ll take your word for it but withholding actually is a payroll tax. It’s one of 4.
From Bankrate.com
“There are four basic types of payroll taxes: federal income, Social Security, Medicare, and federal unemployment. ... The employee pays a 6.2 percent tax for Social Security expenses and 1.45 percent for Medicare. The employer must match the deduction and send the total amount to the IRS.”
Gold was $20/ounce when FDR came into office.
FDR arranged to buy $14 billion of it to drive its price up to $35/ounce, squandering billions of 1930’s dollars.
A mansion might have cost $16,000 in 1929. The same mansion might be worth $1 million now.
Microsoft is a great deal right now.
I need my $$ asap to buy a new gun. My wife will spend her money at the casino.
Direct deposit? I wonder how many scammers there will be by calling for your bank details so you can receive your government check; also, do folks on SS get one as well? OTOH, USPS closed down because of virus? The check is in the mail.
Illegals will be drinking early today.
$1000.00 checks coming to everyone’s mailboxes? That will spur somw activity.
If you want to help workers and increasing wages/employment then kill H-1B and put up a uniform 20% import tariff. That would be REAL help going forward.
Nope we are tucked away in an evergreen forest surrounded by mountains a jillion miles away from Orleans and its moron of a mayor.
The stock market is suffering because the communist wolves are howling.
I suggest the following constitutional amendment to strengthen the stock market:
SECTION 1. Federal employer/income taxation may be levied at no more than 24/20ths of existing rates. Federal employer/income taxation limits/rates/rate thresholds may be changed by no more than 1/20th in any year.
SECTION 2. A federal statutory financial imposition may only be levied/increased under then existing law or with the same day approval of at least two-thirds of the members of both the House of Representatives and the Senate.
SECTION 3. All amounts collected from federal estate taxation shall be used to pay down the existing national debt and that distinctly refinanced, or refunded.
SECTION 4. There shall be no multi-state/federal wealth or property taxation except that estate taxation and real property taxation in what is now the District of Columbia.
SECTION 5. The federal government shall not issue loans or except, via limited liability corporations set up under federal law without recourse to the Treasury, guarantee debt other than of the general national debt.
SECTION 6. No person may be elected or otherwise placed into a federal Constitutional office for a subsequent term while the national debt of the United States exceeds $30 trillion.
SECTION 7. The President shall have budgetary line item veto power.
SECTION 8. The House of Representatives shall be composed of members chosen every fourth year, two years after every Presidential election, by the qualified voters of the several states.
SECTION 9. The Supreme Court shall not have more than nine justices.
True. My apologies for any confusion in the nomenclature. The term “payroll tax” is often used to describe any and all taxes that are withheld and show up on an employee’s pay statement. I use the term — and I believe professionals in finance use it — to describe only those taxes that are applied to employee pay and matched by employers. Your employer matches the Social Security and FICA taxes you pay. Your employer withholds income taxes from your paycheck and sends that money to the IRS, but it doesn’t match any of it.
FINALLY someone gets it!
I agree 100 percent.
The economy was roaring. Look at the February job numbers.
And then came this virus, and all economic hell breaks lose.
This isn’t due to bad banks, or playing the stock market of margins—nothing like that.
We don’t want people losing it all even if they don’t get sick. It’s nobody’s fault except the Chinese.
Sending a check for $1000 to everyone is STUPID. I’m retired military. I don’t NEED a cash payment. My daughters are both employed in critical jobs, so they won’t stop working. They don’t NEED an extra $1000. I am helping another kid financially, but that is MY decision.
If you have family that needs help, feel free to help them. Don’t expect me to pay for them while I am already putting $$$ into my own kids!
There are TARGETED people who may need help - so TARGET THEM! Very bad idea to simply shovel out $1000! Stupid!
Please remember - Trump no more has a “stash of cash” than Obama had! It isn’t “his” money to spend!
We never learn. Just become dumb dumber and dumbest.
On the one hand I’m never fond of just handing out money. On the other hand we shot the gig economy in the head. Between the canceling of the Festival of Books last weekend and the Street Fair this I know people who are out around 10% of their annual income. And it’s GONE, there’s no making that up, these events aren’t going to be rescheduled. And that’s just the big events, small canceled events are eating people on that circuit up too. And they won’t benefit from any of the “employer” based relief people are talking about, cause they don’t have employers. So I’m not sure.
Excellent idea. And they can take the money from Google, Apple,Walmart,Amazon,Buffet, etc who complain they don’t pay enough taxes.
Trump MONEY!! Where he get it?? I don’t know, from his stash!! HA HA HA HA!! Mmmmmm, Mmmmm, Mmmmmm!!! Actually, its not a horrible idea. Will ingratiate Trump to many who just lost their jobs, and will still vote in Nov.
Bills
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