Posted on 05/14/2020 5:31:03 AM PDT by knighthawk
As the U.S. works to recover from the financial fallout of the coronavirus pandemic, President Trump is preparing a “stronger” playbook than his 2017 policy platform to return the U.S. economy to its former strength, he says, which could include a payroll tax cut.
During an interview with FOX Business’ Maria Bartiromo on Thursday, Trump said he liked the idea of a payroll tax cut because it provides a benefit to both businesses and workers.
“That’s one of the taxes that I want to see cut,” Trump said. “And by the way, we’ve already given – we’ve given the largest tax cut in history. If we weren’t so strong as a country, we wouldn’t even exist right now.”
(Excerpt) Read more at foxbusiness.com ...
Obama cut the payroll tax for no LOGICAL reason...I thought it was just for certain pay levels but don’t hold me to that.
“could” is not the same as “will”
Is this a real tax cut or is it just a smaller withholding that we have to make up next April?
Social Security is already financially troubled.
I will be financially destitute at my standard Social Security retirement age because Obama’s Federal Reserve appointees whacked interest rates.
“If you tax people who work and you pay people who don’t work, you will get less people working.”
“If you make it more unattractive to be unemployed, then there’s an incentive to go look for another job faster.”
While some may disagree, personally, I agree, in principle, with Art Laffer and he has long been advocating a payroll tax cut.
The national debt will be about $100,000 per American by January 2021.
Our small businesspeople could’t even save up two months overhead during the peak boom time.
Maybe we’ll be able to grow bananas if Al Gore is right.
You are aware that Trump has been demanding lower interest rates since the day he was inaugurated?
The FDR plan forcing people to save for their old age beats the Turtle’s method of just handing out welfare money when feckless people are needy.
And the narrative will be....
TAX CUTS FOR THE RICH!!!
I agree but I wish that FDR’s plan would have been each person has their own individual SS account and my money went in to an account in my name ONLY. That would have stopped the govt from stealing and wasting my money.
“Social Security is already financially troubled.”
I agree. The payroll tax cut will run SS into further debt all that sooner.
Will there be anyone left on a payroll?
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