Posted on 08/09/2020 6:04:54 AM PDT by DEPcom
Polls typically show that Americans support a payroll tax cut over the idea of a bailout for cities and states. Every worker would get a 7.5% boost in their paychecks starting as early as next week. This incentivizes work and it puts more money back on Main Street USA. At the Committee to Unleash Prosperity, which I co-founded, we estimate 2.7 million jobs would be created from this tax cut.
If so this does nothing for me, it just delays the pain. Is this the same trick to get Votes that Obama used during his first term?
That would be a deferral rather than a cut. I think an actual payroll tax cut would go a long way for Trump. It would also make Pelosi’s head explode.
Do it!
Moore seems to have overlooked that part. If people are smart they’ll bank the FICA tax they would have paid so they have it come January. Not a lot of economic benefit in that.
Does it even matter anymore, stroke of the pen, law of the land.
This is just an extremely bad precedent for America. Just because it is Trump, does not make it any favorable or appealing.
Can't. Taxes passed by Congress can only be rescinded by Congress.
That’s my question, if I have to pay it back come April 15th, just keep it the way it is.
As currently written it is a deferment, so save the money because they will be coming to collect it later. There is language in the EO saying that they will work on legislation to waive the obligation to pay it, but as it stands now, it’s only a delay in the payment of the payroll tax.
This is just an extremely bad precedent for America. Just because it is Trump, does not make it any favorable or appealing.
Unfortunately, lots of precedent already.
Some would say it started with Jefferson and the Louisiana purchase.
The next big one would be Abraham Lincoln.
Teddy Roosevelt really pushed the limits for his day.
Then Wilson, FDR, and, of course Obama.
Why do you ignore the fact that America is under extreme duress and fret and whine about debt?
I know, I know......... It;s because you lack the intellect to analyse the big picture and rely on archaic reasoning
You would probably have opposed the Congressional declaration of WW II
“If people are smart “
I guess this why politicians do this: People are not smart.
If the intended target is to help people in need would they have money to save to pay those taxes next year?
President Trump should do a true tax cut, not a delay to gets votes. Funny how the democrats are point that out now when Obama and Bush did the same thing.
Call it DAPA
Deferred Action for Payroll Accrual
Then all the people who have huge outstanding deferred payroll taxes can dream about not paying them. Then we name them “Dreamers” and demand amnesty.
“they will work on legislation to waive the obligation to pay it”
Holding my breath on this one. I will put the money in a shoe box to pay it next year.
Thanks for the clear explanation.
Well said.
LOL! Seriously though, that was a great post.
Heard on Fox that Pelosi let the House go until September 14.
It it executive overreach or is it because of legislative lethargy?
Thanks!
Heard on Fox that Pelosi let the House go until September 14.
**************
They recess so often nobody notices their absence anymore.
BTW, are the stimulus checks going to be taxable?
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