Posted on 08/07/2020 10:39:03 AM PDT by caww
White House economic adviser Larry Kudlow said that an order cutting the payroll tax was drafted and ready for President Trump to sign.
"The legal drafting is complete," he said, adding that he did not want to make a "prediction" on what the president might do. "It’s up to him to inform the public."
On Thursday, Trump said he could sign the order as soon as Friday afternoon.
"He is intent on using all of the federal power levers at his disposal, and if we have to do executive orders, we will do them," Kudlow said.
(Excerpt) Read more at washingtonexaminer.com ...
Do it and say that’s all folks!
The President has made the Democrats an offer they can’t refuse and an associated time line.
He must run out the clock
My guess is today sometime
Will your employer actually stop withholding it though?
Or will they be frightened off by all of the ensuing rancor over constitutional gray areas?
Queue the Biden commercials on how Trump is defunding Social Security and Medicare in three...two...one...
Cutting the payroll tax is a good idea. Cutting it by executive order is not such a good idea.
I support this prez 100%, this is going to make a huge difference - economy on steroids.
its power politics. If during this pandemic people aren’t being helped do it. Pelosi the witch is going to have stroke. Life is good.
Employers will look to IRS, and you can bet that the IRS will fall in line or heads will roll.
If you can cut it, you can raise it !
Someday a Rat president will raise it by EO.
The he/she will do other things by EO.
And there will be a Rat President sometime in the future.
Go Trump! Tax cuts bring epileptic fits to the Demoncrats, for good reason....less hand out money for those who do not want to work and it rewards people who do WORK!
“Make it so!”
I’m kind of fuzzy about this. Working long hours.
What does this involve?
Thanks in advance.
How will this work? Will employees on a given job be required to pay these taxes later on?
For example if you work on a contract job would you be eligible for the Payroll tax exemption?
I’ll be working elections in most of October.
Just wondering if those taxes will be nixed on that payroll period.
Power politics indeed. Trump is taking Obama’s pen and phone and shoving it down their throats.
> Someday a Rat president will raise it by EO. <
Right. I suppose it’s necessary in some limited cases, but this whole EO thing has been abused by Democrats and Republicans alike. It’s a king-like power the Founders did not intend the President to have.
Tax policy should be set by Congress and by no one else.
Get it Done.Please and let the hysteria begin. the next thing I want to read is he signed it.
Waiving the collection of FICA taxes. For working people it would mean an additional 6.2% in the paycheck, 7.6% if Medicare tax is waived as well. For the deficit it means another $1 trillion or so.
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