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Posted on 9/15/20 at 1:56 pm to xxTIMMYxx
quote:
what makes you think he will forgive them?
Trump said he would work with the new congress to have them forgiven.
Posted on 9/15/20 at 1:57 pm to CGSC Lobotomy
No one is going to make anyone pay the taxes back.
Posted on 9/15/20 at 1:58 pm to CGSC Lobotomy
quote:
. Even if she doesn't, he won't be able to get it done before we take a hit in January's paychecks.
Trump can just keep deferring (and executive administrative action) until Pelosi relents.
Posted on 9/15/20 at 1:58 pm to thunderbird1100
quote:
To pay that back the first 4 months as proposed next year, they have to take out 12.4%, not 6.2% out of your paychecks from Jan-Apr
No, because that would imply that 12.5% of 2021 wages are taken out instead of the exact amount that was deferred, which is less.
Posted on 9/15/20 at 1:59 pm to Janky
quote:
No one is going to make anyone pay the taxes back.
DFAS flat out told us the money will be taken back between January and April.
Those whose base pay is > $8,666.66 are unaffected because their SS withholding is not deferred.
This post was edited on 9/15/20 at 2:01 pm
Posted on 9/15/20 at 2:00 pm to Janky
quote:
No one is going to make anyone pay the taxes back.
Exactly. Even a majority of Democrats will revolt.
That's why taxes are taken out of each paycheck up front. The IRS knows once that money is spent, it's gone.
Posted on 9/15/20 at 2:00 pm to thunderbird1100
quote:
Republicans could care less about SSI and the such so it's win/win for them.
So this is BS in my mind....if the GOP could care less about SSI as you say why not put the payroll tax break in the CARES Act....it would have been political suicide at that time for Pelosi and Schumer not to pass it because of that. It didn't get in because of Republicans like Turtle, Lindsay, Marco, etc.
This post was edited on 9/15/20 at 2:01 pm
Posted on 9/15/20 at 2:02 pm to CGSC Lobotomy
quote:
DFAS flat out told us the money will be taken back between January and April.
Until Trump extends the EO and tells them not to. Again, collecting taxes is an executive administrative action. The executive can choose to collect or not collect.
Posted on 9/15/20 at 2:02 pm to GumboPot
quote:
the new congress
Basically the same as the old Congress with a few AOC types replacing Joe Crowley types.
Posted on 9/15/20 at 2:04 pm to CGSC Lobotomy
quote:
No, because that would imply that 12.5% of 2021 wages are taken out instead of the exact amount that was deferred, which is less.
You're making the assumption everyone gets a raise jan 1, which isn't the case. Keeping things simple, even if you get a 2-4% raise sometime in the first 4 months, they are going to have to effectively double tax you the normal amount the first few months to get that deferred amount back if the employer is responsible for collecting, I would guess it's out of their control if the employee leaves and then goes on them, but didnt the proposal clearly put the liability initially with the employer paying it back?
Posted on 9/15/20 at 2:05 pm to GumboPot
Biden, quite literally, doesn't have a single independent thought in terms of policy. He just says exactly what the teleprompter tells him to say. If whatever he proposes today doesn't "poll well" he'll reverse course next week. You can do that when virtually no MSM will hold you accountable.
The MSM helped him hoist himself upon his own petard in the late 80's when he blatantly lied about and/or plagiarized multiple statements. 30 years later they just ignore the same stupidity ALL in a coordinated effort to get Trump out of office
The MSM helped him hoist himself upon his own petard in the late 80's when he blatantly lied about and/or plagiarized multiple statements. 30 years later they just ignore the same stupidity ALL in a coordinated effort to get Trump out of office
Posted on 9/15/20 at 2:06 pm to thunderbird1100
quote:
You're making the assumption everyone gets a raise jan 1, which isn't the case.
All USG employees get payraises to account for inflation. You said Government Employees' 2021 wages would be taxed at double the rate which simply isn't true. The difference may be nominal but it's still there.
Posted on 9/15/20 at 2:06 pm to CGSC Lobotomy
quote:
DFAS flat out told us the money will be taken back between January and April.
Ok.
Posted on 9/15/20 at 2:08 pm to LSU316
quote:
So this is BS in my mind....if the GOP could care less about SSI as you say why not put the payroll tax break in the CARES Act....it would have been political suicide at that time for Pelosi and Schumer not to pass it because of that. It didn't get in because of Republicans like Turtle, Lindsay, Marco, etc.
To be fair nobody has really cared about SSI that much, it's set to be insolvent in less than 2 decades as a program by itself and the returns on it are hilariously low compared to most other forms of retirement investments now if you know anything about what you're doing. It's needed to die its death and move things towards IRAs anyways, problem is way too americans have no clue how to save for retirement so there has to be some sort of transition period there.
Posted on 9/15/20 at 2:09 pm to thunderbird1100
Arguing about how the payroll taxes will be paid back is just a guess. First of all if Trump is reelected the chances of paying back those taxes is almost zero. Even if Biden is elected the chances of having to pay back the deferred payroll taxes are low. Congress with Biden would likely transfer that burden on the "rich".
Posted on 9/15/20 at 2:09 pm to CGSC Lobotomy
quote:
All USG employees get payraises to account for inflation. You said Government Employees' 2021 wages would be taxed at double the rate which simply isn't true. The difference may be nominal but it's still there.
It's not really relevant to the argument, effectively your paycheck will get about 12.4% smaller (until whatever raise kicks in when it does) the first 4 months of the year to pay back the deferral which was the point. If it's 9%, 10%, 11% effectively, it's still going to shock a ton of people is the point.
This post was edited on 9/15/20 at 2:11 pm
Posted on 9/15/20 at 2:11 pm to xxTIMMYxx
quote:
Pretty sure the second part is right. That's why my company isn't doing the deal.
Governor of Missouri said frick that to doing it.
He said why should we give you 6%, then in January take 12% back, that helps no one.
He's right, this does NOTHING for people, and majority of places aren't going to want the head aches and paperwork for 3 f'in monthsish
Posted on 9/15/20 at 2:13 pm to GumboPot
quote:
Trump's payroll tax cut to help us during the COVID 19 crisis will have to be paid back.
This is correct. But trump has repeatedly said that he wants those to be not paid back if he is re-elected.
Posted on 9/15/20 at 2:14 pm to SeeeeK
quote:
Governor of Missouri said frick that to doing it.
He said why should we give you 6%, then in January take 12% back, that helps no one.
He's right, this does NOTHING for people
This is one dimensional thinking.
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