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Biden says payroll tax cuts are a BIG MISTAKE.

Posted on 9/15/20 at 1:47 pm
Posted by GumboPot
Member since Mar 2009
118997 posts
Posted on 9/15/20 at 1:47 pm
He just said that. He also just said that Trump's payroll tax cut to help us during the COVID 19 crisis will have to be paid back.
This post was edited on 9/15/20 at 1:51 pm
Posted by xxTIMMYxx
Member since Aug 2019
17562 posts
Posted on 9/15/20 at 1:48 pm to
Pretty sure the second part is right. That's why my company isn't doing the deal.
Posted by NIH
Member since Aug 2008
112726 posts
Posted on 9/15/20 at 1:48 pm to
Imagine being so soy laden that you want more taxes

Just lol
Posted by Jrv2damac
Kanorado
Member since Mar 2004
65357 posts
Posted on 9/15/20 at 1:49 pm to
But vote Joe cause muh SS

if you are young and relying on SS, you’re retarded. I don’t even factor hypothetical ss payments for my retirement.
Posted by JPinLondon
not in London (currently NW Ohio)
Member since Nov 2006
7855 posts
Posted on 9/15/20 at 1:49 pm to
to clarify, did he say:

payroll taxes are a BIG MISTAKE? or Payroll tax cuts are a BIG MISTAKE?
Posted by anc
Member since Nov 2012
18137 posts
Posted on 9/15/20 at 1:49 pm to
He's right on this one. Never thought Trump's proposal was good on this particular issue.

Posted by FATBOY TIGER
Valhalla
Member since Jan 2016
9042 posts
Posted on 9/15/20 at 1:50 pm to
quote:

payroll taxes are a BIG MISTAKE.


I agree

quote:

Biden says


Don't care. He's an idiot.
Posted by CGSC Lobotomy
Member since Sep 2011
80417 posts
Posted on 9/15/20 at 1:51 pm to
quote:

He also just said that Trump's payroll tax cut to help us during the COVID 19 crisis will have to be paid back.


That's actually true. It's up to the individual companies whether they want to pay the full amount or have the employees match. Military does not have the option to opt-out.

I'm not particularly happy about it because it will be taken out of my retirement stipend from January - April.
This post was edited on 9/15/20 at 1:54 pm
Posted by JumpingTheShark
America
Member since Nov 2012
22927 posts
Posted on 9/15/20 at 1:53 pm to
He’s correct, it’s not a payroll tax cut, it is a deferral. As a CPA we are advising clients not to do it and we aren’t doing it ourselves.
Posted by thunderbird1100
GSU Eagles fan
Member since Oct 2007
68449 posts
Posted on 9/15/20 at 1:53 pm to
Honestly the payroll tax move by Trump is brilliant politically.

I mean, it's stupid as hell in practical terms which is why private companies by in large are not even giving their employees the option of electing into it really, but politically...basically if Trump gets re-elected, they can push very hard to get it forgiven in congress as relief, and give everyone a big tax break for it on their 2020 taxes if they didnt participate originally. If the Dems refuse to give in, they can make them out to be the enemy once more that the blood suckling Dems always want your tax money, etc etc...Republicans could care less about SSI and the such so it's win/win for them.

If Biden wins, then he gets the fun task of dealing with "getting back" all that tax money withheld and all those americans (like government employees who participated) to get double hit (12.4% instead of 6.2%) on their paychecks the first 4 months of 2021 to "pay it back". Making him and the dems public enemy #1 on "taking our money" - because most wont even realize why their paychecks got much smaller to start the year - seriously, imagine people suddenly having their paychecks get 12.4% smaller all of a sudden and trying to explain to them why
This post was edited on 9/15/20 at 1:56 pm
Posted by Mrwhodat
Member since Dec 2015
10296 posts
Posted on 9/15/20 at 1:56 pm to
Posted by Alt26
Member since Mar 2010
28465 posts
Posted on 9/15/20 at 2:05 pm to
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
Posted by Floating Change Up
Member since Dec 2013
11863 posts
Posted on 9/15/20 at 2:13 pm to
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.
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