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Message
Trump to end payroll tax if re-elected!
Posted on 8/13/20 at 11:17 am
Posted on 8/13/20 at 11:17 am
Fox Business Link
This is huuuuggggee!!
I assume this means we take more taxes from non-essential products?
quote:
“At the end of the year, on the assumption that I win, I’m going to terminate the payroll tax,” Trump said during a press briefing at the White House. “We’ll be paying into Social Security through the general fund.” Trump has proposed implementing payroll tax deferrals from Sept.1 through Dec. 31 for employees whose bi-weekly wages are less than $4,000, on a pre-tax basis. On Wednesday he said he will forgive all of these taxes next year, which means the measure would in fact be the equivalent of a payroll tax cut. After that he said he will terminate the tax entirely.
quote:
Without those taxes, Trump said funding for the popular programs will be taken from general government revenues. When questioned on that strategy given the massive deficits currently facing the federal government, the president responded that it will be doable because the U.S. economy is “going to have tremendous growth.”
This is huuuuggggee!!
I assume this means we take more taxes from non-essential products?
This post was edited on 8/13/20 at 11:20 am
10
Posted on 8/13/20 at 11:22 am to 25smeckles
Based 45
Posted on 8/13/20 at 11:22 am to 25smeckles
i wish he would make SS optional.
Posted on 8/13/20 at 11:23 am to 25smeckles
Oh I can hear the D’s cries now
Posted on 8/13/20 at 11:24 am to CarRamrod
Someone needs to ask Biden if he will cancel the taxes owed if elected
Posted on 8/13/20 at 11:25 am to CarRamrod
quote:
wish he would make SS optional.
It would be the golden age of America
Posted on 8/13/20 at 11:25 am to CarRamrod
He’s effectively going to do that.
Killing the payroll tax means you either kill SS and Medicare OR you start requiring people to cut checks quarterly. And if that happens, you tell them that this is directly due to the costs of SS and Medicare.
The gambit is to build popular pressure to sunset those two programs.
Killing the payroll tax means you either kill SS and Medicare OR you start requiring people to cut checks quarterly. And if that happens, you tell them that this is directly due to the costs of SS and Medicare.
The gambit is to build popular pressure to sunset those two programs.
Posted on 8/13/20 at 11:26 am to jimbeam
So I get to keep my own money and invest in my own retirement? Sign me the frick up.
Posted on 8/13/20 at 11:27 am to teke184
quote:I hope so. Because you can tel how he talks about SS that he knows it sucks but he cant touch it right now because of all the boomers who put money in their whole life would flip out. But im about 20 years in and i would willingly give all that up if i could opt out now.
He’s effectively going to do that.
Killing the payroll tax means you either kill SS and Medicare OR you start requiring people to cut checks quarterly. And if that happens, you tell them that this is directly due to the costs of SS and Medicare.
The gambit is to build popular pressure to sunset those two programs.
Posted on 8/13/20 at 11:29 am to CarRamrod
I have been giving SS money for over 20 years, knowing I would never see a fraction of it. Wish Bush would have fought harder to let the younger generation opt out.
Posted on 8/13/20 at 11:30 am to CarRamrod
quote:
i wish he would make SS optional.
It would end in less than a week.
Posted on 8/13/20 at 11:31 am to saints5021
If it ends, they will give to those that put in for a long time. It won't be stolen.
Posted on 8/13/20 at 11:33 am to 25smeckles
quote:That is a dangerous habit.
I assume
I would hope the measure would not pass Congress. If it does, it means you'll be paying into your own retirement as well as paying heavily into others.
Posted on 8/13/20 at 11:33 am to 25smeckles
Hells to the yea! Damn the deficit, damn the future and damn the naysayers....government spending is the only way to spur the economy and cutting payroll taxes and taking the money from the general fund is a FANTASTIC was to boost the economy. And, most importantly, a sizeable chunk of the GOP base is ON BOARD with what Democrats would have done years ago without any opposition from the right. Donald Trump is doing Yeomans work in laying the lie to Ronald Reagan and austerity!!!! Yall are to be congratulated on finally seeing the light after 40 years of wondering in the darkness. 
Posted on 8/13/20 at 11:34 am to Crimsonians
Yeah. I already know that I am not getting a penny off what they take out of my checks. I'd just be happy if they stopped taking more out and let me put it into an IRA or my pension or something.
This post was edited on 8/13/20 at 11:36 am
Posted on 8/13/20 at 11:35 am to LSU Patrick
thank you for giving me more of my own money back
Posted on 8/13/20 at 11:37 am to teke184
quote:
The gambit is to build popular pressure to sunset those two programs.
That ain't going to happen for about 30 years if then. Social Security and Medicare are golden calves....they will not become unpopular to the point that enough people will support eliminating them. What will happen is the democrats will once again be in control and will make the spending Trump is doing look like the work of a child and people will fall over themselves to elect people of either party who promises more of the same. Its done...the ill thought out conservative movement of Ronald Reagan is being laid to rest and the American people will NEVER look back....
Posted on 8/13/20 at 11:38 am to CarRamrod
quote:That will NEVER happen.
i wish he would make SS optional.
SS is the equivalent of forcing every working American to buy a truckload of US Savings bonds at an artificially low ROI. It is a forced lending program allowing Uncle Sam to rip the lenders off. Yet most Americans are happy as clams to do it. Not a chance in Hell the government gives that up.
Posted on 8/13/20 at 11:38 am to 25smeckles
Nesara
Posted on 8/13/20 at 11:44 am to monstranceclock76
A president cannot end the payroll tax - as in truly end it, not merely postpone collection of it - without Congress signing off on it. That means R's would have to recapture the House first. No Democratic House would ever approve - and frankly, even if there were a small Republican majority, that might not be enough to see the payroll tax-abolition through.
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