Coronavirus (political)

[SunnySide]

The maximum benefit that Americans could see during that four-month period is about $2,149. But because Trump is ordering a payroll tax deferral, not a cut, the taxes will eventually be due at a later date.

To pause payroll taxes, the Trump administration is employing a section of the tax code that allows the Treasury secretary to postpone certain tax-related deadlines during a federally declared disaster. It's the same authority the Treasury Department used earlier in the year to delay the April 15 tax-filing deadline until July 15.

The move technically makes it a deferral of payroll taxes — not a suspension — although Trump has pledged to pursue a permanent cut to the payroll taxes.

”This fake tax cut would also be a big shock to workers who thought they were getting a tax cut when it was only a delay,” Sen.Ron Wyden, the top Democrat on the Senate Finance Committee, said in a statement. “These workers would be hit with much bigger payments down the road.”

https://www.foxbusiness.com/money/wh...or-your-wallet

Wait .. what?

We'd have to pay back the taxes? WTF, no thanks man just take it out now and not later when I dont have the money.

This payroll tax cut has nothing to do with COVID as Trump has wanted this from day 1. I honestly think he just wants it bc it companies dont have to pay to match it so ti helps companies. What does he care is SS or medicare deficits bloom ... he will be out of office before shit hits the fan.

I hate Trump with every cell in my body. I will piss on his grave. That is a promise.
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President Donald Trump is said to not be worried about setting the US up for a massive debt crisis because he doesn't think it'll erupt until after he leaves office.

Sources close to the presidency told The Daily Beast that Trump had repeatedly shrugged off any concerns about the rising national debt because it was projected to come to a head only after he would finish a second term.

During a 2017 briefing with senior officials, Trump responded to a presentation of charts and graphics by saying, "Yeah, but I won't be here," according to a source The Daily Beast said witnessed the comment.
https://www.businessinsider.com/trum...report-2018-12

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