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Trump to Suspend Payroll Tax Until End of 2020

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posted on Aug, 8 2020 @ 07:57 PM
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a reply to: face23785




And what do we do when the outlays are larger than the revenues?
In the case of social security and medicare (without a very major overhaul) there are not many options;

Change eligibility criteria. Change benefit amounts. That's about it.
edit on 8/8/2020 by Phage because: (no reason given)




posted on Aug, 8 2020 @ 08:02 PM
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originally posted by: DBCowboy

originally posted by: AScrubWhoDied

originally posted by: DBCowboy
The wailing and gnshing of teeth is hilarious!

The democrat-socialists plan was 3.2 trillion and no one blinks an eye.

Trump puts a hiatus on payroll taxes and people lose their minds.

lolz


Its comical watching grown people struggle with the meaning of "defer".


It's an incentive to get people working again. And for those in the lower middle class, they don't pay taxes anyway.

So your point has as much substance as a nun-fart.


According to this very thread, plenty of people think defer means absolve.

I'm lower middle class btw, paid the irs just shy of 15k in federal income taxes last year, not including ss.



posted on Aug, 8 2020 @ 08:03 PM
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a reply to: scraedtosleep


I don't understand people that quit just because the business was in a slump. We all knew (hope) that this wouldn't be forever.

Not so sure it won't be forever... or at least until the revolution. I have yet to see any government voluntarily give back power it has usurped.


All america had to do was tightening that belt for a few months during a shut down then reopen with safety precautions and we would have been fine.

I disagree. All the lockdowns accomplish is to delay the inevitable. We could have shut down completely for a year, and when we re-opened the virus would still be there.

There are only two ways to beat this thing in the end: a vaccine or herd immunity. There has never been a successful vaccine for a corona virus, and the lockdowns are delaying herd immunity.

TheRedneck



posted on Aug, 8 2020 @ 08:07 PM
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originally posted by: AScrubWhoDied

originally posted by: DBCowboy

originally posted by: AScrubWhoDied

originally posted by: DBCowboy
The wailing and gnshing of teeth is hilarious!

The democrat-socialists plan was 3.2 trillion and no one blinks an eye.

Trump puts a hiatus on payroll taxes and people lose their minds.

lolz


Its comical watching grown people struggle with the meaning of "defer".


It's an incentive to get people working again. And for those in the lower middle class, they don't pay taxes anyway.

So your point has as much substance as a nun-fart.


According to this very thread, plenty of people think defer means absolve.

I'm lower middle class btw, paid the irs just shy of 15k in federal income taxes last year, not including ss.


Then don't spend the money.

Jesus!

You could just keep paying taxes if you're going to be slammed so badly.



posted on Aug, 8 2020 @ 08:07 PM
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originally posted by: Phage
a reply to: face23785




And what do we do when the outlays are larger than the revenues?
In the case of social security and medicare (without a very major overhaul) there are not many options;

Change eligibility criteria. Change benefit amounts. That's about it.


Yeah, that's not how that works in the real world. You fell for an accounting gimmick, which is hilarious because on the last page you're telling people not to get fooled. There's the way things work on paper and there's the way they work in practice. If payroll tax isn't collected, the funds appropriated for the mandatory programs will just be borrowed. The only way social security and medicare won't be funded is if our debtors stop letting us borrow.

I realize your ego is too big (and that is so not warranted at this point, by the way) to graciously bow out of subjects you're not knowledgeable on anymore, so I'll let you have the last word. Seriously, give up #resistTrump bro. He's making you make a fool of yourself on a consistent basis around here.
edit on 8 8 20 by face23785 because: (no reason given)



posted on Aug, 8 2020 @ 08:09 PM
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originally posted by: AScrubWhoDied

originally posted by: DBCowboy

originally posted by: AScrubWhoDied

originally posted by: DBCowboy
The wailing and gnshing of teeth is hilarious!

The democrat-socialists plan was 3.2 trillion and no one blinks an eye.

Trump puts a hiatus on payroll taxes and people lose their minds.

lolz


Its comical watching grown people struggle with the meaning of "defer".


It's an incentive to get people working again. And for those in the lower middle class, they don't pay taxes anyway.

So your point has as much substance as a nun-fart.


According to this very thread, plenty of people think defer means absolve.

I'm lower middle class btw, paid the irs just shy of 15k in federal income taxes last year, not including ss.


If you owe $15K in federal income tax and you're lower-middle class, I'd advise you to save up some money and move. You live somewhere with absurdly high cost-of-living. Either that or you're awful at managing your money.



posted on Aug, 8 2020 @ 08:12 PM
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a reply to: face23785



If payroll tax isn't collected, the funds appropriated for the mandatory programs will just be borrowed.
Please demonstrate how current law allows for such "borrowing."

edit on 8/8/2020 by Phage because: (no reason given)



posted on Aug, 8 2020 @ 08:17 PM
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a reply to: DBCowboy




Then don't spend the money.


I thought the point was to give people spending money.



posted on Aug, 8 2020 @ 08:19 PM
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originally posted by: Phage
a reply to: DBCowboy




Then don't spend the money.


I thought the point was to give people spending money.


So why do you want to dictate what people do with it?



posted on Aug, 8 2020 @ 08:21 PM
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a reply to: DBCowboy

I don't care. Personally.
But your Lord says it's to spend. Money in your paycheck. Bread and circuses, and stuff.
edit on 8/8/2020 by Phage because: (no reason given)



posted on Aug, 8 2020 @ 08:22 PM
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originally posted by: Phage
Probably some votes from the same people who saw a few more bucks in their paychecks when withholding rates were reduced and were stoked. Those same people were not so stoked in April.


I do have to address this though.

The people who were unhappy that following April were people who didn't adjust their W-4s to compensate for the withholding changes.

Numerous administration officials said in press conferences that it was imperative people update their W-4s. Most people should've known to do this already, but some don't really understand how their taxes work so they had to be told. I updated mine, most of the people I know updated theirs, and we were perfectly fine come tax time.

Now, if you didn't watch those press conferences or read the actual releases about the tax changes, and you got your news from places like CNN/MSNBC and the like, they made absolutely certain you were not told you had to update your W-4. They wanted people to take a hit at tax time and hopefully endure financial hardship and blame Trump for it.

Ironic considering your questioning of people's motivations. That was probably the most important thing to inform the people about in the entire coverage of the tax changes, and the Democrats in the media purposefully did not tell people that. The only way you heard about it if you watched them was if a right-wing pundit happened to get it out without getting shouted down.

ETA PSA: For anyone interested, you should always update your W-4 anytime there's changes to the tax code, or if you have a major life event, ie. get married, have a child, start a new job, get a raise. It doesn't hurt to just look at the damn thing every year. If you're not confident working on it yourself, ask your tax preparer to go over it with you when you file your taxes.
edit on 8 8 20 by face23785 because: (no reason given)



posted on Aug, 8 2020 @ 08:23 PM
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originally posted by: Phage

a reply to: DBCowboy

I don't care. Personally.
But your Lord says it's to spend. Money in your paycheck. Bread and circuses, and stuff.


*shrugs*



posted on Aug, 8 2020 @ 08:25 PM
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a reply to: face23785

Only Democrats were take by surprise by the reduction in their refunds. I did not know this.

So, be sure to increase your withholding in order to compensate for the deferral of your payroll taxes.

Don't say you weren't warned.



posted on Aug, 8 2020 @ 08:27 PM
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originally posted by: Phage
a reply to: face23785

Only Democrats were take by surprise by the reduction in their refunds. I did not know this.




Nowhere did I say or even imply that. I only said people who get their news from lousy sources.

So why the blatant dishonesty? Sad what you have become. Have a good night man. I hope you snap out of this # soon, but it doesn't look promising.



posted on Aug, 8 2020 @ 08:27 PM
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The Left: People are too stupid to plan ahead, so the government has to do it for them.




posted on Aug, 8 2020 @ 08:28 PM
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a reply to: face23785

Republicans get their information from Democrat sources?
You don't think highly of them, do you?


and the Democrats in the media purposefully did not tell people that.

edit on 8/8/2020 by Phage because: (no reason given)



posted on Aug, 8 2020 @ 08:30 PM
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originally posted by: AScrubWhoDied

originally posted by: DBCowboy

originally posted by: AScrubWhoDied

originally posted by: DBCowboy
The wailing and gnshing of teeth is hilarious!

The democrat-socialists plan was 3.2 trillion and no one blinks an eye.

Trump puts a hiatus on payroll taxes and people lose their minds.

lolz


Its comical watching grown people struggle with the meaning of "defer".


It's an incentive to get people working again. And for those in the lower middle class, they don't pay taxes anyway.

So your point has as much substance as a nun-fart.


According to this very thread, plenty of people think defer means absolve.

I'm lower middle class btw, paid the irs just shy of 15k in federal income taxes last year, not including ss.


Bullcrap! Lower Middle Class threshold is at $50k per year. If you paid $15 k in federal income taxes you expect us to believe you had an effective rate of 30%... not even remotely possible. Nobody reaches 30% until they exceed $160,000 per year and that's with zero deductions.

Don't piss on people and say it is raining, dude.



posted on Aug, 8 2020 @ 08:55 PM
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a reply to: Phage

I haven't heard one word about my Social Security or Medicare being cut. I'll let you know if it happens.

The Social Security trust fund has been raided by Congress for decades. All those stacks of money? They're really stacks of IOUs from the Treasury. So all that needs to be done is to call in the IOUs.

TheRedneck



posted on Aug, 8 2020 @ 08:57 PM
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a reply to: TheRedneck




I haven't heard one word about my Social Security or Medicare being cut. I'll let you know if it happens.
It won't be before November. But if the deferrals are expected to be called due, it may not happen at all. For you. But since you don't get a paycheck you don't really have a horse in this race. Do you? Your daughter, perhaps.


The Social Security trust fund has been raided by Congress for decades.
For example?


All those stacks of money? They're really stacks of IOUs from the Treasury.
Really? There are no trust funds? I did not know that.

edit on 8/8/2020 by Phage because: (no reason given)



posted on Aug, 8 2020 @ 09:01 PM
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I missed the 3:30 presser, but I have been hearing blurbs that Trump wants to change the temporary deferral intoa forgiveness program. This is the best political move he could make.

Congress has been busy fighting over this stimulus package for weeks now. They failed... and I believe Pelosi and Schumer will bear the brunt of the blame for that. Now here comes Trump right before the election with another promise to keep... forgive the deferred tax payments! So who you gonna vote for? The people who already sued to stop the deferments, or the people who want to forgive them?

If Biden does get elected, he has a choice... go against everything the Democrats have said and show his hypocrisy, or bankrupt half the nation. I'm curious how many people are going to vote for their own personal bankruptcy.

TheRedneck




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