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Trump to Suspend Payroll Tax Until End of 2020

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posted on Aug, 8 2020 @ 01:27 PM
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originally posted by: Phage
So, it's more free money?



People keeping more of the money they earned = "Free Money"?

What is the term for taking MORE of people's hard earned money...as Joe and the democrats promise to do?
edit on 8-8-2020 by IAMTAT because: (no reason given)




posted on Aug, 8 2020 @ 01:29 PM
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a reply to: IAMTAT

Yes, I know it isn't free. Nothing is.

So, social security and medicare payments will be reduced since they are going to be defunded for 5 months?

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



posted on Aug, 8 2020 @ 01:36 PM
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originally posted by: Phage
a reply to: IAMTAT

Yes, I know it isn't free. Nothing is.

So, social security and medicare payments will be reduced since they are going to be defunded for 5 months?


Of course not, why would they ? unless this becomes the "new normal" LOL . This is just temporary but I'm sure you know that already.



posted on Aug, 8 2020 @ 01:36 PM
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a reply to: Phage

Glad you decided to change your answer and answer my question. Thanks a bunch.

As for your question...we'll find out what our President decides to do about reimbursing Social Security and Medicare.
Perhaps within the hour.



posted on Aug, 8 2020 @ 01:40 PM
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originally posted by: IAMTAT

originally posted by: Phage
So, it's more free money?



People keeping more of the money they earned = "Free Money"?

What is the term for taking MORE of people's hard earned money...as Joe and the democrats promise to do?


Instead of giving it to countries who have taken advantage of us for decades, we keep it ourselves. Good deal!



posted on Aug, 8 2020 @ 01:54 PM
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a reply to: IAMTAT




Glad you decided to change your answer and answer my question.

I didn't change my answer. My first post questioned where the money was going to come from.
edit on 8/8/2020 by Phage because: (no reason given)



posted on Aug, 8 2020 @ 02:03 PM
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The question that I have is will you still own the tax come april?

Just because he eliminates withholding, it doesn't eliminate you owing the tax, does it?

I think that this is just an election ploy and should he do it, people and businesses are going to owe the government big time in april 2021

This is money that the government uses on a daily basis. They will not forget about it



posted on Aug, 8 2020 @ 02:04 PM
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originally posted by: DBCowboy
It'll be interesting to see the arguments against people having more money that they earned.


The main issue I have is the government won't cut spending by the amount that the taxes are reduced so we end up deeper in debt to ourselves. All this works out to be is another IOU written to our future selves.



posted on Aug, 8 2020 @ 02:04 PM
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originally posted by: Phage
a reply to: IAMTAT




Glad you decided to change your answer and answer my question.

I didn't change my answer. My first post questioned where the money was going to come from.


Probably the same place that Pelosi's 3 trillion dollar funding was coming from.



posted on Aug, 8 2020 @ 02:05 PM
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originally posted by: AugustusMasonicus

originally posted by: DBCowboy
It'll be interesting to see the arguments against people having more money that they earned.


The main issue I have is the government won't cut spending by the amount that the taxes are reduced so we end up deeper in debt to ourselves. All this works out to be is another IOU written to our future selves.


I like it because it will bring exactly what you said to the forefront and be exposed.



posted on Aug, 8 2020 @ 02:06 PM
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originally posted by: Wildbob77
The question that I have is will you still own the tax come april?

Just because he eliminates withholding, it doesn't eliminate you owing the tax, does it?

I think that this is just an election ploy and should he do it, people and businesses are going to owe the government big time in april 2021

This is money that the government uses on a daily basis. They will not forget about it



If that's the case, then what I'd like to do is up my stock purchases by 7.5% and then come April, take out a loan against my stocks to pay the taxes.



posted on Aug, 8 2020 @ 02:10 PM
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a reply to: Wildbob77



Just because he eliminates withholding, it doesn't eliminate you owing the tax, does it?

The term "Payroll taxes" usually is applied to FICA taxes. FWH is for income tax payments, not payroll taxes. But Trump might not know the difference.

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



posted on Aug, 8 2020 @ 02:11 PM
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originally posted by: DBCowboy

originally posted by: Wildbob77
The question that I have is will you still own the tax come april?

Just because he eliminates withholding, it doesn't eliminate you owing the tax, does it?

I think that this is just an election ploy and should he do it, people and businesses are going to owe the government big time in april 2021

This is money that the government uses on a daily basis. They will not forget about it




If that's the case, then what I'd like to do is up my stock purchases by 7.5% and then come April, take out a loan against my stocks to pay the taxes.



...or just stick that 7.5% in the bank and collect a pathetic amount of interest...and you'll still be ahead of the game.

edit on 8-8-2020 by IAMTAT because: (no reason given)



posted on Aug, 8 2020 @ 02:12 PM
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originally posted by: DBCowboy
I like it because it will bring exactly what you said to the forefront and be exposed.


And we both know nothing will get done, Democrats and Republicans have never cut spending.

Personally if this is just a suspension I'll end up sending in my taxes anyway, I'm not interested in having a massive tax bill next April.

ETA: Actually, I take that back, I'd probably set up a separate account and put it in a mutual fund.



edit on 8-8-2020 by AugustusMasonicus because: 👁❤🍕



posted on Aug, 8 2020 @ 02:14 PM
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originally posted by: AugustusMasonicus

originally posted by: DBCowboy
I like it because it will bring exactly what you said to the forefront and be exposed.


And we both know nothing will get done, Democrats and Republicans have never cut spending.

Personally if this is just a suspension I'll end up sending in my taxes anyway, I'm not interested in having a massive tax bill next April.

ETA: Actually, I take that back, I'd probably set up a separate account and put it in a mutual fund.




I thought the same, but am already doing stock purchases through payroll deductions, so I'll just increase the amount deducted and use it for investing.



posted on Aug, 8 2020 @ 02:18 PM
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originally posted by: DBCowboy

originally posted by: AugustusMasonicus

originally posted by: DBCowboy
I like it because it will bring exactly what you said to the forefront and be exposed.


And we both know nothing will get done, Democrats and Republicans have never cut spending.

Personally if this is just a suspension I'll end up sending in my taxes anyway, I'm not interested in having a massive tax bill next April.

ETA: Actually, I take that back, I'd probably set up a separate account and put it in a mutual fund.




I thought the same, but am already doing stock purchases through payroll deductions, so I'll just increase the amount deducted and use it for investing.


Who you kiddin'?...You'll just buy more nipple clamps for your collection.



posted on Aug, 8 2020 @ 02:19 PM
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originally posted by: IAMTAT

originally posted by: DBCowboy

originally posted by: AugustusMasonicus

originally posted by: DBCowboy
I like it because it will bring exactly what you said to the forefront and be exposed.


And we both know nothing will get done, Democrats and Republicans have never cut spending.

Personally if this is just a suspension I'll end up sending in my taxes anyway, I'm not interested in having a massive tax bill next April.

ETA: Actually, I take that back, I'd probably set up a separate account and put it in a mutual fund.




I thought the same, but am already doing stock purchases through payroll deductions, so I'll just increase the amount deducted and use it for investing.


Who you kiddin'?...You'll just buy more nipple clamps for your collection.


Or buy gold.

Gold nipple clamps.




posted on Aug, 8 2020 @ 02:26 PM
link   

originally posted by: DBCowboy

originally posted by: IAMTAT

originally posted by: DBCowboy

originally posted by: AugustusMasonicus

originally posted by: DBCowboy
I like it because it will bring exactly what you said to the forefront and be exposed.


And we both know nothing will get done, Democrats and Republicans have never cut spending.

Personally if this is just a suspension I'll end up sending in my taxes anyway, I'm not interested in having a massive tax bill next April.

ETA: Actually, I take that back, I'd probably set up a separate account and put it in a mutual fund.




I thought the same, but am already doing stock purchases through payroll deductions, so I'll just increase the amount deducted and use it for investing.


Who you kiddin'?...You'll just buy more nipple clamps for your collection.


Or buy gold.

Gold nipple clamps.



Be careful..the last pair of gold ones I bought turned my nipples green.



posted on Aug, 8 2020 @ 02:26 PM
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a reply to: Wildbob77

I'm not sure Payroll Tax is the same as Income Tax 🐰



posted on Aug, 8 2020 @ 02:28 PM
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FoxNews Live

Trump may be signing the EOs today !! 🦇🚬
edit on Aug-08-2020 by xuenchen because: nickel tipper



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