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Thread: Trump signs executive order cutting payroll taxes

  1. #1
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    Default Trump signs executive order cutting payroll taxes

    .
    Remember when Trump promised not to cut either Social Security or Medicare?

    No... he'll simply defund them and let them go bankrupt. And he now vows to make the temporary payroll tax cuts permanent if he is re-elected.

    What a degenerate, immoral, irresponsible, pos.

    I doubt Der Führer's executive order will withstand the inevitable lawsuits and judicial review. But still....

    https://www.usatoday.com/story/news/...ts/3316846001/
    .
    Last edited by Tom Montgomery; 08-08-2020 at 06:26 PM.
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  2. #2
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    Default Re: Trump signs executive order cutting payroll taxes

    Utterly un-Constitutional, but sure, what the hey...
    Gerard>
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  3. #3
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    Default Re: Trump signs executive order cutting payroll taxes

    Won't matter much, is anyone stiil working?

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    Default

    What's the point of cutting payroll taxes to help people who aren't working? Inquiring minds want to know.

    Or, to quote Chief of Police Marge Gunderson in Fargo,

    https://m.youtube.com/watch?v=MDxEvdICKnw
    You would not enjoy Nietzsche, sir. He is fundamentally unsound. — P.G. Wodehouse (Carry On, Jeeves)

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    Default Re: Trump signs executive order cutting payroll taxes

    Quote Originally Posted by Nicholas Carey View Post
    What's the point of cutting payroll taxes to help people who aren't working? Inquiring minds want to know.

    Or, to quote Chief of Police Marge Gunderson in Fargo,

    https://m.youtube.com/watch?v=MDxEvdICKnw
    To drown it in the bathtub, of course!
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  6. #6
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    Default

    Quote Originally Posted by Nicholas Carey View Post
    What's the point of cutting payroll taxes to help people who aren't working? Inquiring minds want to know.

    Or, to quote Chief of Police Marge Gunderson in Fargo,

    https://m.youtube.com/watch?v=MDxEvdICKnw


    I think it is aimed at those working for reduced pay. Many are, myself included This would result in more take home pay for those that qualify.



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  7. #7
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    Default Re: Trump signs executive order cutting payroll taxes

    Trump Just Admitted on Live Television He Will 'Terminate' Social Security and Medicare If Reelected in November

    President Donald Trump on Saturday afternoon openly vowed to permanently "terminate" the funding mechanism for both Social Security and Medicare if reelected in November—an admission that was seized upon by defenders of the popular safety net programs who have been warning for months that the administration's threat to suspend the payroll tax in the name of economic relief during the Covid-19 pandemic was really a backdoor sabotage effort...



    https://www.commondreams.org/news/20...?cd-origin=rss

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    Default Re: Trump signs executive order cutting payroll taxes

    I'd ask if the president can do this, but then I ask who'll stop him.

    Trump and the GOP make no secret of wanting to get rid of Medicare, Medicaid,and Social Security.

    This election is going to depend on people being allowed to vote, and their votes counted. Trump will do all he can to prevent voting.
    How do we form a mutiny? Our new captain is navigating poorly.

  9. #9
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    Default Re: Trump signs executive order cutting payroll taxes

    Quote Originally Posted by Canoeyawl View Post
    Won't matter much, is anyone stiil working?
    exactly, what a frigging ignorant solution.

  10. #10
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    Default Re: Trump signs executive order cutting payroll taxes

    He is a walking (sorta), talking (after a fashion), clueless disaster - with delusions of regal powers.
    David G
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    Default Re: Trump signs executive order cutting payroll taxes

    I believe he rejected whatever Pelosi and McConnell were working on just so he could gallop in on his white horse, sign the executive order and save the day. $400/week extra for the unemployed and no payroll tax deductions for the working folks sounds great to his base (and perhaps other people) but what they don't realize is that he's screwing them over with Social Security and Medicare.

    He knows it will be challenged in court but one thing he has learned while in office is that everything he does ends up in court and will take years and years to wind it's way through the legal system, leaving him free to do whatever he pleases.

    The man is a cunning monster.
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  12. #12
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    Default Re: Trump signs executive order cutting payroll taxes

    The Congress is unable to produce a meaningful relief package because the GOP won't go along, then Trump becomes the hero to the voters. Classic. They create the problem and then they solve it, looking good, and screwing everybody.

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    Default Re: Trump signs executive order cutting payroll taxes

    Quote Originally Posted by Rich Jones View Post
    I believe he rejected whatever Pelosi and McConnell were working on just so he could gallop in on his white horse, sign the executive order and save the day. $400/week extra for the unemployed and no payroll tax deductions for the working folks sounds great to his base (and perhaps other people) but what they don't realize is that he's screwing them over with Social Security and Medicare.

    He knows it will be challenged in court but one thing he has learned while in office is that everything he does ends up in court and will take years and years to wind it's way through the legal system, leaving him free to do whatever he pleases.

    The man is a cunning monster.
    Indeed he is.

    And that's part of his time-tested m.o. - create chaos... then 'solve' it in a way that appears on the face to be beneficial... but in reality benefits mostly his agenda.
    David G
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    Default Re: Trump signs executive order cutting payroll taxes

    Coronavirus stimulus: Extending extra unemployment benefits through executive order 'would really be a nightmare'


    https://www.yahoo.com/money/coronavirus-stimulus-extra-unemployment-benefits-executive-order-183132419.html


    President Trump signed several executive orders to address various issues related to the coronavirus pandemic after negotiations with Congressional Democrats over a new stimulus bill fell apart.

    The immediate implications of the executive orders are unclear, and the unilateral route may be particularly messy when it comes to extending extra unemployment insurance (UI) benefits that expired after July.

    “An executive order [on extra unemployment benefits] would really be a nightmare,” Michele Evermore, senior policy analyst at the National Employment Law Project, told Yahoo Money. “It would just end up resulting in people thinking they're getting a benefit but states being unable to figure out how to do it in many cases.”

    Evermore said that enacting extra UI benefits through an executive order would take even longer than Congressional legislation — which experts say would take weeks to implement — because states can only administer benefits defined under the Social Security Act or by Congress.

    Benefits issued by an executive order aren’t authorized by the Employment and Training Administration, which manages unemployment compensation services for the Labor Department.

    “States would have to set up a whole different system to pay out that piece of benefits,” Evermore explained. “I've heard from state agencies that getting the money this way would be difficult, if not impossible, to administer.”
    David G
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    Default Re: Trump signs executive order cutting payroll taxes

    These latest EOs push him over 180.

  16. #16
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    Default Re: Trump signs executive order cutting payroll taxes

    Republican senator calls Trump’s stimulus executive order ‘unconstitutional slop’


    https://www.marketwatch.com/story/tr...?siteid=yhoof2

    President Donald Trump’s executive order and memorandums ostensibly providing relief amid the intractable coronavirus pandemic don’t seem feasible or legal, experts said Saturday.

    One Republican lawmaker, Sen. Ben Sasse of Nebraska, called Trump’s unilateral moves “unconstitutional slop.”

    “President Obama did not have the power to unilaterally rewrite immigration law with DACA and President Trump does not have the power to unilaterally rewrite the payroll tax law,” Sasse said in a statement.

    Former Secretary of State Hillary Clinton, Trump’s rival in the 2016 presidential election, in an MSNBC interview called the executive actions signed on Saturday at Trump’s golf club in Bedminster, N.J., “a stunt.”

    Trump made an end run around Congress on Saturday with an executive order and three memoranda aimed at boosting the economy, but analysts said the wording of the orders raised more questions than the answers provided.

    Read:Trump extends unemployment benefits, defers payroll tax

    For instance, the executive order will allow companies to avoid collecting payroll taxes, but analysts said workers would still be on the hook to pay the taxes by next April 15.

    Trump, prodded by some of his economic advisers, has been a vocal fan of a payroll-tax holiday, but the tax break is not popular among Republicans and Democrats on Capitol Hill, as these taxes fund the Social Security program.

    One Trump memorandum would provide $400 a week in extra unemployment benefits. The federal money would come from disaster relief funds. Analysts questioned the wisdom of using such funds with the U.S. hurricane season ahead. Cash-strapped states would be required to chip in $100 of the extra benefit. The program could last just four weeks before it runs out of money,

    Ernis Tedeschi, a former Treasury Department economist, tweeted that he didn’t think the unemployment insurance plan would work:

    The Trump memorandum that on its face extends the CARES Act’s eviction moratorium merely asks whether certain agencies could “maybe do something” about evictions, said Bharat Ramamurti, a member of the COVID-19 Congressional Oversight Commission, in a tweet:

    Congressional Democratic leaders issued a joint statement condemning the executive actions as feckless and urging Republicans to return to the negotiating table.

    Sen. Charles Schumer, Democrat of New York, and Speaker of the House Nancy Pelosi, from California, called Trump’s actions “unworkable, weak and narrow.”

    Diane Swonk, chief economist at Grant Thornton, agreed that Congress needs to pass legislation. The July employment report showed that job growth is slowing as the coronavirus pandemic spreads. “The crisis is real, while the economy has already shown signs of losing momentum.” Swonk said in a tweet.

    The House passed a next-phase coronavirus relief package called the HEROES Act in May, but the Senate and White House opted to remain on pause till public pressure built when the benefits provided by the prior program expired at the end of July.

    David G
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    Default Re: Trump signs executive order cutting payroll taxes

    Should Trump win the election, looking back this could be one of the worst things he does to the Republic.

    If so-called fiscal conservatives don’t push back hard and stop this we really have become an authoritarian state.

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    Default Re: Trump signs executive order cutting payroll taxes

    Quote Originally Posted by C. Ross View Post
    Should Trump win the election, looking back this could be one of the worst things he does to the Republic.

    If so-called fiscal conservatives don’t push back hard and stop this we really have become an authoritarian state.
    In a normal world, any President advocating the elimination of Social Security and Medicare would be met with pitchforks and torches, tar and feathers, etc....

    If the Democrats don't latch on to this and make a MONSTER HUGE deal out of this, they'll be committing political malpractice.
    "Reason and facts are sacrificed to opinion and myth. Demonstrable falsehoods are circulated and recycled as fact. Narrow minded opinion refuses to be subjected to thought and analysis. Too many now subject events to a prefabricated set of interpretations, usually provided by a biased media source. The myth is more comfortable than the often difficult search for truth."







  19. #19
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    Default Re: Trump signs executive order cutting payroll taxes

    I believe if you look at the order closely you will find that he didn’t cut the payroll tax, he just deferred it so many could end up with a big tax bill at years end. Of course he will eliminate that by cutting it altogether if re-elected, or so he says, and then we will have a real mess. Pay attention people.

    https://www.forbes.com/sites/peterjr.../#b4d21ec68490
    Tom

  20. #20
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    Default Re: Trump signs executive order cutting payroll taxes

    Quote Originally Posted by Norman Bernstein
    In a normal world, any President advocating the elimination of Social Security and Medicare would be met with pitchforks and torches, tar and feathers, etc....

    If the Democrats don't latch on to this and make a MONSTER HUGE deal out of this, they'll be committing political malpractice.
    Evidently he is not worried about AARP.
    "We have come to live in a society based on insults, on lies and on things that just aren't true. It creates an environment where deranged people feel empowered." -- Colin Powell, 10/30/18

  21. #21
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    Default Re: Trump signs executive order cutting payroll taxes

    Quote Originally Posted by Breakaway View Post
    I think it is aimed at those working for reduced pay. Many are, myself included This would result in more take home pay for those that qualify.



    Kevin


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    It defers payroll tax, it doesn’t cut it.

  22. #22
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    Default Re: Trump signs executive order cutting payroll taxes

    Mexico is going to pay for it!
    Skip

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  23. #23
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    Default Re: Trump signs executive order cutting payroll taxes

    Quote Originally Posted by Hugh Conway View Post
    It defers payroll tax, it doesn’t cut it.
    Bingo.

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    Default Re: Trump signs executive order cutting payroll taxes

    Won’t it all catch up on folks next April 15th? That untaxed payday dough is income. Income is taxed.
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    Default Re: Trump signs executive order cutting payroll taxes

    It just gets more and more interesting.

    Wonder if any of what he signed will ever happen?
    How do we form a mutiny? Our new captain is navigating poorly.

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    Default Re: Trump signs executive order cutting payroll taxes

    Quote Originally Posted by Jim Bow View Post
    Won’t it all catch up on folks next April 15th? That untaxed payday dough is income. Income is taxed.
    Guess the question is one of how many think he's doing them a favor.

    Does this cut payroll taxes for the employer? The part they match?
    How do we form a mutiny? Our new captain is navigating poorly.

  27. #27
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    Default Re: Trump signs executive order cutting payroll taxes

    Just another vaporware con-job. All about the pr. Nothing about substance. And in the meantime... yet another affront to the separation of powers by the wannabe king.
    David G
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  28. #28
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    Default Re: Trump signs executive order cutting payroll taxes

    Did he actually sign it or was he just threatening to?

  29. #29
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    Default Re: Trump signs executive order cutting payroll taxes

    He signed it. With a smirk on his face, he signed it.


  30. #30
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    Default Re: Trump signs executive order cutting payroll taxes

    I'm surprised. I didn't think he would, I thought it was saber rattling. I dont understand how its constitutional, considering who holds the power of purse. Never mind payroll tax, how can he sign away the unemployment? Not asking rhetorically.

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    Default Re: Trump signs executive order cutting payroll taxes

    I hope people see the bull here.44197841_2184028271631097_1437082725663113216_n.jpg

  32. #32
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    Default Re: Trump signs executive order cutting payroll taxes

    The actual beneficiary of cutting/deferring payroll taxes is employers, the more employees the merrier.

    Another big handout to thriving business, in the guise of helping wage-earners. The bulk of Americans have no clue.

  33. #33
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    Default Re: Trump signs executive order cutting payroll taxes

    How much is a 6.25% "raise" to the average American worker?


  34. #34
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    Default

    We need to stop calling it a cut. He deferred payroll taxes. (And we shall see if it ever goes into effect) How many will be ready to pay it when that deferment expires?


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    Tom

  35. #35
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    Default Re: Trump signs executive order cutting payroll taxes

    The trick is, the "deferral" is made permanent for employers down the line, and the public doesn't even try to understand what happened. Yet another Profit Protection Plan, at the expense of the public weal.

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