Report: Trump Pitched 0% Payroll Tax For Rest of Year to Combat Coronavirus

Breitbart ^ | 3/10/2020 | john carney

[bitt]

President Donald Trump proposed eliminating federal payroll taxes altogether for the rest of the year, according to a report from CNBC Tuesday.

The proposal would include eliminating both the employer and employee payroll taxes on Social Security and Medicare, according to the report.

“There was also discussion of making the payroll tax rollback permanent,” CNBC reported.

[Viking2002]

Wait.....what?!?

[Husker24]

There is a less than zero chance of getting that through the House.

[bigdaddy45]

Terrible idea

[plain talk]

““There was also discussion of making the payroll tax rollback permanent,” CNBC reported.”

No payroll taxes for SS and Medicare? Really? :-)

[umgud]

That’s about $1,500/mo for me. I’ll take it.

[ican'tbelieveit]

He only have to bring them to the bargaining table...

[Sarah Barracuda]

My sister does payroll for their business every two weeks..1500 bucks every time, so it would save them 3 grand a month if this passes, which it wont

[Vermont Lt]

So after, say tomorrow, the effective tax rate for anyone with a job is zero?

What am I missing? Or are they just talking FICA taxes? 7.5% ( or so?)

[irishjuggler]

The Art of the Deal. Open with a crazy, unrealistic offer and then negotiate from there.

[SuperLuminal]

“There was also discussion of making the payroll tax rollback permanent,”

A 70-year dream of mine come true!
All the ranting and raving me & mine have been doing since 1942 finally obtaining some relief!
That final (and most egregious) communist trick used (supposedly temporarily) by FDR eliminated...
Taxpayers of the future will regain some financial control of Congress...

However, at 86, I'm greedy... Eliminate the 17th and I can retire to ground temperature with a smile...

[Billyv]

The payroll tax savings for employer side of social security could allow companies that so chose to fund FMLA leave for employees.

[immadashell]

Please explain how lower taxes cure a health issue. I must have been absent the day my business school tackled this concept.

[Balding_Eagle]

Terrible idea.

No kidding, the idea that people keep what they themselves earn..............

[Balding_Eagle]

It’s to stimulate the economy.

[lewislynn]

Terrible idea

No one will stop you from continuing to send them all you want.

Who's the fool in that picture?

[Shady]

Prince Andrew of The Kingdom of Gnu Yak would raise Gnu Yak payroll taxes to “make up the difference “ because “dats who we arr.”

[lewislynn]

I’ll go along if they’ll apply the same rules to SE.

[2111USMC]

The government could continue to pay for the programs just as it does today. The reduction in revenue could be made up for by borrowing, which the government can now do at the lowest rates that have ever been available. Alternatively, the government could self-fund the programs the same way the Federal Reserve currently self-funds its bond-purchases in the quantitative easing and overnight repo programs, simply by crediting bank accounts with dollars not linked to a collection from the private sector.

You gotta be shit'n me. I had to look to make sure this wasn't the Onion or Sac Bee.