Posted on 08/09/2020 6:04:54 AM PDT by DEPcom
Suggestions on how to do that?
What tax cut do you think will be passed by the House and the Senate?
The President cannot unilaterally cut or eliminate the tax. He can only defer it. This does, however, put tremendous pressure on Congress to make the deferment an actual tax cut. Imagine if voters go into Election Day knowing that a vote for Democrats will result in a large personal tax bill — not at some unknown future time, but just two months or so later.
Only because she cannot take credit for it.
I like it and here’s why: it’s going to show people just how much money they are paying in taxes every year. That’s the evil of withholding. You never see it so you don’t realize how much you’re paying. This will be a huge eye-opener for the public and this after only one quarter’s worth of taxes.
Income taxes are not needed in the US.
The dollar collects more in sales tax than it is worth.
Obviously you didn’t listen to the President. He said that if he is reelected, you wont have to pay anything on the Payroll Tax Cut. Now, all you have to do is vote for trump and hope he wins. If he doesn’t, you will be stuck with Raise your Taxes Biden”.
Imagine if voters go into Election Day knowing that a vote for Democrats will result in a large personal tax bill — not at some unknown future time, but just two months or so later.
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Well, if Dems win there WILL be a large personal tax bill in the future because they will certainly raise taxes.
It might be a nice idea, but using Executive Orders to write tax law might be the crossing of the Rubicon, taking us from a Republic to an Empire.
Only if Congress approves it retroactively. And what is the chance of the Democrats doing that?
If he doesn’t, you will be stuck with Raise your Taxes Biden”.
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If Biden should win higher taxes will probably be the least of our problems. In short order the economy would tank and America would no longer be recognizable.
When you have taxes withheld from your paycheck, it’s based on a withholding schedule established by the U.S. Treasury Department, not by Congress. That’s because Congress gave this authority to the Treasury Secretary under the Internal Revenue Code.
So Congress can tell you that you must pay 6.25% of your income in FICA taxes, but it’s the Treasury Secretary who tells you whether you must have it deducted from every paycheck or whether you pay it all at one time at the end of the year.
See Post #31.
But on paper and as far as the federal courts are concerned, Congress hasn't recessed at all. This is what one might call a "legal fiction." Everybody knows it is false, but the law will pretend it is true in order to get the desired outcome.
The magic words "will be considered as" are a signal that the "equality" is fiction.
I earned it, shouldn’t I decide where it goes? So what if I save it. Investing in my retirement is an investment none the less and will produce fruits down the road. Investing in my property is the same sort of investment. Paying down debt would also strengthen the economy....if you believe debt is bad.
Otherwise, the money goes to Washington. I am infinitely better equipped to decide how this capital is allocated vs anyone in Washington. Anyone.
Trump did this yesterday. It’s old news.
It might be a nice idea, but using Executive Orders to write tax law might be the crossing of the Rubicon, taking us from a Republic to an Empire.
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The other two branches of government are not exactly playing by the rules either. Just saying.
Possibly it could be a way to weaken Pelosis' stranglehold on this election a bit, take away her bargaining power by taking away her ability to hold the Administration and the conservatives hostage on the coronavirus relief legislation as we move closer to the election. Lots of things are going to happen at a faster clip as we get closer to Nov 3rd.
It sounds like it is more of a 3D chess move on Trumps part more than it is a real tax cut, to shift the focus off of her death grip on the coronavirus relief package. These kind of things are more for shifting attention, shifting focus away from what it is you're actually doing. This is naturally only my opinion FWIW.
How can Trump forgive the deferment if elected? The only way that happens is if Republicans make a clean sweep and then if both houses of Congress agree.
I don’t get.it.
well, I guess that just makes it alright then. Especially since it is Trump doin it.
“He said that if he is reelected, you won’t have to pay anything on the Payroll Tax Cut.”
Obviously is a word people use when they are sure of something and sure that it is plainly clear to others.
Well it is obviously to me and others, the Republicans failed on the heath care during President Trump’s first two years when they had control. The elected Republicans failed on many things including shutting down the witch hunts.
Even if President Trump is re-elected, I doubt he will be able to get this done with the current Senate and House.
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