Trump should give payroll tax cut to 150 million workers and let Pelosi unleash her outrage

Fox Business ^ | 8-7-2020 | Stephen Moore

[Alberta's Child]

How can Trump forgive the deferment if elected?

He really can’t. Bank on the fact that this “forgiveness” will become a major campaign theme for the GOP.

[bert]

-——executive overreach——

Perhaps you forget.

America is in the midst of a declared emergency. Executive action in the emergency is not overreach.

There is no actual legislative lethargy for the simple reason that there is no raw political power to push something through. The Democrats can’t legislate

[voicereason]

Why do you ignore the fact that America is under extreme duress and fret and whine about debt?

Probably because it is largely due to panic that never should have occurred. Oh, and a Congressional declarations of war is exactly where it should begin.

[DEPcom]

I was thinking the stimulus checks was taxable.

Experian: Will the Stimulus Check Affect Your Taxes?

"The stimulus money is not considered taxable income. The check will not increase the amount you owe when you file your 2020 federal tax return and will not decrease your refund for the 2020 tax year."

[PeterPrinciple]

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.

---

Ah, do you remember the dilemma of how they started withholding? Think about the problem. People had to pay last years tax and this years in the same year.

How did it get sold? We had some real thinkers back then, I suspect the mechanisms are still in place.

[marktwain]

It it executive overreach or is it because of legislative lethargy?

In my opinion, it is executive leadership because the Republic faces an existential threat in the form of the radical left.

The Left now controls the House, which has an effective veto on legislative action.

Their latest tantrum amounts to: give in to our demands to destroy the Republic (bail outs of near insurgent cities and states who have been run into the ground by leftists, inviting more of the same).

So, President Trump is following his oath of office, to defend the Constitution, to the best of his ability, with considerable courage.

The Democrats will not cooperate. They threaten destruction rather than follow the Constitution.

[bert]

Fortunately you are not in charge or you wouldn’t be making the baseless accusations

[ronnie raygun]

decrepit botox souse is done after november

[DEPcom]

“Bank on the fact that this “forgiveness” will become a major campaign theme for the GOP.”

I hope we can bank on it. I have a loss faith in the republican party. They will waste it like they wasted President Trump’s first two years.

[ltc8k6]

“This is just an extremely bad precedent for America. Just because it is Trump, does not make it any favorable or appealing.”

Didn’t we have a payroll tax holiday back in 2011 or so under Obama?

Also, most people probably did not have SS or Medicare taxes withheld from their unemployment pay. So for all this time, they have not been contributing to SS.

[AnotherUnixGeek]

Every worker would get a 7.5% boost in their paychecks starting as early as next week.

Not every worker - every worker who makes less than $100k a year. These cap levels aren't particularly fair - people making over that cap pay a fortune in payroll taxes and should be able to get some relief as well.

[marktwain]

I don't think I said it was bad precedent.

Your points about executive power are well stated.

[DannyTN]

"Does it even matter anymore, stroke of the pen, law of the land."

I think Trump is operating within the law. I read somewhere that Trump didn't do another $1200 because the law didn't support it. But it's also possible that Trump is pushing the precedent set by the SCOTUS ruling on DACA to maximize his accomplishments while forcing Congress to put the Genie back in the bottle.

It was a brilliant move. Wait for Congress to reach an impass. then act unilaterally to help people who need help and help the economy. It puts the Democrats in an impossible position. Trump gets full credit for the move. Democrats look horrible if they challenge him.

[Brian Griffin]

Allowing people to slip into payroll tax debt is a bad idea.

Payroll taxes are withheld by employers.

If the payroll taxes are not withheld by employers, tort lawyers might sue the employers for negligence.

[Rapscallion]

Agree

[DEPcom]

“Didn’t we have a payroll tax holiday back in 2011 or so under Obama?”

Did Bush do one too after 9/11?

[Starboard]

Otherwise, the money goes to Washington. I am infinitely better equipped to decide how this capital is allocated vs anyone in Washington. Anyone.

**************

Its a shame that Americans and their “representatives” in Washington don’t see or care about the vast amount of our tax dollars that is wasted every day on dubious projects, favoritism, mismanagement and political corruption. The government talks about internal controls and oversight but the reality is that they don’t do it.

[ltc8k6]

I don’t know, but we had one for two years in 2011 and 2012.

https://taxfoundation.org/why-your-2013-paychecks-are-2-percent-less/

Was there a lot of Dem screaming about it killing Social Security?

[marktwain]

How did it get sold? We had some real thinkers back then, I suspect the mechanisms are still in place.

It was during WWII. Milton Friedman came up with the idea, as I recall.

He much regretted it later.

War is the health of the state.

As long as the state doesn't lose the war.

[Starboard]

I have a loss faith in the republican party.

************

I have zero faith. It is a fake party.