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Yes, I don't disagree with that. But the deferrals (up until the point covered by any potential pardon) can also effectively be made permanent/forgiven by the power of the pardon. That's all I'm saying.
I wish it was permanent. Stop taxing me and give me the freedom to use private 401k accounts. Let the leftists use up the SS funds until it's zero. If leftists want money, they can get a job or live with their children.
Trump has vowed to protect SS and medicare. So you might want to use your vote.
If you haven't heard it already, Trump just signed an executive order to suspend the payroll tax.
THIS FUNDS YOUR SOCIAL SECURITY AND MEDICARE.
Trump said the employer portion of the payroll tax would be deferred from Aug. 1 through the end of the year, though the move would not directly aid unemployed workers, who do not pay the tax when they are jobless, and faces bipartisan opposition on Capitol Hill.
“If I win, I may extend and terminate,” Trump said, repeating a longtime goal but remaining silent on how he’d fund the Medicare and Social Security benefits that the 7% tax on employee income covers. Employers also pay 7.65% of their payrolls into the funds.
If you value your life and wellbeing- dump him in NOV.!!
The real point here is to cripple Social Security. That has been a long term political goal of the Republican party.
Not that a multi-billionaire like Trump needs it, but ordinary folks do, and it goes into their retirement calculations.
I think Medicare and Soc Security would be much more solvent if they were under private management by a group of large insurers, ie, both programs should be privatized... but, there is realistically no other way to run them except by imposing mandatory contributions - call them taxes, call them something else, same thing.
Since I had been self-employed for much of my career, I am fully aware of the full Soc Security+Medicare tax, because had been paying both the employer half and the employee half of it. If you are an employee, you pay only half of that tax - the employer pays the other half. Trump wants to suspend the EMPLOYER half of this tax for the second half of this year, making it easier for small business owners to save their businesses, and preserve jobs of their employees. He ultimately wants to do this permanently, as a business stimulus.
The remaining half of SocSecurity+Medicare (paid by employees) would remain, and it would have to double (at least) to keep the current funding of SS/MC. But, neither party supports Trump's proposal in its present form. He may succeed in deferral of employer portion of payroll tax for this year - to extend it past this year, it would be much harder, in the context of the enormous national debt. Due to this debt, he or anyone else will have to substantially overhaul the US tax structure anyway in the future years, but the net result will have to be increase in taxes. He is obviously trying to shift taxation from business taxes to personal income taxes, and that is in fact very much how taxation is done in Western Europe.
Interesting times ahead :-).
OMG! You would want our Medicare and Social Security run by private f#$$%$ companies? Wow! it must be terrible being so brainwashed by the Republican doctrine. Sad!
No, he said that the payroll tax holiday would be until the end of the year, but that it could be extended permanently if he was elected. That's stating a reality and there is nothing sinister about that. Democrats (and most Republicans) don't want a payroll tax holiday (this is Trump's baby), so if Trump is not reelected, then there is no chance that the holiday gets extended beyond that.
Contrary to how some leftists in this forum think that the Democrat Party will somehow be able to weaponize this, that ain't happening. And even Nancy Pelosi can see the writing on the wall, today signaling that there is "room to compromise" on the Democrats' demand for $600 a week unemployment: https://www.forbes.com/sites/nichola...-to-negotiate/
From what I gather, this was one of the points that Democrats previously were not willing to negotiate on.
Good job, President Trump.
Schumer had already stated... $600 supplemental unemployment is non negotiable. $400 is the compromise since the repubs wanted the amount $200
OMG! You would want our Medicare and Social Security run by private f#$$%$ companies? Wow! it must be terrible being so brainwashed by the Republican doctrine. Sad!
Why is having a different opinion than yours... brainwashing?
Most of our nations medical coverage is already run by private companies. Most people are good with their insurance.
Do you think the government has a good track record running the VA or Medicare?
If you haven't heard it already, Trump just signed an executive order to suspend the payroll tax.
THIS FUNDS YOUR SOCIAL SECURITY AND MEDICARE.
Trump said the employer portion of the payroll tax would be deferred from Aug. 1 through the end of the year, though the move would not directly aid unemployed workers, who do not pay the tax when they are jobless, and faces bipartisan opposition on Capitol Hill.
“If I win, I may extend and terminate,” Trump said, repeating a longtime goal but remaining silent on how he’d fund the Medicare and Social Security benefits that the 7% tax on employee income covers. Employers also pay 7.65% of their payrolls into the funds.
If you value your life and wellbeing- dump him in NOV.!!
Nope. He's doing exactly what I want him to do. No more socialist programs.
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