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Tue Mar 10, 2020, 03:16 PM

trump pitched a 0% payroll tax rate for the rest of this year

LOL

Desperation

Seriously, how will this country pay for stuff if it gets no revenues?

https://www.cnbc.com/2020/03/10/trump-pitched-0percent-payroll-tax-rate-for-the-rest-of-this-year-white-house-officials-say.html

17 replies, 1247 views

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Response to Goodheart (Original post)

Tue Mar 10, 2020, 03:18 PM

1. what a fucking moron he is

such an empty shell, THERE IS NOTHING THERE

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Response to Goodheart (Original post)

Tue Mar 10, 2020, 03:18 PM

2. Apparently You Haven't Heard.

"The rich pay all the taxes".
This is the DU member formerly known as jayfish.

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Response to Goodheart (Original post)

Tue Mar 10, 2020, 03:18 PM

3. Hey, fuck the future! nt

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Response to Goodheart (Original post)

Tue Mar 10, 2020, 03:18 PM

4. So what tax form will you receive?

No payroll tax implies a 1099, where you will owe both sides of the tax, instead of the usual W2. Make sure to read the fine print.

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Response to Goodheart (Original post)

Tue Mar 10, 2020, 03:19 PM

5. I got a variant

Reduce the rate for now and eliminate the cap to where you are collecting the same amount of revenue. When the economy starts going again, increase the rate back to its prior value.

I mean who could argue with this.

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Response to Goodheart (Original post)

Tue Mar 10, 2020, 03:21 PM

6. that adds 3 trillion to the 1 trillion projected budget deficit

That is exactly why his ass was run out of Atlantic City, and why no bank will loan him a hamburger unless he is backed by Russia.

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Response to Goodheart (Original post)

Tue Mar 10, 2020, 03:22 PM

7. He simply wants to destroy Social Security

...along with the rest of any functional government.
It's all about him. He believes this insane move will keep the economy going - past the point where it fell off the cliff.
In the process, Social Security will not be funded and he'll either suspend or significantly reduce those payments.
He got his. The rest of us? Who cares?

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Response to Goodheart (Original post)

Tue Mar 10, 2020, 03:23 PM

8. If he looses, it will someone elses problem to run a country with no income

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Response to Goodheart (Original post)

Tue Mar 10, 2020, 03:24 PM

9. Payroll taxes are for Social Security and Medicare.

If you are not self-employed, the employer and employee each pay half, which is roughly 6% of your wages.

This isn't much of an increase to an income, and what difference will it make, if you can't go to work, due to school closure, or some other reason?

Increased unemployment or disability benefits and food stamps, would do a lot more.

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Response to Goodheart (Original post)

Tue Mar 10, 2020, 03:25 PM

10. "Hey Don, throw in healthcare and buy the election why dontcha !!"

He can't be offering a 0% payroll tax rate because of his awesome economy. Everyone is making so much money, what do they need a tax cut for?

Nor can he be offering it because of the "hoax" virus

He's so shallow and obvious

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Response to Goodheart (Original post)

Tue Mar 10, 2020, 03:36 PM

11. Welllll ...


Seriously, how will this country pay for stuff if it gets no revenues?

I dunno but its worked for him his entire life.



And at the same time: how do you lose money owning real estate in NYC, or Casino resorts?

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Response to Goodheart (Original post)

Tue Mar 10, 2020, 03:44 PM

12. Since day 1 Trump has been working on his seventh bankruptcy.

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Response to Goodheart (Original post)

Tue Mar 10, 2020, 03:54 PM

13. Any proposal has to get through Pelosi first

Payroll tax is going to be a non-starter, in part because the longer the Coronavirus continues to rise the more likely that companies will simply start cutting employment, especially for the SMB sector.

Right now, companies have the right idea - push work from home, keep everyone paid, do whatever is necessary to keep things from spreading. A payroll tax vacation is pushing on a string, compared to declaring a general state of emergency and letting the professionals do their jobs. They payroll tax idea was enough to prop the market up today, but I expect once investors have a chance to actually consider how little it will do to help the problem, the next few days will be brutal.
This is the DU member formerly known as kurtcagle.

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Response to Goodheart (Original post)

Tue Mar 10, 2020, 03:58 PM

14. Yawn. Give Medicare to all those who will be out of work. Force Mort companies to forego payments

And make landlords have to accept no rent until this is over, reimburse as required.
This is the DU member formerly known as Dem2.

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Response to Goodheart (Original post)

Tue Mar 10, 2020, 03:59 PM

15. This is the payroll tax that FUNDS SOCIAL SECURITY, get it now?

He is chipping away at Social Security from the funding side, then announces oh the fund is not strog, time to cut benefits. See how that will work? That's where they are going with this.

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Response to Goodheart (Original post)

Tue Mar 10, 2020, 04:01 PM

16. its an excuse to go back and cut social security benefits and medicare, always been a plan, so no

 

chance of Pelosi agreeing to this without boilerplate protection current and future retirees

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Response to Goodheart (Original post)

Tue Mar 10, 2020, 04:44 PM

17. As long as he and McConnell bankrupt SS and Medicare they would win.

This action would do that!

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