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

[kurtcagle]

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.