The temporary payroll tax deferral has "proven to be an ineffective policy at best," said Shai Akabas, director of economic policy at the Bipartisan Policy Center, a Washington, D.C., think tank.It's not the first time a payroll tax break has been used. President Barack Obama also implemented payroll tax reductions to help workers as the economy was recovering from the Great Recession. Back then, the move had more bipartisan support, Akabas said.
The group, which advocates for the preservation of both Social Security and Medicare, recently endorsed Democratic presidential nominee Joe Biden. It is the first time the group has backed a presidential candidate since it was founded in the early 1980s. "President Trump is taking action to boost the economy and help workers because Biden's allies in Congress are doing nothing," Tim Murtaugh, director of communications for Trump's re-election campaign, said in a statement.
You are a third rate reporter that has zero understanding in economics and finance. Go read a basic book in taxation. Whatever you were told to write will jump on your face. After you do your homework and rewrite the piece you’ll b doing a public service.
Pay the payroll tax back next year. Employees will be paying double until this tax break is paid off.
This is such bullshit. I've heard of no one that's actually doing it.
Free enterprise exchange or free commodity order
False
Hispanic, Black, Jew, Moslem...All with Flight From FASCIST OPPRESSION in Family History, Need Recall the Desperation of Seeking Safety, Freedom & Democracy! Narcissistic, Trump's a Corrupt, Authoritarian User, Like Totalitarian, Lawless Dictators, this Megalomaniac's an Abuser!
Only Mentally & Morally Challenged Could Still Consider Unfit Fascist-Like, Shamefully Lawless Trump Regime for Anything Other Than Lock-Up &/or Some Sort of Virtual Reality TV!
He understands that a lot of people rely on Social Security to put on the table,pay rent or mortgages, & pay utilities. He doesn't care about that because it doesn't affect him or his family. That is definitely not looking out for the people of America.
Social Securityhahahahahahahahahahahahahahahahaha Rip off from day 1
Nothing. Stop pushing the panic agenda. It’s already been debunked.
Gen X retirement plan in a nut shell...
This doesn’t take a whole article. Anyone not in a cult, knows we’re screwed!
He’s cutting taxes and interest rates to temporarily inflate corporate America’s numbers and in turn the stock market inflates. This only helps corporate America and his political agenda of hyping the economy. He is extremely short sighted.
Tinkering with the payroll tax would probably need the approval of Congress because it would directly effect Social Security and Medicare.
Awesome. So I’m going to keep paying into something that I won’t be able to utilize when I retire? Seems legit.... thanks for cutting taxes for the rich at the expense of the future generations and the poor.
....annnnnd it’s gone. Pretty much sums up Trumps strategy on SS.
Nothing Stop scaring people especially those who soon to retire Ridiculous
Fucc social security
I’m more worried about biden’s plan to eliminate the tax benefits of saving into a 401k
there are 8 comments, yet I see only one... twitter censorship at it again..
Nothing, none of it means anything. We'll just print more cash. We'll cut benefits by lying about inflation. Nothing to see here.
Fake news b's Obama*shit
B's fake news
Biden proposes to apply the Social Security payroll tax to income over $400,000 also. In 2020, the payroll tax is applied to income up to $137,700 only. This additional revenue should cover about 25-30% of the Social Security shortfall for 75 years.
Biden's plan.
Biden proposes to apply the Social Security payroll tax to income over $400,000. In 2020, the payroll tax is applied to income up to $137,700 only. This additional revenue should cover about 25-30% of the Social Security shortfall for 75 years.
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