General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThe 0% payroll tax for the rest of the year is a ploy to destroy Social Security and Medicare, and
the Democrats should not be fooled by this nonesense
Providing free testing, healthcare support to those affected by the virus, funding for vaccine development, treatments, and health safety are necessary, as well as extending unemployment benefits etc. are all important to get through this crisis, in addition to providing aid to the travel industry, and other industries affected by this.
Reducing interest rates to zero percent, and providing liquidity is also necessary
but the 0% payroll tax will do NOTHING, except harm social security and medicare
Johonny
(20,895 posts)This does nothing to get them money to stay at home when sick etc...
still_one
(92,433 posts)is needed
yellowdogintexas
(22,277 posts)by burdening it with a huge prefunding of benefits with a very short payback time.
I hope the House can keep this from happening
still_one
(92,433 posts)2naSalit
(86,822 posts)Bettie
(16,130 posts)is he enacting this fuckery by Exec. Order?
Because I don't think the House will go for this.
still_one
(92,433 posts)nykym
(3,063 posts)how will that impact our taxable income?
I really doubt we will be given a pass on paying what the government says is due come tax time.
SCantiGOP
(13,874 posts)Rates are now near record lows. None of our economic problems are caused by high interest rates and the inability of business to get operating capital.
Cutting rates further will do nothing but give a very small and very temporary boost to the economy. We need to keep some tools to use in case we do fall into a deep recession. If rates are already at zero, our options are very severely limited.
kimbutgar
(21,215 posts)Lower the withholding rate but eliminate the cap to make up the shortfall.
ProudMNDemocrat
(16,808 posts)How Republicans can support this is Anti-American.
Democrats will message this for what it looks like...destroy the promise to the Seniors of this country, many of them Trumpers.
still_one
(92,433 posts)blueinredohio
(6,797 posts)Can you imagine what you will be paying in taxes next year at tax time? They're not going to let it go you will pay your share sooner or later. Like the tax cut for the rich, I had to have my withholding raised just to break even.