What Trump's payroll tax deferral really means

[Ben Thomson]

It will mean smaller paychecks starting in 2021..Workers will see smaller paychecks next year under Trump's payroll tax deferral

 

[White 6]

It will mean smaller paychecks starting in 2021..Workers will see smaller paychecks next year under Trump's payroll tax deferral

I thought it was just to defund Social Security and Medicare. Really just a Used car lot pitch like nothing down, put off payments next year, for the suckers. What a huckster.

 

[Darkwind]

It will mean smaller paychecks starting in 2021..Workers will see smaller paychecks next year under Trump's payroll tax deferral

It will also mean smaller tax returns in 2022 as the government takes the taxes they did not collect.

What do you think the word 'deferred' means?

 

[debbiedowner]

It will mean smaller paychecks starting in 2021..Workers will see smaller paychecks next year under Trump's payroll tax deferral

I thought it was just to defund Social Security and Medicare. Really just a Used car lot pitch like nothing down, put off payments next year, for the suckers. What a huckster.

A re election ploy. Yep, has to be paid back either the way the article reads or the employee at tax time. It will be a sad state when some employee's are expecting a nice tax return and instead have to pay not only because of the deferral but many don't know that all their unemployment payments are taxable.

 

[danielpalos]

It will mean smaller paychecks starting in 2021..Workers will see smaller paychecks next year under Trump's payroll tax deferral

It will also mean smaller tax returns in 2022 as the government takes the taxes they did not collect.

What do you think the word 'deferred' means?

A multi-syllable word that could be too complicated for the right wing to understand.

 

[georgephillip]

It will mean smaller paychecks starting in 2021..Workers will see smaller paychecks next year under Trump's payroll tax deferral

Your link:

"On Friday, the Internal Revenue Service (IRS) and Treasury Department told employers that they would be liable to pay back what they defer from their employees’ paychecks under the executive memo, so workers won’t face a huge tax bill when they file their 2020 federal returns.

"To accomplish this, employers would take double the Social Security tax out of employees’ paychecks in the first four months of 2021 to pay Uncle Sam for the amount deferred at the end of 2020, according to Pete Isberg, vice president of government affairs at the payroll company ADP."

When you consider how much worse the MAGA virus' effect on the economy could be during Q1 2021, workers might regret Trump's latest tax break.

 

[rightwinger]

It will mean smaller paychecks starting in 2021..Workers will see smaller paychecks next year under Trump's payroll tax deferral

I thought it was just to defund Social Security and Medicare. Really just a Used car lot pitch like nothing down, put off payments next year, for the suckers. What a huckster.

He only cares about November

 

[Fort Fun Indiana]

A re election ploy.

Oh, for sure. the second part of it will be when he promises to forgive those deferred taxes, if elected. Trump, of course, is far too stupid or shallow to have thought of this douchey plan.The same goes for his closest advisers (like his moron son-in-law). This has Bannon or Mnuchin written all over it.

 

[Fort Fun Indiana]

He only cares about November

What?!?!? How can you say such a thing, when he has such big plans for his second term?!?!?!


"Twenty-four hours earlier, he had a very hard time saying exactly what he would do with another four years.

"But so I think, I think it would be, I think it would be very, very, I think we'd have a very, very solid, we would continue what we're doing, we'd solidify what we've done, and we have other things on our plate that we want to get done," Trump told The New York Times' Peter Baker." - CNN

 

[Darkwind]

It will mean smaller paychecks starting in 2021..Workers will see smaller paychecks next year under Trump's payroll tax deferral

It will also mean smaller tax returns in 2022 as the government takes the taxes they did not collect.

What do you think the word 'deferred' means?

A multi-syllable word that could be too complicated for the right wing to understand.

Its okay if you don't know the meaning of the word. Just don't pretend to understand the issue before us if you don't.