Trump executive orders! Today.. like a Don.. steps in to show he will help American people!

No it's not, it's a payroll tax holiday, the money has already been appropriated from the CARES ACT (150 billion) and the corona relief act (another 80 billion) and it starts in September and only goes to the end of the year.

I find it hilarious that these idiots cant see the righting on the wall.

Libiot:OMG HE IS ONLY SUSPENDING TAXES!!!
You will have to pay it at the end of the year!

Me: He controls the IRS now and is only "suspending" it until he can end it ya idgit.

Can you even read? It's a deferral. It's right there in the title of the memorandum.

It says its a no interest deferral"

Amounts deferred pursuant to the implementation of this memorandum shall be deferred without any penalties, interest, additional amount, or addition to the tax.

It even promises that Steve Mnuchin will "explore" ways you might not have to pay it back. Next year.

Sec. 4. Tax Forgiveness. The Secretary of the Treasury shall explore avenues, including legislation, to eliminate the obligation to pay the taxes deferred pursuant to the implementation of this memorandum.


Yeah, sure. Count in it.

What part of tax deferral do you not understand?

Maybe you should rethink your line of work.
It was obviously not in service to others lol.

But this is only a payroll tax referral. That's 7% of your paycheck.

And it's only deferred. You'll be paying it back next year.

We will see. That will be made clear in a few day. Don't need the guessing of some Yahoo without an accounting degree.

It's clear right now. It's a payroll tax deferral, You will still owe it.

Read Trump's presidential memorandum:

From the presidential memorandum:

Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster

Sec. 2. Deferring Certain Payroll Tax Obligations. The Secretary of the Treasury is hereby directed to use his authority pursuant to 26 U.S.C. 7508A to defer the withholding, deposit, and payment of the tax imposed by 26 U.S.C. 3101(a), and so much of the tax imposed by 26 U.S.C. 3201 as is attributable to the rate in effect under 26 U.S.C. 3101(a), on wages or compensation, as applicable, paid during the period of September 1, 2020, through December 31, 2020, subject to the following conditions:

(a) The deferral shall be made available with respect to any employee the amount of whose wages or compensation, as applicable, payable during any bi-weekly pay period generally is less than $4,000, calculated on a pre-tax basis, or the equivalent amount with respect to other pay periods.

Amounts deferred pursuant to the implementation of this memorandum shall be deferred without any penalties, interest, additional amount, or addition to the tax.

[link to www.whitehouse.gov (secure)]

At this point we are almost 2 weeks behind on pmts. Thanks to him CHANGING the amt from $600 to $400, every state needs to change their systems. One would think that this would be an easy change, but given the complete incompetence most of them have displayed thus far, this could cause delays of more weeks before the flow starts again. He should have left it at $600 and done a simple extension.

Even easier, if McConnell would have agreed to $600, the amount passed five weeks ago in the House bill, we would have a complete, signed stimulus bill today.

Payroll tax cuts is way better than a stimulus payment. Stimulus payments lead to inflation since its just money being printed and not backed by anything. On the other hand, payroll tax cuts is money,already circulating, that Americans workers get taken from them.

In addition, it could be way more than a stimulus check depending on how much you make. The employee side of these taxes is 7.65%.therfore, if you make $50,000 a year. You would save $3,825 per year. Its only for half the year which would equate to $1,912.5. It is capped at 100k so it doesn't help the rich.

I'm not sure if the employer side is cut too. But if it is it allows them to hire new employees.

The payroll tax cut and extended unemployment covers everyone who was affected by a closing economy.

Amounts deferred pursuant to the implementation of this memorandum shall be deferred without any penalties, interest, additional amount, or addition to the tax.

Means pretty much means a person can delay payment indefinitely without penalty. Send them a ten bucks a month.

The part where he says they will be forgiven and could become permanent next year.

(My mistake on CARES and corona relief act, those funds replace state taxes paid to the federal government).

Even easier, Pelosi could have agreed to the Covid liability exemption for business.

One problem, Palosi wants 1200$ checks for ILLEGAL ALIENS you moron.

If Democrats weren't padding the stimulus bill with a commie wish list of horse shit, we'd have a stimulus bill.

Fuck you, democrat. Had enough of you Share Blue shilling.

I'm voting Trump. Fuck you and kicking the can down the road for China. You fat antifa mf.

No it doesn't. This only defers your obligation to pay the tax. It does not eliminate it.

But look at this in the Memorandum:

Sec. 4. Tax Forgiveness. The Secretary of the Treasury shall explore avenues, including legislation, to eliminate the obligation to pay the taxes deferred pursuant to the implementation of this memorandum.

[link to www.whitehouse.gov (secure)]

So Steve Mnuchin will "explore avenues" to eliminate your obligation to pay the taxes next year.

Count on it.

Have you ever seen such smoke and mirrors? lol

There is nothing in that memorandum that says the taxes will be forgiven. Nothing. Stop deluding yourself and read it.

Uh-huh. :-)

You better set some money aside. It's entirely possible that we could be required to pay those deferred taxes back when we file our 2020 tax returns next year.

That will be painful for a lot of people, but Trump doesn't care. It's after the election.

I'm not paying any of MY MONEY BACK EVER EVER EVER!!!!

LOL :-D



Last Edited by rev18_6 on 08/08/2020 10:59 PM

I'm not sure how increasing our national debt by $6T in one year is helping us.

that's what I'm screaming. I really hope this holds out b/c I can't really understand how awesome this will be with no fed taxes out of my check. OMG!!!

It's not your social security money.

It's my money.

It's not your welfare money.

It's my money.

It's not your reparations money.

It's my money.

It's not your medicare money.

It's my money.

It's not your money to redistribute.

It's my money.

It's not your government student grant money.

It's my money.

My money.

My money.

My money.

Last Edited by rev18_6 on 08/08/2020 11:10 PM

Hey genius, you're mixing two different executive orders.

Try being an American.

Where's my fucking stimulus check, Donald? Payroll tax cuts don't exactly help those of us whose businesses are still closed by the state government.

Plus only mail in voting and no id and all kind of other things to help the Democrats steal the election.

saddle up we got a boss