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Attention - here is the scoop on the payroll tax cut

 
rev18_6

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08/09/2020 02:29 PM
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Re: Attention - here is the scoop on the payroll tax cut
If this is what despotism looks like, I'm on board.

Let's roll.

xmas



Last Edited by rev18_6 on 08/09/2020 02:41 PM
Anonymous Coward
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08/09/2020 02:31 PM
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Re: Attention - here is the scoop on the payroll tax cut
WARNING TO ALL: Social Security is 100% funded by our payroll tax contributions. Trump's "permanent payroll tax cut" ends Social Security forever. All that money you paid in your whole life will be gone.

Think long and hard on that before you cast your vote.

 Quoting: Anonymous Coward 77921420


you idiots dont realize that they are slowly destroying social security with these cuts.
 Quoting: trinspuppet 77122586


Fucking this. It's not just those of us who paid all our lives and we're a few years out from SS and Medicare. What do you do with millions of Americans already surviving on it and relying on it for their health care after it collapses?

This year marks 40 years that I've been paying in. No, it's not socialist, it's our fucking money and for some of us who aren't millionaires the only way we will have a survival retirement.
Anonymous Coward
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08/09/2020 02:33 PM
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Re: Attention - here is the scoop on the payroll tax cut
Keliani is correct, the cut is referring to SS and Medicare which results in 7.65% (6.2 for SS and 1.45% for Medicare).

So, if your Gross Check every two weeks is $3,000, you’ll save $229.50 or about $460 per month. Obama has a similar payroll tax cut back in 2011 and 2012, but his only consisted of a 2% reduction (6.2 to 4.2%) in SS.

I agree with another thread posted by someone that said something big must be coming as this is a drastic move by Govt. They almost never have a payroll tax holiday.

Some folks are fussing as this cut does “nothing to help the unemployed”. Well, I’m sorry, the unemployed are receiving a $600 weekly paycheck from money out of thin air to sit at home to play their TurboGrafx-16 (yeah, I went old school) in their parent’s basement. What it won’t help are the disabled and the retirees; not the retirees with $3MM in their IRAs, I’m referring to the ones living off $1,400 a month in SS like some of my relatives.
 Quoting: Texas Dave


"I’m referring to the ones living off $1,400 a month in SS like some of my relatives."

 Quoting: Anonymous Coward 69693440


There's also Medicare. What happens to an 80 year old when that goes away? Buy health insurance?
Anonymous Coward
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08/09/2020 02:33 PM
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Re: Attention - here is the scoop on the payroll tax cut
Look. I support Trump too. But very bold move? C'mon.

Obama took this very bold move too.

It just sounds silly to categorize it that way.

A very bold move would have been all three
Anonymous Coward
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08/09/2020 02:36 PM
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Re: Attention - here is the scoop on the payroll tax cut
Income tax and payroll tax are 2 different things. Everyone, including retirees and those out of work pay income tax either from a paycheck or at the end of year filing. Payroll tax is separate and is what pays retirees Social Security and partially Medicare. What Trump has done is to weaken an already weak Social Security platform, so anyone hoping to retire in the next 40 years better make alternate plans.
 Quoting: Kpduties 74495628


Good riddance to that socialist bullshit that was supposed to be temporary!

Incompetent, wasteful, bloated nanny state gubment should never be allowed to allegedly save our earned income.

Save our own selves!
 Quoting: Anonymous Coward 79098707


Social security will always survive. It will simply be 20% in the near future. It's the path to socialism. Same with medicare. Will never go away.
Anonymous Coward
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08/09/2020 02:38 PM
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Re: Attention - here is the scoop on the payroll tax cut
“If I am victorious on November 3rd, I plan to forgive these taxes and make permanent cuts to the payroll tax... I’m going to make them all permanent.”

Oh sure, you can bank on Trump's "if I am elected" promise on that one. First of all, it would take an act of Congress to eliminate Social Security and Medicare. Secondly, do we really believe his promise? How about these promises:


Trump, July 19th: "We're signing a healthcare plan within two weeks, a full and complete healthcare plan. We're going to sign an immigration plan, a healthcare plan, and various other plans. "

Where's that healthcare plan?

Where's that immigration plan?

Where are those "various other plans"?

And we're supposed to believe this whopper. He'll promise whatever you want to hear for your vote, then it just becomes another bait and switch.
 Quoting: Anonymous Coward 77921420


It's always this way with con men. They keep you on the hook, keep you paying and your reward is always just around the corner. They just keep that carrot out there, promise them more in a couple of weeks and the suckers keep following that carrot like a line of sheep.

So vote for Trump and he's promising you even more free money if he wins. FFS, this one is almost like banana republic vote buying.
darth

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08/09/2020 02:39 PM

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Re: Attention - here is the scoop on the payroll tax cut
I have an MS in Econ. With that and $2.50 I can buy a latte'.

However, between this bold move and the $1.8 TRILLION that Treasury has available to spend in the next few months, I expect:

1. Serious increases in production and employment. For example, the fedgov can accelerate purchase via DoD and other agencies.

2. Beginning of inflation. Wages will lag because there are so many unemployed willing to work for prevailing wages. However, FOOD, consumer goods that used to come from China, capital equipment such as machine tools, rural RE, and many other things will go UP in price.

3. Expecting inflation, savvy investors will invest in GOODS that hold value. Example: what will a warehouse full of coffee be worth in two years? Gold and silver, NO BRAINER.

The combined actions will be like giving a huge dose of meth to the economy.

But....what happens if the pandemic takes off again in the Winter? What if long term health effects such as heart damage start to put people in nursing homes? What will be the cost of care for all those who suffer secondary effects from the virus?

Will we go to war over the bio attack? Will there be more? Will wars break out in MENA, India-China border, Taiwan, or wherever?

Unknowns!

What can YOU do? PREP! Get your debts paid off. Stock up on foods and any essential needed for the next few years. CUT your standard of living.

My wife, The Queen, and I have cut our cost of food, fuel, clothing, etc. by more than 50%. For example, I don't buy bread; I bake bread from scratch for a fraction of the cost. We have a garden, chickens, and a milk cow.

We have ZERO debt.

However, I am negotiating to purchase a farm next to mine in order to plant more and have more pasture for my cows. That land will go up in value.
Nosy gal

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08/09/2020 02:39 PM
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Re: Attention - here is the scoop on the payroll tax cut
OP,
Correction: The Executive Order is for the 2nd and 3rd items on your list. There is already a number of news articles saying Trump is going to mess up Social Security and Medicare with this EO. People will still have to pay Federal Income tax.

And this does not apply to anyone making over $100k a year.
 Quoting: doglikeRoRuctions


100k?

People who make 100k are rich arrogant pricks mostly who have absolutely no fucking clue that they are.

Lol
 Quoting: Anonymous Coward 78843057


Go flip more burgers, 100k isn’t rich...wtf people are getting dumber and dumber
embu
User ID: 76993552
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08/09/2020 02:42 PM
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Re: Attention - here is the scoop on the payroll tax cut
Income tax and payroll tax are 2 different things. Everyone, including retirees and those out of work pay income tax either from a paycheck or at the end of year filing. Payroll tax is separate and is what pays retirees Social Security and partially Medicare. What Trump has done is to weaken an already weak Social Security platform, so anyone hoping to retire in the next 40 years better make alternate plans.
 Quoting: Kpduties 74495628


But wait a minute. What I pay in is supposed to fund ME. Not people from 40 yrs ago. So maybe you should think about who robbed SS and put it in the general account and used it to fund things 40 yrs ago. So needed your voice back then when the conservatives warned that the democrats were stealing from SS. SS was supposed to be left alone so that it piled continue to earn interest and not need new people to fund for old people.
 Quoting: CountryWise


actually roosevelt knew it wouldnt work, ie:vote buying scheme.
johnson replaced the fund with IOU's for his war on poverty.
darth

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08/09/2020 02:43 PM

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Re: Attention - here is the scoop on the payroll tax cut
WARNING TO ALL: Social Security is 100% funded by our payroll tax contributions. Trump's "permanent payroll tax cut" ends Social Security forever. All that money you paid in your whole life will be gone.

Think long and hard on that before you cast your vote.

 Quoting: Anonymous Coward 77921420


you idiots dont realize that they are slowly destroying social security with these cuts.
 Quoting: trinspuppet 77122586


Fucking this. It's not just those of us who paid all our lives and we're a few years out from SS and Medicare. What do you do with millions of Americans already surviving on it and relying on it for their health care after it collapses?

This year marks 40 years that I've been paying in. No, it's not socialist, it's our fucking money and for some of us who aren't millionaires the only way we will have a survival retirement.
 Quoting: Anonymous Coward 78411938


I am sorry to report that SS, Medicare, and Medicaid ate the entire budget. They are dying because of demographics and the effects of decades of overspending.

Even if you got that SS check, inflation will kill it.

We are about to experience a financial implosion as all the bubbles and promises implode.

I am already on SS. We will all feel the pain.
Anonymous Coward
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08/09/2020 02:43 PM
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Re: Attention - here is the scoop on the payroll tax cut
Keliani is correct, the cut is referring to SS and Medicare which results in 7.65% (6.2 for SS and 1.45% for Medicare).

So, if your Gross Check every two weeks is $3,000, you’ll save $229.50 or about $460 per month. Obama has a similar payroll tax cut back in 2011 and 2012, but his only consisted of a 2% reduction (6.2 to 4.2%) in SS.

I agree with another thread posted by someone that said something big must be coming as this is a drastic move by Govt. They almost never have a payroll tax holiday.

Some folks are fussing as this cut does “nothing to help the unemployed”. Well, I’m sorry, the unemployed are receiving a $600 weekly paycheck from money out of thin air to sit at home to play their TurboGrafx-16 (yeah, I went old school) in their parent’s basement. What it won’t help are the disabled and the retirees; not the retirees with $3MM in their IRAs, I’m referring to the ones living off $1,400 a month in SS like some of my relatives.
 Quoting: Texas Dave


"I’m referring to the ones living off $1,400 a month in SS like some of my relatives."

 Quoting: Anonymous Coward 69693440


There's also Medicare. What happens to an 80 year old when that goes away? Buy health insurance?
 Quoting: Anonymous Coward 78411938


As if any insurance company would sell a policy to an 80 year old. And what would they pay for it with after their social security checks stop coming?

What do we do with the elderly then? Just let them die in the streets?

Now if you are part of the wealthy elite, of course this is of no concern to you and your family. Do you think any of those fat cats in Trump's Bedminster audience who are paying $200,000/year in membership dues are concerned about this?
Anonymous Coward
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08/09/2020 02:47 PM
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Re: Attention - here is the scoop on the payroll tax cut
“If I am victorious on November 3rd, I plan to forgive these taxes and make permanent cuts to the payroll tax... I’m going to make them all permanent.”

Oh sure, you can bank on Trump's "if I am elected" promise on that one. First of all, it would take an act of Congress to eliminate Social Security and Medicare. Secondly, do we really believe his promise? How about these promises:


Trump, July 19th: "We're signing a healthcare plan within two weeks, a full and complete healthcare plan. We're going to sign an immigration plan, a healthcare plan, and various other plans. "

Where's that healthcare plan?

Where's that immigration plan?

Where are those "various other plans"?


And we're supposed to believe this whopper. He'll promise whatever you want to hear for your vote, then it just becomes another bait and switch.
 Quoting: Anonymous Coward 77921420


It's always this way with con men. They keep you on the hook, keep you paying and your reward is always just around the corner. They just keep that carrot out there, promise them more in a couple of weeks and the suckers keep following that carrot like a line of sheep.

So vote for Trump and he's promising you even more free money if he wins. FFS, this one is almost like banana republic vote buying.
 Quoting: Anonymous Coward 77963055


And there are actually suckers here who believe this pie in the sky "if I am elected" promise?

I've got a bridge I want to sell you.
Anonymous Coward
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08/09/2020 02:47 PM
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Re: Attention - here is the scoop on the payroll tax cut
[…]

My wife, The Queen, and I have cut our cost of food, fuel, clothing, etc. by more than 50%. For example, I don't buy bread; I bake bread from scratch for a fraction of the cost. We have a garden, chickens, and a milk cow.

We have ZERO debt.

However, I am negotiating to purchase a farm next to mine in order to plant more and have more pasture for my cows. That land will go up in value.
 Quoting: darth


Cities counties and sheriff and troopers made all that illegal.
Un employees disallowing food and arms.
Achduke7

User ID: 78023456
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08/09/2020 02:47 PM

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Re: Attention - here is the scoop on the payroll tax cut
Nobody under 60 is getting SS anyway. What a scam it is. Collapse it and let it die already.
 Quoting: Anonymous Coward 79113477


Everyone will receive SS and Med. Now after hyperinflation and all the money printing you will be able to buy a loaf of bread.
Achduke
Terrebonne

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08/09/2020 02:50 PM

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Re: Attention - here is the scoop on the payroll tax cut
Is it eliminated or deferred?

You realize most of what they are doing is forcing
people into more debt, since they won't borrow
voluntarily anymore.


.
 Quoting: Anonymous Coward 79245219


It is a payroll tax holiday, meaning you will not have to pay it back.
 Quoting: AggregateThreat


^^^
THIS

taxes

.
INFJ; We are the protectors.
Kpduties
User ID: 75530758
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08/09/2020 02:51 PM
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Re: Attention - here is the scoop on the payroll tax cut
"Listen up, socialist idiot.

SS paid now by everyone under 65 is going to the retired over 65, handicapped, illegals and leeches claiming they have A.D.D.

Save for yourself! NO MORE HANDING OVER OUR EARNED MONEY TO CORRUPT GOVT LIARS

THINK long and hard on that when you vote!"



So the 50 million people in the U.S. who survive on Social Security and Medicare because they paid into the program for 40 plus years today are socialist scum. I thought they were our mothers, fathers, uncles, aunts, grandparents. I sure hope those 50 million think long and hard when they vote.
rev18_6

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08/09/2020 02:51 PM
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Re: Attention - here is the scoop on the payroll tax cut
Keliani is correct, the cut is referring to SS and Medicare which results in 7.65% (6.2 for SS and 1.45% for Medicare).

So, if your Gross Check every two weeks is $3,000, you’ll save $229.50 or about $460 per month. Obama has a similar payroll tax cut back in 2011 and 2012, but his only consisted of a 2% reduction (6.2 to 4.2%) in SS.

I agree with another thread posted by someone that said something big must be coming as this is a drastic move by Govt. They almost never have a payroll tax holiday.

Some folks are fussing as this cut does “nothing to help the unemployed”. Well, I’m sorry, the unemployed are receiving a $600 weekly paycheck from money out of thin air to sit at home to play their TurboGrafx-16 (yeah, I went old school) in their parent’s basement. What it won’t help are the disabled and the retirees; not the retirees with $3MM in their IRAs, I’m referring to the ones living off $1,400 a month in SS like some of my relatives.
 Quoting: Texas Dave


"I’m referring to the ones living off $1,400 a month in SS like some of my relatives."

 Quoting: Anonymous Coward 69693440


There's also Medicare. What happens to an 80 year old when that goes away? Buy health insurance?
 Quoting: Anonymous Coward 78411938


As if any insurance company would sell a policy to an 80 year old. And what would they pay for it with after their social security checks stop coming?

What do we do with the elderly then? Just let them die in the streets?

Now if you are part of the wealthy elite, of course this is of no concern to you and your family. Do you think any of those fat cats in Trump's Bedminster audience who are paying $200,000/year in membership dues are concerned about this?
 Quoting: Anonymous Coward 77963055


Did that same 80 year old socialist consider the world his great grandchildren would live in? A world where he had carped off the system in his time and by the time his progeny came to retirement they would live in a 3rd world socialist hellhole?

If not, why should I care about what that 80 year old thinks? Did the 80 year old care about my future? Did he even consider it?

There's no fool like an old fool.

If that seems indelicate me of me, my question is how sensitive and visionary were the war generation and Baby B**mers to keep up this sham all these years when there's going to be nothing in it for me.

The shortest straw was pulled for my generation by their generation.

Did you think we were as stupid as the public schools you funded tried to make us?



Last Edited by rev18_6 on 08/09/2020 03:03 PM
Anonymous Coward
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08/09/2020 02:52 PM
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Re: Attention - here is the scoop on the payroll tax cut
Yeah I save 100$ a week that ill probably still have to pay when I do my taxes. Meanwhile the assholes who don't come back to work get 400 a week. Nice going Trump. Good luck.
 Quoting: Anonymous Coward 77812575


LOL. I'm fairly sure you're not coming at Trump from the political right, but from the political left.

However, if you were a 100% authentic sociopolitical conservative, you'd have some ground to stand on. But I'm fairly sure you tend to have warm, gooey feelings for a variety of lousy, conniving, hypocritical, misery-inducing, mean-hearted liberals. So you're like a Jeff Bezos or George Soros criticizing others for being greedy, cunning, unethical and non-compassionate.

Just be honest about what makes you tick.
Anonymous Coward
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08/09/2020 02:58 PM
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Re: Attention - here is the scoop on the payroll tax cut
Income tax and payroll tax are 2 different things. Everyone, including retirees and those out of work pay income tax either from a paycheck or at the end of year filing. Payroll tax is separate and is what pays retirees Social Security and partially Medicare. What Trump has done is to weaken an already weak Social Security platform, so anyone hoping to retire in the next 40 years better make alternate plans.
 Quoting: Kpduties 74495628


But wait a minute. What I pay in is supposed to fund ME. Not people from 40 yrs ago. So maybe you should think about who robbed SS and put it in the general account and used it to fund things 40 yrs ago. So needed your voice back then when the conservatives warned that the democrats were stealing from SS. SS was supposed to be left alone so that it piled continue to earn interest and not need new people to fund for old people.
 Quoting: CountryWise


Yep. It has turned into Ponzi scheme since Congress has raided the fund the last 50 years for every conceivable social program you can think of.

Most people have no idea of how many programs the social security act funds. There's a plethora of titles and subtitles
Anonymous Coward
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08/09/2020 02:58 PM
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Re: Attention - here is the scoop on the payroll tax cut
It is only being deferred. You WILL have to pay it back next year unless ANOTHER law is passed.
 Quoting: Anonymous Coward 78250329


If they'd organize violent anti-IRS protests, I'd join Antifags.
Anonymous Coward
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08/09/2020 03:01 PM
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Re: Attention - here is the scoop on the payroll tax cut
It is only being deferred. You WILL have to pay it back next year unless ANOTHER law is passed.
 Quoting: Anonymous Coward 78250329


If they'd organize violent anti-IRS protests, I'd join Antifags.
 Quoting: Anonymous Coward 76028023


LOL. The left? They're closer to being Profags.
Anonymous Coward
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08/09/2020 03:02 PM
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Re: Attention - here is the scoop on the payroll tax cut
Look. I support Trump too. But very bold move? C'mon.

Obama took this very bold move too.

It just sounds silly to categorize it that way.

A very bold move would have been all three
 Quoting: Anonymous Coward 79076729


Social security will always survive. It will simply be 20% in the near future. It's the path to socialism. Same with medicare. Will never go away.
 Quoting: Anonymous Coward 79076729
Anonymous Coward
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08/09/2020 03:02 PM
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Re: Attention - here is the scoop on the payroll tax cut

OP,
Correction: The Executive Order is for the 2nd and 3rd items on your list. There is already a number of news articles saying Trump is going to mess up Social Security and Medicare with this EO. People will still have to pay Federal Income tax.

And this does not apply to anyone making over $100k a year.
 Quoting: doglikeRoRuctions


100k?

People who make 100k are rich arrogant pricks mostly who have absolutely no fucking clue that they are.

Lol
 Quoting: Anonymous Coward 78843057


You must be exceptionally poor and probably exceptionally stupid if you think $100K is rich. You really have no idea at all what's going on around you.
 Quoting: Festus Hoggbottom




Lol..

Yeah, most people are out here making 100k+,

You are probably right.

I'm the one who is detached from reality.
[/q]

In the area where I work, if you are making a 100K, you might be able to afford a decent townhome. And if you are really lucky it might have a 1 car garage. You can't afford a new car, unless you are financing for 8 years or something.
acinnc
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08/09/2020 03:03 PM
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Re: Attention - here is the scoop on the payroll tax cut
Pay now or pay later
Anonymous Coward
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08/09/2020 03:04 PM
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Re: Attention - here is the scoop on the payroll tax cut
This plus the eviction freeze are to get Trump to
the Nov finish line. Then WHAMMO!! in 2021 when you
have to settle up with all the "free money" you owe.

.
 Quoting: Anonymous Coward 79245219


The finish line? There's not even anyone running against him so far.
Anonymous Coward
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08/09/2020 03:06 PM
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Re: Attention - here is the scoop on the payroll tax cut
“If I am victorious on November 3rd, I plan to forgive these taxes and make permanent cuts to the payroll tax... I’m going to make them all permanent.”

Oh sure, you can bank on Trump's "if I am elected" promise on that one. First of all, it would take an act of Congress to eliminate Social Security and Medicare. Secondly, do we really believe his promise? How about these promises:


Trump, July 19th: "We're signing a healthcare plan within two weeks, a full and complete healthcare plan. We're going to sign an immigration plan, a healthcare plan, and various other plans. "

Where's that healthcare plan?

Where's that immigration plan?

Where are those "various other plans"?

And we're supposed to believe this whopper. He'll promise whatever you want to hear for your vote, then it just becomes another bait and switch.
 Quoting: Anonymous Coward 77921420

healthcare plan got nixxed by mcstain.
Anonymous Coward
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08/09/2020 03:07 PM
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Re: Attention - here is the scoop on the payroll tax cut
OP,
Correction: The Executive Order is for the 2nd and 3rd items on your list. There is already a number of news articles saying Trump is going to mess up Social Security and Medicare with this EO. People will still have to pay Federal Income tax.

And this does not apply to anyone making over $100k a year.
 Quoting: doglikeRoRuctions


100k?

People who make 100k are rich arrogant pricks mostly who have absolutely no fucking clue that they are.

Lol
 Quoting: Anonymous Coward 78843057


You must be exceptionally poor and probably exceptionally stupid if you think $100K is rich. You really have no idea at all what's going on around you.
 Quoting: Festus Hoggbottom


and he sounds kind of arrogant.
rev18_6

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08/09/2020 03:15 PM
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Re: Attention - here is the scoop on the payroll tax cut
$100,000.00 rich?

Not with this dollar.

Let's see... 100k...that might get a couple and one child through. But you better be smart and budget, because that ain't gonna get you much.

Let's say mom is a teacher and dad is...I don't know...a Librarian...why not.

They pull in 100k.

They need two vehicles.

They have exorbitant taxes.

They have the house bill.

All of junior's school junk that will cost $$$ and trying to put some back for his tuition.

Then there's the 401k.

Mom's wardrobe and teacher training expenses.

Dad's books and seminar travel expenses.

Food.

Electricity.

Welfare for central American illegals.

Yeah, you're not gonna have two dimes to rub together.

And I haven't even gotten to all the incidentals.

Last Edited by rev18_6 on 08/09/2020 03:24 PM
Anonymous Coward
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08/09/2020 03:21 PM
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Re: Attention - here is the scoop on the payroll tax cut
These re-distributive bread crumbs that are allegedly being debated over wouldn’t be necessary if tptb would get out of the way, stop the fear porn, and let people back to work. If you study the first “relief” package in detail and the distributions of it, you’ll find for every dime the unemployed get, the rich get a dollar. It will be the same for the second one.

I’m not saying that people aren’t struggling financially from all of this, but there are already both social security and unemployment schemes for this. They have been funded by workers and employers for generations now that are supposed to be sacrosanct, but the Treasury constantly pilfers these funds resulting in ever increasing retirement ages and lower payments to the needy.

I don’t have the answers to what to do, because I don’t see there being anywhere near enough of a critical mass of people to take control of their lives back. If anything, it seems they’re going the wrong direction. These “stimulus” packages feed into the dependency mind set as well, making tptb appear to benevolently keep a roof over your head and food on the table while secretly picking your pocket at the same time.
Phoenix Light

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08/09/2020 03:24 PM

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Re: Attention - here is the scoop on the payroll tax cut
Guys, something big is coming in September and it will be very, very positive for all of America. Watch the Wall Street Journal early September.
Phoenix Light





GLP