Attention - here is the scoop on the payroll tax cut | |
rev18_6
User ID: 12309411 United States 08/09/2020 02:29 PM Report Abusive Post Report Copyright Violation | If this is what despotism looks like, I'm on board. Let's roll. Last Edited by rev18_6 on 08/09/2020 02:41 PM |
Anonymous Coward User ID: 78411938 Canada 08/09/2020 02:31 PM Report Abusive Post Report Copyright Violation | 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. Quoting: Anonymous Coward 77921420 Think long and hard on that before you cast your vote. 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 User ID: 78411938 Canada 08/09/2020 02:33 PM Report Abusive Post Report Copyright Violation | 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). Quoting: Texas Dave 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. "I’m referring to the ones living off $1,400 a month in SS like some of my relatives." There's also Medicare. What happens to an 80 year old when that goes away? Buy health insurance? |
Anonymous Coward User ID: 79076729 08/09/2020 02:33 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 79076729 08/09/2020 02:36 PM Report Abusive Post Report Copyright Violation | 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! 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 User ID: 77963055 United States 08/09/2020 02:38 PM Report Abusive Post Report Copyright Violation | “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.” Quoting: Anonymous Coward 77921420 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. 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
User ID: 28178764 United States 08/09/2020 02:39 PM Report Abusive Post Report Copyright Violation | 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
User ID: 75058539 United States 08/09/2020 02:39 PM Report Abusive Post Report Copyright Violation | OP, Quoting: doglikeRoRuctions 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. 100k? People who make 100k are rich arrogant pricks mostly who have absolutely no fucking clue that they are. Lol Go flip more burgers, 100k isn’t rich...wtf people are getting dumber and dumber |
embu User ID: 76993552 United States 08/09/2020 02:42 PM Report Abusive Post Report Copyright Violation | 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. actually roosevelt knew it wouldnt work, ie:vote buying scheme. johnson replaced the fund with IOU's for his war on poverty. |
darth
User ID: 28178764 United States 08/09/2020 02:43 PM Report Abusive Post Report Copyright Violation | 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. Quoting: Anonymous Coward 77921420 Think long and hard on that before you cast your vote. 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. 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 User ID: 77963055 United States 08/09/2020 02:43 PM Report Abusive Post Report Copyright Violation | 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). Quoting: Texas Dave 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. "I’m referring to the ones living off $1,400 a month in SS like some of my relatives." There's also Medicare. What happens to an 80 year old when that goes away? Buy health insurance? 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 User ID: 78030312 United States 08/09/2020 02:47 PM Report Abusive Post Report Copyright Violation | “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.” Quoting: Anonymous Coward 77921420 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. 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. 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 User ID: 69693440 United States 08/09/2020 02:47 PM Report Abusive Post Report Copyright Violation | […] Quoting: darth 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. Cities counties and sheriff and troopers made all that illegal. Un employees disallowing food and arms. |
Achduke7
User ID: 78023456 United States 08/09/2020 02:47 PM Report Abusive Post Report Copyright Violation | |
Terrebonne
User ID: 79234566 United States 08/09/2020 02:50 PM Report Abusive Post Report Copyright Violation | Is it eliminated or deferred? Quoting: Anonymous Coward 79245219 You realize most of what they are doing is forcing people into more debt, since they won't borrow voluntarily anymore. . It is a payroll tax holiday, meaning you will not have to pay it back. ^^^ THIS . INFJ; We are the protectors. |
Kpduties User ID: 75530758 United States 08/09/2020 02:51 PM Report Abusive Post Report Copyright Violation | 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
User ID: 78896278 United States 08/09/2020 02:51 PM Report Abusive Post Report Copyright Violation | 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). Quoting: Texas Dave 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. "I’m referring to the ones living off $1,400 a month in SS like some of my relatives." There's also Medicare. What happens to an 80 year old when that goes away? Buy health insurance? 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 $200,000/year in membership dues are concerned about this? Did that same 80 year old socialist consider the world his great grandchildren would live in? A world where he had carped off the system in his time and by the time his progeny came to retirement they would live in a 3rd world socialist hellhole? If not, why should I care about what that 80 year old thinks? Did the 80 year old care about my future? Did he even consider it? There's no fool like an old fool. If that seems indelicate me of me, my question is how sensitive and visionary were the war generation and Baby B**mers to keep up this sham all these years when there's going to be nothing in it for me. The shortest straw was pulled for my generation by their generation. Did you think we were as stupid as the public schools you funded tried to make us? Last Edited by rev18_6 on 08/09/2020 03:03 PM |
Anonymous Coward User ID: 76035982 United States 08/09/2020 02:52 PM Report Abusive Post Report Copyright Violation | Yeah I save 100$ 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 User ID: 78958478 United States 08/09/2020 02:58 PM Report Abusive Post Report Copyright Violation | 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. 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 User ID: 76028023 United States 08/09/2020 02:58 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 76035982 United States 08/09/2020 03:01 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 79076729 08/09/2020 03:02 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 73643433 United States 08/09/2020 03:02 PM Report Abusive Post Report Copyright Violation | OP, Quoting: doglikeRoRuctions 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. 100k? People who make 100k are rich arrogant pricks mostly who have absolutely no fucking clue that they are. Lol 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. 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 User ID: 79192717 United States 08/09/2020 03:03 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 77848444 United States 08/09/2020 03:04 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 24494291 United States 08/09/2020 03:06 PM Report Abusive Post Report Copyright Violation | “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.” Quoting: Anonymous Coward 77921420 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. healthcare plan got nixxed by mcstain. |
Anonymous Coward User ID: 24494291 United States 08/09/2020 03:07 PM Report Abusive Post Report Copyright Violation | OP, Quoting: doglikeRoRuctions 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. 100k? People who make 100k are rich arrogant pricks mostly who have absolutely no fucking clue that they are. Lol 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. and he sounds kind of arrogant. |
rev18_6
User ID: 78896278 United States 08/09/2020 03:15 PM Report Abusive Post Report Copyright Violation | $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 User ID: 63927796 United States 08/09/2020 03:21 PM Report Abusive Post Report Copyright Violation | 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
User ID: 71271182 United States 08/09/2020 03:24 PM Report Abusive Post Report Copyright Violation | |