Larry Kudlow says the payroll tax deferral will give employed Americans 'a gigantic wage increase' Is he drunk again?

They may get their $3.50 but they are right...the man was completely incoherent on the talk shows yesterday....It's not good for the administration when he speaks....he's either an idiot or a complete drunk or both.

Last Edited by FeedYourHead on 08/10/2020 04:30 PM

You sound like an insane gambler. Get help.

I am a BIG believer in that statement. Or at least buy something that will save or make you money...or that you can use to survive/make or save $$ if you lose your job or SHTF in some other way.

You should see how much crap I threw out and gave away. Now my home is streamlined. It's clean and awesome and I have what I need, and backups of important items because I have the space to organize it.

Fucking embarrassing. If the language is "deferral" than it is NOT forgiven and is still owed. Same thing that happened with rent deferrals. When the deferral period ended, people were expected to pay all back rent due at once. Like how the fuck are the supposed to do that? Trump is actively losing the election with this bullshit. I'm still voting for him, but he is royally fucking this up. I've never seen someone so politically savvy that could do what he did for the first 3 years and then turn around and be so fucking retarded for the last year leading into an election.

He needs to get rid of all the trickle down assholes. Kudlow and Laffer especially.

Yeap screw all those crooks especially Trump. He is taking money from me $200 to $300 a week for no reason. He lost my vote forever. Id rather see the socialist in power to this SOB stealing money from me.

Trump hired them. Remember "only the best people"?

This is a great thing for america. What has a democrat done lately that has benefited this country.???? NADA, ZERO, they are traitors

You mean like this, from yesterday?



Donald Trump’s top economic adviser seemed to have a difficult time explaining the specific details behind the president’s latest executive orders, which were aimed at providing coronavirus relief measures after negotiations stalled in Washington.

The executive orders would cut additional government unemployment benefits provided during the pandemic from $600 to $400, and offer a payroll tax holiday for millions of Americans, which Mr Trump said he would make permanent if reelected in November.

But none of that was entirely clear when Larry Kudlow, the White House’s director of the National Economic Council, spoke to CNN’s Dana Bash on Sunday morning.

Mr Kudlow asserted the president’s orders on unemployment benefits would actually provide $800 to Americans who lost work due to the pandemic — even though Mr Trump’s measures would offer just half of that amount.

He went on to claim Americans would receive as much as $1,200 under the new measures when asked when the first relief checks would be received, saying: “I don’t want to be as specific as you might hold me to it, as you should, but I think it’s going to be in a couple of weeks, and I think it’s going to come to about $1,200 per person — that’s a huge wage increase.”

The economic adviser’s answer did not provide a specific timeline, or include the fact that the federal government will only pay $400 while requiring states to pay 25 percent. Moreover, it is not possible for someone on unemployment benefits to earn a “wage increase” as they are not working and have no wages to begin with.

“You keep saying $1,200 per person, are you talking about in addition to the unemployment that they’re already getting?” Ms Bash asked Mr Kudlow.

“No wait, that’s the payroll — no, I’m sorry, I beg your pardon, the $1,200 will come from the payroll tax deferral, on top of this — yeah, I’m sorry,” Mr Kudlow responded.

He then once again asserted that unemployment benefits would amount to “$800 bucks,” leaving the anchor appearing confused.

“$800 or $400?” she asked.

“No, it should be four, umm — it should be $800,” Mr Kudlow said. “If the states step up, we’re prepared to match, that should come out $400 federal, $400 states.”

Ms Bash then moved on from the issue, telling Mr Kudlow: “Okay, we’ll move on because I think this is not what the president said and it’s a bit confusing, and I think the fact that it’s not entirely known is very telling.”


Thread: Larry Kudlow is drunk again! Says Americans will get a $1200 relief check "in a couple of weeks". No wait - $800. Or is it $400?

It's running up a virtual credit card.

Theyre all suffering from the rapture of the deep.

oh its real and its deadly but what else is real is a cure...the hoax is the denial of the cure

gigantic wage increase

wheelbarrows of money

loaf of bread goes up to truckloads.

Only a libtard would complain about getting to keep more of his own money

libtards

Why you are a chip off the 'ole chip!

ive seen news outlets refer to it as a tax holiday. my local news correctly called it a deferment. people need to curb their spending.

I do wish they'd issue a statement making it clear whether or not you will have to pay it back. My understanding is it is at least a possibility. Read numerous articles on it, still unclear.

It's a deferral. You have to pay it back. Trump's memorandum only says:

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 Trump's promise is that he will ask Steve Mnuchin to "explore" ways to forgive the loan that they are giving you.

All I can say is, you better stash away a little savings to pay that loan back in your 2020 tax filing in April. But of course, once that hard reality hits you, the election will be over.

Do you work in the corporate world? A 7.65% raise is probably double the average increase. I worked for one company with record profits year after year and they'd do a 3.5% increase every OTHER year, so yeah, 7.65% in one shot is pretty damn good.

What makes you think you will be able to keep those deferred payroll taxes?

It's not a raise. It's a 7.65% interest free loan that you will have to pay back.

Because Trump will win in November!

No different then a stimulus they just forgive the tax and then loan money to social security to make up the difference rather then sending out 180,000,000 checks

Taxes are a joke. They pay for themselves if you work it, and these are no different. Withholdings are an interest free loan to the gub'mint. Fuck the gub'mint.

Cut withholdings and invest 30% of your check(indexes are super easy) and let it grow over the rest of the year. Taxes are covered with a little profit to roll over on top. Bonus points: if you should happen to take a loss, it writes off and lowers the taxes you owe. I've done this for over 10 years and never took a loss on the year.

This should be standard practice for anyone on a 1099 for sure, but you can do it with a W2 as well.

There’s next to no chance either party in congress will make people pay that back because most Americans dont save and that would just put most Americans in debt and it would be a huge burden on companies because they have to match that 7% for all their employees amounting to bills for $50,000-$100,000 for small businesses if they were told they now needed to pay it

Nobody wants to get that letter

You got me, Stalwart.

I was curious as to how you loathesome Liberal half-wits would spin this as negative. Now I know.

Drumphstein, you mean

So how is Trumpstein going to pay the governments debt to social security recipients?