Results 1 to 14 of 14

Thread: Trump mulls permanent 0% payroll tax rate

  1. #1

    Thumbs up Trump mulls permanent 0% payroll tax rate

    President Trump, to offset economic fallout from the fast-spreading coronavirus, has proposed slashing the payroll tax rate for employees and employers to 0 percent -- a change that he wants to make permanent, White House sources told Fox News.
    Trump pitched temporarily eliminating the payroll tax rate during a lunch with Senate Republicans on Tuesday to insulate the economy from the coronavirus, which causes a disease called COVID-19. The virus has caused volatility in the stock markets and forced the Federal Reserve to make an emergency rate cut, the first time the U.S. central bank has done so since the financial crisis.
    There has been consideration of eliminating it for three months, through the fall, through the calendar year or permanently, sources said.
    Currently, all employees and employers pay a 6.2 percent payroll tax on wages capped out at $137,700. Right now, an employee earning $50,000 per year would pay $3,100 in payroll taxes. That money goes toward specific programs like Social Security, health care, unemployment compensation and workers’ compensation. Workers also pay a Medicare tax of 1.45 percent.


    Workers who earn more than $200,000 individually, or $250,000 if they are married and filing jointly, pay an additional 0.9 percent Medicare tax.
    Individuals who work for themselves pay 12.4 percent toward Social Security and 2.9 percent for Medicare.

    More at: https://finance.yahoo.com/news/trump...163800540.html
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment



  2. Remove this section of ads by registering.
  3. #2
    Do it !!!!!!!

  4. #3
    Quote Originally Posted by oyarde View Post
    Do it !!!!!!!
    Sounds good to me.

  5. #4
    Quote Originally Posted by oyarde View Post
    Do it !!!!!!!
    I'm self-employed. If he does this, I'll vote for him.

  6. #5
    Quote Originally Posted by otherone View Post
    I'm self-employed. If he does this, I'll vote for him.
    His previous tax cut already had a HUGE benefit for the self-employed, should be reason enough. just saying...

  7. #6
    AWESOME! Next eliminate the Income Tax!
    When life itself seems lunatic, who knows where madness lies? - Miguel de Cervantes, (Don Quixote)

    Quote Originally Posted by Voluntarist View Post
    The tree of liberty must be refreshed from time to time with the Federal Reserve Notes of patriotic central banks

  8. #7
    Sounds like a pretty great idea.
    "Perhaps one of the most important accomplishments of my administration is minding my own business."

    Calvin Coolidge

  9. #8
    hey!

    are we about to fkn WIN?

    why I should worship the state (who apparently is the only party that can possess guns without question).
    The state's only purpose is to kill and control. Why do you worship it? - Sola_Fide

    Baptiste said.
    At which point will Americans realize that creating an unaccountable institution that is able to pass its liability on to tax-payers is immoral and attracts sociopaths?



  10. Remove this section of ads by registering.
  11. #9
    'I prefer someone who burns the flag and then wraps themselves up in the Constitution over someone who burns the Constitution and then wraps themselves up in the flag.'--Molly Ivins

    'Well, you can get no more liberty than you give.'--Will Rogers

  12. #10
    Have to say, he's one of the best 'Mullers' in entire history.

    Small gov purists may frown upon idea of free money for hourly workers relief and Cruise industry/Wall Street banks bailouts though.

    Trump Is a No-Show After Promising Briefing on Economic Plan


    By Justin Sink and Ryan Beene
    March 10, 2020
    President Donald Trump didn’t appear at a White House briefing on the coronavirus outbreak on Tuesday, after promising a day earlier he’d hold a news conference to announce a “major” economic stimulus package.
    After deciding to pursue an economic stimulus plan following the steepest drop by the benchmark S&P 500 index since 2011, Trump told reporters at a briefing on Monday: “I will be here tomorrow afternoon to let you know about some of the economic steps we’re taking, which will be major,” he said.

    White House plan for economic response to coronavirus is ‘not there right now,’ officials say
    Published Tue, Mar 10 2020
    Key Points


    • The White House is far from ready to roll out specific economic proposals in its response to the widening impact of the coronavirus outbreak, administration officials said.
    • The revelation comes as U.S. stock futures pointed toward a rebound following President Trump’s suggestion that a payroll tax cut and other stimulus measures may be in the works.
    • However, inside the administration, some officials were stunned by Trump’s claim that he would hold a press conference Tuesday to announce an economic plan as the actual details remain up in the air.




    That is is why it's puzzling why fakenews NYT published reports like this today just cuz markets down couple of thousand pointas after MAGA speech yesterday.



    Trump’s Re-election Chances Suddenly Look Shakier
    Weeks ago, his advisers were counting on a strong economy and a Democratic opponent easily portrayed as too far left. But the political landscape has sharply ...
    The New York Times
    1 hour ago



    Unfortunately Dems probably won't cooperate for any major MAGA pie-in-the-sky mulling $Trillion stimulus plans looking at how speaker Pelosi ripped his SOTU speech and Biden's very anti-MAGA attitude of late.



    Quote Originally Posted by Swordsmyth View Post
    Since he frequently contradicts himself his statements can't be trusted at all, you have to watch his actions to even guess about his positions or plans.
    Ok.

  13. #11
    Top stories






    Trump’s Payroll Tax Cut Would Dwarf the 2008 Bank Bailout

    The New York Times·6 hours ago









    Payroll tax holiday is the wrong economic response to coronavirus

    Los Angeles Times·5 hours ago






    Because payroll taxes are paid only on income up to the wage base limit, a payroll tax cut also disproportionally benefits low and middle income workers who are taxed on their entire salaries instead of only on part of their income.

    https://finance.yahoo.com/news/payro...115132927.html
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc
    "You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
    "When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q

    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  14. #12
    Quote Originally Posted by enhanced_deficit View Post
    Have to say, he's one of the best 'Mullers' in entire history.

    Small gov purists may frown upon idea of free money for hourly workers relief and Cruise industry/Wall Street banks bailouts though.

    Trump Is a No-Show After Promising Briefing on Economic Plan


    By Justin Sink and Ryan Beene
    March 10, 2020
    President Donald Trump didn’t appear at a White House briefing on the coronavirus outbreak on Tuesday, after promising a day earlier he’d hold a news conference to announce a “major” economic stimulus package.
    After deciding to pursue an economic stimulus plan following the steepest drop by the benchmark S&P 500 index since 2011, Trump told reporters at a briefing on Monday: “I will be here tomorrow afternoon to let you know about some of the economic steps we’re taking, which will be major,” he said.

    White House plan for economic response to coronavirus is ‘not there right now,’ officials say
    Published Tue, Mar 10 2020
    Key Points


    • The White House is far from ready to roll out specific economic proposals in its response to the widening impact of the coronavirus outbreak, administration officials said.
    • The revelation comes as U.S. stock futures pointed toward a rebound following President Trump’s suggestion that a payroll tax cut and other stimulus measures may be in the works.
    • However, inside the administration, some officials were stunned by Trump’s claim that he would hold a press conference Tuesday to announce an economic plan as the actual details remain up in the air.




    That is is why it's puzzling why fakenews NYT published reports like this today just cuz markets down couple of thousand pointas after MAGA speech yesterday.



    Trump’s Re-election Chances Suddenly Look Shakier
    Weeks ago, his advisers were counting on a strong economy and a Democratic opponent easily portrayed as too far left. But the political landscape has sharply ...
    The New York Times
    1 hour ago



    Unfortunately Dems probably won't cooperate for any major MAGA pie-in-the-sky mulling $Trillion stimulus plans looking at how speaker Pelosi ripped his SOTU speech and Biden's very anti-MAGA attitude of late.





    Ok.

    Back to your old ways I see.

    Troll on.
    @Ehanced_Deficit's real agenda on RPF :
    DNCIA-SB (Soros, Brennan)
    CLINTON-PELO-SCHIFF
    NYT-CNN-SOCIALIST

  15. #13
    Psych!
    Chris

    "Government ... does not exist of necessity, but rather by virtue of a tragic, almost comical combination of klutzy, opportunistic terrorism against sitting ducks whom it pretends to shelter, plus our childish phobia of responsibility, praying to be exempted from the hard reality of life on life's terms." Wolf DeVoon

    "...Make America Great Again. I'm interested in making American FREE again. Then the greatness will come automatically."Ron Paul

  16. #14
    Quote Originally Posted by otherone View Post
    I'm self-employed. If he does this, I'll vote for him.
    I am voting for me but if I was not voting for me I would vote for him for pulling troops out of Afghanistan , tax and regulation cuts and this .



Similar Threads

  1. Replies: 34
    Last Post: 08-23-2019, 07:18 PM
  2. Team Trump eyes payroll tax cut to spur economy: report
    By donnay in forum U.S. Political News
    Replies: 61
    Last Post: 08-21-2019, 06:38 PM
  3. Flake, in New Hampshire, mulls 2020 challenge to Trump
    By Swordsmyth in forum U.S. Political News
    Replies: 15
    Last Post: 03-16-2018, 11:45 PM
  4. Replies: 26
    Last Post: 01-26-2017, 07:21 PM
  5. *FED Mulls Rate Cut*
    By Pauls' Revere in forum Economy & Markets
    Replies: 8
    Last Post: 12-14-2008, 10:40 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •