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Thread: Trump signs EO extending payroll tax deferment until end of of 2020

  1. #1

    Exclamation Trump signs EO extending payroll tax deferment until end of of 2020

    Donald Trump to Suspend Payroll Tax Until End of 2020

    https://www.breitbart.com/politics/2...l-end-of-2020/

    Charlie Spiering 7 Aug 2020

    President Trump said Friday he would defer the payroll tax until the end of the year, using an executive order.

    The tax would continue to be deferred until the end of 2020, the president said, and would likely be retroactive from July 1.

    He said that by the end of 2020 the payroll tax break could be extended.

    “Hopefully I’ll be here to do the job,” Trump said, hinting at the results of Election Day.

    The president also said he would extend unemployment benefits, defer student loan payments and interest, and extend the eviction moratorium as well as an order requiring health insurance companies to cover pre-existing conditions.

    “If Democrats continue to hold this critical relief hostage, I will act under my authority as president to get Americans the relief they need,” he said.

    The president said that the lawyers were drawing up the executive orders and that they could be signed by the end of the week.

    Asked whether he was concerned about the legality of his executive order, Trump replied, “No, not at all. You always get sued, everything you do you get sued … we’ll see.”

    The president also declined to specify whether or not he would extend federal unemployment benefit checks at the full $600 a week.

    But Trump said he was determined to help Americans still struggling with the virus and the cost of the economic shutdowns despite unprecedented obstruction from Congressional Democrats.

    “Tragically Nancy Pelosi and Chuck Schumer continue to insist on radical leftwing policies that have nothing to do with the China virus,” Trump said.

    Pelosi and Schumer are demanding a $2.5 trillion package that White House Chief of Staff Mark Meadows described as a “blank check.”

    Meadows and Treasury Secretary Steven Mnuchin continued negotiations with Democrats throughout the week but ended Friday recommending that Trump act unilaterally.

    “The Chief and I will recommend to the President, based upon our lack of activity today, that he move forward with some executive orders,” Mnuchin said to reporters on Capitol Hill before leaving for the evening.

    The enhanced federal unemployment checks of $600 a week ran out on Friday.
    Another mark of a tyrant is that he likes foreigners better than citizens, and lives with them and invites them to his table; for the one are enemies, but the Others enter into no rivalry with him. - Aristotle's Politics Book 5 Part 11



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  3. #2
    As of 4:43pm Saturday 8/8 he's still flapping his lips and hasn't yet signed his highly unconstitutional executive order.
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book

  4. #3
    Hes been trying to get traction on killing the payroll tax since t3h corona began. This would be huge, once the paytroll tax is killed temporarily, people would be pissed if it came back, setting up some good potential outcomes here.

    This is exactly what the left gets for supporting Obama's DACA in SCOTUS.
    THE SQUAD of RPF
    1. enhanced_deficit - Paid Troll / John Bolton book promoter
    2. Devil21 - LARPing Wizard, fake magical script reader
    3. Firestarter - Tax Troll; anti-tax = "criminal behavior"
    4. TheCount - Comet Pizza Pedo Denier <-- sick

    @Ehanced_Deficit's real agenda on RPF =troll:

    Who spends this much time copy/pasting the same recycled links, photos/talking points.

    7 yrs/25k posts later RPF'ers still respond to this troll

  5. #4
    Quote Originally Posted by eleganz View Post
    Hes been trying to get traction on killing the payroll tax since t3h corona began. This would be huge, once the paytroll tax is killed temporarily, people would be pissed if it came back, setting up some good potential outcomes here.

    This is exactly what the left gets for supporting Obama's DACA in SCOTUS.
    Yeah we'll show em just how much we can use a phone and a pen to get around Congress waaaay better than Obama ever did! Go TEAM! Scripted bull$#@! while Republicans sit on their asses collecting checks bigger than any welfare queen ever received.
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book

  6. #5
    Quote Originally Posted by devil21 View Post
    Yeah we'll show em just how much we can use a phone and a pen to get around Congress waaaay better than Obama ever did! Go TEAM! Scripted bull$#@! while Republicans sit on their asses collecting checks bigger than any welfare queen ever received.
    It is limited to those who make less than $100k/year
    "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."

  7. #6
    Quote Originally Posted by devil21 View Post
    Yeah we'll show em just how much we can use a phone and a pen to get around Congress waaaay better than Obama ever did! Go TEAM! Scripted bull$#@! while Republicans sit on their asses collecting checks bigger than any welfare queen ever received.
    Oh god more with the script, you just look crazy always citing from a magic document that only you can see. Your script certainly didn't have payroll tax cuts on them, did they...

    Payroll tax cuts are a good thing, the left gave Trump these powers. Maybe you can go scream in the sky like they do?
    THE SQUAD of RPF
    1. enhanced_deficit - Paid Troll / John Bolton book promoter
    2. Devil21 - LARPing Wizard, fake magical script reader
    3. Firestarter - Tax Troll; anti-tax = "criminal behavior"
    4. TheCount - Comet Pizza Pedo Denier <-- sick

    @Ehanced_Deficit's real agenda on RPF =troll:

    Who spends this much time copy/pasting the same recycled links, photos/talking points.

    7 yrs/25k posts later RPF'ers still respond to this troll

  8. #7
    Bye Bye taxes .LOL

  9. #8
    Quote Originally Posted by eleganz View Post
    Oh god more with the script, you just look crazy always citing from a magic document that only you can see. Your script certainly didn't have payroll tax cuts on them, did they...

    Payroll tax cuts are a good thing, the left gave Trump these powers. Maybe you can go scream in the sky like they do?
    Yet another Trumpkin that can't stop lying and can't bother to read the actual EOs. The EO DEFERS tax collection, it does not cut taxes. STOP SPOUTING OFF UNVERIFIED BULL$#@!
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book



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  11. #9
    Quote Originally Posted by eleganz View Post
    Oh god more with the script, you just look crazy always citing from a magic document that only you can see. Your script certainly didn't have payroll tax cuts on them, did they...

    Payroll tax cuts are a good thing, the left gave Trump these powers. Maybe you can go scream in the sky like they do?
    Devil wants Trump to enforce unconstitutional laws, that's all you need to know about devil.
    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

  12. #10
    Ya well for me any deferment is a tax avoided because when I get done with my taxes I wont owe it @Danke

  13. #11
    Quote Originally Posted by Swordsmyth View Post
    Devil wants Trump to enforce unconstitutional laws, that's all you need to know about devil.
    Blah blah. What are you talking about Alinsky LARPer? A tax deferral is not a tax cut. If Trump (his communist CFR handlers, actually) was actually doing what you claim, the EO would direct the Treasury to disregard Title 26, not direct them to FOLLOW it.
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book

  14. #12
    The Trump administration on Friday allowed employers to suspend collection of some Social Security taxes, although business groups don't like the idea and it may create political headaches for Republicans. Democrats are already saying it would undermine retirement benefits.

    The Treasury Department guidance came late in the day, less than 24 hours after the conclusion of the Republican National Convention and a speech by President Donald Trump in which he promised to protect Social Security and Medicare.

    It allows employers to offer their workers a temporary deferral of the 6.2% payroll tax employees pay into the Social Security Trust Fund for the rest of this year. The taxes owed would not be forgiven, and instead would come due in 2021.

    It's unclear how many employers will take the option, since implementing it would involve additional effort and expenses on their part.

    “The guidance allows employers to defer withholding and paying the employee’s portion of the Social Security payroll tax if the employee’s wages are below a certain amount,” Treasury said in a terse press release. The earnings cutoff is $104,000 a year.

    Trump has also teased that if he’s reelected he would press for a permanent cut in Social Security taxes. Although the president argues it will help revive an economy battered by the coronavirus, many economists disagree.

    “At the end of the year, the assumption that I win, I’m going to terminate the payroll tax, which is another thing that some of the great economists would like to see done,” Trump told reporters earlier this month, adding that “tremendous growth” in the U.S. will cover the costs of Social Security. “We’ll be paying into Social Security through the general fund.”

    White House aides insist that Trump is only referring to permanently forgiving the taxes that would be deferred this year, but the president himself has repeatedly indicated he has much bigger ideas in mind.

    While the president has the authority to defer collection of the tax in a national emergency, only Congress can forgive the amounts owed. Trump directed Mnuchin to work with lawmakers to secure that goal. Administration officials say any legislation would repay the Social Security Trust Fund as well.

    More at: https://www.foxbusiness.com/politics/trump-adm-tax
    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

  15. #13
    //
    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

  16. #14
    Democrats are already saying it would undermine retirement benefits.
    Lol. Like the Democrats have been shoring it up?

  17. #15
    From what I've seen, few, if any, businesses are going to honor this voluntary tax deferral option. The liabilities and complications for businesses are just too high.

    https://www.cnbc.com/2020/08/28/irs-...for-taxes.html

    The IRS issued long-awaited guidance on President Donald Trump’s payroll tax deferral Friday night. And it appears to put the onus on employers to collect any taxes due after the holiday ends.
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book

  18. #16
    Tyrant!
    "I shall bring justice to Westeros. Every man shall reap what he has sown, from the highest lord to the lowest gutter rat. They have made my kingdom bleed, and I do not forget that."
    -Stannis Baratheon



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  20. #17
    Per registered decision, member has been banned for violating community standards as interpreted by TheTexan (respect his authoritah) as authorized by Brian4Liberty Ruling

    May God have mercy on his atheist, police-hating, non-voting, anarchist soul.
    Last edited by Voluntarist; 09-21-2020 at 07:24 PM.
    You have the right to remain silent. Anything you post to the internet can and will be used to humiliate you.

  21. #18
    Quote Originally Posted by Voluntarist View Post
    Wrong verb.

    Defer
    verb
    put off (an action or event) to a later time; postpone.

    They're not talking about deferring FICA payments currently assessed to individuals until they can be paid later, when they'll collect what is scheduled to be paid now (on top of what they have to pay later). No, they plan on "suspending" the current payments for some period of time - and never collecting those payments.
    What precisely are you basing that on? The EO itself uses the term "defer". The statutory authority in the EO for SecTreas uses the term "postpone." The IRS clearly thinks the deferred taxes will be collected later unless Congress acts since they put out guidelines for employers.
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book

  22. #19
    Per registered decision, member has been banned for violating community standards as interpreted by TheTexan (respect his authoritah) as authorized by Brian4Liberty Ruling

    May God have mercy on his atheist, police-hating, non-voting, anarchist soul.
    Last edited by Voluntarist; 09-21-2020 at 07:24 PM.
    You have the right to remain silent. Anything you post to the internet can and will be used to humiliate you.

  23. #20
    Would @Danke like to donate to my soocial security?

  24. #21
    Quote Originally Posted by Swordsmyth View Post
    The Treasury Department guidance came late in the day, less than 24 hours after the conclusion of the Republican National Convention and a speech by President Donald Trump in which he promised to protect Social Security and Medicare.

    Trump has also teased that if he’s reelected he would press for a permanent cut in Social Security taxes. Although the president argues it will help revive an economy battered by the coronavirus, many economists disagree.
    Yeah, the way to save SS and Medicare is to eliminate their funding. Rex Tillerson was right -- Trump really is a moron.
    We have long had death and taxes as the two standards of inevitability. But there are those who believe that death is the preferable of the two. "At least," as one man said, "there's one advantage about death; it doesn't get worse every time Congress meets."
    Erwin N. Griswold

    Taxes: Of life's two certainties, the only one for which you can get an automatic extension.
    Anonymous

  25. #22
    Quote Originally Posted by Sonny Tufts View Post
    Yeah, the way to save SS and Medicare is to eliminate their funding. Rex Tillerson was right -- Trump really is a moron.
    If you want to save them they'll have to be funded differently than they currently are by payroll tax going into general fund and spent in ten days. I consider it very forward thinking . Current system is failure .

  26. #23
    Quote Originally Posted by oyarde View Post
    If you want to save them they'll have to be funded differently than they currently are by payroll tax going into general fund and spent in ten days. I consider it very forward thinking . Current system is failure .
    Payroll taxes account for about 35-36% of federal revenue, and SS/Medicare accounts for about the same percentage of expenditures. If payroll taxes were eliminated, do you really think it'd be possible to reallocate that big of a chunk of revenue out of the remaining 64-65% without raising income taxes or creating a gigantic increase in the deficit?
    We have long had death and taxes as the two standards of inevitability. But there are those who believe that death is the preferable of the two. "At least," as one man said, "there's one advantage about death; it doesn't get worse every time Congress meets."
    Erwin N. Griswold

    Taxes: Of life's two certainties, the only one for which you can get an automatic extension.
    Anonymous

  27. #24
    Quote Originally Posted by Sonny Tufts View Post
    Payroll taxes account for about 35-36% of federal revenue, and SS/Medicare accounts for about the same percentage of expenditures. If payroll taxes were eliminated, do you really think it'd be possible to reallocate that big of a chunk of revenue out of the remaining 64-65% without raising income taxes or creating a gigantic increase in the deficit?

    Sonny Tufts: another radical and disgusting leftist who loves gigantic increases in spending.
    Quote Originally Posted by TheCount View Post
    ...I believe that when the government is capable of doing a thing, it will.
    Quote Originally Posted by Influenza View Post
    which one of yall fuckers wrote the "ron paul" racist news letters
    Quote Originally Posted by Dforkus View Post
    Zippy's posts are a great contribution.




    Disrupt, Deny, Deflate. Read the RPF trolls' playbook here (post #3): http://www.ronpaulforums.com/showthr...eptive-members



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  29. #25
    Per registered decision, member has been banned for violating community standards as interpreted by TheTexan (respect his authoritah) as authorized by Brian4Liberty Ruling

    May God have mercy on his atheist, police-hating, non-voting, anarchist soul.
    Last edited by Voluntarist; 09-21-2020 at 07:26 PM.
    You have the right to remain silent. Anything you post to the internet can and will be used to humiliate you.

  30. #26
    Quote Originally Posted by Voluntarist View Post
    Yep, you're correct. Per Yahoo!Finance:


    I can't help but wonder how this is going to go over with the voters once they realize their paychecks next year will be smaller. I also wonder what happens if a workers is laid off or retires before "the first four months of next year" when the FICA taxes come due. Will the IRS come after them to repay what they "postponed"? And how about the people who get raises at the end o fthe year? Are they going to end up paying more than they would have if they had simply paid the taxes now? Of course, that all comes after the election - so many won't notice until then, unless the Democrats make a campaign issue out of it.
    Trump will just continue to defer them until Congress cancels them.
    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

  31. #27
    Quote Originally Posted by Voluntarist View Post
    Yep, you're correct. Per Yahoo!Finance:


    I can't help but wonder how this is going to go over with the voters once they realize their paychecks next year will be smaller. I also wonder what happens if a workers is laid off or retires before "the first four months of next year" when the FICA taxes come due. Will the IRS come after them to repay what they "postponed"? And how about the people who get raises at the end o fthe year? Are they going to end up paying more than they would have if they had simply paid the taxes now? Of course, that all comes after the election - so many won't notice until then, unless the Democrats make a campaign issue out of it.
    If it's any indication, my SO is a CFO and they are not acting on it at all, just continuing with usual withholding and remitting of employee's payroll taxes. There's too many complications (especially if layoffs take place over the next couple months...likely) to risk the organization being stuck with every employee's portion, on top of already having deferred the employer's portion since CARES was passed. Orgs that act on this EO are setting themselves up for a nasty expense later on that they may not have the cash flow to absorb the hit and carry on, especially small businesses that have financial people that are more "bookkeepers" than CFO types. All of this has introduced a substantial level of accounting complication that smaller businesses are not prepared for.

    (there are no free lunches from .gov. ever. learn it, love it, live it.)
    Last edited by devil21; 08-31-2020 at 11:49 PM.
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book

  32. #28
    Quote Originally Posted by NorthCarolinaLiberty View Post
    Sonny Tufts: another radical and disgusting leftist who loves gigantic increases in spending.
    North Carolina Liberty: a knee-jerk right-winger who is under the delusion that keeping SS/Medicare at current levels while cutting their funding equates to gigantic increases in spending.

    I'll explain it so even someone of limited understanding like you can get it: Trump says he wants to save SS/Medicare, expand the nation's military strength, and increase spending on infrastructure, space exploration, veterans' benefits, local police, a national wireless network, and cleaning up the oceans. He also wants to eliminate the payroll tax and cut income taxes. The obvious problem is that all of these these things cannot be done without a huge increase in the deficit. So if you want to bitch about gigantic increases in spending, start with Trump.

    Of course, the Trump lemmings are too stupid to see that these proposals make as much economic sense as AOC's and Bernie's pie-in-the-sky fantasies.
    We have long had death and taxes as the two standards of inevitability. But there are those who believe that death is the preferable of the two. "At least," as one man said, "there's one advantage about death; it doesn't get worse every time Congress meets."
    Erwin N. Griswold

    Taxes: Of life's two certainties, the only one for which you can get an automatic extension.
    Anonymous

  33. #29
    Quote Originally Posted by Sonny Tufts View Post
    North Carolina Liberty: a knee-jerk right-winger who is under the delusion that keeping SS/Medicare at current levels while cutting their funding equates to gigantic increases in spending.

    I'll explain it so even someone of limited understanding like you can get it: Trump says he wants to save SS/Medicare, expand the nation's military strength, and increase spending on infrastructure, space exploration, veterans' benefits, local police, a national wireless network, and cleaning up the oceans. He also wants to eliminate the payroll tax and cut income taxes. The obvious problem is that all of these these things cannot be done without a huge increase in the deficit. So if you want to bitch about gigantic increases in spending, start with Trump.

    Of course, the Trump lemmings are too stupid to see that these proposals make as much economic sense as AOC's and Bernie's pie-in-the-sky fantasies.


    But you won't criticize your 2x voting choice Obama for the same thing.
    Quote Originally Posted by TheCount View Post
    ...I believe that when the government is capable of doing a thing, it will.
    Quote Originally Posted by Influenza View Post
    which one of yall fuckers wrote the "ron paul" racist news letters
    Quote Originally Posted by Dforkus View Post
    Zippy's posts are a great contribution.




    Disrupt, Deny, Deflate. Read the RPF trolls' playbook here (post #3): http://www.ronpaulforums.com/showthr...eptive-members

  34. #30
    Quote Originally Posted by NorthCarolinaLiberty View Post
    But you won't criticize your 2x voting choice Obama for the same thing.
    Thanks for confirming your no-thought, knee-jerk response habit. As usual, it led you to a false conclusion.
    We have long had death and taxes as the two standards of inevitability. But there are those who believe that death is the preferable of the two. "At least," as one man said, "there's one advantage about death; it doesn't get worse every time Congress meets."
    Erwin N. Griswold

    Taxes: Of life's two certainties, the only one for which you can get an automatic extension.
    Anonymous

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