Trumps executive order?

[JTRichardson]

What's in President Trump's four coronavirus relief executive orders?

https://www.foxnews.com/politics/whats-in-president-trump-four-coronavirus-relief-executive-orders

Explore the Fox News apps that are right for you at http://www.foxnews.com/apps-products/index.html



Not sure how I feel about this “payroll tax holiday” - slippery slope perhaps?

[SRK14]

Idk what to think of that payroll tax holiday either. Would they make us back pay it? I’m doing fine and working like normal as of now. I don’t really want to deal with any bs come tax time

[JTRichardson]

Idk what to think of that payroll tax holiday either. Would they make us back pay it? I’m doing fine and working like normal as of now. I don’t really want to deal with any bs come tax time

That’s where everything gets murky from my understanding of this.

What happens if you get laid off in December? Gonna owe a bunch of back taxes?

I’m not smart enough to figure out these crazy tax laws and I don’t think most people are either.

[BowhunterB]

Not sure what the point of the Payroll Tax Holiday is if you have to pay it back - not sure things will change that drastically in a few months that it would allow you to double up (or whatever the make up would be) on payroll tax to pay it back, or am I reading that incorrectly?

[JTRichardson]

Not sure what the point of the Payroll Tax Holiday is if you have to pay it back - not sure things will change that drastically in a few months that it would allow you to double up (or whatever the make up would be) on payroll tax to pay it back, or am I reading that incorrectly?

My line of thinking exactly. I just can’t see how this helps long term?

I don’t understand it, that’s why I brought it here so maybe someone who gets these things could help me out.

[Pedernal]

My take and I am no expert... All this is short term trying to keep the wheels of the economy turning... long term who knows what the effects of it will be but sooner or later the tax payers will pay for it

[SRK14]

Unless they are gonna use it for “temporary relief” but people will be back in a bind when they have to pay it all back anyways. Regardless of how they have to pay it. It would be self defeating to make people pay it back.

[Artos]

It's deferred so may bite a lot of people if it goes through or no opt out...not a big fan of any potus having this sort of muscle & hope it brings the idiots back to the table in a hopeful thought it doesn't get implemented.

The only good thing about that briefing was how he revealed all the schemes not related to covid the dem version wanted...also liked the comic relief laughs from the peanut gallery.

[unclefish]

Its no different than when they deferred income tax payments until July 15. You still owe it but have more time to pay.

But also there is this little snippet. 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.

[Playa]

That’s where everything gets murky from my understanding of this.

What happens if you get laid off in December? Gonna owe a bunch of back taxes?

I’m not smart enough to figure out these crazy tax laws and I don’t think most people are either.

You are referencing income tax, not payroll. Getting laid off in Dec will not impact the payroll holiday tax. Payroll tax is the tax employers pay for creating jobs. Don’t try to wrap your head around the stupidity of that...

Not sure what the point of the Payroll Tax Holiday is if you have to pay it back - not sure things will change that drastically in a few months that it would allow you to double up (or whatever the make up would be) on payroll tax to pay it back, or am I reading that incorrectly?

If you are a wholesaler or retailer struggling due to Covid restrictions, but rely heavily on Q4 revenue, this could benefit you as it would free up cash for operating now. It’s small but maybe saves a few from shutting down and their employees then going on unemployment and other benefits, maybe it’s worth it.

As a general rule im not happy or a fan of Exec orders, especially when they involve bundles of money

[iamntxhunter]

Trump is playing by the Democrat rules.
He doesn't have time nor the patience to sit down at the table of negotiation while they continually stall and delay with outlandish demands that only serves the Democrat party politically. You don't like politics? Neither do I but that doesn't make them go away.

Trump is smart, savvy and understanding of the Democrat playbook as much as anyone can be outside of being a Democrat yourself.

Trump didn't cave under the typical Pelosi and Schumer tactics. They were holding Trump and the American people hostage to try and extend the financial pressure brought on by their orchestrated attack.

Yes I am saying that the Democrat party elites played a role in the CV19 pandemic.
In case you having been paying attention this is the type of government we have now. A constitutional Republic? Lol has and is gone by the wayside.
The gloves have to come off and the traditional ways of doing business in this political climate are over.
The Democrats load every bill with reckless spending for them and for people who don't do a darn thing for this country and never have.

The democrats will sacrifice Americans for their political gain and they have continually proven that.
We are in a political revolution and a social revolution. I pray that we don't go to a physical revolution


Give a tax break to the workers of this country? He'll no!
Do I wish we weren't governing this way? Of course, but currently that isn't our reality

I think it's a good thing for the politicians to spend less money. Remember this. The Democrats want Democrat ran states to be bailed out with federal tax payers money.
I say NO!

[iamntxhunter]

You are referencing income tax, not payroll. Getting laid off in Dec will not impact the payroll holiday tax. Payroll tax is the tax employers pay for creating jobs. Don’t try to wrap your head around the stupidity of that...







If you are a wholesaler or retailer struggling due to Covid restrictions, but rely heavily on Q4 revenue, this could benefit you as it would free up cash for operating now. It’s small but maybe saves a few from shutting down and their employees then going on unemployment and other benefits, maybe it’s worth it.



As a general rule im not happy or a fan of Exec orders, especially when they involve bundles of money

Payroll tax is the tax that the worker has deducted out of his/her paycheck. Payroll is weekly tax paid income is end of the year accounting, balancing the books after deductions etc.

[mwk128]

Could be a political move for the election. Put the payroll tax holiday in place now to give the economy a little bump prior to the election. We all know how Trump loves to brag about the when the economic numbers go up and that could help his re-election chances. Let it expire at the end of the year. By that point it doesn’t matter to him, he’s either won the election and he doesn’t have to deal with it if he doesn’t want too, or Biden wins and he can leave it to him to deal with any negative consequences. Not sure if this is actually Trump’s intent but it makes sense if so. Of course none of this would be an issue if Congress could actually get something done. I mean it’s kind of hard to blame trump here. He kind of had to do something.

[JTRichardson]

Could be a political move for the election. Put the payroll tax holiday in place now to give the economy a little bump prior to the election. We all know how Trump loves to brag about the when the economic numbers go up and that could help his re-election chances. Let it expire at the end of the year. By that point it doesn’t matter to him, he’s either won the election and he doesn’t have to deal with it if he doesn’t want too, or Biden wins and he can leave it to him to deal with any negative consequences. Not sure if this is actually Trump’s intent but it makes sense if so. Of course none of this would be an issue if Congress could actually get something done. I mean it’s kind of hard to blame trump here. He kind of had to do something.

I agree that he had to do something. I'm tired of the back and forth between the two parties leading to a stalemate while the public is getting the s**t end of the stick.

[TeamAmerica]

What's in them likely doesn't matter because they are all four unconstitutional and therefore will not be effective. These are not new ideas. Congress needs to figure it out this is simply trump posturing so he can say see what I tried to do for the average American.