There’s a lot unknown about how best to mitigate the economic fallout of the growing coronavirus outbreak. But what has brought agreement among several economic experts is that the payroll tax holiday President Trump is currently pushing is an ineffective and inefficient way of dealing with any economic disruption COVID-19 causes.
Trump really looks like shit lately.
And how does this help people without jobs?
It doesn’t.
We will just call them moochers… DJT and Mitt
?
" Brazilian spokesperson tests positive for COVID-19 after he meets with Trump and Pence at Mar-a-Lago"
The whole payroll tax cut is just a trojan horse to undermine Medicare and SS, does nothing to help the laid off or furloughed workers. Any Democratic congressman supporting this charade should be driven out of town on a beam after being tar and feathered.
B…b…but tax cuts cure everything.
When you’re laid off, or you can’t get any hours - in other words are not working - a payroll tax cut does absolutely nothing to help you.
Just more evidence that Spanky and his toadies have no clue as to how many Americans actually work.
A payroll tax cut fixes nothing WRT COVID-19 but, aside from the obvious fact this will reduce SS funding thus strengthening the argument for benefit cuts later, it’s just more Trumpuglican kabuki.
Semi-OT: Going to be a lot more of this as there was in 2016 but at least Twitter is starting to label it and corporate media (apparently) more willing to repeat.
On March 7, at 8:18 pm EST, Dan Scavino, assistant to the president and director of social media at the White House, tweeted an edited clip of a speech that Joe Biden gave in Kansas City, Missouri. It went out from his personal Twitter to more than 700,000 followers.
President Donald Trump retweeted the edited video later that day, and it's now received more than 6.7 million views.
The clip is edited so that the Democratic candidate appears to endorse Donald Trump's reelection. ...
ABC News
Many of the details remain unclear, but an elimination of the tax through the rest of the year would cost the government $700 billion.
Over 10 years right? Never understood why budgets are reported like that.
I want names, dates, and positions of those people that brought this to Trump’s limited attention. Screw Trump, I want to hear from the person who brought this up as a bright idea.
“Too much of it leaks out to the [relatively] high income people who don’t need the help and won’t spend it,”
For ( R )s, this is a feature, not a bug.
“Too much of it leaks out to the [relatively] high income people who don’t need the help and won’t spend it,”
That’s Trump Regime, always has the back of the rich people!
Trump payroll tax cut = Trojan Horse
Truth in advertising at last?
Unless people’s taxes are actually reduced, the “payroll tax holiday” just means you’ve got to come up with more on April 15th, no???
EXACTLY!! This is an obvious attempt to “shock doctrine” SS and Medicare. It is so obvious. He says “payroll tax cut” and everyone, D and R alike, are like “what?” Who knows who planted this idea in his head, but it is nothing more than an attempt to destroy the social safety net.
This is a classic “shock doctrine” tactic. Something bad is going on, so hey, let’s put through this legislation we’ve always wanted, and pretend it’s related to the current situation.
Right-wingers want a payroll tax cut because they want to cut Social Security. And a payroll tax cut would defund Social Security.
This proposal would do nothing to help the nation deal with the coronavirus pandemic. Instead of pursing Pete Peterson’s goals, Trump’s efforts need to be focused on the actual medical emergency. Do what is necessary to get more tests available.
Even with jobs, many people will not have the paid leave necessary to endure 2 week shut downs. According to CNBC 10 paid days is the average. I never had a job that offered more than that and you had to be with the company 5 years to get too.
Sadly, we had three years to try to build up a buffer for an economic shock, but we gave it all away in tax cuts and lower interest rates. It’s going to be bad, even if the administration does everything right in the coming weeks. Which they won’t.
“Would [the extra money] be enough to convince them to buy airline tickets? Probably not,” Gleckman said.
However, these are available at a steep discount…
I clicked “Like” 23 times. I hope TPM got the message.
