Trump Takes Matters Into His Own Hands
Student Loan Relief
Expanded Unemployment Benefits
Trump authorizes an extra $400 per week. “It wasn’t their fault, it was China’s Fault.”
Protection From Evictions
Eviction protections applies only to government loans. Taxpayers are on the hook.
The WSJ reports “A White House spokesman said the agencies were considering measures to prohibit evictions of any tenants due to the pandemic.”
If so, that openly invites people not to pay with property owners are on the hook. It’s bad policy.
$400 or $300 Weekly?
Of the extra $400, Trump said the Federal government would pick up 75% of the cost.
That means it’s really $300.
It’s unclear how states will respond. It’s also unclear what happens if cash-strapped states don’t have the money.
How Convenient
The extra benefit only goes to December 6. The election is Tuesday November 3.
After the election, would Trump really give a damn?
The payroll tax cut lasts until December 31.
Unconstitutional?
The following snip courtesy of the Wall Street Journal.
“This is blatantly and absurdly unconstitutional,” Rep. Jamie Raskin (D., Md.) said of the president’s actions on unemployment benefits and the payroll tax. “The president is literally trying to steal away the powers that Congress has over spending and taxing.”
The tax deferral is legal under a tax code section that gives the administration the authority to pause tax deadlines after a presidential disaster declaration. It is the same law the government used to delay the April 15 tax-filing deadline to July.
The payroll tax change doesn’t change the underlying obligation, which means that workers, and perhaps employers, would still be on the hook for the taxes eventually. Mr. Trump said he would press Congress to turn the deferral into an actual tax cut.
It is far from certain that employers would actually stop withholding and submitting the payroll taxes. That is because they may be concerned about having to withhold more taxes from workers next year, or about being stuck with the obligation themselves.
How Will States, Employers, Democrats Respond?
Although the payroll tax cut is legal, not even the Republicans supported it. Moreover, it creates such a looming liability that employers may not go with the program.
The rest of Trump’s measures are more than a bit questionable constitutionally.
We find out how the states and Democrats respond shortly.
Mish
I have started to LMAO whenever I read the words “unconstitutional”. The only reason civilization exists is because of laws that citizens and government respect and enforce. It’s been a long while now since the SES loaded courts including FISA courts have given a shit about the law. The whole judiciary has become a political bad joke and I mourn the demise of our republic. This is NOT a partisan issue.
So, the gvmt, is going to give us a guarantee income, if SOC SEC goes astray?, But, that’s not going to stop rising costs, ex: rent, food, cost of living! Is that in the plan, & did anybody think if it?
UBI ( a real UBI that actually is universal for all adults) is not really the problem, it would simply be an ongoing devaluation of the dollar, which it is already doing anyway. And it would at least allow a shot at closing down the grotesque wealth inequality by some.
Yet it will by force of black letter economic law also bring inflation, because it is like the inverse relationship between bonds and interest rates, devalue the dollar is just another way to say prices go up, and prices going up is just another way to say the dollar goes down. But, that is why the UBI has to be Universal because everyone is going to deal with the inflation that comes with it. Leave anyone out and you kill them. Of course the wealthy can afford it so from affluent upwards you phase it out. That is part of how you address the wealth gap, or at least slow the pace at which Wall Street 1% are gang banging this nation of every dime while the labor is left in true poverty by comparison.
Since 2001 the top 10% of households by income have taken more than 100% of ALL net new wealth in the nation. That means they are getting all new created wealth plus some of the wealth of the lower 90% and it is accelerating. I do not know or care what the ultimate solution will have to be but I know we are at the point of that problem ending our nation. Something has to be done now, not ten years from now. It would not even bother me if they made it retroactive. That is how dire the situation is.
Another thing they could do but will not, is measure real costs of living with real prices UNADJUSTED. And report those honestly.
Every State is massively cutting costs now so I don’t think any of them will pick up extra unemployment costs. Trump did this knowing that no State would offer it so he can blame all the governors. Just like the virus. He blames the governors.
It’s not a payroll tax cut! It’s an extension of time for employers to file their payroll returns. Every employee still owes 100% of this tax and will still be charged every payday. It just lets their employers hang on to the $. People will be mad when they realize there is NO tax cut.
Never seen a press conference with a studio audience cheer section
Trump needs to name this the National Recovery Administration, NRA. We will know soon after whether any pictures of Roberts on Epstein Island exist.
Trying to predict what will happen under this mess is like the ancient Roman’s practice of reading sheep’s entrails to determine the auspices. “I’ve never seen the liver of a ewe so clear. You could practically see through it!”
And you can. No matter what happens, the rich gets richer, the poor gets poorer.
So easy to predict, monkeys can do it.
It’s China’s fault, not the tenants, so let’s stick to the landlords. Completely irrational. Plus, Landlord/tenant relationship is rooted in contract law. If executive power is that absolute we are going to have a complete debacle before his term ends.
So, are these Constitutional? Probably. He probably has the power to defer student loan payments and the date at which payroll taxes must be paid. Are they creating a bigger problem for later? Probably. Congress will be under pressure to avoid the possibility that everyone owes a huge amount of taxes on April 15 next year.
The good things about these Executive orders is that none of them benefit the ultra-wealthy, and none of them bail out poorly run cities and states. I strongly feel that cities and states should deal with their own messes, so I think these are a huge improvement over the Democratic bill.
Trump has handed the Democrats their asses on this and they cannot do a thing about it. They might as well stop complaining because they look like idiots.
This Executive Action is very clever, a lot like DACA was for Obama. In both cases, lots of money is given away to sympathetic people in action that will have the support of most people. Trump can say, as Obama did, that “congress wouldn’t act, so I did”.
What do the Democrats do? Go to court to fight student loan relief? File a lawsuit to stop additional unemployment benefits? Fight Trump to allow evictions to go forward?
“The payroll tax cut lasts until December 31.”
AHEM, Mish, this is NOT a payroll tax cut at all, it is a DEFERRAL. The difference is that the taxes were not lowered only deferred till after the election when those taxes will be collected. That will slam paychecks as repayments come due. That is the only way he can even remotely argue his authothrity to do this, he is not changing the law or cutting taxes, just deferring, or rescheduling if you prefer, the payroll taxes.
See: “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.”
So, they end current payment of payroll taxes through the election and then Mnuchin will look at ways to make the deferral permanent and require no recapture which he absolutely will not find because it would be bald face illegal. American workers will then get a particularly nasty surprise in their pay packets come January.
And what happens to those who are laid off at the end of the year, for example census workers? They go on UI only to find their compensation reduced for repayment of the payroll taxes. Ah what a freaking circus.
Exactly. People were unhappy when a prior President changed the withholding table to “give people more money”, only for the people to realize they no longer got a big tax refund at the end of the year. What are they going to say when they get more money now, but then come January they find they owe $1666?
Doing some math here, lets say a person making $40,000 pays $2,000 a year in income tax. He also pays about $3,000 a year in FICA/Medicare taxes (while his employer matches that). So, deferring that for 1/3 of a year would mean a January tax surprise of $5000/3, or $1666. The more a person makes, the bigger their tax surprise.
Very few business will actually stop withholding. The liability would just be too great.
I’m not clear on this, but it may well be that the income tax withholding is not affected, only the FICA/Medicare part, and even that, only the employee portion. The total tax is about 15.2%, with the employer paying half, and the employee paying half. I’m sure that the business would be required to continue paying their half.
If the income tax withholding is unaffected, then the math would be different than I posted above. For the person making $40,000, the only thing that would be deferred would be 1/3 of $40,000*.0761, or about $1000. That would mean that instead of a typical $500 tax refund they would owe $500 in January. Some might ask, why would it be on the income tax form? Answer, because, indeed, payroll tax does appear on the 1040. For self-employed people, they pay there Payroll tax on on the 1040, so people who underpaid their FICA/medicare for the year would also pay it there.
In the end, if the government ends up forgiving it, this will be about the same as sending out another $1200 check, except that it will be larger the more a person makes. A person who makes $20,000 will get $500, while a person making $100,000 will get $2500.
Payroll tax nearly always means the SS/FICA taxes not income tax withholding.
EDIT I looked it up and while it is used the way I said many also consider it to include state and federal income tax, if that is what Trumpsky means then it will be two paychecks people will owe come January. A cruel joke indeed but their vote will already have been cast. I strongly suggest that people refuse the deferral unless they think they can save that for later when the bill comes due.
We will have to wait till this begins to know what is being deferred exactly. But no matter how you slice it this amounts to an election bribe that is going to blow up in the faces of those who think it is a good thing. Their withholding after New Years will be a whole paycheck or more.
I just read trump plans on making it permanent if he’s re elected. I for one would welcome it because it seems unlikely I’ll ever get even half what I will have paid into social security before I die. I’d rather have my money, after all I’m the one who earned it. I don’t need the government “managing” my retirement $.
As for the current retiree’s something will have to be done to ensure they’re not left out in the cold, maybe a 1-2% tax to keep them whole.
If so, what they will likely do is make the employer pay the other half. If so, look for a 7.6% pay cut to offset it. It’s all smoke and mirrors, you know. A person who makes $10/hour looks at his check and concludes that he makes $8.00/hour, because his check shows deductions for FICA, Medicare, Fed Income Tax, and State Income Tax. Meanwhile, the employer concludes that the employee costs $12/hour, because on top of what he pays to the employee he has to pay FICA/Medicare Taxes, plus State Unemployment and Federal Unemployment taxes.
Thus, the truth is that the Employer pays $12, and the employee gets $8, and the government gets $4. If you change the rules, and make the employee pay all the taxes, the check will start with a Gross of $12, and end up $8. If you change the rules and make the employer pay all the taxes, the check will start with a gross of $8, and the employee will get $8. In the end it will still be the same, the employer will pay what it can afford, and the employee will get whatever is left after taxes.
PAYROLL TAX does not include state and federal income tax. It is FICA and Medicare, all the other taxes but not income tax and it will have to be repaid in January anyway.
I agree. Trump probably does have the power to defer taxes, just as he had the power to defer the tax filing date. He does not have the power to forgive the taxes. Thus, unless Congress acts between now and next April 15th, the taxes will come due.
As I think I showed, the amount of the deferral will be $500-2500. If Congress were to authorize another $1200 per person, that would offset for most people what they would owe.
But they would still owe on back rent and foreborn mortgages, at least 30 or 40 million there, and how many have deferrals on student loans? Many millions more.
I also would not count those $1,200 chickens before they are hatched either because prior to the election both parties will want to use it as a bribe for votes, but once the election is done both will want to spoil it for the other.
At this point I think we are going to see a bidding war for those votes.
His claim to make it permanent is misleading. He does not say or mean that he wants to stop collecting withholding permanently, he cannot do that AT ALL. And in fact all he has done is defer collection of that tax till the end of the year so that as people go to vote they may believe he is helping them, he isn’t.
A deferrment just means you do not pay now but you do have to pay it later. The statement about possibly making it permanent only applies to that part that was deferred. As I posted above he will instruct the Treasury Secretary to “investigate” ways to make that permanent, meaning forgiving those deferred months of uncollected taxes.
This is an ELECTION stunt to look decisive and to bribe low wage earners. Like he is on their side, in reality come January they will get hit with a withholding that could eat an entire paycheck or more. They will be reeling and the Administration will have a great big laugh. There is no way to “forgive” that deferred withholding short of changing the law and you know damned good and well the GOP and democrats just are not going to agree. The dems may say yeah, it is just 4months of withholding on low wage workers so fine, but then the GOP will say NO WAY you bitch, that is a budget buster. Conversely if the GOP says fine the president wants it the dems will say nope, you gave them a gag gift and if they were dumb enough to fall for it they will learn the hard way why they should not vote for republicans.
I’m self employed and I believe the se tax is 15.3% which is a big chunk every 12 months for someone grossing 100k+, so if I got 7-10 or whatever % it would be welcome and on a 10 year timeline would go a long way to helping me meet my retirement needs.
I love watching triggered hamsters, especially MiSh.
Why are we still counting for? The virus hits one cell and the body fights it off or it doesn’t.
Facts:
350,000,000 Americans, 5,000,000 cases, 1.42%
350,000,000 Americans, 162,000 deaths, .00046%
The flu kills more than that.
The virus is real, lying Fauci is not.
Cancel WON. The soul of America is loss forever
Ha, what????? In the first place, Covid is far from done. By November the death toll will be 200-250,000, and after the normal peak in January-March, when most flu deaths occur, covid will probably end up in the 4-600,000 range.
In most years the flu kills about 25,000 people, and they only reach that high of a number by taking the 5,000 deaths that they are actually able to identify, then multiplying them by 5, guessing that they probably missed a lot. So, the math is 5000=25000>500000?
I’m guessing that you forget to add “/sarc” at the end of your post, because you obviously can’t be serious.
Current numbers do not lie. Remember that ass Fauci saying a couple million Americans would die this year from this? What a panderer.
This is similar to another version of Flu. A pandemic doesn’t only kill 1% of the population. At this point it’s at 0.4% for the United States.
And the masks are scientifically proven to be bs as well. Every scientist that posts on YouTube is conveniently removed by our Marxist agenda here.
The propaganda you all believe is exactly how Hitler started out. Now think reasonably about that.
People like you believe everything spoon fed to you by the propaganda machine.
Like I said. This is how Hitler started.
How about how many of these deaths were really not Covid nut classified that? Any of you think of that
look up the definitions of propaganda. like you, most are clueless — you think you know what it is and are safe from it yet you are drowning in it.
Damned if you do and damned if you don’t ?
David Gergen writes:
My suspicion is that Trump secretly wanted the virus talks to fail so he could take center stage, stir up a distracting controversy & create an issue for the campaign.
Always, everything, every aside comment, is for the center stage. The hair even.
Probably. Or this drives Pelosi to make a deal Monday morning and this absurdity can be torn up … before the courts tell him No Go.
Does anyone not see what is going on?
Trump is forcing democrats to talk about how Trump can’t give people money. Regardless of the legality of this the message is clear. Trump can’t give you free stuff, only we can and we are at home for summer break.
It’s a win for him in so many ways. He is not as dumb. Who though undoing years of corruption would be easy? You didn’t think they would fight back?
Agree, this really was well-played. Late last week, Mitch McConnell was drawing the lines, showing that congress was trillions of dollars apart on a solution. They got Nancy Pelosi to say that she refused to negotiate on some of her demands. Trap sprung!
Now the apolitical Trump (his only politics is Donald Trump) rides to the rescue, with giveaways for the American people! “Too much in student loan debt? I release thee! Can’t pay your rent? No problem, stay in your place for free! Running out of unemployment money? I’ve got free money for all! Congress can’t help you, but I can and I will!”
Now what does Nancy Pelosi do? Continue to try to negotiate a congressional deal after she has staked out her no-compromise position? Take the administration to court for giving too much money and too many benefits to lower and middle class voters? She has been completely outmaneuvered.
Exactly. He is finally learning politics. He has weeded his administration and it’s finally starting to hit on all cylinders. I haven’t been a big fan of his over the last few years but his handling of the second part of the covid crisis has been pretty good. As soon as the media has to admit this virus is here to stay(everywhere in the world) I don’t like pretend and lockdown is going to fly anymore.
In a world of nothing but bad choices no one is every happy.
Can Trump abolish the income tax ?
Simple: either stop all the prolonged lockdowns and we can exit state of emergency, or emergency continues and the President can yank their chains as long as he likes, and after SCOTUS DACA ruling recently, there’s nothing they can do about it.
I get that people don’t like him, but thinking he’s dumb is quite dumb in itself. He’s had a master class in politics the past four years and is a fast learner. He’s been a one man wrecking ball for the MSM, and the Flynn case is threatening to up end the Judiciary – who are extremely politicized for some time now, i.e. corrupt – as well. If they have to go all the way to SCOTUS with it and Roberts rules against even though Flynn has been definitively proven railroaded by docs released after his trial ended, then the whole country can see just how controlled and useless they are. If they end the charade this week or later at SCOTUS, they are admitting they’ve been running a charade at each level before it got there.
Trump’s team is very good at boomeranging, aka counterpunching. You let the opponent shape the terms of the encounter and then bounce it right back on them.
It’s pretty neat. Or for fans of Alysnki: it’s using your enemy’s own rules against them.
The problem is reality isnt politics. Read the Fifth Risk by Michael Lewis to understand why Trump is such a failure. Everything is political for Trump and he has no clue what he is doing. It is as if a blind dart thrower has become president.
The Destroyer-In-Chief is trying to buy votes with people’s own money. that must be 6D chess! But then again why $400 instead of $100k per week and order the states to come up with that money?
Um, all politicians buy votes using other people’s money.
Remember: Keep voting for Republicrats! Don’t waste your vote on independents or 3rd-party candidates!
/s
I do not think ANY of you are understanding what has happened. This was not a Trumpian power grab for political theater in the run up to the vote to make other parties look bad. This was an actual coup.
What an idiotic statement!
Total disregard for the appropriations clause of the constitution, a stab straight to the heart of the separation of powers, the end of checks and balances. This is nothing short of a coup d’état. Next up an executive order delaying the election.
The democrats answer? A lawsuit. Wow that will be really effective against Tsar Vladimir who is now our de facto leader. Because Trump is his personal buttboy and they both are president for life now.
So we knew this 4 years ago, if the end of term one looked bad for reelection there just would not be an election. Even if they go through the theater of a vote it will be tallied in Moscow.
…..that russian bee in your bonnet again !
Where are the consitutionalist?
Well they are a funny lot. When the democrats are in power they are tearing their hair out on Faux Infotainment, when it is someone like BushCo II or Jabba the fat orange spy Trump the constitution is just a goddamned piece of paper.
Don’t get me wrong, I do think that these orders are inappropriate, but I’m not sure that they are unconstitutional. Congress has empowered the President to be able to alter the due date for taxes in times of emergency. No one questioned that he had the power to move the date for filing your 1040 to July 15 from April 15. To a certain extent, this is the same thing. Normally you pay your FICA/Medicare taxes on each check. Now, you will pay 4 months worth of them at the end of the year. I can’t predict how the courts will view that. It might be constitutional, it might not be.
The collection of taxes date can be delayed at the discretion of the president up to a point, so as with the income tax filing date he can alter the IRS date at which fines are due because the IRS is an executive branch function. Thy carry out the collection of taxes the congress has ordered we pay by law. WHEN they are actually collected though is another thing.
So, you are right about when the payroll taxes are collected is one of those things the executive branch has some discretion over, but not how much is collected, or owed, or ultimately paid. He has zero discretion over that.
The real problem here with these executive orders is two-fold.
One is the reason why we have payroll deductions is that at the end of the year you have to file income taxes, if there were no deductions all year long most people could not pay what is owed. It is the same for payroll deductions for FICA, state taxes, worker’s comp, etcetera. By giving a tax withholding holiday to people still working he implies – no flat out says that if he is reelected he will make this permanent.
That is something he cannot do. He does not have the authority. He is saying to people loud and clear that your employemt wages are going to rise because I ended tax withholding. And if you vote for me I will make that forever (if I can). But, that does not mean they do not owe the tax, only that withholding is going to end for the rest of this year, and if you vote for him they will stop all withholding in future. Those people will still owe those taxes. And the real problem is since this is done as a political ploy as early voting starts in a few days even those who know they are just getting deeper in debt to the tax man they are so hard up from Covid they will face that future when they get to it. They do not understand that an extra $100 this week means that they will owe more than 21 weeks of withholding on Jnauary 1 of 2021. It will then be withheld from their paycheck. All of it. So tens of millions of working people will not get a paycheck as those months of deferred tax is collected. And because it is 5 months of back taxes they have to pay they will not get a paycheck at all in most cases till March. All their pay will be absorbed till the back taxes are paid.
The other part of the two-fold problem is what if (and is is almost certain to be found by SCOTUS) the extention of UI and PUA payments in even reduced form at $400 per month is found to be unconstitutional? Far from the democrats being blamed the GOP will be blamed for this. Because if those $400 per week were not constitutional those that got that money will have to repay it as an overpayment. I have been there so I know wherefore I speak. That money will be taken out of paychecks. And I believe the Treasury cannot take out more than something like 30% of your pay to address an overpayment, but you stack that repayment withholding on top of your arrears on withholding tax and your arrears on student loans, and your arrears on rent or mortgages, we are talking about at least 30-40 million working people taking home next to nothing and in debt to taxes for years.
Like I said I have been there. In my case it was an error in the financial aid office at school but the fact that it was an error meant nothing to the taxman. It added ten years to my getting my degree in which I lived in poverty, REAL POVERTY. So much so it made a student’s life look luxurious. I ended up getting my BS finance in 1996 rather than 1990 because of that. Can you afford to blow 6 years of your life owing? Do you think in a macroeconimic sense that having tens of millions of people converted to slaves is going to grow this nation?
No. I have no illusions that the average voter will look into this and see the con. So Trump broke the law and dared democrats to take him to court which they actually have to do. But, I am cautiously optimistic that the numbers of voters so anti Trump will overcome even vote rigging and cheating that he will not be reelected. He could promise each of us a check for $20,000 to vote for him aand Biden would still win.
“The WSJ reports “A White House spokesman said the agencies were considering measures to prohibit evictions of any tenants due to the pandemic.”
If so, that openly invites people not to pay with property owners are on the hook. It’s bad policy. “
More like the first, and only so far, evidence of Trump’s vaunted 4d chess.
THE biggest problem facing America, pre as well as post covid, is excessive asset, particularly real property, valuations. And hence rents. Anything which brings those pure drags on the economy down (up to, and including, how it was brought down in the 30s and 40s) is ultimately nothing but a good thing. Just as the late 40s, 50s and 60s would not have been possible without the 30s and 40s reset, neither will America ever grow again, until the current drags are shaken off.
So the landlords all get nothing, and they default on their mortgages. The banks end up owning all the homes and start evicting tenants as soon as the restrictions are lifted. I don’t see how that is good for America.
The banks are levered enough to go bankrupt as well, if there is any widespread collateral distress.
It will literally fail all the way up to The Fed.
Who will then firesale the properties, since even The Fed will have a hard time arguing being a landlord is part of their charter.
Leaving the exact same houses for the exact same population, hence no real economic loss at all. Just with the oppressive and growth destroying debt, which is currently dragging everything down and making productive activity in America unaffordable and uncompetitive, wiped away.
It’s what would have happened eons ago, if The Fed hadn’t been around to bail out every effectively bankrupt zombie entity, for decades. Sans Fed bailouts, it would just have been a more continuous process of cleaning out the inefficient, so they didn’t get to sit there like zombies sucking the life out of productive actors. But because those decades of bailouts have left the entire economy so insanely far removed from how a free market would have, the necessary adjustment is now much more immediate and all-at-once.
It’s true, landlords not getting paid will lead to banks not getting paid. Same is true for forbearance on auto, credit card, and student loans. Forbearance will likely turn into default for many. That will have a negative affect on borrowing, over time. Less debt is what the country needs.
I just don’t see the US letting all the banks fail, I expect them to prop up the banks as long as possible, likely until the whole thing eventually collapses
It would have to come as a result of accepting that all the Fed has ever done, and honestly can ever do, is contributing to keeping value destroying zombies alive. Funding them by sucking the competitiveness out the ever declining number of remaining productive actors in the economy.
Until that dawns on enough people to become accepted wisdom, I have no doubt they’ll continue to do their darnedest to keep propping up ever more zombies. While continuing to try blaming everyone and everything else, for why American companies are no longer able to compete while paying American workers decent wages.
Stupid Trump should have offered 10K WEEKLY with States picking up 97%. Then he’ll get to blame the Governors.
Trump is clearly slipping.
Trump is just trying to goad Congress into putting a plan on the table. Then he will sign it and claim credit. Everyone should know the Trump playbook by now!
Cue the O’Jays
Backstabbers?
I was thinking For the Love of Money, but that works just as well
I think you have it exactly right. Pelosi and Schumer know that as well, which is why they are refusing to compromise on a deal that Trump will take credit for.
Really questioning the legal advice Trump is getting. Perhaps Trump knows it gets overturned but is only looking towards November
I think that’s the idea. If the Democrats sue to block the $400 payment, Trump figures he will gain votes, without spending an actual penny.
Here is the real problem for the schmuks that vote for Trump because of this bribe. What happens if that is later ruled to have been an illegal spending without proper authorization in the supreme court? Those that got the money would then have a substantial UI overpayment that would come due immediately barring some deal to work out repayments, which would only stretch it out but not recind the debt. Add to that a repayment for deferred withholding come January for low to middle income labor.
For a lot of people (30-40 million depending on who you read) they are already going to be behind on deferred rent or forebearance on their mortgages that will be taking a chunk of their income, now add on 13 weeks of $400 overpayment for UI Trump just gave them illegally and they are going to be bankrupted. Jeez if they also have student loans they could be working for nothing for half the year.
Been wondering if McConnell and Trump planned this long ago. Senate stonewalls legislation and runs out the clock knowing Dems will play hardball. Now they can try shoring up Trump’s viability while Biden is in hiding.
I had 2 employees up until last year and I could be wrong but the medicare-social security part is separate from state, federal and all the alphabet deductions. I’d bet the federal payroll tax is what is effected.
I considered this also.