obama executive order payroll tax cut

That seems to be the pattern lately.)

Longtime House parliamentarian to step down, Five things we learned from this year's primaries, Bad blood between Pelosi, Meadows complicates coronavirus talks, Economist Richard Wolff discusses economy's role in fighting COVID-19, Several countries are racing to come up with a coronavirus vaccine — together. We checked a claim he made about a payroll tax cut he signed into law. Could it be part of a long-term game plan?

", "Purity" is a strange word for opinions that are strongly held by seven out of ten Americans, including most Republicans, independents, and even Tea Partiers. In other words, the administration is merely allowing workers to retain money that they’ve already earned. And $2,136 for a family making a hundred million...). The package that passed with bipartisan support also extended the expiring George W. Bush-era tax cuts, among other things. They spoke out clearly and, as a result, 160 million American workers will continue to receive their payroll tax cut—about $1,000 in the pockets of the average family.”. Flash-forward to 2012: The "holiday" is set to end. Any attempt to let the 2% cut expire will be spun as an "Obama tax hike" on the middle class. President Donald Trump signed an executive order on Saturday authorizing a payroll tax holiday.

Lowering the tax rate by 2 percent reduces the tax burden for the median family by $996, or very close to the $1,000 Obama cited.

But it doesn't matter in the end whether he's been outplayed, or is playing one of those "three dimensional chess games"... in this case, with seniors as pawns.

Why single out the only source of Social Security's funding? Middle-class Americans may pay very dearly for the president's tax deal, and at the stage of life when they can least afford it. When it comes to jobs then, as Dean Baker succinctly says, the plan is "not trivial, but it's an order of magnitude less than what we should be looking for.

Payroll taxes fund virtually all of Social Security and much of Medicare. Joe Biden calls President Trump’s executive order deferring payroll tax payments through the end of the year a “reckless war on Social Security.” Nancy Pelosi says the President’s actions may lead to “shattering the sacred promise of Social Security.” Chuck Schumer warns that “President Trump’s plan to eliminate Social Security’s dedicated funding would endanger seniors’ Social Security and could mean the end of Social Security as we know it by 2023.”. Now is your chance to go on the record as supporting trusted, factual information by joining PolitiFact’s Truth Squad. In order to believe this "holiday" is really temporary, you have to believe that Obama and other Democrats will be willing to take that kind of heat, under enormous pressure in an election year.

© 2020 Forbes Media LLC. Democrats are expected to challenge the president's actions in court. Ryan Young, Copyright © 2020 Competitive Enterprise Institute, Trump Adopts one of Barack Obama’s Better Ideas: The Payroll Tax Cut, Up to 75 Percent of Uber Drivers Would Lose Work If They Were Classified as Employees, Amazon Claims Worker COVID-19 Infection Rates below Norm, CEI Presents the 2020 Julian L. Simon Award to Dr. Steven Horwitz. Either the anti-Social Security conservatives have played a better game of chess than the President, or this is the outcome he wants. stated on September 6, 2020 in a text post. But whatever happens, look at what Social Security's enemies will have accomplished: What's more, would-be cutters like Maya McGuineas and Alan Simpson have made it clear that they'd love to get their hands on the $2.6 trillion in Social Security's Trust Fund to use it for other purposes (like covering the debt that was run up by tax cuts for the wealthy and a couple of wars).

The president's track record on this issue isn't reassuring, either.

”, Coalition to Stop the Proposed Tax Hike Amendment, Approving the constitutional amendment on Illinois' November ballot “would let the politicians immediately implement their plan to increase taxes on small businesses, farmers and large employers.”, Says Donald Trump is not at Walter Reed National Military Medical Center, “he is on AF1.”, “That 5% (wealth tax) starts at $159,000 per family.”, Says Donald Trump boarded Marine One "with a portable oxygen concentrator in his pocket with the nasal cannula going up his back, hidden in his hair and tucked under his mask. Washington, DC So according to the Tax Policy Center, the 78 percent of households who see a benefit will see an average reduction of $934. But why take the chance when other stimulus packages would be more effective? But a relaxed attitude toward this "holiday" deal - "when listing legitimate concerns about the tax policy agreement, this one doesn't make the cut" - puts Social Security at risk. Those are serious flaws. Jessica Melugin 

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