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Trump's executive order #6958446
08/08/20 08:39 PM
08/08/20 08:39 PM
Joined: May 2011
Posts: 16,512
Oakland, MS
yotetrapper30 Offline OP
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yotetrapper30  Offline OP
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So I'm sure most of you heard about Trump's executive order today. Now, economics isn't my strong suit, but if they stop taking federal payroll taxes out of our checks, won't we end up owing more at tax time? Or am I missing something?


~~Proud Ultra MAGA~~
Re: Trump's executive order [Re: yotetrapper30] #6958451
08/08/20 08:44 PM
08/08/20 08:44 PM
Joined: Jan 2014
Posts: 17,697
Central Oregon
AntiGov Online content
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AntiGov  Online Content
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Central Oregon
Originally Posted by yotetrapper30
So I'm sure most of you heard about Trump's executive order today. Now, economics isn't my strong suit, but if they stop taking federal payroll taxes out of our checks, won't we end up owing more at tax time? Or am I missing something?



I didn't catch the run down on that , but maybe he is referring to the employer portion of the payroll tax only . The part where if you employ someone you get to pay a fine ( tax ) instead of receiving a tax credit for creating a job or jobs . It would seem you may be correct if it is also for the employee portion. Idk

Last edited by AntiGov; 08/08/20 08:46 PM.

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Re: Trump's executive order [Re: yotetrapper30] #6958452
08/08/20 08:45 PM
08/08/20 08:45 PM
Joined: Dec 2006
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Coeur d' Alene, Idaho
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James Offline
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He's going to charge it to the national debt.

I'll wait for those who have argued such executive orders are unconstitutional to show up.

Jim


Forum Infidel since 2001

"And that troll bs is something triggered snowflakes say when they dont like what someone posts." - Boco
Re: Trump's executive order [Re: yotetrapper30] #6958457
08/08/20 08:49 PM
08/08/20 08:49 PM
Joined: Jan 2014
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Central Oregon
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I don't know all the details but seems much better than giving people who won't work wheelbarrows full of money to stay home and do nothing


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Re: Trump's executive order [Re: yotetrapper30] #6958459
08/08/20 08:50 PM
08/08/20 08:50 PM
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McGrath, AK
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white17 Offline

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The President said that he would direct the Treasury Department to allow employers to “defer” the payment of payroll taxes and then direct the Secretary of the Treasury to “explore avenues, including legislation, to eliminate the obligation to pay the taxes deferred pursuant to the implementation of this memorandum.”

He would later state that if he was re-elected, he’d “terminate” those taxes.


https://www.forbes.com/sites/jimwan...ed-and-eviction-moratorium/#2e6d32bfe785


Mean As Nails
Re: Trump's executive order [Re: yotetrapper30] #6958460
08/08/20 08:52 PM
08/08/20 08:52 PM
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mn north of blakely
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Steven 49er Offline
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Angela, as the order is written, you are correct. We'll have to pay it back at tax time. It appears that he said if he's reelected he'll forgive those taxes.


"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
Re: Trump's executive order [Re: AntiGov] #6958464
08/08/20 08:53 PM
08/08/20 08:53 PM
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North Carolina
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finbar Offline
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The order would cover payroll taxes for the employee, so no FICA. It wouldn't change your income tax liability which is not a payroll tax. But I'm just a guy who does his own taxes, not an expert at all

Re: Trump's executive order [Re: AntiGov] #6958465
08/08/20 08:53 PM
08/08/20 08:53 PM
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mn north of blakely
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Steven 49er Offline
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Originally Posted by AntiGov
I don't know all the details but seems much better than giving people who won't work wheelbarrows full of money to stay home and do nothing


Don't you think the wheelbarrows aren't coming. I think this is a ploy to get the Democrats back to the table. I also expect this won't be the last stimulus.


"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
Re: Trump's executive order [Re: white17] #6958470
08/08/20 08:57 PM
08/08/20 08:57 PM
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Central Oregon
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Originally Posted by white17
The President said that he would direct the Treasury Department to allow employers to “defer” the payment of payroll taxes and then direct the Secretary of the Treasury to “explore avenues, including legislation, to eliminate the obligation to pay the taxes deferred pursuant to the implementation of this memorandum.”

He would later state that if he was re-elected, he’d “terminate” those taxes.


https://www.forbes.com/sites/jimwan...ed-and-eviction-moratorium/#2e6d32bfe785



A risky proposition . I'd rather pay it and then recieve a credit , hopefully


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Re: Trump's executive order [Re: yotetrapper30] #6958475
08/08/20 08:59 PM
08/08/20 08:59 PM
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Posts: 5,214
Crivitz WI
Sprung & Rusty Offline
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What are we supposed to do? Millions have been affected. Lost their jobs and some lost their business. All from a man made virus.


No Jab.
Re: Trump's executive order [Re: Steven 49er] #6958477
08/08/20 09:00 PM
08/08/20 09:00 PM
Joined: Jan 2014
Posts: 17,697
Central Oregon
AntiGov Online content
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Originally Posted by Steven 49er
Originally Posted by AntiGov
I don't know all the details but seems much better than giving people who won't work wheelbarrows full of money to stay home and do nothing


Don't you think the wheelbarrows aren't coming. I think this is a ploy to get the Democrats back to the table. I also expect this won't be the last stimulus.



I think Trump wants to do something for the working class for change , instead of giving the treasure chest to the 100,000,000 or so bottom feeders


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Re: Trump's executive order [Re: white17] #6958478
08/08/20 09:00 PM
08/08/20 09:00 PM
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Posts: 16,512
Oakland, MS
yotetrapper30 Offline OP
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Originally Posted by white17
The President said that he would direct the Treasury Department to allow employers to “defer” the payment of payroll taxes and then direct the Secretary of the Treasury to “explore avenues, including legislation, to eliminate the obligation to pay the taxes deferred pursuant to the implementation of this memorandum.”

He would later state that if he was re-elected, he’d “terminate” those taxes.


https://www.forbes.com/sites/jimwan...ed-and-eviction-moratorium/#2e6d32bfe785


See, so is it the employers that don't have to pay their portion, or the employees? Because the first paragraph there says employers....


~~Proud Ultra MAGA~~
Re: Trump's executive order [Re: white17] #6958480
08/08/20 09:02 PM
08/08/20 09:02 PM
Joined: Mar 2011
Posts: 11,443
Montana ,Rocky Mtns.
Sharon Online content
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Sharon  Online Content
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Montana ,Rocky Mtns.
Originally Posted by white17
The President said that he would direct the Treasury Department to allow employers to “defer” the payment of payroll taxes and then direct the Secretary of the Treasury to “explore avenues, including legislation, to eliminate the obligation to pay the taxes deferred pursuant to the implementation of this memorandum.”

He would later state that if he was re-elected, he’d “terminate” those taxes.


https://www.forbes.com/sites/jimwan...ed-and-eviction-moratorium/#2e6d32bfe785




This....

I saw this live and that is exactly what he said. He wanted to get the process into action and then make sure his directions are followed. Proof to anyone that he wants the interest of the people out of work , not looters of taxpayer's funds for illegal aliens , criminals, and middle eastern types in paid health care, voting, mail in ballots , etc., to our demise. Love how he was able to circumnavigate those who hate this country.

Re: Trump's executive order [Re: yotetrapper30] #6958483
08/08/20 09:08 PM
08/08/20 09:08 PM
Joined: Dec 2006
Posts: 17,379
Coeur d' Alene, Idaho
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James Offline
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Coeur d' Alene, Idaho
Since taxes are set by Congress, how can Trump terminate them?

This is an election ploy.

Jim


Forum Infidel since 2001

"And that troll bs is something triggered snowflakes say when they dont like what someone posts." - Boco
Re: Trump's executive order [Re: James] #6958484
08/08/20 09:13 PM
08/08/20 09:13 PM
Joined: May 2011
Posts: 16,512
Oakland, MS
yotetrapper30 Offline OP
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Originally Posted by James
Since taxes are set by Congress, how can Trump terminate them?

This is an election ploy.

Jim


It is. I agree with you, and I don't agree with ANY of this. But I still won't be voting for Biden or whoever that other chick is.


~~Proud Ultra MAGA~~
Re: Trump's executive order [Re: James] #6958485
08/08/20 09:14 PM
08/08/20 09:14 PM
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Oregon
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H2ORat Offline
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Oregon
Originally Posted by James
Since taxes are set by Congress, how can Trump terminate them?

This is an election ploy.

Jim

And a good one -- are you sorry that the dems can't do this?

Re: Trump's executive order [Re: yotetrapper30] #6958486
08/08/20 09:16 PM
08/08/20 09:16 PM
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Coeur d' Alene, Idaho
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James Offline
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Not really. The courts are likely to strike that one down.

Jim


Forum Infidel since 2001

"And that troll bs is something triggered snowflakes say when they dont like what someone posts." - Boco
Re: Trump's executive order [Re: James] #6958487
08/08/20 09:16 PM
08/08/20 09:16 PM
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Oregon
SpottedOwl Offline
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Originally Posted by James


This is an election ploy.

Jim


So was being able to keep my doctor. Hopefully this turns out better in the end.



Owl


Spend time with your kids while THEY still have time

Your life is an occasion ..... Rise to it
Re: Trump's executive order [Re: James] #6958490
08/08/20 09:22 PM
08/08/20 09:22 PM
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MN
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walleye101 Offline
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MN
Originally Posted by James
Since taxes are set by Congress, how can Trump terminate them?

This is an election ploy.

Jim


Don't underestimate Orange Man Bad, he may just terminate Congress.

Re: Trump's executive order [Re: walleye101] #6958492
08/08/20 09:24 PM
08/08/20 09:24 PM
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Iowa
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trapdog1 Offline
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Iowa
Originally Posted by walleye101
Originally Posted by James
Since taxes are set by Congress, how can Trump terminate them?

This is an election ploy.

Jim


Don't underestimate Orange Man Bad, he may just terminate Congress.



Sometimes I think we'd be better off without them.

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