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Hope you are not dependent on Social Security or need Medicare   The Newsy You: News of Today

Started Aug-8 by MerlinsDad; 1178 views.
MerlinsDad

From: MerlinsDad

Aug-11

Good catch.

You're right.  This particular remark from July of last year will remain pungent and never grow stale.  It smelled like Limbaugher cheese when it was made and it still does.

Showtalk
Staff

From: Showtalk

Aug-11

I don’t know if they do or not, but I checked and it seems to be out of context, although he said what is quoted. He was referring to something else, not his own opinion.  Sound bites can be manipulated.

In reply toRe: msg 1
MerlinsDad

From: MerlinsDad

Aug-19

News item by Tami Luhby, August 19
https://www.cnn.com/2020/08/19/politics/businesses-say-payroll-tax-executive-action-unworkable/index.html

bolding mine --MD

Headline:  Businesses say Trump's payroll tax deferral action is 'unworkable'

Business leaders are pouring cold water on President Donald Trump's push to defer payroll taxes, saying that workers could wind up owing a lot to Uncle Sam in 2021 under his plan.

"Many of our members consider it unfair to employees to make a decision that would force a big tax bill on them next year," the US Chamber of Commerce and more than 30 trade associations wrote in a letter to Congress and the Treasury Department.
 
"It would also be unworkable to implement a system where employees make this decision," wrote the groups, adding many of their members will likely decline to defer the tax.
MerlinsDad said:

"It would also be unworkable to implement a system where employees make this decision," wrote the groups, adding many of their members will likely decline to defer the tax.

Those of us who have ever known anyone even 3 degrees of separation who have ever had a tax debt they couldn'r afford to pay later, would absolutely decline to defer the tax, even if it meant writing a check and filing a quarterly estimate. Because if you're suddenly impoverished, barely scraping by, the IRS is one headache you absolutely, positively, do NOT want among the raft of problems.

MerlinsDad

From: MerlinsDad

Aug-20

The IRS is one headache you absolutely, positively, do NOT want among the raft of problems.

Sound advice.

And the employers are smart not to offer it to their employees.  Not paying the tax for the few remaining months in the year won't put much extra money in one's pocket.  It's more about starving social security than helping people.

But it's only about another 4 months and a week left in the year.

MerlinsDad

From: MerlinsDad

Aug-23

By the time it could actually take effect, we'd be looking at less than 4 months.   It would be of little help and could require additional payment at the end of the year.

There is no intent to help the workers, it's all about helping the employers and starving social security.  It's actually rather slick political theater  in preparation to using it as one of the campaign "accomplishments."   It's the visual which counts, not the reality.

MerlinsDad said:

There is no intent to help the workers, it's all about helping the employers and starving social security. It's actually rather slick political theater in preparation to using it as one of the campaign "accomplishments." It's the visual which counts, not the reality.

It wouldn't really help the employers in the long term, though - it would just cause a big tax bill later, a kick in the teeth that won't help anything.

Showtalk
Staff

From: Showtalk

Aug-24

Everything I’ve read says there are no plans to starve social security. That is all political myth.

In reply toRe: msg 29
Showtalk
Staff

From: Showtalk

Aug-24

Quote from Minuchin

We’re going to create a level of certainty for employers that want to participate – we can’t force people to participate but I think many small businesses will do this and pass on the benefits,” Mnuchin told FOX Business on Wednesday. “[Trump will] go back to Congress when he wins the election and ask Congress to have this money forgiven and have the Social Security trust fund fully topped up so that in no way does this impact Social Security.”

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