Replies to post #377476 on Tornado Alley (PROG)

[hookrider]

rooster: Yes it's the “The Great Pretend” for a big loser X president ole Jell-O Butt Trump!!! But we now have a Great Man name Joe Biden to lead us.

[fuagf]

Yeah a pretend. Like Trump's SS tax deferral Trump said was a tax cut.

The president’s payroll tax cut is really a loan that workers have to pay back. Let’s call it what it is.

Even if he’s reelected, Trump can’t guarantee that this debt will be forgiven

By Michelle Singletary Columnist
September 9, 2020 at 7:44 a.m. GMT+10

President Trump brags about his payroll tax cut. But money-smart employees see it for what it is: a loan.

[...]

Here’s the problem with this ill-conceived tax holiday.

Employers have to collect all of the deferred payroll taxes between Jan. 1 and April 30, 2021. This means taking out double the normal tax. If, for whatever reason, the money isn’t forwarded to the IRS, interest and penalties begin to accrue on any unpaid taxes starting May 1.

https://www.washingtonpost.com/business/2020/09/08/trump-payroll-tax-holiday/

I don't know what happened this year with that, but it's clear Trump pretended it was something it was not.