LegalDrugPusher said:

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mesocosm said:

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Meanwhile these EOs do nothing to help the American people

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But you would say they do if it came from socialist like yourself

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They did.












That was for you LDP!

It's not enough.

/cnn, msnbc,left,lib,etc

That_Guy_Moose said:

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This may help Trump but he seriously undermined incumbent Republican senators desperately clinging to their seats.

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How?

TAMU1990 said:

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That_Guy_Moose said:

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This may help Trump but he seriously undermined incumbent Republican senators desperately clinging to their seats.

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How?

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There are 6 incumbent GOP senators polling worse than their democrat challengers. It'll be easy to run campaign ads and wax poetic that their GOP senators were the original ones to reject Democrat relief plans.

Don't get me wrong, Democrats in the senate are equally culpable. The problem is incumbents can't attack challengers for the same reason they will be attacked because, well, they're not in the senate yet. Because Trump had to bail the senate out, there will be a negative reaction to the senate as a whole because they couldn't get it done. If public is dissatisfied with who is currently in the senate, they will vote against incumbents.

Quote:

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Trump's EOs may have just won him the election

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Only Congress can authorize the spending of money, not the president.

Employers also get a break from paying 1/2 of the Medicare & SS

law-apt-3g said:

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Employers also get a break from paying 1/2 of the Medicare & SS

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TAMU1990 said:

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That_Guy_Moose said:

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TAMU1990 said:

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That_Guy_Moose said:

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This may help Trump but he seriously undermined incumbent Republican senators desperately clinging to their seats.

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How?

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There are 6 incumbent GOP senators polling worse than their democrat challengers. It'll be easy to run campaign ads and wax poetic that their GOP senators were the original ones to reject Democrat relief plans.

Don't get me wrong, Democrats in the senate are equally culpable. The problem is incumbents can't attack challengers for the same reason they will be attacked because, well, they're not in the senate yet. Because Trump had to bail the senate out, there will be a negative reaction to the senate as a whole because they couldn't get it done. If public is dissatisfied with who is currently in the senate, they will vote against incumbents.

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It was disclosed that the democrats wanted another kitchen sink bill - just like last time in March. This time they wanted mail in voting and other items that have nothing to do with the aid. The republicans offered a clean bill and the democrats rejected it. They (democrats) did it before, I'm sure it will be easy to sell the point they did it again.

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Right, Democrats share the blame, no arguments there.

The issue is it's a difference of who was in office versus someone new. It's a senate institutional issues. The fact is that incumbents could not broker a bipartisan deal. This election cycle is a democrat swing (more GOP senators up for election). The only solid R flip is Jones from Alabama so the damage to democrats is minimal, whereas you can bet that Gardner, Collins (who are both toast regardless), Tillis, Graham, and McSally (who is also toast) are going to get hammered about this and COVID by challengers.

Not only that, Trump's EO has to work too. If voters do not feel helped by his changes, then it becomes very easy to spin it that GOP rejected the original plan, had to be saved by Trump (which they will say was an overreach of power), AND on top of that this breach of confidence from the executive didn't work. So the stakes are very high for Senate Republicans.

If you do google searches of the senate republicans fighting for their seats, all of them have quotes and articles detailing how they were hoping for compromise this week.

Trump has wanted the payroll tax cut as soon as elected. The corona and dems paved the way. I'm guessing dims should've hyped H1N1 and bit harder to get what they wanted.

heynow said:

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mesocosm said:

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Meanwhile these EOs do nothing to help the American people

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You don't know what the payroll tax is, do you?

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I don't, will someone explain it? I don't know how any of this will impact my paycheck. Thanks in advance.

jeremy said:

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heynow said:

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mesocosm said:

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Meanwhile these EOs do nothing to help the American people

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You don't know what the payroll tax is, do you?

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I don't, will someone explain it? I don't know how any of this will impact my paycheck. Thanks in advance.

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Well, Trump did it, so:

-if you're black, this will put you back in chains.
-if you're white, you're racist and will now have more money to donate to your favorite white charity.
-if you're Hispanic, you'll have more money to buy tools for your lawncare business.
-if you're Asian, you'll have more money to buy bats to eat and infect us all with their diseases.



I think that covers it.





hopefully, everyone knows that's sarcasm.

Seriously...

I'm probably not 100% accurate on this but here goes.

If you are employed by someone, your will most likely not notice a thing or at best, you will get a ~7.6% temporary raise (your portion of what you usually have withheld of Payroll tax. As written today, it would still be owed at YE for all income from Sept-Dec I believe). However, the ultimate main incentive is for your employer to keep you employed. It essentially allows them to keep the other ~7.6% of your payroll tax G&A expense to the company in-house... there-by reducing the companies G&A expenses.

If you are self-employed, then you get to personally keep that 15.3% payroll tax.....

But again, as written today it is still owed at YE.

Please correct me where I could be wrong. Not an expert here at all.

Yeah. Seriously. I was reading that it's part of FICA, but I also read this is a temporary delay. I have no idea how this would change my paycheck. Long term? Short term? How does my employer make those changes to the paycheck?

Ask me physics or construction, I'm interested and can usually figure it out. Ask me taxe law and my eyes glaze over.

It actually sounds like these EOs don't do much at all. It also seems like this will create more problems for the administration then currently exist. Namely, UI that states can't cover, businesses that don't withhold taxes, and federal agencies that support states actions/evictions.

Also, this gives lots of fodder to groups like the Lincoln Project that will contrast Trumps flip-flop on EOs (he was against them before he was for them)

https://www.washingtonpost.com/business/2020/08/08/trump-executive-order-coronavirus/

UI Benefits

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One of the measures Trump signed on Saturday aims to provide $400 in weekly unemployment aid for millions of Americans. Trump said 25 percent of this money would be paid by states, many of which are already dealing with major budget shortfalls. The federal contribution would be redirected from disaster relief money at the Federal Emergency Management Agency. Those funds are not likely to last more than two months, and Trump would not say when the benefits would kick in.

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Payroll Tax

Quote:

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Another document signed by Trump on Saturday attempts to defer payroll tax payments from September through December for people who earn less than $100,000. The impact of this measure could depend on whether companies decide to comply, as they could be responsible for withdrawing large amounts of money from their employees' paychecks in a few months when the taxes are due.

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Evictions and Student Loans

Quote:

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Two of the other executive actions are related to eviction protections and student loan relief. The plan related to housing only makes suggestions to federal agencies but does not halt evictions nationally. The measure on student loans aims to extend the relief granted by Congress in March through the end of the year.

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jeremy said:

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heynow said:

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mesocosm said:

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Meanwhile these EOs do nothing to help the American people

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You don't know what the payroll tax is, do you?

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I don't, will someone explain it? I don't know how any of this will impact my paycheck. Thanks in advance.

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Student loan repayment extended to the end of the year, evictions suspended, and payroll tax from September to the end of the year given a "holiday" for those making $104k or less, with Trump's promise that if he's re-elected that the "holiday" would be changed to "terminated" for those months taxes for those making less than the ceiling.

The implication being that if Biden is elected then those payroll taxes might get to come back home after the holiday. Lol.

https://www.google.com/amp/s/www.forbes.com/sites/jimwang/2020/08/08/president-trump-signs-executive-orders-for-payroll-tax-holiday-enhanced-unemployment-insurance-student-loans-deferred-and-eviction-moratorium/amp/

SS + Med + withholding x 4 paychecks a month adds up. Those making say 30k year almost 400mo more in pocket will be most welcomed.

jeremy said:

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Yeah. Seriously. I was reading that it's part of FICA, but I also read this is a temporary delay. I have no idea how this would change my paycheck. Long term? Short term? How does my employer make those changes to the paycheck?

Ask me physics or construction, I'm interested and can usually figure it out. Ask me taxe law and my eyes glaze over.

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I can't help you. If you don't understand what you AND you're employer pay into ss and Medicare you shouldn't have a JOB in the USA.

Remind myself to go over my youngest FIRST paystub with her. She's 16.

mazzag said:

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jeremy said:

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Yeah. Seriously. I was reading that it's part of FICA, but I also read this is a temporary delay. I have no idea how this would change my paycheck. Long term? Short term? How does my employer make those changes to the paycheck?

Ask me physics or construction, I'm interested and can usually figure it out. Ask me taxe law and my eyes glaze over.

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I can't help you. If you don't understand what you AND you're employer pay into ss and Medicare you shouldn't have a JOB in the USA.

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He's asking a valid question, no reason to shoot him down. An EO is an extremely unusual way of enforcing it (in fact Trump can only enforcing the IRS stopping collection of payroll tax for the period of the EO not an actual change in the tax law). His question is on the period and how his employer enforces the change, not for you to explain to him what his paystub says.

If he doesn't understand how this will affect his paycheck, that would indicate that many other Americans do not either.

That_Guy_Moose said:

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mazzag said:

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jeremy said:

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Yeah. Seriously. I was reading that it's part of FICA, but I also read this is a temporary delay. I have no idea how this would change my paycheck. Long term? Short term? How does my employer make those changes to the paycheck?

Ask me physics or construction, I'm interested and can usually figure it out. Ask me taxe law and my eyes glaze over.

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I can't help you. If you don't understand what you AND you're employer pay into ss and Medicare you shouldn't have a JOB in the USA.

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He's asking a valid question, no reason to shoot him down. An EO is an extremely unusual way of enforcing it (in fact Trump can only enforcing the IRS stopping collection of payroll tax for the period of the EO not an actual change in the tax law).

If he doesn't understand how this will affect his paycheck, that would indicate that many other Americans do not either.

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Barry did one after elected. For employees. If you can't recall that tax hiatus, I can't help you. If you can't acknowledge you'll keep more of your paycheck, then give it back. SS and Medicare is a yuge burden on workers AND employers. Glad Trump has exempted both. Unlike Barry.

Yep. I'm not a tax whiz, so i'll just assume i'm gonna owe some **** at the end of the year. 2020 is so stupid that i'll likely be paying for it in 2021. And I say that as someone who will be voting for Trump a second time. Humans are stupid and we elect stupid people.

mazzag said:

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That_Guy_Moose said:

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mazzag said:

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jeremy said:

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Yeah. Seriously. I was reading that it's part of FICA, but I also read this is a temporary delay. I have no idea how this would change my paycheck. Long term? Short term? How does my employer make those changes to the paycheck?

Ask me physics or construction, I'm interested and can usually figure it out. Ask me taxe law and my eyes glaze over.

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I can't help you. If you don't understand what you AND you're employer pay into ss and Medicare you shouldn't have a JOB in the USA.

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He's asking a valid question, no reason to shoot him down. An EO is an extremely unusual way of enforcing it (in fact Trump can only enforcing the IRS stopping collection of payroll tax for the period of the EO not an actual change in the tax law).

If he doesn't understand how this will affect his paycheck, that would indicate that many other Americans do not either.

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Barry did one after elected. For employees. If you can't recall that tax hiatus, I can't help you. If you can't acknowledge you'll keep more of your paycheck, then give it back. SS and Medicare is a yuge burden on workers AND employers. Glad Trump has exempted both. Unlike Barry.

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My point was that he asked a valid question and that the correct response isn't to tell him that he doesn't deserve to work in America for not understanding an obfuscating Executive Order.

I said nothing about Barack Obama, and my statement is true and reinforced by what you just said. Presidents cannot change the Tax Code via EO. They can order the IRS to extend deadlines (also known as a, you guessed it, hiatus). That's it. Long term everyone will owes these taxes back to the IRS. In sum, for the time being, if you make less than $4,000 every biweekly pay-period, you will get a 7.65% "raise."

Ag4coal said:

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Yep. I'm not a tax whiz, so i'll just assume i'm gonna owe some **** at the end of the year. 2020 is so stupid that i'll likely be paying for it in 2021. And I say that as someone who will be voting for Trump a second time. Humans are stupid and we elect stupid people.

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Good to see you man. Agreed on the election of stupid people.

You are correct, you will owe these taxes in the long term. Trump said he would like forgive them (if re-elected) and in time make the payroll tax cut permanent.

The issue is he has no authority to do so. Only Congress can permanently change tax law and there is no indication that Democrats or Republicans would be willing to change the Payroll tax. Keep in mind the payroll tax is critical to maintaining SS, which is a top 3 topic for older Americans (in favor of keeping the benefit usually). This would have implications for an important base for Republicans. On the left, cutting SS would not be consistent with their platform.