Trump steamed up to -150

MonkeyF0cker

EOG Dedicated
If you were someone like me who pays twice the FICA that someone that punches a clock like you does, you might know that employers also pay an equal/matched share to FICA that employees pay.

I see no holiday/deferment for employer FICA shares.
 

MonkeyF0cker

EOG Dedicated
But that must have been QAnon that told me how I pay taxes to the federal government.

Tell me more, Heisenberg. You seem to have a clue as always.
 
So employers don't pay a share of FICA now? LOL.

Currently, the FICA tax rate is 15.3% of the employee’s gross pay: 12.4% for Social Security tax and 2.9% for Medicare tax.

Of that 15.3%, the employer and employee each pay 7.65%.

https://bench.co/blog/tax-tips/fica-tax/

Once again you’re attempting to muddy the waters and move goal posts when proven wrong

It’s a thing you like to do

I pointed out the fact SS and Medicare are funded by payroll taxes

You tried to dispute that

You are incorrect as usual
 

MonkeyF0cker

EOG Dedicated
Not only would Trump's payroll tax holiday only affect employee shares for those making under $100k, but it wouldn't affect the employer share at all.

So it would be a reduction of not even close to half of all FICA revenue for the year.
 

alfie

EOG Dedicated
WALLACE: I -- just to be clear here, though, the Democrats are saying the result of a payroll tax cut is it would mean a cut in benefits for Social Security and Medicare, to which you say --

MNUCHIN: That's just factually inaccurate. There would be no reduction to those benefits. And the president's made that very clear.
 

alfie

EOG Dedicated
FACT CHECK: JOE BIDEN HAS ADVOCATED CUTTING SOCIAL SECURITY FOR 40 YEARS
“I tried with Senator Grassley back in the 1980s to freeze all government spending, including Social Security, including everything,” Biden said in 1995.
 

alfie

EOG Dedicated
Mnuchin also claimed Trump’s proposed payroll tax suspension would not lead to reductions in Social Security payments, saying that “the president in no way wants to harm those trust funds, so they’d be reimbursed just as they always have in the past when we’ve done these types of things.”
Pressed by Wallace on how the suspension would be paid for without increasing some other tax, such as income, Mnuchin responded, “You just have a transfer from the general fund.”
 

blueline

EOG Master
more of the shell game


President Donald Trump announced over the weekend that if Congress wouldn’t extend the $600 enhanced unemployment insurance, he would do something himself.
“I’m taking action to provide an additional or an extra $400 per week in expanded benefits,” Trump said Saturday at his golf club in New Jersey.
But $400 is not $600, which is what the benefit was until it expired at the end of July. And it turns out the extra $400 is actually just $300, unless states feel like adding another $100. And the money isn’t technically an unemployment benefit, possibly because it’s legally dubious. And it could take weeks for states to deliver.


If any laid-off workers watching the president’s news conference over the weekend thought they were about to get paid, they might wind up disappointed.
“It’s setting up workers’ expectations that they’re going to get a benefit that there’s almost no way they’re going to get,” said Michele Evermore, an unemployment insurance expert with the National Employment Law Project.
 

MonkeyF0cker

EOG Dedicated
more of the shell game


President Donald Trump announced over the weekend that if Congress wouldn’t extend the $600 enhanced unemployment insurance, he would do something himself.
“I’m taking action to provide an additional or an extra $400 per week in expanded benefits,” Trump said Saturday at his golf club in New Jersey.
But $400 is not $600, which is what the benefit was until it expired at the end of July. And it turns out the extra $400 is actually just $300, unless states feel like adding another $100. And the money isn’t technically an unemployment benefit, possibly because it’s legally dubious. And it could take weeks for states to deliver.


If any laid-off workers watching the president’s news conference over the weekend thought they were about to get paid, they might wind up disappointed.
“It’s setting up workers’ expectations that they’re going to get a benefit that there’s almost no way they’re going to get,” said Michele Evermore, an unemployment insurance expert with the National Employment Law Project.

Blame Congress
 
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