Trump’s Payroll Tax Deferral Raises Red Flags on Social Security

-- President Donald Trump announced four executive actions on Saturday, including a temporary payroll tax deferral for some workers and continued expanded unemployment benefits, as the coronavirus pandemic continues to hobble the U.S. economy.

The “meager” policy announcements were “unworkable, weak and narrow,” and by pushing off payroll taxes for some, “endanger seniors’ Social Security and Medicare,” House Speaker Nancy Pelosi and Senate Democratic Leader Chuck Schumer said in a joint statement.Trump said his action authorizes the U.S. Treasury to allow companies to defer -- not suspend -- payroll taxes for Americans making less than $100,000 a year from Sept. 1 through Dec. 31.

The president said another move would provide $400 a week in jobless benefits -- down from $600 weekly that had been provided through last week, authorized by a Congressional stimulus bill in March -- and that states would be responsible for covering 25% of that cost. To act on his own, the president is relying on an expansive and controversial reading of executive power that likely will face legal challenges. Trump’s advisers say executive action could pressure Democrats to reduce their demands and allow him to argue to voters that he’s looking out for their well-being amid congressional inaction.

Story continuesDemocrats criticized the president when he threatened the move during negotiations, saying the administration would be better off returning to the bargaining table. White House Chief of Staff Mark Meadows and Treasury Secretary Steven Mnuchin had been meeting throughout the week with Schumer and Pelosi to try to craft a deal, without success.

94 DAYS AND THIS TRUMP NIGHTMARES END STARTS..

how does the affect social security?

RT Lets also shed light on his planned cuts to Capital Gains taxes, which are designed to give WELFARE TO OUR VERY WEALTHIEST! HouseDemocrats SpeakerPelosi SenSchumer SenateDems Oppose such a CUT! MarkWarner timkaine SpanbergerVA07 ProjectLincoln

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President Trump Orders More Unemployment Pay, a Payroll Tax DeferralTrump signed four executive orders on Saturday, contending Washington's gridlock had compelled him to act as the pandemic undermined the country's economy and imperiled his November reelection hopes. $400 a week is 10$hr . Can you live on this paying cobra? Trump Payroll tax just takes money fro Social Security, Medicare and Medicade. Your fucking money Thank you. And lied over and over and over. Get your headlines right.
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