Trump's plan for payroll deductions is to give employees a loan of 7.65% of their gross pay (up to the annual base wage limit) which must be repaid in full with next April's taxes. If you make $60K, you'll get $382 per month now, and have to pay back $1,910 next year.
— Mary Beth "wear a damn mask" Williams (@wampumpeag) August 8, 2020
This "payroll tax holiday" is not a tax cut. At the end of it, all deferred taxes will need to be paid, which means workers will get months worth of payroll taxes taken out of their checks at once like an subprime mortgage "balloon payments."
— Andrew Feinberg (@AndrewFeinberg) August 8, 2020
And there’s no legal way for him to extend anyone’s unemployment because there are no funds appropriated for it.
Moscow Mitch has been Trumps principle enabler since the very beginning.
Because Moscow Mitch refuses to compromise with the Democrats on coronavirus relief legislation, he’s enabled Trump to issue four decrees (executive order) related to the issue last Saturday night.
It’s been obvious for some time that Trump would rather bypass Congress and ignore the Constitution so that he can rule by fiat.
What is it that Moscow Mitch wants from the current negotiations that the Democrats refuse to give him?
He wants Big Business to be exempt from all legal responsibility and liability for as long as there’s a single case of Covid-19 in America.
To get his way Moscow Mitch is willing to deny financial aid to the forced unemployed, to our states and cities, and to our faltering economy.
To help Big Business Moscow Mitch will allow Americans to go hungry, become homeless and generally suffer through with little help from the government.
That’s some pretty evil shit.