Aug 9 2020
11:19 am

At his golf club in Bedminster, N.J., Trump announced (using executive orders) he was postponing payroll taxes through the end of the year, extending the unemployment “bonus” at $400 a week (down from $600), helping people “stay in their homes,” and waiving student debt payments through the end of 2020. The details, however, are not as generous as he made them sound.

House Speaker Nancy Pelosi on Sunday called President Donald Trump's executive actions on coronavirus relief "absurdly unconstitutional."

"Well, the fact is, is that whether they're legal or not takes time to figure out. I associate my remarks with what the Senator (Ben) Sasse (R-Nebraska) who says, they're 'unconstitutional slop.'

He is ordering a payroll tax deferral, not a cut, meaning the taxes won’t be collected for a while but they will still be due at a later date. On housing, he instructs key officials to “consider” whether there should be a ban on evictions. He also insists that state governments pick up the tab for some of the unemployment aid.

Currently the CARES Act provides that all employers may defer the deposit and payment of the employer's portion of Social Security taxes and certain railroad retirement taxes... The payroll tax deferral period began on March 27, 2020 and ends December 31, 2020.

Trying to kill Social Security as well as the Postal Service.

Deferral of taxes will be an unwelcome surprise when it comes time to ante up. Employees could be in for a real surprise, but can you imagine the liability some employers could take on.

Also, I wonder if the State of Tennessee will be willing to ante up the state recommended portion of unemployment?

jbr's picture

Trump and Mount Rushmore

On Sunday night, President Donald Trump tweeted out a picture of himself standing in front of Mount Rushmore -- an image that made him look as though he was the fifth presidential bust on the iconic monument.

Yes, of course Donald Trump wants his face added to Mount Rushmore

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