US President Donald Trump speaks during a news conference in Bedminster, New Jersey, on August 7, 2020.President Donald Trump vowed on Saturday to scrap the payroll tax, a funding mechanism for Social Security and Medicare, if he wins re-election.
"If I'm victorious on November 3rd, I plan to forgive these taxes and make permanent cuts to the payroll tax," Trump said at a press conference announcing executive actions on coronavirus relief.Visit Business Insider's homepage for more storiesPresident Donald Trump pledged on Saturday to scrap the payroll tax, a key mechanism that's used to fund Social Security and Medicare.
"If I'm victorious on November 3rd, I plan to forgive these taxes and make permanent cuts to the payroll tax," Trump said at a press conference. "I'm going to make them all permanent." He later said: "In other words, I'll extend it beyond the end of the year and terminate the tax. So we'll see what happens."a 15.3% levy on wages
known as the payroll tax. It's evenly divided between employers and workers, and most of it goes to fund Social Security. It also helps to finance Medicare, the federal health insurance program for people over the age of 65 and for younger Americans with disabilities.Trump's unexpected comments on Saturday came as he signed an
Can't even read the article. A good poli would just be frank and say “You don’t have to pay for dole bludgers and irresponsible sick people, if you vote for me.” What a rounded example of desperate fast food politics, divisive and desperate and provocative, community grinch.
Gold at 3000 before end of November then
If anyone can do it its him. If anyone needs to do ot as payback its him. I hope he can make it happen.
In the age of infinite money printing, they are always funded. Who are we kidding? Unless budgets are balanced and mindless foreign wars costing trillions are stopped, these concerns will remain political talking points
By 'permanently', he meant in the next three months?
The correct move is to increase the payroll tax to fund social security for those making more than $100,000/year. An amount that will not be noticed by those people can double social security payments for centuries.
If any thing needs to be done is they need to give everyone a $300 hundred dollar raise for social security
Millions of Americans rely on social security and Medicare after they retire. The long term affect will be immense.
realDonaldTrump ETTD King of Bankruptcy fast tracks bankrupting Social Security TrumpFailedAmerica TrumpMeltdown TrumpKillsAmericans TrumpKillsSeniors
Good. End social security!
Tell him to f-off our Social Security that we've paid into our entire lives!
Dishonest & misleading reporting. He pledged to scrap payroll TAXES but he didn't say anything that he will cut funding. You don't just assume there isn't other funding and then put words out of context to push your political narrative.
AMERICA RISE UP! LISTEN! HEAR/KNOW WHAT TRUMP HAS DONE/WILL DO! HE JUST SAID HE WILL ERADICATE/TERMINATE 'SOCIAL SECURITY & MEDICARE'. DIDN'T USE SPECIFIC WORDS BUT TRUMP'S AN EVIL 'CON MAN'; THAT'S THE EFFECT! HE'S AN 'ABOMINATION OF INHUMANITY'!
Attacking Social Security or Medicare is known as 'grabbing the third rail' in politics as anyone doing that winds up being voted out.
We should talk about this as it really is. He’s KillingSocialSecurity. Where’s the AARP and AARPadvocates?
Let's make America GREAT by not voting for Trump. BidenHarris2020
All of Trumps Chumps, following Trump like pied piper.
The best way to kill the government leviathan is to starve it. Any tax cut is a good thing. Conversely, I’m getting tired of, because of my household income, not being a beneficiary of any of them...nor any so-called “stimulus.” Typical redistributionary scheme.
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