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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsJEEPERS, What a SURPRISE! Look who gets the fattest checks from Trump's "payroll tax cut."
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JEEPERS, What a SURPRISE! Look who gets the fattest checks from Trump's "payroll tax cut." (Original Post)
Miles Archer
Mar 2020
OP
CaptYossarian
(6,448 posts)1. He even looks like the Grinch.
flibbitygiblets
(7,220 posts)3. If the Grinch ate nothing but spam
CaptYossarian
(6,448 posts)4. If that's the Lorax in your message box, you're probably
an expert on Dr. Seuss characters and would know the Grinch's diet.
BlueWeirdo
(9 posts)2. Not those that need it that's for sure.
It's such a terrible idea.
Bernardo de La Paz
(49,045 posts)5. It defunds SSI, doesn't it?
Miles Archer
(18,837 posts)7. Yes.
What Trump is proposing to cut, to be clear, are Federal Insurance Contributions Act payments. As the name indicates, these payments are not general taxes, but insurance contributions, or, in todays parlance, insurance premiums. By law, they can only be used to pay Social Security insurance benefits and their associated administrative costs. Social Security has no borrowing authority. Consequently, Social Security does not and, by law, cannot, add even a penny to the deficit. If Social Security were ever to have insufficient revenue to cover every penny of these costs, those benefits would not be paid.
https://www.rawstory.com/2020/03/trump-is-using-the-coronavirus-crisis-to-to-launch-a-stealth-attack-on-social-security/
https://www.rawstory.com/2020/03/trump-is-using-the-coronavirus-crisis-to-to-launch-a-stealth-attack-on-social-security/
Ilsa
(61,698 posts)6. If a worker cannot report for duty,
how do they benefit from a tax cut during an emergency when they aren't getting paid?
lame54
(35,326 posts)8. Again - trying to exploit a tragedy