MAKE NO MISTAKE: The Payroll Tax FUNDS Social Security and Medicare. TODAY, trump just promised to DEFUND them.

Thread: Don't care. Still voting for Trump. - Official Music Video


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If you make over $100,000 you still pay. I would think all the redistributionist lefties would love that, but orange man bad.

I don't care if Trump defunds Social Security and Medicare and drives them into insolvency.

I'm still voting for Trump!

You also realize that this is a deferral and you will likely have to pay it all back next year, right?

Ive worked for 20 years and wished i could opt out of their bullshit programs due to the fact i doubt itll be there when i retire anyway

So this is a big win

He's just ending federal taxes, not social security - Dumbass - or should I call you a liar?

Do you even have a clue what you are talking about?

Trump wants to defer payroll taxes. That is the only source of revenue for Social Security and Medicare, into which we have all been paying our whole lives.

If Trump ends that revenue, they are finished much sooner than anyone has ever predicted.

Not only that, this is a deferral. That means you will have to pay it back next year IF you have any money.

Let's see Trump go public and actually say he favors ending Social Security and Medicare next year and see him lose the election by a landslide as a result.

He's just being sneaky about it by defunding them and making it look like a nice windfall for you.

A big, fat, 7% increase in your paycheck, which will of course be taxed back down to 5% or less.

You do realize there's about 5 different "taxes" they take out of your check right? Social security is it's own thing in that, along with state and federal, then medical insurance and the like.

And let's be real about another aspect of this while I'm here. Cutting the taxes puts more money in the workers pocket NOW, not years down the road, and if you think the government isn't going to reinstate all of this as soon as they can then I'm not sure what planet you're living on.

Thinking we will stay federal and state tax free indefinitely is a dream.

Just until December

trump said income taxes and capital gain stock not payroll tax (social security/medicare)

After Covid-19 kills off almost everyone over 65 there will be no need for funding Medicare and SS.

Trump's always in the future.

Neither one of those programs have been funded by payroll taxes in decades. Al Gore's lockbox never happened. The payroll taxes barely pay for the interest on the national debt. Borrowed money pays both of those programs and the Fed will eventually be left holding the bag.

He said some aspects of the payroll tax!

its all getting a big reset anyway in the next year

good or bad we will see..

biden would raise taxes and cut social security anyway.

id rather be for trump and play this out than obama lite..

at least this ride is something new

No.

Read it:

Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster

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sounds like its designed to help businesses stay afloat instead of closing.

No.

Sec. 2. Deferring Certain Payroll Tax Obligations. The Secretary of the Treasury is hereby directed to use his authority pursuant to 26 U.S.C. 7508A to defer the withholding, deposit, and payment of the tax imposed by 26 U.S.C. 3101(a), and so much of the tax imposed by 26 U.S.C. 3201 as is attributable to the rate in effect under 26 U.S.C. 3101(a), on wages or compensation, as applicable, paid during the period of September 1, 2020, through December 31, 2020, subject to the following conditions:

(a) The deferral shall be made available with respect to any employee the amount of whose wages or compensation, as applicable, payable during any bi-weekly pay period generally is less than $4,000, calculated on a pre-tax basis, or the equivalent amount with respect to other pay periods.

(b) Amounts deferred pursuant to the implementation of this memorandum shall be deferred without any penalties, interest, additional amount, or addition to the tax.

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Read it.

And note this is a tax free deferral of taxes you owe, which you are obligated to pay back next year.

Do you really think that a 7% deferral of payroll taxes is going to keep a company that is teetering on the brink of bankruptcy solvent and in business?

Who's the head of the Fed right now? Trump is - we cancel our own debt. Print the US note - not borrow from the private roschild Fed/IMF.

People are not paying attention - and the demoncraps are lying to you.

The only "payroll" tax that will be not taken from your paycheck will be the federal tax -

People - look at your paycheck stubs - don't be idiots.

Incorrect.

This is about the payroll tax, not Federal income tax. The payroll tax is the sole source of revenue for Social Security and Medicare.

READ the Social Security Act of 1935. They told you from the beginning there is NO TRUST FUND. A trust fund is never mentioned in the SS ACT.
It is called a trust account in which is recorded your contributions. This was not said but I believe the only reason they keep account is to make sure you pay all they determine you owe.
The ACT says all taxes collected will be deposited in the general fund as IRS tax receipts.
In a decision after the year 2000 the United States Supreme Court determined the Social Security Administration has no contractual obligation to pay any funds to anyone. The ACT is NOT an insurance policy. The funds are collected to increase revenue. If you don't believe me then read the very first paragraph of the act where it explicitly states and I quote 'to increase revenue'. The first paragraph goes on to state and I quote 'and for other purposes'. Do you think Congress can think of other purposes to spend the money?
When you realize the general fund of the United States is an IMF account in a bank in Puerto Rico then you will realize we have been lied to since 1935 at the latest. Anyone who claims there is a SS Trust Fund is either uneducated or bald face lying to you.
Each state SS administrator tells Congress how much money the state is going to need for the next year and Congress appropriates it out of the general fund for the next year.

1. social security payroll tax (cash from your paycheck and matched by your employer) goes to the social security administration (SSA)
2. The SSA takes all that cash and buys "special issue" US government bonds. These bonds cannot be sold - ever.
3. The government spends all the newly acquired cash.
4. So the federal government is essentially issuing an "IOU" to itself and spending all the money.
5. The Social Security trust fund consists of a bunch of slips of paper saying the federal government will pay the SSA back. These slips of paper are NOT MARKETABLE and therefore, cannot be used to raise cash. There are no real assets or cash in the trust fund.

Imagine that you write a promissory note to yourself saying you owe yourself 10 billion dollars. Does that note make you a billionaire? Of course not.

Throw them old folks out in the street and let em eat cake.

Ac is right. Trump has taken over the federal reserve. We don't owe taxes to the federal reserve or their mafia money collectors the IRS.
Right now the old system and the new system is running parallel until all the work is done. You guys are going to be pleasantly surprised when you realize you are no longer debt slaves. Have patience, this is a monumental job and it takes time. As Trump just said, he has one chance to get it right. If he fails our country is done.

My dad, a redneck who loathes politics & has NEVER voted, just left me a voicemail. Between the random string of obscenities, I can decipher “Boy, I need you to help me vote. Your momma just told me that son of a bitch is gonna fuck me. That’s my fucking money.”

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Theyll owe their soul to the company store.

As usual trumps shoots his self in the foot.

$1.75