Post by andyh64000 on Jul 22, 2020 8:54:05 GMT -8
This article is a little misleading, the direct benefits might favor upper middle incomes but anyone in the top 2 or 3% has already capped or is close to in by now and the superrich don't make money from paychecks anyway. It is still a spectacularly stupid idea since it mainly benefits those who have managed to continue working through the pandemic.
However, (and this is the Trump evil part) when Obama did it he did so for workers only (and just cut it to 2%), Trump wants to cut the payroll tax for businesses as well which, as with his tax scheme, would flow directly to the top 0.1%. That is really his end goal here. He couldn't care less about workers, he wants to give corporations another massive windfall and continue to inflate the stock market.
www.salon.com/2020/07/20/trump-threatens-to-veto-gop-relief-bill-unless-it-includes-payroll-tax-cut-that-favors-the-rich/?fbclid=IwAR013m6s4HbDO0s6TLylvRR3iSc-CJqbfnuyt8ySG-G4HJjGGdfUAcVmQjY
However, (and this is the Trump evil part) when Obama did it he did so for workers only (and just cut it to 2%), Trump wants to cut the payroll tax for businesses as well which, as with his tax scheme, would flow directly to the top 0.1%. That is really his end goal here. He couldn't care less about workers, he wants to give corporations another massive windfall and continue to inflate the stock market.
www.salon.com/2020/07/20/trump-threatens-to-veto-gop-relief-bill-unless-it-includes-payroll-tax-cut-that-favors-the-rich/?fbclid=IwAR013m6s4HbDO0s6TLylvRR3iSc-CJqbfnuyt8ySG-G4HJjGGdfUAcVmQjY
