General Discussion

yellowdogintexas

(23,776 posts)

34. It shouldn't make a difference on your Federal tax return because

Sun Aug 9, 2020, 10:58 AM

Aug 2020

those taxes are not deductible if you itemize. What it will do is at a minimum stunt the growth of the SocSec fund and then the fund will run out. Current beneficiaries will see their monthly payment reduced over time and eventually there will be no money.

I suspect all hell is going to break loose over this, and all these people who are doing those great videos will tear up jack

He is really cutting off his nose to spite his face because it should cause him to lose the elder vote.

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Payroll Tax Cut Most horrifying decision ever [View all] MaryMagdaline Aug 2020 OP

Yup SheltieLover Aug 2020 #1

Yes. Biden camp needs to jump on this with Trump Defunds MaryMagdaline Aug 2020 #3

Absolutely! SheltieLover Aug 2020 #7

And they earned it not fooled Aug 2020 #35

Right! SheltieLover Aug 2020 #49

Republicans have been working toward this for 85 years. BKDem Aug 2020 #2

Yes they have. They finally got a president evil enough and stupid enough to do it MaryMagdaline Aug 2020 #4

They sure have! SheltieLover Aug 2020 #8

They fought FDR True Blue American Aug 2020 #40

On live TV shithole told the world that he will . . . . Iliyah Aug 2020 #5

Unbelievable MaryMagdaline Aug 2020 #6

And class warfare! SheltieLover Aug 2020 #9

Yes! Social security is all most people have MaryMagdaline Aug 2020 #27

Sadly yes DownriverDem Aug 2020 #41

Sure do! SheltieLover Aug 2020 #53

Right! SheltieLover Aug 2020 #51

How does most of the media respond? "trump acts because congress didn't people will get checks!" mucifer Aug 2020 #10

Unbelievable MaryMagdaline Aug 2020 #11

It's not a tax cut. It's a tax postponement. And they'll undoubtedly charge all of us interest. Squinch Aug 2020 #12

How long is the postponement or do we know? MaryMagdaline Aug 2020 #13

I presume until you go file your taxes. LisaL Aug 2020 #18

Got it. Thanks! MaryMagdaline Aug 2020 #23

It shouldn't make a difference on your Federal tax return because yellowdogintexas Aug 2020 #34

Yes. In a normal world this would be the death knell to anyone's campaign MaryMagdaline Aug 2020 #37

It actually may. Ms. Toad Aug 2020 #52

Although be careful about funding Social Security out of the General Fund not fooled Aug 2020 #59

This would be solely for the period from September through December. Ms. Toad Aug 2020 #60

Yes. Evil and stupid scheme MaryMagdaline Aug 2020 #65

From what I have read it comes due Jan 1 2021. Payable on April 15, 2021 LiberalArkie Aug 2020 #20

Thank you! MaryMagdaline Aug 2020 #24

Through the end of the year. whopis01 Aug 2020 #63

Biden will not force people to pay it. He'll make soc security whole by taking money CousinIT Aug 2020 #67

So you are saying that we have to pay it all back in a few months? fescuerescue Aug 2020 #19

Yep. Exactly. Squinch Aug 2020 #56

It's not a tax cut, Trump can't do that, it's a deferred payment. CaptainTruth Aug 2020 #14

Thank you! Another scam MaryMagdaline Aug 2020 #30

Trump just lost Florida duforsure Aug 2020 #15

I can only hope MaryMagdaline Aug 2020 #31

This is a typical mob tactic. gordianot Aug 2020 #16

The EOs themselves... MrModerate Aug 2020 #17

McConnell was installed in office, Scarsdale Aug 2020 #21

And he finally got the Fox News brainwashed elderly he needs MaryMagdaline Aug 2020 #25

how ironic is it that probably 50 to 60 percent of KY voters depend heavily yellowdogintexas Aug 2020 #36

I remember a few years ago Scarsdale Aug 2020 #46

Kudlow said this morning that it will have to be paid back unless trump steps in. Hoyt Aug 2020 #22

I'm no longer sure the country will even last until January 2021. Lonestarblue Aug 2020 #26

No need to apologize. You've eloquently and logically described stark reality MaryMagdaline Aug 2020 #28

I'm afraid of the time *after* elections durablend Aug 2020 #33

Sobering thought shanti Aug 2020 #68

Death by a thousand cuts. The only upside is this may be the final cut to end of Trump Fla Dem Aug 2020 #29

Hoping this wakes up the elderly. I'm 61 and awake all night MaryMagdaline Aug 2020 #32

St Johns here. Fla Dem Aug 2020 #66

its not a tax cut SiliconValley_Dem Aug 2020 #38

So we all get a SSA balloon payment taken out of Our paychecks on Jan 1 2021.... Tommymac Aug 2020 #39

Just like we had to repay Bush's True Blue American Aug 2020 #42

i live in a 40 unit lo income /seinior/ disabled apartment complex, AllaN01Bear Aug 2020 #43

Hopefully they will get it MaryMagdaline Aug 2020 #61

You had better get a tax attorney. roamer65 Aug 2020 #44

Yes. MaryMagdaline Aug 2020 #50

My advice to employers. roamer65 Aug 2020 #45

Just texted my two partners. We are in agreement to pay no matter what MaryMagdaline Aug 2020 #47

Agreed MaryMagdaline Aug 2020 #48

Schumer said this morning most employers Big Blue Marble Aug 2020 #54

Great idea! MaryMagdaline Aug 2020 #55

So, they can make it all become due on Joe's watch. Baked Potato Aug 2020 #57

Yep. Poison pill for next administration MaryMagdaline Aug 2020 #58

Also, it will appear as though Biden and Democrats raised taxes ecstatic Aug 2020 #62

Agreed. This seems to be their plan MaryMagdaline Aug 2020 #64