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Why do democrats oppose Trumps payroll tax holiday?
Payroll tax is about 14%, employer pays half, employee pays half. Those who are self employed pay the whole 14%.
In 2010, Obama proposed to cut payroll tax rates, and democrats thought it was a swell idea. Today, Trump wants to temporarily eliminate the tax, and the democrats are vehemently opposed, though i didn’t see any articles that specified why. A payroll tax holiday would boost everyone’s take home pay, especially those who are self employed. There are some things big sides agree on, like some kind of income protection for those who can’t work from home. Glad no one disagrees on that. |
Again the 2 are not remotely the same...
And the 2 rationaleis are even further apart |
Quote:
answering my question. in both cases, cutting payroll taxes was proposed to help bolster the economy. Are you suggesting that cutting this tax makes sense to offset the large scale effects of a recession caused by mortgage defaults, but cutting the same tax isn’t likely to help bolster an economy hurt by a virus? Id be very happy to hear you explain that. Posted from my iPhone/Mobile device |
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