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Trump says he’s ‘thinking about’ a payroll tax cut — a day after the White House denies it

Chomsky

Chomsky

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President Donald Trump on Tuesday said he was “thinking about” cutting payroll taxes, less than a day after the White House denied that a payroll tax cut was under consideration.

“Payroll tax is something we think about, and a lot of people would like to see that, and that very much affects the workers of our country,” Trump told reporters at the White House.

Trump went on to say that he has “been thinking about payroll taxes for a long time” — and he cautioned that “whether or not we do something now, it’s not being done because of recession.”
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Source: (CNBC) Trump says he’s ‘thinking about’ a payroll tax cut — a day after the White House denies it

Upon reading the article headline, the very first & immediate thought that flew into my my mind - was:

"Who is going to pay for this, and how?"

I think it's an extremely salient question!
 
Chomsky said:
Source: (CNBC) Trump says he’s ‘thinking about’ a payroll tax cut — a day after the White House denies it

Upon reading the article headline, the very first & immediate thought that flew into my my mind - was:

"Who is going to pay for this, and how?"

I think it's an extremely salient question!
Click to expand...

It's a fair question. I see all the citizens of Trump Fan Nation on here howling like scorched cats about "who's going to pay for (insert Democratic candidate's idea here)?"

Why do we need a payroll tax cut stimulus anyway? I keep getting told that this is the best economy ever, ever, in like history.
 
"whether or not we do something now, it’s not being done because of recession."

Yeah, right. He's already got us borrowing over a trillion a year. What's a few hundred billion more? They can always blame "the left" for whatever happens.
 
tres borrachos said:
It's a fair question. I see all the citizens of Trump Fan Nation on here howling like scorched cats about "who's going to pay for (insert Democratic candidate's idea here)?"

Why do we need a payroll tax cut stimulus anyway? I keep getting told that this is the best economy ever, ever, in like history.
Click to expand...

Republicans during the worst economic downturn since the great depression: Cut spending! Hyperinflation will be here any day now!

Republicans now: Stimulus during a period with "the best economy ever"

:lol:
 
If it happens, be prepared to pay back 3 times as much down the road out of your check like a payday loan.
 
The Trump anti-brigade's general sentiment is that we are headed for a recession. At least that is what I have been reading lately from them.
Whether they base this on mere wishful thinking or something they heard on MSNBC or the like, wouldn't they be for a payroll tax cut in that it might reverse a weakening economy?


Oh but that big meanie Trump said... :lol:
 
Memestrels said:
Republicans during the worst economic downturn since the great depression: Cut spending! Hyperinflation will be here any day now!

Republicans now: Stimulus during a period with "the best economy ever"

:lol:
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But hey, it's working. The drooling Trump fans and Republican supporters are chanting along with whatever mantra their leaders tell them to.

The ignorance from the right is astounding.
 
Chomsky said:
Source: (CNBC) Trump says he’s ‘thinking about’ a payroll tax cut — a day after the White House denies it

Upon reading the article headline, the very first & immediate thought that flew into my my mind - was:

"Who is going to pay for this, and how?"

I think it's an extremely salient question!
Click to expand...

Future generations are going to pay for it and how need not be addressed (yet) - since future generations can't vote (yet) it will be politically popular just like it was when Obama did it.
 
Mr Person said:
"whether or not we do something now, it’s not being done because of recession."

Yeah, right. He's already got us borrowing over a trillion a year. What's a few hundred billion more? They can always blame "the left" for whatever happens.
Click to expand...

Yep, borrowing more is only bad when "they" are in power.
 
tres borrachos said:
It's a fair question. I see all the citizens of Trump Fan Nation on here howling like scorched cats about "who's going to pay for (insert Democratic candidate's idea here)?"

Why do we need a payroll tax cut stimulus anyway? I keep getting told that this is the best economy ever, ever, in like history.
Click to expand...

In their heads loss of revenues from tax cuts are OK, they do not contribute to the deficit.
Clearly the Borg have arrived

View attachment 67262218
 
trixare4kids said:
The Trump anti-brigade's general sentiment is that we are headed for a recession. At least that is what I have been reading lately from them.
Whether they base this on mere wishful thinking or something they heard on MSNBC or the like, wouldn't they be for a payroll tax cut in that it might reverse a weakening economy?


Oh but that big meanie Trump said... :lol:
Click to expand...
Tax cut is fine. Paying for it, is the problem. If Trump can show me how he is going to pay for it, I might stand behind him.

But first he needs to balance the budget. We're worse than going broke. We are broke & in debt! That's no time to cut income & go even deeper.
 
bad idea. that's a tool to be used during a serious recession. if he expends all of our tools in advance, how will we address a recession when it comes?
 
ttwtt78640 said:
Yep, borrowing more is only bad when "they" are in power.
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You borrow during recessions, and spend your way out. Then when the economy turns the corner, you take the greater generated revenues to pay-off the debt to build a cushion for the next downturn. This is Econ 101. And it is how you maintain a more moderate & steady economy, rather than have the sharp pendulum swings that causes great havoc & misery upon society.

Trump is doing the exact opposite! It makes no sense at all, and he's going to doom us during the next recession, and I assure the 'next recession' will indeed come. Trump is setting us up for inevitable economic shambles, here!
 
Helix said:
bad idea. that's a tool to be used during a serious recession. if he expends all of our tools in advance, how will we address a recession when it comes?
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Exactly. And just as importantly, how is Trump going to fund the current social programs that the payroll taxes support?
 
Chomsky said:
You borrow during recessions, and spend your way out. Then when the economy turns the corner, you take the greater generated revenues to pay-off the debt to build a cushion for the next downturn. This is Econ 101. And it is how you maintain a more moderate & steady economy, rather than have the sharp pendulum swings that causes great havoc & misery upon society.

Trump is doing the exact opposite! It makes no sense at all, and he's going to doom us during the next recession, and I assure the 'next recession' will indeed come. Trump is setting us up for inevitable economic shambles, here!
Click to expand...

Yep, that must be why the federal deficit went up during Obama's "post recovery" last two years in office. Like I said, deficit spending is fine so long as "they" aren't in power. Besides, we have a demorat majority of fiscally responsible folks in the House now - this level of senseless borrowing and spending could never pass into law.
 
Chomsky said:
Exactly. And just as importantly, how is Trump going to fund the current social programs that the payroll taxes support?
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he won't. then it will be time to argue that the programs are so insolvent that they can't be saved, and therefore must be privatized. just for those under fifty or so, though, of course.
 
ttwtt78640 said:
Future generations are going to pay for it and how need not be addressed (yet) - since future generations can't vote (yet) it will be politically popular just like it was when Obama did it.
Click to expand...
No there's a plan! :doh
 
Mr Person said:
"whether or not we do something now, it’s not being done because of recession."

Yeah, right. He's already got us borrowing over a trillion a year. What's a few hundred billion more? They can always blame "the left" for whatever happens.
Click to expand...

Its hilarious that we might not have made the connection to recession if he hadn't said it wasn't about recession. Now we know that's exactly why he's considering it.

A little fake juice for the economy. On credit.
 
Chomsky said:
Source: (CNBC) Trump says he’s ‘thinking about’ a payroll tax cut — a day after the White House denies it

Upon reading the article headline, the very first & immediate thought that flew into my my mind - was:

"Who is going to pay for this, and how?"

I think it's an extremely salient question!
Click to expand...
It's just candy for the uninformed.

Sorry to say, but lots of people have the mentality of "let the other guy pay taxes", and there isn't a tax cut the public got that they've ever said no to, even if they know the tax cuts are irresponsible and are simply passing our debt to the future - which is immoral.

It's like if everyone got a mint BMW for $3000. Sure, it would be cool, but we'd all be thinking "this company is stupid, they're going to go bankrupt!", and yet that's exactly what America does with taxes. We demand to pay absurdly low prices for quality government, which just isn't possible.
 
Helix said:
he won't. then it will be time to argue that the programs are so insolvent that they can't be saved, and therefore must be privatized. just for those under fifty or so, though, of course.
Click to expand...
Very possibly. Cutting social programs has long been the Republican dream!
 
Chomsky said:
Very possibly. Cutting social programs has long been the Republican dream!
Click to expand...

yep, pretty much from the beginning, through "wither on the vine," and now, "insolvency." there's always plenty of money for trickle down, though.
 
Memestrels said:
Republicans during the worst economic downturn since the great depression: Cut spending! Hyperinflation will be here any day now!

Republicans now: Stimulus during a period with "the best economy ever"

:lol:
Click to expand...

Ass backwards as usual.
 
MovingPictures said:
It's just candy for the uninformed.

Sorry to say, but lots of people have the mentality of "let the other guy pay taxes", and there isn't a tax cut the public got that they've ever said no to, even if they know the tax cuts are irresponsible and are simply passing our debt to the future - which is immoral.

It's like if everyone got a BMW for $30000. Sure, it would be cool, but we'd all be thinking "this company is stupid, they're going to go bankrupt!", and yet that's exactly what America does with taxes. We demand to pay absurdly low prices for quality government, which just isn't possible.
Click to expand...
Good line there in the bolded. I very much agree.

We can't forget that for working people, and most of our children will be that for at least part of their lives, money = time & labor. We are additionally enslaving our children to many hours of labor, needlessly.

Just like in real life, paying interest on debt is a worthless losing proposition.
 
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