Trump plan to scrap payroll tax would reduce benefits by 2021, top Social Security actuary says. [marketwatch.com]
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Feel free to reply to any comment by clicking the "Reply" button.While he can order IRS to stop the collection, there is considerable disagreement as to whether it is legal or not. He is not ending the liability to pay the taxes, he is merely delaying the collection of the taxes, so while you may receive a $ 20 pay increase in pay this year, it will equate to a $22-25 pay decrease next year as penalty and interest are added next year. No one is arguing that Trump can eliminate a tax, he is merely delaying the collection of the tax. He does not have the authority to abate the interest on underpaid taxes and by law penalties must be reviewed on a case by case level. So employers will be on the hook for all the amounts that they should have collected and the penalty and interest as well as the nightmare of who will be liable should an employee leave that employer during the collection holiday.
This is akin to the worst nightmare an accountant could have, A president that says one thing, a law that says another, an enforcement agency that says still another, employers that hear only what they want to hear, employees that don't understand any of this on a financial liability that affect millions of people.
glennlab
Level 10
Aug 30, 2020
2
Trump the "law and order" president doesn't care about laws.
Trump’s a Russian cluster f*ck weapon.
He put someone in charge of education that’s on a mission to privatize it.
He put someone in charge of energy that campaigned on dismantling the department.
This is actually a really long list ...
He sabotaged the post office and his solution is to sacrifice social security.
Willow_Wisp
Level 8
Aug 30, 2020
2
And still so many of his supporter's don't care about the truth. They're blinded by the 24/7 Trump infomercials like Fox "news" and their evangelical leaders. It's insane 
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