https://www.forbes.com/sites/shaharz.../#30ece2ac52d4
The interesting one (for me) is the "payroll tax holiday." It means people earning less than $104,000 per year will not have payroll taxes deducted from their paychecks from September through the end of the year. I'm definitely on board with tax reductions. The only problem here is that an executive order bypasses the congressional duty to balance income and expenditures.
In any case, 2020 is a year that will have reverberations for this country for decades to come. All of these stimulus measures may only result in hyper inflation for future generations.
(* some sources say $400 for unemployment)
Trump Signs Executive Orders: Extends Federal Unemployment Benefits *At $300 Per Week, Protects Against Evictions, Defers Student Loan Payments, Suspends Payroll Tax
With White House officials and Democratic leaders at an impasse over a coronavirus stimulus package, President Trump signed four executive orders Saturday at a press conference from his golf club in Bedminster, New Jersey. The legality of the executive actions is unclear as Congress, and not the President controls federal spending; however, Trump said he is “not at all” worried about this. The Trump administration will try to re-purpose up to $140 billion including $80 billion from money that hasn’t been spend from the CARES Act as well as $44 billion from the Disaster Relief Fund.
The four executive actions relate to unemployment benefits, payroll taxes, rental foreclosures, and student loans...
With White House officials and Democratic leaders at an impasse over a coronavirus stimulus package, President Trump signed four executive orders Saturday at a press conference from his golf club in Bedminster, New Jersey. The legality of the executive actions is unclear as Congress, and not the President controls federal spending; however, Trump said he is “not at all” worried about this. The Trump administration will try to re-purpose up to $140 billion including $80 billion from money that hasn’t been spend from the CARES Act as well as $44 billion from the Disaster Relief Fund.
The four executive actions relate to unemployment benefits, payroll taxes, rental foreclosures, and student loans...
The interesting one (for me) is the "payroll tax holiday." It means people earning less than $104,000 per year will not have payroll taxes deducted from their paychecks from September through the end of the year. I'm definitely on board with tax reductions. The only problem here is that an executive order bypasses the congressional duty to balance income and expenditures.
In any case, 2020 is a year that will have reverberations for this country for decades to come. All of these stimulus measures may only result in hyper inflation for future generations.
(* some sources say $400 for unemployment)
Comment