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Trump’s payroll tax order throws businesses into chaos: report

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Donald Trump (Olivier Douliery:AFP)

On Thursday, Politico reported that President Donald Trump’s order deferring payroll taxes have thrown businesses into uncertainty, by imposing a dilemma on them.

“Treasury Secretary Steven Mnuchin said on FOX Business that President Donald Trump’s executive action to offer a temporary payroll tax deferral for those making under $104,000 per year would be ‘voluntary’ and up to employers,” reported Ben White and Aubree Eliza Weaver. “That presents an enormously difficult decision for employers who could either decline to give their workers an immediate pay bump or later be forced to claw that money back if the taxes are not forgiven.”

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The problem is that the average worker may not understand that this is a deferral — and thus the necessity of clawing back the income later could trigger discontent and financial problems.

“The current payroll tax deferral is largely going to be ineffective and is going to create a lot of problems down the road,” said Guggenheim Global CIO Scott Minerd, who supports a payroll tax cut. “People like you and I understand this is a deferral and we may have to pay it back. … But the average American may not understand that. So when it comes time for employers to recapture the tax it’s going to be a massive problem. What will happen is Congress will get boxed in and they will have to forgive it, which is not fiscally sound.”

The payroll tax deferral was one of four executive actions the president took as stimulus talks have broken down with Congress. Other actions seek to delay evictions and student loan payments, and partially extend unemployment benefits.


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2020 Election

That was no debate — it was a brawl

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Do we really have to pick a debate winner in a brawl? Do the rules matter?

Didn’t we know ahead of time that Donald Trump would slash viciously and personally and pretend that he is an outsider to Washington and that Joe Biden would try to look presidential,  mostly stick to his message while wryly noting that Trump was lying once again? If there was a substantive question or response that was a surprise, it slipped by me.

It may have been important to election prospects, but as a debate, it was a pretty sad commentary on our times. And yes, the fact-checking industry was hard at work (yes, Mr. President, there are 100 million Americans with health pre-conditions.)

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Here are 5 stunning moments from Biden and Trump’s first debate

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President Donald Trump and former Vice President Joe Biden faced off for the first time Tuesday night in the inaugural presidential debate of the 2020 general election.

It was a catastrophe. Trump was belligerent, mendacious, and overbearing, refusing to let Biden answer questions most of the time without interruption. Biden managed to get in several good moments, but he was often bulled over by the president's bluster and was unable to make a complete argument.

But Trump didn't really seem to get the better of Biden. By being so aggressive, he came off desperate, dishonest, and out of control. It was not a good look for a sitting president. And it completely undermined the supposed point of the debate: informing voters about the issues. Instead, it showcased the candidates' respective personalities, at least to some degree. While unpleasant, it may have been informative in its own way.

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Trump blasted for ‘avalanche of lying’ in brutal takedown by CNN fact-checker

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CNN fact-checker Daniel Dale provided a brutal dose of reality after President Donald Trump constantly mislead Americans with his false claims during the first 2020 general election presidential debate.

CNN's Wolf Blitzer introduced Dale by recapping that, in his opinion, "clearly this debate was an embarrassment for the United States of America -- a clear embarrassment."

"How much was fact?" Blitzer asked. "How much was false?"

"Well, it depended Wolf on who we were listening to," Dale replied.

"I think it's important for us as journalists to say when both sides are not alike -- and they were not alike tonight," he explained.

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