Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

CousinIT

(9,209 posts)
11. Uh. THIS one SPECIFICALLY "defers" the employer part of the FICA tax (social security)
Thu Mar 26, 2020, 01:45 PM
Mar 2020

It lets corporation "defer" paying their 6.2% share - for TWO YEARS.

EDIT to add: And making up the difference from the general fund subjects this self-funded source to CUTS.

I'm aware of the "pay half by end of 2021 and other half by end of 2022" arrangement. That doesn't mean they'll DO it - likely they'll beg to have the cut made permanent - or at least not have to pay it back.

YOU trust corprats and Republicans? I do NOT.

This is and will remain a nasty huge backdoor CUT to Social Security during a World pandemic, buried in a "stimulus" bill by REPUBLICANS.

Don't be gullible.

And don't be obtuse. OF COURSE IT DOESN'T CUT BENEFITS TODAY. But it will cause cuts to have to be put in place SOONER because the trust fund will lose BILLIONS and not be able to pay full benefits anymore - already slated to happen 2033. With this CUT, it will likely happen much sooner.

Latest Discussions»General Discussion»And THERE is the massive ...»Reply #11