What is the federal payroll tax for Social
Security Medicare trump wants to slash?
Payroll taxes are taken from both employers
and workers to help fund government programs such as Social Security and
Medicare. Currently, employers and workers each pay 6.2% towards Social
Security, or 12.4% total. The Social Security payroll tax phases out
for incomes above $137,700.
trump's 10.6 Million Jobs Stat Masks a
Complex, Weak Unemployment Picture
BY BRENDAN COLE ON 9/11/20 AT 4:27 AM EDT
https://www.newsweek.com/trump-jobs-unemployment-stat-coronavirus-1531139
Fact check:
trump doesn’t outperform other presidents
despite 2 months of strong job gains
Katie LandeckUSA TODAY
The unemployment rate now is11.1%. In
April, it was 14.7%, dropping in May to 13.3%. To put that in perspective,
the unemployment rate spiked at 10% during the Great Recession and 10.8% in
June 1983. And despite jobs regained, the country is still down nearly 15
million jobs compared to February.
The number in the claim “no president in
American history averaged higher than 224,000 jobs in one month” may come from
a CNN report in February that examines Trump and former President Barack
Obama's jobs numbers. It compares Trump's first three years in office with
Obama's final three years, finding that employers added an average 224,000 jobs
in those Obama years.
What's True
On Aug. 8, 2020, U.S. President Donald
Trump said he intended to "terminate the tax," referring to Social
Security and Medicare payroll taxes. It's a step that would — if taken in
isolation — remove nearly 90% of funding for Social Security benefits, and thus
likely pose a threat to the continued existence of those programs.
What's False
In the same remarks, Trump also articulated
different and conflicting plans for payroll taxes, saying variously that he
would forgive four months' worth of deferred payroll tax obligations, that he
would extend the deferral of payroll tax obligations, and that he would
permanently "cut" payroll taxes.
What's Undetermined
It's unknown whether Trump had a plan to
replace the shortfall in Social Security funding in the event that he
eliminated payroll taxes.
Love and blessings from
Creator to You All
Shechaim Ohjieshan
“Real change, enduring change happens one
step at a time.”
Ruth Bader Ginsburg
Whoopi
said,
“Don’t get scared,
It’s your country, take it back”!
Elijah
Cummings
said;
“This is our Watch”!
John Robert Lewis
"Good Trouble"!
(“Never Give Up”! – “Never
Give In”! – “Always Keep The Faith”)!
John Lewis’ Last Words
