The president is helping middle-class America
Donald Trump did an enormous favor for middle-class America last week. Thanks to his executive action to suspend payroll taxes, every wage and salaried worker in America with an annual income of less than $100,000 — including those who earn the minimum wage — will soon see a 6.2% raise in their paycheck from now until the end of the year.
Liberals are hypocritically complaining. Eight years ago when Barack Obama and Joe Biden enacted a payroll tax cut, they (and Nancy Pelosi) praised this policy as the best way to give a “boost” to workers during tough times. Now that Trump is implementing the tax cut, they say that it is “a war on Social Security” and that it is “not (a) real solution.”
This is called a double standard. A payroll tax cut is one of the quickest and most efficient ways to stimulate the economy. There are no administrative costs to distribute the money. The dollars go straight to workers and will be spent in the towns in cities across the country on Main Street USA.
Trump has the unquestioned legal authority during a time of emergency to postpone payment of this tax until the end of the year.
He has told Americans that if reelected, that tax will be forgiven so workers keep the money.
What about Joe Biden?
Will he force a big middle-class tax hike next year?
Trump’s other executive actions are designed to relieve financial stress on middle-class Americans. These include expanded unemployed benefits, restrictions on evictions from homes, and student loan repayment relief.
The courts will decide whether these orders are constitutional, but, ironically, each of these are policies that the Democrats favor.
The good news is that even while the two parties continue to squabble during this election season, Trump’s payroll tax cut is wisely getting money to workers who need the help right now.