My brain is still reeling from Steve Mnuchin proudly announcing the administration will seek a payroll tax cut for workers impacted by the coronavirus pandemic. Um ... If you are LAID OFF, YOU DON'T GET A PAYCHECK SO HOW IS A PAYROLL TAX CUT GOING TO HELP YOU??? Sorry to yell...
And another thing! A payroll tax cut does NOTHING for frealancers and other 1099/contract workers, who don't get a W2 so companies don't contribute to payroll taxes for them. When they get furloughed / laid off they get nothing. What's Mnuchin's fix for them???
This Trump/Mnuchin proposal -- which also would gut the funding for social security and Medicare -- is a farce. Federally funded paid time off, with the $ paid directly to workers, plus grants to impacted small businesses (like restaurants and bars) would actually help people.
Big businesses have a huge cushion already by the way: it's called the gargantuan $1 trillion Trump/Ryan/McConnell tax cut. Yet they are the ones pushing to the front of the line for a bailout. The mind reels...
Big businesses who whose pockets were already fattened up by the Trump tax cut trampling over bartenders, waitresses and janitors like...
