I told you last week this was coming.
Not many believed me.
Did you know that for a LONG time after America was founded, there was no Federal Income Tax?
It came MUCH later and many believe it to be unconstitutional or at the very least unneccessary.
And now one Donald John Trump just shot a dagger right through it's heart by declaring by Executive Order a payroll tax holiday (meaning no federal payroll tax) for anyone earning under $100,000 a year!
Holy crap folks, things just got REAL interesting!
You want to win an election?
This is how you do it.
And he has promised to make it permanent if he wins in November.
Do you know how many votes he just picked up?
Ok, but that was just one item in the Four Executive Orders.
Here's the full breakdown:
Watch him sign:
CNBC had a breakdown of all the details:
President Donald Trump on Saturday signed a series of executive orders expanding coronavirus economic relief to Americans struggling during the pandemic.
The president’s four orders extend unemployment benefits, provide a payroll tax holiday, defer student loan payments through 2020 and extend the federal moratorium on evictions.
Trump’s orders will quickly face a legal challenge, as continuing the programs would require federal funding, which Congress controls.
“We’re going to save American jobs and provide relief to the American workers,” Trump said at a press conference in Bedminster, New Jersey.
Trump said he will establish a payroll tax holiday through the end of the year to Americans earning less than $100,000 per year and instruct the Treasury Department to allow employers to defer payment of the employee portion of certain payroll taxes. However, there’s no guarantee workers will receive that money.
Trump added that if re-elected in November, he would look to extend the deferral and “terminate” the tax, which funds Social Security and Medicare programs.
The president’s orders also extend the weekly unemployment bonus at a reduced level of $400 per week, instead of the $600 per week federal unemployment insurance that was approved in March and expired at the end of July. Trump said states will need to cover 25% of the $400 weekly benefits.
Democrats have insisted they will not support a bill that does not extend the $600 per week benefit. Senate Republicans released a bill that would set the payment at $200 per week through September. Then, it would change to 70% wage replacement.
The White House previously offered a one-week extension of the $600 benefit and reportedly floated a $400 a week payment into December. Democrats refused the proposals.
“This is the money they need, this is the money they want, and this gives them a great incentive to go back to work,” Trump said on Saturday, referring to the $400 in jobless benefits.
Treasury Secretary Steven Mnuchin and White House chief of staff Mark Meadows previously said they would recommend that Trump take executive action after their coronavirus aid talks with Democratic leaders made little progress.
After relief discussions ground to a halt on Friday, the Trump administration wanted to show it could act without Congress. It could be part negotiating tactic and part political play: Trump aims to boost his fortunes in an election where his failure to contain the virus has hurt his chances of winning.
Officials in Washington have faced pressure to boost an economy wrecked by the pandemic and inject resources into a health-care system struggling to handle waves of infections.
The eviction moratorium also lapsed in late July. The combination of the two lifelines ending left millions wondering how they will afford food and stay in their homes.
And from ABC News:
President Donald Trump signed multiple excecutive actions one day after coronavirus relief negotiations fell apart in Congress.
Trump on Saturday signed a memorandum that is supposed to provide $400 a week for additional unemployment insurance benefits -- down from the $600 benefit that expired July 31. An executive order would extend a moratorium on evictions in addition to memoranda that would provide deferments for student loan payments and create a payroll tax holiday for those making less than $100,000 annually.
"Through these four actions, my administration will provide immediate and vital relief to Americans struggling in this difficult time," the president said from the signing at a news conference in Bedminster, New Jersey, on Saturday afternoon.
MORE: COVID relief bill: Negotiations reach breaking point, Trump plans executive order
It remains unclear what legal authority Trump has to enforce these actions.
He called the $400 unemployment benefit -- which Democrats had insisted remain at $600 -- "generous" and said he had intervened in the negotiations, in part, because Democrats had padded their bill with provisions that had nothing to do with coronavirus.
He said they were demanding "bailout money" for "states that have been badly managed by Democrats." He also said the bill included "measures designed to increase voter fraud" and "stimulus checks for illegal aliens."
Talks on a path forward for a COVID-19 relief bill collapsed Friday, with both parties leaving negotiations citing no measured progress toward an agreement and no plans for a future meeting.
Treasury Secretary Steve Mnuchin and Chief of Staff Mark Meadows had been in daily discussion with Speaker of the House Nancy Pelosi and Senate Minority Leader Chuck Schumer. Earlier this week, Mnuchin and Meadows set a deadline for an agreement to be reached by Friday.
Pelosi and Schumer criticized the use of executive orders in a press conference on Friday and said they were committed to negotiations.