TRUMP IS ENDING THE INCOME TAX

>no more taxes
>meaning either we completely gut the government's budget or it runs out of money and collapses and we have full anarchy
i guess trump was a liberal all along huh

btw anyone who still supports the retard is an even bigger retard

I'm sure it will trickle down though, right?

this will be bad for labor without corresponding wage/salary increases, since this tax is payed by the employer. This is not income tax. And no, the vast majority of labor will not get pay raises out of this.

Reagan dramatically boosts payroll tax, wages get slashed vs cost of living. Trump cuts payroll tax, wages stay the same but the public lose services. Such is the life of the wagecuck.

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Thats the most based and anti liberal thing ever.
liberals want to tax you so hard that you need to rely on government you absolute retard.

Oh of course, we'll all be praising our president soon enough!

Taxes BTFO. This is a big boost, implying employers don't gut wages in response

"Perhaps one of the best-kept secrets of payroll taxes is that employees effectively pay almost the entire payroll tax, instead of splitting the burden with their employers.

This is because tax incidence is not determined by law, but by markets. In fact, the person who is required to pay a tax to the federal government is often different than the person who bears the tax burden. Usually, the marketplace decides how the tax burden is divided between buyers and sellers, based on which party is more sensitive to changes in prices (economists call this “relative price elasticities”).

It turns out that the supply of labor – that is, workers’ willingness to work – is much less sensitive to taxes than the demand for labor – or employers’ willingness to hire. This is because workers who need a job are not as responsive to changes in wages, but businesses are able to “shop around” for the best workers or shift production to different locations. The graph below roughly illustrates how the labor market distributes the payroll tax burden. The fact that the labor supply line is steeper than the labor demand line is a way of showing that workers are less sensitive to changes in wages than employers."

taxfoundation.org/what-are-payroll-taxes-and-who-pays-them/

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KEK

imagine still following this religion after you're 20

deliver my food wagie! i'm hungry!

I dont get how anyone is defending trump. The virus was his fault and the economy is his fault

Why do they need us to pay taxes if the fed can print infinite money without consequence? Hello?

bigsolution.org/

were in the midst of an unemployment crisis and a stock glut. Cutting corporate taxes will not raise wages, but it will keep the stock market moving for a little longer before collapse, since what would have been taxed can be funneled into dividends to keep shareholders happy. Eventually shareholders are gonna mass exodus into hard assets when dividends and growth fail to keep up.

>this helps corporations, not workers

It's amazing how financially illiterate people on Zig Forums are.

Payroll taxes are almost entirely paid by workers. Corporations bake their payroll tax obligations into lower wages offered to workers. Further, the FICA cap means that not only are payroll taxes paid by workers, but they disproportionately hit lower-paid workers, since income above $130,000 or so isn't taxed.

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Your mom shoulda aborted you

this

payroll tax in theory puts some of the workers tax burden on the company but the company still fucking pays the workers salaries

all payroll taxes did was reduce the workers tax while ALSO reducing their salaries, it made no difference what so ever in the end

>The virus was his fault

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So theoretically if income tax is indeed canceled, I should withdraw all my crypto purchased within the last year, right? Because less than a year holding = short term gains and gets counted as income tax, right? And then just put it right back into crypto with zero cost basis?

these niggers better roll out the stimmy bux soon cuz i need to buy more gold with money i didnt work for

>China has a lab accident and looses a bioweapon on the world
>shuts off the epicenter city to the rest of China, literally blocks roads in and out of city with piles of rocks
>international flights continue uniterrupted

>entire world gets rekt by virus
>that includes the United States
>NY, anticipating full hospitals and a hideous death toll among the elderly, callously orders sick patients into nursing homes in order to free up hospital beds for younger healthier people
>overwhelmed hospitals never materialize, instead thousands of elderly are killed
>NYC doesn't even clean their subways until May, let alone stopping them
>20% of all US deaths are in NY

>damn you, drumpf!

that settles it, i'll vote for the cheeto

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>"Perhaps one of the best-kept secrets of payroll taxes is that employees effectively pay almost the entire payroll tax, instead of splitting the burden with their employers
but is your point that the tax burden will be lifted off of workers? cuz it sure isnt.

Jesus fucking christ bro just buy a few Bitcoins

no user it wont. they will literally pocket the money and your pay stays the same as if they paid your tax for you when they pay you.

>i fucking hate this president
That's a weird way of spelling "congress"

pure leftism is full on anarchy you education-let

WRONG you brainlet
Employees will see about a 7% raise in their checks if Trump goes through with this.

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is there anyone still supporting this faggot? He obviously not looking out for u

u absolute nigger. payroll...

>pure leftism is full on anarchy you education-let

lmao what

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When will I get another stimmy I need more ARPA