Kudlow says Trump wants large payroll tax cut to ease economic pain

[Yo_Mama_Been_Loggin]

White House economic adviser Larry Kudlow said Tuesday that President Donald Trump wants to see a 7.6% cut in the U.S. payroll tax, hoping it will help staunch economic pain caused by the pandemic.

"I know the president wants to see those folks that go back to work to get a 7.6% cut in their payroll tax, so their after-tax take-home pay goes up," Kudlow said in an interview with Fox Business Network.

Trump is looking to the tax code to help the economy regain ground lost when states shut down virtually all economic activity in hopes of containing the spread of the novel coronavirus. Kudlow said those steps could include a payroll tax holiday, a capital gains exclusion for several years, and a tax deduction for business spending at restaurants.

The president is also considering incentives for companies to move back to the United States, which Kudlow termed "onshoring," primarily full expensing for return moves, a cut in the corporate tax rate, and a targeted tax credit.

https://www.msn.com/en-us/money/markets/kudlow-says-trump-wants-large-payroll-tax-cut-to-ease-economic-pain/ar-BB14j2N9?li=BBnbfcN

So we can bankrupt Social Security quicker

[DonCoquixote]

1. Kudlow, mr Tariffs are bad Kudlow?

Kudlow, go back to what you do best, which is act like an idiot on tv and do cocaine.

[Iliyah]

2. No . . .

[JHB]

3. More items from conservative think tanks' wish lists

[Thomas Hurt]

4. I don't get this....

1. if you are unemployed it doesn't help.
2. it doesn't change your tax rate so you will just have less of a refund or owe money.

WTF is the point. Aside from crippling SS.

[The Magistrate]

5. It Is A Try At Wrecking Social Security, Sir

Everyone knows this, especially old-line right-wing shit-heels like Kudlow....

[louis-t]

6. Isn't it funny how repugs don't care about debt

when they're in charge?

[Turbineguy]

7. And move the pain to future retirees.

Who they hope will all be dead by then.