President Donald John Trump’s uninterrupted winning streak continues at full speed. Every lemon that is thrown at the man is turned into a sparkling glass of ice-cold lemonade, which can be sold for a profit on a hot summer day in order to benefit everyday Americans.
It is amazing to watch him overturn the post-World War II order as the globetrotting elites who profited from a rigged system for decades howl with rage at this… this invader, this BAD ORANGE MAN who is ruining everything! Trump has now eliminated the payroll tax for employers and employees, for the rest of 2020, and everyone should be positively delighted about this.
First, what does this mean for the everyday working American? It means no withholding on worker paychecks from September 01 through the end of the year. Workers making less than $100,000 will get to keep all of the money that they earn. Likewise, employers don’t have to chip into social security or Medicare for employees for those four months. Independent contractors and people who pay their own taxes will get a tax reduction of 1/3 for 2020.
In other words, President Trump (or as I like to think of him: NUMBER 5 on Mt. Rushmore) has passed a sizeable and immediate tax cut for all working Americans, small business owners and independent contractors for the rest of the year. And he wants to make the payroll tax cut permanent.
Before anyone panics and decides that Trump is planning an evil Hitler plot to eliminate social security, let’s take a couple of steps back and examine this more closely. People have been complaining that social security is “broke” and will be bankrupt in “just a few years” for my entire life. I remember one of my uncles complaining about this when Jimmy Carter was in office. Yet in the five decades since everyone has been complaining about social security being broke, no one in Congress or in the White House has ever done anything to fix the problem.
The DC establishment is notorious for looking at government problems that have been around for years and saying, “Well, we’ve always done it this way, so we should continue to throw taxpayer money down this rathole in perpetuity!”
In addition to his ability to throw his enemies into fits of rage using his Twitter feed, one of President Trump’s greatest gifts is that of an innovator. He looks at problems that have been problems for generations and asks, “Isn’t there a better way to do this?” This is probably really unsettling if you’ve been in Washington, DC for decades and the old system has allowed you to get your cocaine-snorting offspring a cushy no-show job for a Ukrainian gas company.
But the rest of us should look at the visionary questions that Trump is asking and think, “Yeah, why don’t we try something different which doesn’t involve all of us out in real America getting shafted?”
NATO is the perfect example of this concept. NATO was formed after World War II as a defense pact against a rising Soviet Union. That same Soviet Union ceased to exist 30 years ago, but the American taxpayers continued to fully fund Europe’s defense against a non-existent threat for decades – until Trump came along and asked, “Why do we even have a NATO still?” Three years later, Europe is paying for their own defense and the American taxpayers are better off.
Trump actually likes the social security system in concept. It’s a safety net for low income Americans that is very popular with most people. But he’s now looking at the broken system and asking once again, “Hey, why are we still doing things this way?”
If he doesn’t want to keep propping the system up by sucking the wealth out of the middle class, it suggests that Trump has some other grand strategy in mind that he has not shared yet. Everyone knows that social security has problems, so Trump is now looking at creative solutions. What are they? Who knows? Tariffs are one possibility.
If tariffs make the price of consumer goods go up, so what? Everyone who is working will be able to afford them because they’re keeping all of their money. I have to cut gigantic checks to the IRS every year due to the nature of my work. Hyuuuge checks. Disheartening checks. Checks that are so big, they make me want to get drunk, put on an Antifa shirt and go burn down the tax collector’s building in a peaceful protest.
So, if President Trump wants to come up with a new way to fund this system that has been dysfunctional and basically bankrupt for my entire lifetime, I am all ears. And let’s not kid ourselves: He’s the only one who can get it done.