Is It Time for a Payroll Tax Cut?

by: Brent Smith

I ask everyone to read this or any article on the proposed Trump Payroll tax cut with a large grain of salt. By that I mean you must read between the lines, as everyone has an agenda – good or bad.

The bottom line to consider is that a tax cut – any tax cut, is good for America and bad for government. It “allows” the people that pay the tax to keep more of their own money. This effectively shuts the government out of the equation, and they don’t like that. It’s why pundits, bureaucrats and politicians alike hate the idea.

They would much prefer to give “targeted” relief. This merely means that, as always, they will be the ones to pick the winners and losers.

A payroll tax cut positively affects both employees and employers. Many employers may even opt to add their portion of the cut to the employee’s salary, increasing take-home pay even more.

However, Trump wants to go even further by suggesting a suspension of all Payroll taxes for the balance of the year. This, I can assure you, will NEVER sell on Capital Hill.

All the government hacks in Washington understand something crucial that the general public likely does not. They understand that reinstituting this tax after people have gotten used to not paying it, would end in a citizen revolt. It’s why withholding was devised in the first place. What the public doesn’t see, won’t upset them.

But if they get a taste of reality – of an expanded paycheck, they’ll be hard-pressed to give it up.

from Forbes:

After Coronavirus-Fueled Stock Market Drop, Trump Considers Payroll Tax Relief

Stocks are expected to rally today after a historic drop on Monday. Concerns over the price of oil (thanks to a price war between Russia and Saudi Arabia) and how the coronavirus will further affect the global economy sent shares tumbling by 2,013 points: the most significant point drop since Dow began recording stock averages in 1884. read more

When Was The Real First Thanksgiving? That Depends

On October 3, 1789, America’s first President under the 1787 Constitution, George Washington, issued a historic Thanksgiving George Washington's Thanksgiving ProclamationProclamation.  Congress had instructed him to “recommend to the People of the United States a day of public thanksgiving and prayer to be observed by acknowledging with grateful hearts the many signal favors of Almighty God.”  This he did.  Many consider this the nation’s first Thanksgiving Proclamation.  But was it?  Well, that depends.

There had been many previous days of a general giving of thanks in America’s history, some bearing little relation to our present holiday.  Many took place long before America was a country, under the reign of the monarchs of England.   read more

Hooray! Hank Williams Jr Back on Monday Night Football

from Forbes:

Are you ready for some football? Apparently, Walt Disney-owned ESPN is again.

Six years after dropping Hank Williams Jr.’s adaptation of All My Rowdy Friends as the introduction to Monday Night Football, the sports network is bringing it back, beginning with the first MNF game this fall between the New Orleans Saints and Minnesota Vikings.

“I think it’s a return to our past in that it’s such an iconic song associated with football,” ESPN senior vice president of events and studio production Stephanie Druley told The Tennessean. “It was the original. It belongs to Monday Night Football. It really is about returning to what fans know. It’s a Monday night party, and that’s what we’re all hoping to get back to.” read more