Village News - Also serving the communities of De Luz, Rainbow, Camp Pendleton, Pala and Pauma

By Zachary Stieber
The Epoch Times 

Deferring or cutting payroll tax won't affect Social Security, Trump says


Last updated 8/13/2020 at 3:58pm

Deferring the payroll tax or permanently cutting it won’t affect Social Security, President Donald Trump told reporters, Monday, Aug. 10.

“What we’re doing is we reimburse through the general fund, not through Social Security. This will have no impact on Social Security,” Trump said before departing Morristown Municipal Airport in New Jersey.

The payroll tax is typically paid by employers with money they withhold from workers. Social Security, which pays money to retirees, is primarily funded through the payroll tax.

Trump ordered Treasury Secretary Steven Mnuchin, Saturday, Au...

For access to this article please sign in or subscribe.


Reader Comments(0)


Our Family of Publications Includes:

Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2020

Rendered 04/10/2021 23:40