President Trump's payroll tax cut: What to expect on your paystub and will it help jolt the economy?

Yahoo Finance's Brian Chueng breaks down President Trump's payroll tax cut and it means for Americans.
#PresidentTrump #payrolltaxcut

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[Allothersweretakenn]

4:10 if I was getting 600 dollars a week I wouldn’t have a job either this tax cut will obligate these ppl to get their lazy asses back to work.

[praiseYahshua]

The CBO estimates that implementing the Trump Tax Act would add an estimated $2.289 trillion to the national debt over ten years, [8] or about $1.891 trillion after taking into account macroeconomic feedback effects, in addition to the $9.8 trillion increase forecast under the current policy baseline and existing $20 trillion national debt

[fileinterrupted]

i need them to take federal income off

[diaryofaselfmademillionaire]

I don’t get why journalist keep pointing out that unemployed people won’t benefit from the tax cut/deferral as criticism of the cut. Based on that logic, they should also criticize the extra $2400 per month unemployed people were getting that didn’t at all benefit people that still had jobs. Plus the extra unemployment benefits don’t have to be paid back. That said, the cut itself isn’t that exciting to me since it just racks up a bill that I’d have to pay later.

[ericmadsen]

You can't do tax cuts until you deal with the spending first. If you introduce tax cuts and not address the spending problem, you add more to the already bloated national debt which is almost 27 Trillion dollars. By the time of the election or after, the Government would have gotten the debt to 30 trillion dollars. Irresponsible and unsustainable.

[carolynmerritt]

And we will be paying it back. So don't get excited. Better save it because going to need it. Nothing is free. Don't run spending all willy nilly, be weary...

[slackerzsincity]

So I’m a essential worker and I’m gonna have to pay double? Well that’s crazy

[teddubois]

"In summary really the key thing here is that"... you forgot to mention that they also extended the unemployment $400 additional payment and student loan deferral.

[SisterRose]

This will not have to be paid back regardless! Please stop your narratives!!!

[tngardener]

Our jobs refuse to participate which is an option so we see no benefit.

[anthonyobermier]

If he does this, how is social security
Collected and paid out .

[teamgo]

My companies have not paid this out yet and I work for a very large company one of the most powerful in the country. Do they not have to give you the benefit? Even if I do get it I will just put it to the side anyways so I can pay it right back at the end of the year but if something else comes in to play and it is forgotten and then I will have that money to reinvest into my 401(k)? Is it up to the employer if they’re going to or is it a mandate like they were saying

[friendlyskiespodcast]

This never ended up panning out or working. I haven't heard any company do this. Apparently more trouble than its worth for them...also especially if we have to pay it all back next year anyways.

[cellslave]

What if we have overtime for 1bi-weekly paycheck, that shows us making just over $4k for one two week period, but our total income for the year is less than 100k? If they take FICA out for that one check, will it be re-imbursed when we file for taxes? OR do we just lose that Thank you.

[johnsmithers]

So we are going to have to pay back at the end of the year of DEC 31? How much?

[SuperGiantGeckosLLC]

Damnit why is fed tax still being deducted 🤨

[mel.od_]

ITS BOO BOO-20.00 EXTRA DOLLARS A WEEK

[jmendoza]

He is trying to do away with social security

[pandoraroy]

How would that affect a person with a 5 year and older Traditional ira who is about to retire and cash out on that matured Traditional iRA ?

[Dusterto]

How much exactly is taken out of our paychecks in regards to this tax?