Oops, Biden Forgot to Check with Obama on Payroll Tax Holidays
Hey, guys, guess what? Biden was the VP for Obama. Biden loves Obama. He’s been using his relationship with Obama to get him to where he is today in the polls. Oh, you liked Obama? Biden is just like him.
Only, he isn’t. The truth is that Biden is nothing like Obama – and those who think they’re going to get a third term of Obama by voting Biden is going to be sadly mistaken.
If Biden is trying to pass himself off as Obama 2.0, he should have checked with the former president on payroll tax holidays. It seems that they have opposing views. So, is Biden opposing because Trump is in support, or does he genuinely believe that payroll tax holidays are a bad idea?
Obama once said that it was “inexcusable” not to boost the economy using a payroll tax holiday. Trump, as a businessman, couldn’t agree more. Trump’s executive order provided a payroll tax holiday from August 1 through the end of 2020 as a way to boost the economy that’s been struggling from pandemic shutdowns.
Biden referred to it as a “reckless war on Social Security.”
Huh, that’s odd. When Biden was the VP to Obama, he didn’t seem to mind. Obama signed a similar payroll tax cut in 2011 as a way to recover from the recession that hit in 2008.
Trump has said that the payroll tax cut could be extended or even terminated if he wins in November. The president cannot unilaterally forgive tax debts, but he can work with Congress to get it done.
Meanwhile, Biden is in a huff. Such a cut, according to Biden, is a roadmap toward cutting Social Security. “Our seniors and millions of Americans with disabilities are under enough stress without Trump putting their hard-earned Social Security benefits in doubt.”
Joe, calm down. Trump didn’t say he was going after Social Security. Let’s focus on one issue at a time.
So, what’s the difference? When Obama made the tax cut, there was a protection or guarantee that the Social Security Trust Fund would be kept whole.
Just because there wasn’t specific protection or guarantee still doesn’t mean that Trump is planning to go after Social Security. Why would he? Trump has been focused on making sure that not only seniors but also veterans are being taken care of.
Biden may want to remember what Obama said about the need for the tax cut. “This is a way to boost the economy that has been supported by these very same Democrats and Republicans in the past.”
It’s what the economy needs right now. If there is a problem with funding Social Security, it is because the Dems don’t know how to be fiscally responsible. It’s not because of Trump doing what he has to do to keep the economy up and running.
Biden cannot simply disagree with something because it came out of Trump’s mouth. Perhaps he needs to call Obama to be told why this payroll tax cut is important.
Then again, Biden is planning to hurt the economy even worse. Employees already pay 6.2 percent of their wages toward Social Security payroll taxes. Biden is already proposing an increase to the payroll tax. Yes, that means more money coming out of the checks of hardworking Americans. Why? So that seniors can get the financial help they need as opposed to being taught how to save for retirement properly.
Biden is acting like a fiscally irresponsible Democrat without looking at the history of what’s been done in the past. It is not a war on Social Security. Instead, it is a war on a declining economy that has been hit with a pandemic.
If Biden cannot see that Trump is doing the same as what Obama is doing, he may want to rethink speaking out loud about it all.