Trump allows some unemployment pay, defers payroll tax


Payroll tax cuts because they're they're coming. Starting September 1st, we're gonna have payroll tax cuts. September, October, November December. From executive order Technically Executive memorandum from the president. In addition to student loans being continued to be deferred eviction memory, our moratorium extended And then the extra $400 per week of unemployment benefits again. Executive order from President Trump Now how did the payroll tax Cuts work. Granted, you've gotta be working to get a payroll tax cuts, so this does not help the unemployed, But it's going to put more money into people's pockets and you do some math here so first off a couple thoughts. This is brand new, so people are trying to still try to figure it out. But from what we understand this is about what this thing is gonna look like September 1st until the end of the year. If you're making less for $4000 or less. In any two week period. That's of any bi weekly period. So it's equivalent of this of this impacts anybody that's making about two grand a week or $140,000 per year or less. Or less. And it seems as though this is going to be determined by your bi weekly pay period. You would be in this group that's going to get a payroll tax cut. Remember the payroll tax cut his FICA and Medicare. You put them both. Together. It's 7.65% so let's do some math. Here again. If you're in this camp, $104,000 or a year or less. Or $4000 or less in a bi weekly pay period, which sounds like the more important calculation here. It's not your annual number, but it sounds like it's a pay period numbers how they're gonna look at this. If you're gonna take 7.5% off of that, which is the employee portion of this That's about 306 bucks a box for every two weeks ago at the Max. So if you're making right at the 4000 levels, said Boyd, 65% is $306 for a two week period and then times to turn up months. I look at this monthly It's about 612 bucks a month. That's really money. Of 600 bucks a month for the next four months. September, October, November, December. That's about $2500 a year. Money that's just directly in your pocket that you wouldn't otherwise have. You're collecting Mohr out of your paycheck, because less is going Teo and medical lessons going federal government

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