President Trump has just perpetrated one of the bigger scams of his presidency, trying to make people think the executive orders he signed actually mean something.
He is using one order delaying payroll taxes in his ongoing effort to undermine Social Security and Medicare. In addition, most people don’t realize they will be billed for the whole amount sometime in the future.
Delaying payment of these taxes for those who are employed will do nothing for the unemployed who are the ones really in need of help.
Respected economist Paul Krugman tweeted, “I don’t know if anyone else has said this, but payroll tax cuts are the hydroxychloroquine of economic policy.