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Date: 2020-07-19 23:13:20
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⚠️⚠️⚠️#Interview #Trump #Stimulus ⚠️⚠️⚠️
Donald Trump earlier threatened to veto a new phase 4 stimulus plan IF it did not include a payroll tax holiday. In this video I break down the new Interview with Donald Trump from July 19, 2020 with Chris Wallace on Fox News and I go into detail of how a payroll tax holiday will work.
A payroll tax holiday would essentially pay you 6-7% more in tax home money, but it would take money out of federal programs for Social Security (retirement benefits) and Medicare (retirement health benefits).
Remember the phases of stimulus
Phase 1: Test Funding
Phase 2: Health and Hospitals Funding
Phase 3: CARES Act ($1,200 Stimulus Checks, PPP, EIDL)
Phase 3.5: More PPP, EIDL Money for Small Biz
Phase 4: Heroes Act (Pending extra $1,200). AKA Cares 3 or Cares 2.
PLUS Infrastructure bill (separate from these phases).
This is my take on whether there will be a second stimulus check. First, we know that the Federal Reserve and popular economists make it very clear that now is NOT the time to focus on the debt or the Fed’s Balance sheet. Now is the time to make sure the economy is not permanently scarred. Well to see if they’ll actually be another round of stimulus – another stimulus check – it’s helpful to see how the CARES Act #1 was passed. When we understand how the last CARES Act was passed, we’ll know a lot more about the likelihood of the HEROES Act (HR 6800) passing – it’ll help us weed out the noise of political screaming between Mitch McConnell and Nancy Pelosi. We’ll also look at the Emergency Money for the People’s Act (EMPA), which offered $2,000 / month
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