Just got notification from my employer that we will be participating in Trump’s payroll tax DEFERRAL. I understand the 6.2% withheld for OASDI will be deferred for now and then collected next year. So, we get a net pay bump now, get used to it, and then a big net pay wallop to start off 2021. Brilliant policymaking if I do say so myself.
Of course, if we re-elect Trump, we’re good and don’t have to pay the deferred OASDI contributions back, right?