Featured News

White House Economic Adviser: Trump Should Declare a “National Economic Emergency”

A White House economic adviser has called on Donald Trump to declare a national emergency because of the Coronavirus and stop collecting payroll taxes.

Read: Samuel Alito Is The Insurrectionist Threat To Democracy On The Supreme Court

Stephen Moore co-authored an op-ed in Sunday’s Wall Street Journal calling for radical and apparently unilateral action to shore up the struggling U.S. economy.

“Last week Mr. Trump acknowledged that compromising with Speaker Nancy Pelosi is a fool’s errand, because the House won’t agree to anything that boosts growth and job creation,” Moore wrote.

Moore claimed the Democrats’ economic plan would “sink the economy and imperil Mr. Trump’s reelection.”

“The president needs to pull an end run, and there’s a legal way to do that. He should declare a national economic emergency and announce that the Internal Revenue Service will immediately stop collecting the payroll tax,” Moore said.

“This is technically called a deferral of the tax payments.”

He said that while Democrats couldn’t call for a tax cut for the rich, President Trump can and should.

“Mr. Trump could cap it at, say, $75,000 of income, so the vast majority of the benefit would go to straight into the wallets of middle- and lower-income workers, almost all of whom pay more payroll than income tax,” he wrote.

Moore has been widely criticized for his approach to economics, with economists blasting his ideas as “terrible“. Nonetheless, he may hold sway over a president facing a tough reelection fight.

Follow Darragh Roche on Twitter

Recent Posts

Trump Melts Down Over Not Being Able To Rig His Own Trial

Trump was bordering on incoherent as he angrily spoke outside of the courthouse after jury…

12 hours ago

House Democrats Demand Answers From Chief Justice Roberts On Alito And SCOTUS Ethics Rules

House Democrats sent a letter to Chief Justice John Roberts demanding that he answer questions…

13 hours ago

Justice Alito Refuses To Recuse Himself On 1/6 Cases

Supreme Court Justice Samuel Alito has rejected a request from top Senate Democrats to recuse…

14 hours ago

A Conviction Could Wreck Trump With Senior Voters

GOP strategist and CNN contributor Scott Jennings said that a conviction could harm Trump with…

17 hours ago

Trump Sounds Like He Knows He’s Going To Be Convicted

Trump didn't sound confident as he left the courtroom, but instead seemed to already be…

18 hours ago

John Fetterman Cuts Though The Media BS On The Biden/Trump Election

Sen. John Fetterman (D-PA) made the choice clear for voters who are trying to decide…

21 hours ago