The Washington Post ran a “Fact Checker” piece on September 4 giving the Joe Biden campaign the ignominious prize of “Four Pinocchios” — for running an ad based on President Donald Trump’s actual comments about ending the payroll taxes funding Social Security. And this week, Trump claimed the Post’s piece as a victory.
Right-wing media have been promoting Trump’s efforts to zero out the payroll tax since March, often making misleading comparisons to a 2% payroll tax cut during the Obama administration that also reimbursed the program with general revenue funds. And while Trump’s efforts have been peddled as a solution to the economic downturn from the coronavirus pandemic, Los Angeles Times business columnist Michael Hiltzik also explained back in March, “a payroll tax cut would be poorly targeted, delivering the most help to households least in need,” as it would merely benefit those workers who are still getting paid instead of the vulnerable workers who are being sent home without pay or laid off.
The Biden campaign ran an ad earlier this month about the potential consequences of zeroing out payroll taxes for Social Security.