Steve’s Barking; Why it’s imperative that we fix social Security NOW!!!

 Social Security is going in trouble as to not paying it’s full benefits in the near future! That near future might be as soon as before the end of this decade ! If the CPI is 5% or more this year and not all workers can me back to work there is big trouble!  Now this year the Social Security trust will be needed to pay Social Security benefits … Now think about it the trust fund has in it over 2.2 trillion dollars or about what the President wants to pay for America’s infrastructure. Now common sense says that what ever we need to borrow and tax twice that amount, once to pay for the infrastructure the other to pay off the debt of the Social Security trust fund…. Fortunately there is away out of this end the cap on the the Social Security Part of FICA. Do not have a donut hole, which would leave too much money not going into the Social Security account…..

*** 6.2 % is what is tax with the cap of 143000 dollars ( payroll tax or a workers tax) x 2 what the employer pays = 12.4%

There have been suggestions that no tax on income between 143,000 dollars and 400,000 dollars not be taxed. That’s 257,000 dollars not taxed at 12.4% = $31,868. Now let’s say that this a couple that’s $63,736. That being said is a lot of money not going into the Social Security trust fund.

** If enough money goes into the Social Security trust fund the borrowing on the open market will be less for essentials such as infrastructure.

*Do not increase the percentage payroll tax to pay for an increase in Social Security, it hurts the working poor the hardest.

 (#) If I had my way I would lessen the burden on the self employed, instead of having them pay 12.4%I would have them 10% or less. ( even though I’ve been told that it’s deducted at the other taxes that one pays, I’m not sure). 

Steve’s Barking; The new go too philosopher Geniuses.

 Though out history the people have quoted those who they believed to be the wisemen of their day. Well if you read newspaper or listen to mainstream media (Fox News) they quote, John Oliver, Stephen Colbert, Bill Maher, and  Jon Steward among others. Comedians all. So one can summarize that the new philosopher geniuses are comics.

Steve’s Barking; Get ready for food inflation!

 Prediction…. there will be a major inflation in the price of vegetables this winter due to the drought in the western part of the country. The Southern Hemisphere is also suffering through droughts. Now we all love our vegetables and fruits making for higher prices. Supply and demand pressures. Prediction….there will be people who call themselves economists who will claim it all the Federal Reserves fault for printing too much money.

Steve’s Barking; Stop the panic NYC about jobs

 I keep reading in some prestige papers and even a tabloid or two that NYC is in trouble because of job loss. Now hold on there. Yes as of the end of April NYC had a 11.5 unemployment rate. Of cause Broadway shows hadn’t  opened up. Actors, directors musician were on unemployment roles. Let’s not forget all the people who work the concessions. There slowly coming back with actors going to rehearsals.

 What about the tourist industry, especially the foreign tourist, who probably won’t be here till 2022.

 Several hotels have closed , but so far this year three new hotels have opened up in Manhattan and I’m sure many more are in the works. And what about the airports, they are opening up and I’m sure they will be hiring soon. The sports arenas are opening up to full capacity and the businesses around them will need workers. Now let’s talk about jobs that are coming to New York, you know like the Amazon warehouses in my borough and the other warehouses. The also need workers. So stop with the panic attacks, NYC will be fine. Even the financial business will not lose too many positions, those who leave will easily be replaced by people who are looking to make a quick buck just out of school.

Steve’s Barking; Cheap oil, how to get it.

 Oh cr*p the price of oil is going through the roof and beyond It’s now over $70 a barrel and to think 🤔 just recently it was in the 💸negative 📉💸.  Of cause there are some who actually believed that because we stopped the keystone pipeline the price of oil went up. After all it couldn’t be That all of a sudden their is need for oil because of pent up  demand from cars,  factories and other fossil fuel ⛽️ users 🛳 ✈️. Of cause if the good 👍🏾 old US ofA gave ( lend, or grants,) to the oil companies that went out of business or are strapped for cash 💰 to open up those oil wells and in three months the world would be awash with oil that the price of oil would be 1/2 of what it is today🤗🤗🤗🤗🤗. Thank you Federal Reserve 👍🏾.

🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡

Steve’s Barking; Job growth is a bad thing?

 I say that job growth may be a very bad thing. That’s because I’m out of my cotton picking mind ( At least if you listen to the experts). Every city, state and county wants more jobs in their place so how can job growth be a bad thing? We’ll let’s put it this way, most if not all do not have the workers to do the jobs. Therefore they will have to depend on the migration of workers from other places. Well that won’t be foreigners because our immigration policies put a kibosh to that. If you don’t have enough workers who are going to do the lower paying jobs. Oh my goodness were going to have wage inflation! Especially if most parts of the country have 3% or lower unemployment. Now think, new arrivals to your state city or county means transportation problems, new schools, new sewers( unless this has already been planned for). How is the localities going to pay for the new jobs? Are they going to pay for themselves?

 *Now you would think my hometown (NYC) should be fighting for new ( and new old industries) but the problem with that is the old industries that will come back ( foreign tourism, theater and movie production) will all come back with a vengeance. Let’s not forget the Amazon warehouse and others that are going up in the Bronx that will employ many workers That almost 6% unemployment if there is not to much migration will be a thing of the past. New York just like the rest of the country may be at the saturation point of employment for the population that lives in the area.

Steve’s Barking; Statistics can be dangerous

 In modern times ( the 21st century and late 20th) statistics have become an easy way to explain complicated issues. Just look at baseball, and the great statistic of war( wins against replacements)Now I’m trying to figure out exactly how one gets those figures. There are so many variables in baseball that it makes that statistic almost laughable.

 Now let’s look at real life. The United States government is giving debt relief to black farmers stating that  it was almost impossible for them to get loans and when they did get loans and the government pass them by for debt relief only 3 % black farmers got the relief. Those statistics are true. It’s also true that 60% of the money went to industrial agriculture. It’s also true that only 39% of American farmers got any kind of debt relief.  No wonder that white farmers are mad as hell.

 In NYC African American and Latino died of COVID-19 at a far greater number then Euro Americans. Statistic show it. What these statistics do not show is why. Was it the hospitals that they went to? Was it the fact that they have greater health problems? Perhaps it just the luck of the draw.

 * The purpose of my rambling is to show that without the full numbers and the variables statistics can be bad and even have an adverse effect ( especially for the Democratic Party).

 

Steve’s Barking; Why are they picking on lower middle class retirees

 I’m upset 😭. There is an attack on the supper rich and how much their.net worth went up during the pandemic and by golly they didn’t pay taxes on their net worth going up. Of cause the report didn’t say oh crap in the beginning of the the pandemic their wealth went down. The reason I’m saying this that their wealth went down is the point that wealth based on asset is subjective to the whims of others. This now brings me to why the lower middle income ( middle class) retires are the ones who will get hurt the most if  there is a tax on the increased value of assets known as stocks. Now I’m going to write ✍️ something that most people will have a hard time understanding. Stocks  are a Pyramid, those at the top 🔝 will have to sell a portion of their stocks in the company which we lower middle income retires count on to be funding our pensions, our 401 k, our IRA. Ya 🤔think. Now the Bezos, the Musks, Gates, Zuckerbergs, and Buffets can afford to lose a good portion of their net worth from their stock ownership of their companies but the pensions (even though those pensions that our worth much more then those billionaires net worth) because they have to pay 💰 cash money. Those of us who have IRA’s in the stock market or 401ks our value in  stocks 💰will lessen. So in conclusion the people who will really be 😞 our the lower middle class retirees. 

Steve’s Barking; USA cyber attacks, look Inward!

 In recent days companies in the US have come under cyber attacks. We have blamed cyber criminals in, Russia, China, maybe it was maybe it was state sponsored criminals in Iran, or North Korea. Well maybe not! My biggest fear isn’t overseas actors, but home grown private sector computer specials who firms were hired by the NSA. They’re smart and have access to the NSA supercomputer that can hack and cause mischief on most computer systems in the world. Now I not competent sure but if there are codes to get into the NSA computers a disgruntled  worker might steal the keys (codes) to the NSA super computers.

Maybe for money, but the bigger threat is the feeling of being slighted. So selling the keys to criminal and or foreign actors is not out of the question.

This is only a theory of mine.