Closing Thought–08Apr21

As the day approaches for your taxes to be paid…..I thought you might like to know how much the big corporations pay…..

Did you buy some Nike shoes?

You paid around $12 for a popular model….but that is more than Nike paid in taxes…..

For millions of ordinary people in the U.S., 2020 was a painful year in which loved ones and jobs were lost as a result of the Covid-19 pandemic and its devastating economic repercussions. But for many of the country’s major corporations, last year was a lucrative one—particularly if they were among the 55 companies that paid $0 in federal income taxes on a combined $40.5 billion in profits, as a new study shows.

Released Friday, the report is based on the Institute on Taxation and Economic Policy’s (ITEP) analysis of 2020 financial reports filed by the country’s largest publicly traded corporations. 

Instead of paying a collective $8.5 billion in federal income taxes on last year’s profits of $40.5 billion, as mandated by the statutory 21% rate, the 55 companies exploited preexisting loopholes and pandemic-related tax breaks to reduce their tax bills to zero.

Not only did these corporations secure a zero-tax liability, they received a collective $3.5 billion in rebates, bringing the total amount of lost federal revenue to $12 billion. And 26 of them haven’t paid a dime for the past three years, a time period in which the GOP’s “morally and economically obscene” tax cuts for corporations and wealthy Americans have been in effect.

https://www.commondreams.org/news/2021/04/02/55-us-corporate-giants-paid-0-federal-taxes-2020-thanks-gaping-loopholes

How does that make you feel?

It is time for tax reform as long as we attempt to reform other sectors in the government….taxes on us mere mortals are paying all the bills and the corporations reap benefits from not having to pay what they owe this country.

STOP believing the lies about tax cuts!

Demand that everyone pay their taxes not exceptions!

Turn The Page!

I Read, I Write, You Know

“lego ergo scribo”

That Scary Infrastructure Bill

Pres. Biden has introduced a massive infrastructure bill that comes with a price tag of about $2 trillion….I like the idea for it is long been needed to help this nation move forward after being stuck in stagnation for decades.

Believe it or not….even with the huge price tag…..is wildly popular with the American people.

A new survey shows that “every major aspect” of the Democratic president’s plan to rebuild the country has majority support, regardless of party affiliation.

A new poll released Tuesday shows that a large, bipartisan majority of voters in the United States supports President Joe Biden’s proposal to spend $2.25 trillion over eight years to upgrade the nation’s physical and social infrastructure.

The survey (pdf), conducted by Invest in America and Data for Progress, found that voters support Biden’s American Job Plan by a 52 point margin, with 73% of all voters in favor and only 21% opposed.

https://www.commondreams.org/news/2021/04/06/73-us-voters-including-57-republicans-back-bidens-225-trillion-infrastructure-plan

With all that popularity you would think that the representatives would be open to this ambitious plan…..if you do then you would be wrong…..and on many levels.

Even Dems are in opposition to this legislation…..

Two Democratic senators have already voiced concerns about President Joe Biden’s $2 trillion infrastructure plan.

One of them is Sen. Joe Manchin, a moderate Democrat from West Virginia who has already proven himself to be an outsized presence in the razor-thin Democratic majority. He was also a pivotal voice against the inclusion of a $15 minimum wage in the American Rescue Plan.

Now, he’s expressed his concerns with the infrastructure package. In an interview with Talkline, a West Virginia radio show, Manchin said that, “as the bill exists today, it needs to be changed.”

Regarding Biden’s proposed increase of the corporate tax rate from 21% to 28%, Manchin indicated that he doesn’t support the 28% figure and stressed that the international average is a few percentage points lower. The rate “should have never been under 25%,” he said. “That’s the worldwide average. And that’s what basically every corporation would have told you was fair.”

https://www.businessinsider.com/senate-democrats-bidens-infrastructure-plan-needs-change-warner-manchin-2021-4

Well we know who pays his salary…..and it is not the people of this country.

To call Manchin a moderate is disingenuous….he is a conservative and he is relishing the fact that he has all the power to kill Dem proposals.

Once again the Dems are their own worst enemies.

Now you know why I call most as spineless slugs.

Infrastructure is definitely needed….but instead war gets all the cash they need to keep waging the obscenity and yet programs that help the people of this country needs to be begged to get anything done.

That alone should tell you who/what is important to these slugs in Congress….and it is NOT YOU!

I Read, I Write, You Know

“lego ergo scribo”

You Are Your Credit Score

Your credit score is you!

It is used for shelter acquisition, transportation buying, employment, etc.

Very little accomplishments in life mean nothing but your credit score is there for you to live or die.

For those that do not pay attention to such menial things….

Companies use a mathematical formula – called a scoring model – to create your credit score from the information in your credit report.

Some factors that make up a typical credit score include:

  • Your bill-paying history
  • Your current unpaid debt
  • The number and type of loan accounts you have
  • How long you have had your loan accounts open
  • How much of your available credit you are using
  • New applications for credit
  • Whether you have had a debt sent to collection, a foreclosure, or a bankruptcy, and how long ago

Companies use credit scores to make decisions such as whether to offer you a mortgage, credit card, auto loan, or other credit product. They are also used to determine the interest rate you receive on a loan or credit card, and the credit limit.

Keep in mind there is no “one” credit score. It is important to know that you do not have just “one” credit score and there are many credit scores available to you as well as to lenders. Any credit score depends on the data used to calculate it, and may differ depending on the scoring model, the source of your credit history, the type of loan product, and even the day when it was calculated.

Usually a higher score makes it easier to qualify for a loan and may result in a better interest rate. Most credit scores range from 300-850.

In other words accomplishments in life mean nothing….it is all about the math.

Did you know that if you join one of the many credit score people you can add points to your score?

It has nothing to do with your ability to pay or not….just that you have spent money to access your “score” at any time.

Now that I have set the stage I would like to tell my better half’s story.

She owed a house for about twelve years and recently sold it….she got enough to pay off her mortgage and a SBA loan that she took out to do repairs that her house had been given by Hurricane Katrina in 2005.

She had a great credit score…..she had credit cards and such…but after she sold her home and got her new score she learned that it had decreased by about 100 points.

The moral of this story is that you are supposed to be in debt to retain your “good” credit score.

Learn Stuff!

I Read, I Write, You Know

“lego ergo scribo”

Closing Thought–19Mar21

How many times have you heard what a draw those Blue States on the government…..all those programs that are draining the treasury with their liberal BS?  How many times?

The problem with that accusation is that it is pure bullsh*t…a “big lie”…..

States run by Republicans are far more dependent upon the help of the federal government than their Democratic-run counterparts, based on the latest annual study from Wallethub.com.

In ranking the 50 states, the financial website listed 11 red states among the 12 most dependent upon Washington D.C. No fewer than 19 of the 25 of the most-dependent states were Republican dominated. Conversely, 12 of the 14 states least dependent on the federal government were run by Democrats.

“Blue states are less dependent on federal government than red states,” the site observed, noting that in its 50-state ranking, red states ranked 20.68 in dependency to Washington DC, versus a much lower average ranking of 30.32 for blue states.

https://www.rawstory.com/federal-mooching/

I live in deep red Mississippi and the residents for the most part hate government programs that gives free money to those that they feel do not deserve it.

And yet Mississippi is in the top ten states that depend on government funds to continue their existence.

In 2020 Mississippi was number 4….in 2021 we are still the fourth highest recipient of federal funds….

The U.S. is a federal republic, meaning that power is held by both the central federal government, located in Washington, D.C., and by the governments of every state and territory that make up the union. But the “division of powers” isn’t as simple as it seems — and neither is the division of finances, since states rely on the federal government for money and various programs to help them operate. With all this in mind, SmartAsset crunched the numbers to see which states are the most dependent on the federal government.

To do this, we considered data on all 50 states across the following metrics: the federal share of state government revenue, the ratio of federal funding to income taxes paid, the percentage of workers employed by the federal government and the ratio of median earnings for federal workers to median earnings for private for-profit workers. For details on our data sources and how we put all the information together to create our final rankings, check out the Data and Methodology section at the end.

This is SmartAsset’s 2021 study on states most dependent on the federal government. Check out the 2020 version here.

https://www.moneytalksnews.com/slideshows/the-10-states-most-dependent-on-the-federal-government/

It always amazes me just how damn ignorant people can be……even when federal handouts benefit them and they still hate those that receive them…..

The voter in Mississippi has always voted against their best interests….just how stupid can they be.

Is your state cited?

I Read, I Write, You Know

“lego ergo scribo”

So You Hate The Green New Deal

There is lots of push back on the idea of the Green New Deal….from destroying the oil industry to socialism to well you probably have your on opinion….mine is that it is beyond time for this type of legislation.

I could quote you all sorts of facts and stats on why it is needed or all the good it could do….but instead of boring you tom death with stats how about some real life examples of the good…..

An Arkansas school district finds funds to give teachers a pay raise…..

Our hero is Michael Hester, who some years ago became the superintendent of the Batesville School district in Independence County, Arkansas. He faced the problem that his district was underfunded and the teacher pay was in the bottom quarter for the state. Teachers kept resigning because they could not live on the pay. The American custom of supporting local schools mainly with local taxes means that poor communities have poor schools, which is not right.

Since 2018, Hester’s project has saved the school $1 million in utilities costs.

What comes next is the kicker. Hester used the savings on his district’s utility bills to give the teachers bonuses, ranging from $3,000 to as much as $15,000 a year.

He says he no longer has the problem of teachers resigning because of poor pay, and applications to teach in his district have risen.

https://www.juancole.com/2021/03/arkansas-district-teachers.html

Just one example of how a Green New Deal can effect education as well as other aspects of American society.

Still think the Green New Deal is an ugly duckling?

Bet the teachers in Batesville, Arkansas would strongly disagree.

But if you would like information on the Green New Deal….then I suggest you read the bill before you condemn it…

Click to access BILLS-116hres109ih.pdf

But not to worry….this may never get past the Senate…..don not blame the GOP totally….if blame needs assigning then I would do so for Manchin a Democrat….

President Joe Biden campaigned on a climate policy plan that included, as its backbone, a clean electricity standard (CES) that would push the US electricity sector to net-zero carbon emissions by 2035. Given how important electricity is in cleaning up other sectors of the economy, the CES is arguably Biden’s single most important climate policy promise.

Figuring out whether he will be able to make good on that promise necessarily involves an inquiry into the beliefs, motivations, and intentions of one man: West Virginia Sen. Joe Manchin.

Manchin is the hinge. He is the Senate Democrats’ 50th vote, the signal that other caucus “moderates” follow. Every Democratic legislative effort will, in the end, rely on his support. There’s no way around it.

https://www.vox.com/22337863/joe-manchin-biden-climate-change-senate-clean-energy-standard

Go figure…..a Senator that has deep ties to coal and he would crap on cleaning up the environment….go figure

Be smart!

Learn Stuff!

I Read, I Write, You Know

“lego ergo scribo”

Closing Thought–16Mar21

Some people have made out like bandits during the pandemic.

The total wealth of US billionaires rose $1.3 trillion amid the pandemic, the ATF and IPS said.

This could fund two-thirds of Biden’s $1.9 trillion COVID-19 rescue plan.

American billionaires have earned so much money during the pandemic that they could fund two-thirds of President Joe Biden’s COVID-19 relief package using profits generated in the last year, a report shows.

The combined fortune of American billionaires rose around $1.3 trillion, or 44%, from March 2020 to March 2021, Americans for Tax Fairness (ATF) and the Institute for Policy Studies (IPS) said.

This increase is equivalent to two-thirds of the $1.9 trillion cost of Biden’s pandemic rescue plan, which he signed into law Thursday.

657 billionaires were worth a combined $4.2 trillion, the ATF and IPS said. Under current tax laws, none of this would be taxed during their lifetimes, unless the underlying assets are sold at a gain, they said.

https://news.yahoo.com/american-billionaires-could-fund-two-110000968.html

Time for this obscenity to change!

Children go hungry…..people lose their homes…..no jobs….and yet these societal parasites roll in dough.

Somebody needs to a grow a pair and step up and demand these ‘people’ start paying for the privilege of being part of the American society.

I do not care how much money they make or steal or whatever….all I want is for them to pay their fair share like the rest of us mere peasants.

A fair and equitable tax code would be a good start.

Watch This Blog!

I Read, I Write, You Know

“lego ergo scribo”

Always A Naysayer

The checks will soon be issued and sent out to Americans that deserve a break from the problems this pandemic is creating.

As with any good news there is always a naysayer that has to rain on the parade…..

New COVID relief payments of $1,400 will be landing in Americans’ bank accounts soon, but Megan McArdle makes the case in a Washington Post op-ed that the checks are a bad idea. She’s all in favor of the government helping people and businesses in genuine need during the pandemic, but she has a problem with so many of these checks going to fully employed people who don’t need the money. It’s a needed stimulus, you say? Not quite in this case, she writes. We’re in the midst of a “supply shock,” not a “demand shock” marked by plunging consumer confidence. Stimulus can help the latter. But “giving money to someone who still has their job doesn’t make them more likely to go out to dinner if the reason they’ve stopped going out is that they’re afraid of the deadly virus.”

The relief money accounts for $420 billion of the relief package, roughly 20%, and it is the most “indefensible” part of the measure, writes McArdle. Small businesses, for example, could use a lot more help, but the stimulus bill delivers little on the front. Instead, most of this money will likely pile up in people’s bank accounts because they still don’t have a lot of ways to spend it. “It’s bad policy now and a dangerous precedent for the future,” writes McArdle. “And it may well do more to seed the next economic crisis than to fix the current one.” Read her full column.

There seems to always be a “Debbie Downer” with any good news…..someone just has to pee in our Post Toasties…..

Personally the bill does more than all of the “other guy” policies.

All indications are that this one bill will do more for the economy than anything since 1982…..so objections are just silly.

Then there is the “C**T of the Congress” (sorry if that is offense but it is the only word that comes to mind when her name is mentioned), Rep, Taylor-Greene……

Rep. Marjorie Taylor Greene (R-GA) repeatedly claimed on Wednesday that Americans have been “enslaved” by a COVID-19 relief bill that she claims provides “reparations” for Black farmers.

After Greene made her fourth motion to adjourn Congress, she retreated to her congressional office to record a 14-minute Facebook video for her followers. In the video, she blasted Republicans who are “annoyed” with her adjournment stunts.

“I hope you are not disappointed in your Republican representative,” she said. “And if you do find out that they voted no with the Democrats, I hope that you call them up or email them or call their office or send them a letter and let them know how you feel about them voting no.”

https://www.rawstory.com/marjorie-taylor-green-reparations/

Just another worthless Repub with the IQ of a garden slug (that is being unfair to the slug)

Thoughts?

I Read, I Write, You Know

“lego ergo scribo”

Biden And Domestic Production

This is a continuation of my series on the policies of Pres. Biden.

Our new president is trying to increase the US domestic production with the hope that it will be a job creator…to go it alone he decided the way to accomplish this goal is through the executive order process.

President Biden signed an executive order Wednesday intended to boost manufacturing jobs by strengthening US supply chains for advanced batteries, pharmaceuticals, critical minerals, and semiconductors. The United States has become increasingly reliant on imports of these goods—a potential national security and economic risk that the Biden administration hopes to address with the planned 100-day review and the possibility of increased domestic production, the AP reports. However, Biden will also look to work with international partners to ensure a stable and reliable supply chain. “These are the kinds of common sense solutions that all Americans can get behind,” Biden said at a White House ceremony.

“It’s about resilience, identifying possible points of vulnerabilities in our supply chains, and making sure we have the backup alternatives or workarounds in place,” said Biden, who met Democratic and Republican lawmakers in the Oval Office before the signing. “It was like the old days,” Biden said. “People were actually on the same page.” White House officials emphasized that the order would help to create manufacturing jobs, a promise made by past presidents with decidedly mixed results. There are 12.2 million manufacturing jobs in the United States, down from 17 million in 2000, according to the Bureau of Labor Statistics. Biden’s order also included sectoral reviews to be completed within one year for defense, public health and biological preparedness, information communications technology, energy, transportation, and food production.

The part that concerns me is the sector called “critical minerals”…..I am guessing that that means rare earth minerals…..and since the US has a very limited amount and Afghanistan is teeming with them it would have something to do with our prolonged stay in Afghanistan.

In case you are not too sure just what a ‘rare earth’ mineral is then I can help with that…..https://lobotero.com/2019/06/04/it-is-about-rare-earth/

All in all this should step up our domestic production….but as far as a massive job creator I have my doubts.

Be Smart!

Learn Stuff!

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“lego ergo scribo”

How To Strengthen Social Security

For years we have been bombarded by the narrative the the Social Security system is broke and will eventually fail….this has been a Repub narrative for as long as I can remember….and yet SS goes on and on….

But if you want to sure up the system then maybe eliminating the cut-off point for paying into it….and everyone regardless pays into it.

Those are the simple ones…but those are unacceptable to politicians because the wealthy do not want to buy into the system.

Here is yet another way to help strengthen the system….

What does the minimum wage have to do with Social Security? On the surface, they might seem like unrelated issues. After all, the minimum wage is for workers and Social Security is for people who’ve stopped working due to old age or disability. But in fact, the two are closely linked—and raising the minimum wage to a $15/hour living wage would strengthen Social Security.

Social Security is extremely popular, effective, and efficient, but it has one major flaw—benefits are too low. Raising the minimum wage would be a big step towards fixing this problem. That’s because the more money workers pay into Social Security, the greater their future benefits. In other words, raising the minimum wage doesn’t just increase workers’ current compensation. It also increases their future compensation: Social Security.

In practice, this means that a $15 minimum wage will increase the future Social Security benefits of low-income workers by up to $5100 a year. That translates to millions of seniors and people with disabilities who won’t have to cut their medications in half in order to afford groceries.

Raising the minimum wage would also bolster the Social Security trust funds. When workers earn more, they contribute more into Social Security. A $15 minimum wage would generate over $130 billion for our Social Security system by 2035. But the same Republicans who endlessly demand cuts to Social Security so it doesn’t go “bankrupt” (which is impossible) refuse to support a living wage.

The benefits to Social Security are just one of many reasons why we need to update the minimum wage to $15. It will make millions of workers and their families more economically secure. It will pump billions of dollars into communities across the country. And it will save money on means-tested assistance programs.

https://www.commondreams.org/views/2021/02/27/want-strengthen-social-security-raise-minimum-wage-and-do-it-now

One final thought……

If you are one of the struggling families during this pandemic…..these are the Reps that voted against you getting help…..remember their names in 2022 and send them packing…..

Let us not forget the two cowards in the Democratic Party that voted against the bill…..The two Democrats who sided with the GOP were Rep. Jared Golden, who represents Maine’s 2nd District, and Rep. Kurt Shrader, who represents Oregon’s 5th District.

Please keep these names handy and vote their worthless asses out of Congress….they do not deserve you respect or support because they do either for you.

I Read, I Write, You Know

“lego ergo scribo”

The Minimum Wage Debate

The biggest debate since the new president too his throne in the ivory tower is that of a raise in the minimum age to $15…..Arkansas’ senator wants to scale it back to $10 per hour….but in Arkansas the minimum wage is $11….so is he trying to back peddle the wage for all including those in his home state of Arkansas.

There are some spineless Democrats that will not go along with people earning a decent wage…..

Senate Democrats are facing internal divisions over efforts to raise the minimum wage to $15 an hour, which could result in the proposal being watered down or jettisoned from the coronavirus relief bill.

The wage hike is part of President Biden’s $1.9 trillion coronavirus relief proposal, and it has the support of powerful progressives in both chambers and members of leadership.

But because of the 50-50 Senate split, proponents need to win over every Senate Democrat. That’s setting up a fight over the wage increase as they craft the final version of the relief package.

“I support the increase in the federal minimum wage to the $15 level. I think it’s way overdue that we change it. And I think it would be a good thing to do. There may be other members, even on the Democratic side, who have some concerns about it,” said Sen. Tim Kaine (D-Va.).

https://thehill.com/homenews/senate/537464-minimum-wage-push-sparks-democratic-divisions

The whole minimum wage debate is fake….that simple…..

Capitalism’s “conservative” defenders yet again oppose raising the minimum wage. They fought raising it in the past much as they tried to prevent the Fair Labor Standards Act (1938) that first mandated a U.S. minimum wage. The major argument opponents have used is this: setting or raising a minimum wage threatens small employers. They may collapse or else fire employees; either way, jobs are lost. What is conveniently assumed here is a necessary contradiction between minimum wages and small business jobs. That assumption enables opponents to claim that not setting a legal minimum wage, like not raising it, saves jobs. The system thus presents very poorly paid workers with this choice: low wages or no wages.

“Liberals” in the United States have mostly accepted the assumption of that contradiction, the necessity of that final choice. However, they try to demonstrate that the social gains from a higher minimum wage would exceed the social losses from the reduced employment they admit. Their idea, in effect, is that a higher minimum wage would increase demand for goods and services. Any workers fired because of the minimum wage would be rehired elsewhere to meet the rising demand. Countless empirical studies by conservatives and liberals yield, as usual, correspondingly conflicting conclusions.

The Fake Debate Over a Minimum Wage

With conservs like the Dem Manchin the raise could be in jeopardy…..so if this coward gets his way is there a Plan B to combat the corporate stoolies like Manchin?

The budget tool that Democrats are using to steer Biden’s plan through Congress without GOP support, known as reconciliation, is laden with thorny restrictions waiting to ensnare the $15 minimum wage boost they’ve added to the next tranche of coronavirus relief. The wage increase is also running into strong headwinds from two influential Senate Democratic centrists, Joe Manchin (D-W.Va.) and Kyrsten Sinema (D-Ariz.), who are both resistant to enacting the sweeping policy change through the powerful budget process.

The White House and Democratic leaders have been waiting to see how the Senate’s parliamentarian, its official adviser on procedural matters, opines on the wage increase. Both Democrats and Republicans are expected to meet with the parliamentarian on Wednesday to argue their case. Her ruling could follow soon after the arguments.

In the meantime, Democrats are already weighing several options to try to save the wage hike from fully imploding and make it more palatable for moderates in their own party — from whom congressional leaders need lockstep support in order to muscle the Covid-19 aid package through the Senate with a simple majority vote before unemployment benefits expire for millions of Americans in mid-March.

https://www.politico.com/news/2021/02/22/democrats-minimum-wage-increase-plan-470860

I do not believe that a compromise should be had…..go big and demand people get a living wage….something the Dems have been promising for decades and never come through with a plan.

Now is the time!

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“lego ergo scribo”