President Obama and Congress to not invite the jobless and working poor to the party. They are still outside looking in at the celebration by Big Government and Big Money with the Globalist and Free Traders still into their monopoly money games.Global issues - Information Digest by Ray Tapajna
Create more jobs now! Stop the Tariffs on work - Stop the Payroll Tax on workers. It's a Flat Tax on the working poor. And President Clinton admitted he used Social Security money to fund his Balkan wars. Social Securing taxes are used also in the general fund the same way income tax is used.
There was some talk about ending this unfair tax on work in the debates about bailing out Big Money but President Obama and the U.S. Congress ignored the advice.
Let's go back to 1998 and see how nothing really has changed. The economic crisis will continue if nothing is done.
Reference: Plain Dealer 7/23/98 End payroll tax, create more jobs
The Bureau of Labor Statistics had the unemployment rate at 4.5 percent. Supposedly they were the lowest rates in 30 years but the figures were misleading. The BLS unemployment data is based on interviewing 50,000 households. The occupants are asked if they were looking for work in a certain week in the previous month. It they answer yes, they are considered unemployed. If they say no, they are considered unemployed even if they have no job. As far as I know this practice continues to this day. Only 37 percent of all U.S. workers qualified for unemployment insurance. This means there are many workers living in economic limbo with the data to this day misleading. In the past the term underemployment was used to cover part-time workers who could not find full-time work. Now it is ignored in any reporting. Tens of millions of "the retired" ( one third of all who lost their jobs at age 55 or more, never found another job.) want jobs but can not find any. Many ended up with reduced Social Security payments. Others who finally received their Social Security payments and found work had to still pay the Social Security tax for others with many having part of their Social Security payments reduced if they made more than about $12,000 a year. As the same time those who were living on pensions and interest income no longer paid any payroll tax.
If one counts all the over-18 adults who are healthy and not in any school, medical institution or jail ( the prison population keeps breaking records and now consists of more than 2 million in prison - the largest proportion of any country in the world.) and who thus could be working, but are not, one finds that almost half of the country's human capacity is not being used.
The payroll tax is a heavy load for the American worker to carry and companies can not compete in the global economy with companies who do not have to pay a tax like this. It acts as a 15 percent overhead in competing with most of the world. It was ony 2 percent when it was introduced in 1936 and applied only to the first $3,000 in wages. Today the payroll tax amounts to 15.3 percent and is applied to the first $65,000 and acts as a flat tax on the working poor. It acts as a deterrent for employing more workers. The poor pay a higher percentage of their income than the upper classes. Public workers do not pay it.
Stopping the payroll tax would cut the cost of labor in the U.S. by more than 15 percent. Reportedly, for every 1 percent reduction in the payroll tax would create about 2 percent more employment. With more people employed, our social costs would decline. A 1996 study found that 1 percent increase in employment of older people led to a 7.29 percent decrease in days of hospitalization.
Free Traders and Globalist should know that Free Trade and Globalization are based on consumerism. Consumers are also workers and if they are not working or enjoying a living wage, Free Trade and Globalization can not work.
All our tax codes are obsolete in the global economy. Why take tariffs off goods and put them on work. And today all the bail outs of Big Money are really tariffs too. President Obama and Congress must know this and are ignoring it all.
( See Real Tax Reform - Taps instead of Taxes where local value added economies can recycle over an over again.
How can our leaders continue to ignore the assault on the work itself.
Create more jobs now! Stop the Tariffs on work - Stop the Payroll Tax on workers. It's a Flat Tax on the working poor. And President Clinton admitted he used Social Security money to fund his Balkan wars. Social Securing taxes are used also in the general fund the same way income tax is used.
There was some talk about ending this unfair tax on work in the debates about bailing out Big Money but President Obama and the U.S. Congress ignored the advice.
Let's go back to 1998 and see how nothing really has changed. The economic crisis will continue if nothing is done.
Reference: Plain Dealer 7/23/98 End payroll tax, create more jobs
The Bureau of Labor Statistics had the unemployment rate at 4.5 percent. Supposedly they were the lowest rates in 30 years but the figures were misleading. The BLS unemployment data is based on interviewing 50,000 households. The occupants are asked if they were looking for work in a certain week in the previous month. It they answer yes, they are considered unemployed. If they say no, they are considered unemployed even if they have no job. As far as I know this practice continues to this day. Only 37 percent of all U.S. workers qualified for unemployment insurance. This means there are many workers living in economic limbo with the data to this day misleading. In the past the term underemployment was used to cover part-time workers who could not find full-time work. Now it is ignored in any reporting. Tens of millions of "the retired" ( one third of all who lost their jobs at age 55 or more, never found another job.) want jobs but can not find any. Many ended up with reduced Social Security payments. Others who finally received their Social Security payments and found work had to still pay the Social Security tax for others with many having part of their Social Security payments reduced if they made more than about $12,000 a year. As the same time those who were living on pensions and interest income no longer paid any payroll tax.
If one counts all the over-18 adults who are healthy and not in any school, medical institution or jail ( the prison population keeps breaking records and now consists of more than 2 million in prison - the largest proportion of any country in the world.) and who thus could be working, but are not, one finds that almost half of the country's human capacity is not being used.
The payroll tax is a heavy load for the American worker to carry and companies can not compete in the global economy with companies who do not have to pay a tax like this. It acts as a 15 percent overhead in competing with most of the world. It was ony 2 percent when it was introduced in 1936 and applied only to the first $3,000 in wages. Today the payroll tax amounts to 15.3 percent and is applied to the first $65,000 and acts as a flat tax on the working poor. It acts as a deterrent for employing more workers. The poor pay a higher percentage of their income than the upper classes. Public workers do not pay it.
Stopping the payroll tax would cut the cost of labor in the U.S. by more than 15 percent. Reportedly, for every 1 percent reduction in the payroll tax would create about 2 percent more employment. With more people employed, our social costs would decline. A 1996 study found that 1 percent increase in employment of older people led to a 7.29 percent decrease in days of hospitalization.
Free Traders and Globalist should know that Free Trade and Globalization are based on consumerism. Consumers are also workers and if they are not working or enjoying a living wage, Free Trade and Globalization can not work.
All our tax codes are obsolete in the global economy. Why take tariffs off goods and put them on work. And today all the bail outs of Big Money are really tariffs too. President Obama and Congress must know this and are ignoring it all.
( See Real Tax Reform - Taps instead of Taxes where local value added economies can recycle over an over again.
How can our leaders continue to ignore the assault on the work itself.
