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Free college announced
Democrats are applauding cancellation of more student loans, a pure political move, but wait.
What about those students incurring loans today and next fall and in the future?
Are we now making all college free? Is it time to max out your loans so they too can be forgiven?
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Exaggerating on the campaign trail
The price of prescription drugs is a hot topic and politicians promise to tackle the problem, often with rhetoric and overstated promises that fail to reflect reality.
I have written before about drug negotiations and the cost of insulin questioning the assumptions being made about real costs and the promises a net savings.
Following are two recent articles that reflect the reality of the…
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The Welfare State
Getting rid of the welfare state is a goal of the MAGA folks and conservatives in general. Exactly what is the so-called welfare state?
How many Americans use some form of what we call welfare? Because of the overlap in programs, it’s hard to be precise, but a good estimate is about 70 million Americans of all ages or 19 to 20% of the population – but this is not a static group. It is constantly…
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Civic lesson. What are the duties of the President?
High school students learn about the three branches of our government and their responsibilities – at least they did when I was in school decades ago.
Our Constitution provides for three branches of government in Article I, II, and III.
This system of checks and balances ensures that no one branch of government has absolute power. Each branch can check the power of the others, creating a stable…
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Conservatives and health care coverage
Don’t drink and drive, don’t mix alcohol with medication. These are two well accepted things to avoid for your health.
Here is another, don’t let conservative politicians screw with your health insurance or Medicare.
This is why the US has the mind boggling health care system it does.
Their ideas in no way consider the reality of receiving and paying for health care or the way individuals view…
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INFLATION GOING WHERE?
Using the same formula to calculate the Social Security COLA that has been in effect since 1975, if the 2025 COLA were calculated today based on the change in inflation for March, the 2025 COLA would be 1.7%
That can be compared with the past seven SS COLAs
2017 2.02018 2.82019 1.62020 1.32021 5.92022 8.72023 3.2 effective 1/24
So, what has happened with inflation since 2017 and equally…
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Why do people perceive things not supported by the facts?
There is a very good article in the WSJ about how people perceive the economy and how that perception does not reflect reality, especially when it comes to inflation and prices.
What’s wrong with the economy is you.
The link here should let you read the full article.
In The Wall Street Journal’s latest poll of swing states, 74% of respondents said inflation has moved in the wrong direction in…
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Misinformation rises to new level
See anything wrong with the following?
Social Security benefits and funding are not based on income but payroll earnings.
Regardless of total compensation, the benefits are not calculated on any earnings above the taxable wage base. In other words for the purpose of Social Security – unlike income taxes – everyone is on the same playing field as it should be. Social Security is supposed to be…
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Look for facts from all angles
Looking at facts from all angles is important. Here are excerpts from an interesting article on the subject. You might like to read the full article
Stories We Tell
Adam M. Grossman | Apr 7, 2024
YALE UNIVERSITY economist Robert Shiller, in his book Narrative Economics, argues that storytelling has more of an impact on economic events than we might imagine. It might seem like the financial…
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Tackling tariffs
One presidential candidate wants higher tariffs, 10% across the board and 60% on Chinese imports. Many Americans say they support such tariffs.
This is mostly pandering to certain groups of workers, but is it a good idea for most Americans and the economy?
There are consequences?
Have you ever heard the phrase “shooting yourself in the foot?”
The thing is, if we can use tariffs to make it…
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Any easy solution to two problems … if you agree both are problems
Problem one: Corporations don’t pay their fair share in taxes, they are greedy with excessive profits. Assuming that is an actual problem
Problem two: Social Security is in fiscal trouble and must be made sustainable. A very real problem.
Solution: impose a 4% payroll tax on employers up to Social Security taxable wage.
This allows Social Security to be sustainably solvent for the next 75…
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2025 Social Security COLA estimate
The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 3.5 percent over the last 12 months to an index level of 306.502 (1982-84=100). For the month, the index increased 0.7 percent prior to seasonal adjustment.
Based on these data measured against the average CPI-W for the third quarter of 2023, the 2025 Social Security COLA would be 1.7%.
If the inflation trend…
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Making Claims
Originally published on HumbleDollar take a look at all the comments there.
Richard Quinn | Apr 5, 2024
HAVE YOU HEARD THIS nonsense about Social Security? It’s nothing but a Ponzi scheme. The trust fund is just IOUs. My favorite: I’d rather invest the money I pay in Social Security taxes because I’d get better investment returns.
All three claims reflect a fundamental misunderstanding of…
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Your debt, my debt, but not their debt
It couldn’t me obvious that forgiving student loans now is pandering for votes, but it’s more than that it’s fiscally irresponsible.
Let’s have more info about how this next round will be paid for.
Although we have not estimated the cost of this new proposal, the Administration’s previous debt cancellation effort – which was ruled illegal by the courts – would have cost about $400 billion while…
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I find this very disturbing
So, a human being who broke our immigration laws is worth less than a dog?
Is this where all the rhetoric has gotten us?
I don’t think this has as much to do with illegals as it does with pure hate, bigotry and xenophobia – something responsible people in a position of great influence should speak out against.
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How can America ever be truly great unless …
We assure all citizens have the means to obtain and pay for health care using a single more efficient system
Social Security is made solvent on a permanent basis while raising benefits for the lowest income Americans
Our immigration laws and enforcement are designed to obtain the best economic outcomes for the Country while demonstrating a level of compassion to those in need and deserving
As…
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Confused
I just listened to a news discussion about American jobs, the theme was manufacture in America, buy American made, support American jobs – good paying jobs they said.
At the same time the American political left wants a $20.00 an hour minimum wage and Sen Sanders wants a mandatory 35 hour work week with no pay cut.
I need to think this through
Corporate profits are being attacked as greedy…
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