By Mark Joffe Cato of FreedomJuly 16, 2024.
excerpt:
To determine whether the government is still subsidizing California drivers, Krit Changwon and I reviewed a variety of local, state, and federal disclosures for fiscal year 2022-2023. We used actual numbers when available, but in some cases we were forced to use budgeted amounts because there wasn’t sufficient historical detail.
By Eric Bohm reasonJuly 16, 2024.
However, the reality is a little different. The contract between the Teamsters and UPS states: What you need Air conditioning will be installed in vans and trucks purchased after 2024. June, CNN report UPS has yet to purchase new trucks with air conditioning.
As a result, Teamsters members who work at UPS It’s hot at work this summer tooMeanwhile, their boss turned his victory march into a gripping speech at the Republican National Convention.
O’Brien’s supporters might argue that progress in labor is always incremental, and that air conditioning only in newly purchased trucks is better than no air conditioning at all.
But if unions are essential to extract concessions from employers, why are Amazon’s non-union delivery drivers Air-conditioned truck?
By Romina Boccia Cato of FreedomJuly 18, 2024.
excerpt:
If Social Security continues to operate as it is, the median American worker making about $60,000 a year could soon face an additional $3,000 or more in payroll taxes, bringing the total payroll tax bill to more than $10,000 a year.
Figure 1 shows how much taxes would increase for middle-class U.S. workers if Congress raised the payroll tax rate from 12.4% to 17.5%, a step necessary to maintain Social Security’s current benefit structure through 2097. Such a higher payroll tax rate would increase a middle-class earner’s annual payroll tax burden by more than 40%, from $7,449 to $10,512.
By Robert Posen and Charles Brahus Market WatchJuly 16, 2024.
excerpt:
Social Security’s essential worker-to-collector ratio rises more directly due to immigration than due to rising birth rates, because immigrants are most likely to arrive as working-age, tax-paying adults, whereas it typically takes native-born Americans almost two decades to contribute significant payroll taxes. 2024 Social Security Trustee ReportA sensitivity analysis suggests that if future immigration were 35% higher than currently projected, the Social Security funding shortfall would decrease by 11%. Immigration cannot eliminate the Social Security funding shortfall, but it can help.
and:
According to a 2013 actuarial note: Office of the Chief Actuary, Social Security Administration To explain, these contributions only benefit the individual if they are subsequently achieved. Legal work permit The question is whether they have contributed long enough to gain resident status (or leave the U.S. altogether) and accumulate benefits. The vast majority of undocumented immigrants do not achieve this status, and “evidence suggests that relatively few of those who could potentially receive benefits actually do so,” the report said.
As a result, most such immigrants pay Social Security taxes without ever claiming Social Security benefits. In effect, these immigrants subsidize Social Security for the rest of us. These subsidies are significant. For example, 2010Social Security began to suffer a cash shortage that has continued ever since. Payroll tax on illegal immigrant incomeSocial Security would have started to run a deficit a year ago. 2009.
This last point is especially important for those who believe that immigration has a negative impact on Social Security (and there are many such people).
