Capitalism is GREED! STOP BLAMING A PRESIDENT Remember that 'BIG OIL' received $5 trillion in subsidies over the last 10 years. Then they took in profits ... Three of the largest oil and gas producers this week reported strong combined profits of $85.6 billion in 2023. Exxon Mobil reported $36 billion in profit for the year, supported by further oil and gas production. Chevron outlined profits of $21.4 billion — the second-largest profits in a decade for both. Both political parties have failed us in this "Hypocrisy we call a Democracy!” It should always be about the people first ...
Social Security has a surplus of over $2 trillion. For over thirty years, however, It collected more in payroll taxes and other income than it paid in benefits and other expenses. The Treasury invested the surplus in interest-bearing Treasury securities, ultimately reaching a total of $2.9 trillion in trust fund reserves. Social Security remains beloved and has bipartisan support among American citizens. Yet the program faces an insolvency crisis. It pays out more in benefits than it collects in taxes and is, therefore, devouring its trust fund. By 2034, when the fund is projected to run dry, it's estimated that 81 million Americans will face automatic benefit cuts of 20%. This is not an option. Social Security has collected approximately $2.8 trillion more in payroll taxes and interest than has been paid out since tax collection began in 1937. This surplus is referred to as the Social Security Trust Fund. The fund contains non-marketable Treasury securities backed "by the full faith and credit of the U.S. government." Social Security has the legal authority to draw amounts from other government revenue sources besides the payroll tax to fund the program fully while the Trust Fund exists. However, payouts greater than payroll tax revenue and interest income over time will liquidate the Trust Fund by 2035, meaning that only the ongoing payroll tax collections thereafter will be available to fund the program. To make Social Security solvent for the next 75 years, legislators could raise the tax rate from 6.2% to 8.1%. According to current actuarial projections, this would fix the problem until 2095. So, it is fixable but painful. Legislators could close three-quarters of the long-term deficit by immediately abolishing the maximum taxable wage base (currently $147,000), thus subjecting all wages to taxation. I would do this.
Artificial intelligence presents unique risks to the economic security and dignity of the working classin America. And it’s no surprise that Congress is behind the curve on placing regulations and safeguards around AI to protect workers. We need Congress to place a check on AI in the workplace before it threatens wages and the dignity of work. Recently, the Screen Actors Guild and Writers Guild of America were striking to protect their job security and wages — and AI protections were a central part of their grievances. Executives wanted to exploit actors and writers using AI, but workers stood up and said NO. AI has been impacting workplaces across sectors, and its impact will only be felt more as time goes by. It’s time to protect workers in the new digital age.And our lawmakers have a critical role to play. Workers should have a decision-making role in how and when their companies adopt technologies that will impact their jobs. Workers should receive compensation based on profit from the implementation of these technologies, not solely hours worked. Congress is already behind the eight-ball on the issue of AI in the workplace. It’s time for lawmakers to act. I will get it done knowing that Bob Latta will not do a thing!
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