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Monthly Archives: August 2021

Mid-Summer Missive

*Does it seem that Summer has just begun but some people are already thinking September really is not far away. Maybe the reason, for me, is that the Hispanic Resource Center of Northwest New Jersey is supposed to open then, and we need to identify and train committed volunteers for this groundbreaking initiative, of which I am Chairman.

Maybe you are looking ahead, because September means the beginning of another semester. Whether you love your school or not, whether you have the typical concern about life after graduation, you probably want to get the diploma as rapidly as possible.

We like that idea too. As always, our grant check gets issued when you send a copy of your class schedule and your college bill.

*Without going into a deep discussion of the tax code, an exercise every bit as headache producing as listening to a group of teenagers where every other word is “like,” it is worth noting that the screaming headlines about income tax rates paid by different people are more than a touch misleading. For example, taxes on capital gains are only applicable when an underlying asset is sold. Other than that circumstance, the appreciation of an asset, whether your house or a billionaire’s stockholdings, does not hit the annual tax return, so mixing apparent wealth and income tax rates is shoddy analysis.

Having said that, it is still nauseating to see how tax code loopholes can be manipulated by wealthy people and their highly-paid accountants/lawyers. It’s equally sickening how influential lobbyists can be in making adjustments to proposed taxation legislation that would tend to more fairly balance competing interests. And it’s really upsetting how incestuous the whole situation is, with many individuals who formerly had federal government positions, both elected and appointed, immediately becoming lobbyists upon leaving their prior jobs.

Relatedly, Richard Wright, most known for the classic Native Son, said it well in his The Man who Lived Underground: “Excessive wealth enables one to live psychologically distant from the realistic processes of society.” He also observed a similar psychologically distancing is involuntarily imposed on those at the other end of the wealth spectrum, those affected by persistent unemployment and oppression.

I do know one ultra-wealthy individual; in fact, we have an annual lunch. Whatever the particular conversational subject was on a recent occasion, his comment was stunning, “You know, I have not been in a store in ten years.” Maybe advanced age was a factor, maybe he had already bought everything he needed, maybe he is exclusively an on-line customer. But what struck me was simply that despite being a good and generous guy, he did not live in the “realistic processes of society.”

P.S. Rich does not equate with bad nor of political persuasion: read the “Mansions” section of the Friday Wall Street Journal: you will see well-known individuals on both the political left and the right. To tar everybody with a singular brush provided by the loudest mouths of the moment is always perilous.

*On admittedly a different subject, but as further evidence of the need for deeper thoughts than available through twitter (or twits), which person went to Guatemala and told the people there not to come to the United States? A Trumpian statement made by Vice-President Harris. Ah yes, the world is trickier than a campaign stop in Oshkosh or a 140-character summation of policy recommendations.

*Demographics, long a favorite topic of the undersigned (reflected years back in our Project 2050, which at the time of formation was the anticipated year when there would be no ethnic majority in this country), is now a consistent topic of conversation. The bottom line is simple: the population of the United States is barely growing in total. Coupled with replacement level birth rates (per women of child-bearing age) for the major ethnicities, this portends a period of slow economic growth, regardless of the money supply that keeps ballooning courtesy of the Federal Reserve.

A further data point concerning demographics is that for the first time in the country’s history, there is a slight decline in the population aged 20-64. This leads to a labor force that is expected to grow at half its historical rate; already, there are widespread shortages of workers, and not simply because of decisions fostered by the stimulus checks. Simultaneously, there is an opportunity for poorly educated individuals to acquire specific skill credentials that can double their incomes.

*Coming back to the slow population growth scenario, the way to alter that outlook is to institute a proactive immigration reform plan.

Perhaps there could be multiple components with clear start dates and sunset provisions where relevant for transition reasons: (1) a clear and doable path for those with specific skills to enter the USA and immediately be put on the road to a green card (2) a clear set of tighter rules on family-based immigration, (3) a fixed percentage of the country’s total population allocated to the total of those with temporary protected status and those who are asylum-seekers (using an overall percentage permits negotiations within that limit), (4) a fixed percentage for work visas, (6)) the issuance of green cards to all DACA individuals, (6) a one-time opportunity for those deemed undocumented because of overstayed tourist visas to pay $10,000 per visa-holder to be put on a green card path, (7) a change from six-month tourist visas to three months, and (8) strong enforcement of border rules and widespread communication that the above set of rules cannot be changed for 20 years.

Amnesty will be the scream of those on the right. The left will pick on a couple of things it finds distasteful. Compromise anyone!

The equation is, in one sense, simple: this country’s growth is dependent on “importing” people.

August Birthdays

It was only two days until August when I realized that I had not begun the creation of my monthly birthday card.

Maybe that’s why I awoke at a ridiculously early hour. Or perhaps it was envisioning a mom and two kids navigating the chaotic highway system of Houston. Or the spectre of mandatory masking returning to our lives.

But enough about me, what about you – have you figured out a strategy for staying reasonably sane in these unprecedented, challenging, mentally draining times.

Thank goodness that no planning is necessary for today: it’s okay to simply let loose and have a HAPPY BIRTHDAY!!!

Peace, Bob