The Korea Economic Research Institute (KERI) believes that the youth born after 1990 will be unable to claim their pensions as the current system is close to collapsing. South Koreans may claim their pensions at the age of 62, which is about three years earlier than other G5 nations. The G5 plans to raise the age to 67 to 75, while South Korea plans to implement an age requirement of 65 to 67.
Yet, South Korea’s population is aging rapidly. In the near-term, the nation will be faced with a “superaged society;” by 2025, 20.3% of the population will be 65 or older, and that percentage will increase to 37% by 2045.
Insurance premiums for Korea’s public pension are around 9%, while the G5 average is 20.2%. South Koreans are also required to contribute for a shorter term to receive a pension. The current average stands at 20 years, but the G5 average is 31.6 years in comparison. “It is necessary to invigorate the private insurance and pension market alongside more tax benefits and an overhaul of the pension system to brace for a superaged society,” said Choo Kwang-ho, the research head of KERI’s economy policy division.
As I said in 2016, the pension crisis is global. Governments always have their hand in the cookie jar and cannot manage pensions without it becoming a giant Ponzi scheme. Any pension fund that holds government debt in size and thinks it will return to normal is delusional.
California Governor Nuisance Newsom would like to pass Assembly Bill 1400, “Guaranteed Health Care for All,” as the nation’s first single-payer health care system. Unfortunately, this does not equate to free health care. The Tax Foundation estimates that this measure will increase taxes by $12,250 per household, doubling the state’s sky-high tax collections. The 2022-23 budget proposal is $286 billion, but many believe it will rise to $400 billion.
“The top marginal rate on wage income would soar to 18.05 percent—nationally, the median top marginal rate is 5.3 percent—and the state would adopt a new 2.3 percent gross receipts tax (GRT), at a rate more than three times that of the country’s highest current pure GRT,” the Tax Foundation reported. The new tax package aims to raise $163 billion annually, but California has never been close to raising that amount through taxes.
Surtaxes atop the current individual income tax structure beginning at $149,509 in income;
A graduated-rate payroll tax system with the top rate kicking in for employees with more than $49,990 in annual income; and
A gross receipts tax of 2.3 percent, excluding the first $2 million of business income.
After 2.5 years of increased spending, Newsom has failed to produce any notable changes aside from pushing many Californians to flee the state. In 2019, Newsom permitted illegal immigrants between 19 and 25 to qualify for Medi-Cal coverage, intended for poor and disabled citizens who legally pay taxes. Adding illegal immigrants to Medi-Cal could increase the cost by $98 million annually.
Democrats always promise not to raise taxes on “the little guy,” but funding Guaranteed Health Care for All will dig into the pockets of anyone earning over $49,000. Assemblyman Health Flora (R) said, “When they realize they don’t have enough money to pay for this, they can raise taxes on everyone on a simple majority vote. They wrote that right into the bill. But anything fiscal has to be a 2/3 majority vote.”
These policies are why people have been fleeing the once desirable state of California for greener (redder) pastures where they are not taxed into oblivion with Socialistic promises of someone else’s money footing the bill.
Posted originally on the conservative tree house on January 17, 2022 | sundance | 95 Comments
As noted by the Washington media, “The FBI reversed its position late Sunday on the Texas synagogue hostage-taker, acknowledging it was a case of terrorism after first improbably insisting the suspect’s motives were unclear.”
It wasn’t just a happenstance reversal, and it wasn’t a reversal based on evidence discovered that caused them to adopt new conclusions. Immediately preceding the FBI reversal in position was a public statement by Joe Biden in Philadelphia:
[11:58 A.M. EST, SUNDAY] …”Hey, folks. With regard to Texas and the synagogue, I spoke this morning with the Attorney General and — to get a rundown. He said there’s overwhelming cooperation with the local authorities and the FBI, and they did one hell of a job.
This was an act of terror. This was an act of terror. And it not only was related to someone who had been arrested, I might add, 15 years ago and been in jail for 10 years — the idea that it was something new. And they did just a great job. “… ~ Joe Biden
The reason this aspect is important is to highlight the motives of the FBI and DOJ. The actions of the institutions are driven by political defenses of the leftist regime.
If President Donald Trump was to have said “This was an act of terror“, the same institutions would have castigated him by saying, there’s still not enough information to make that legal distinction. The media would then inflate the issue and spend the next two media cycles ridiculing him. This is not supposition, this example, is a reference point that actually played out several times during the Trump administration.
However, during the Biden administration, the institutional motives of the DOJ/FBI are in alignment with Joe Biden and his administration. Therefore, the institutions themselves will modify their practices and operations to be in synergy with Dear Leader.
This might sound like a “duh” example, but the larger point is reinforcement of a severely politicized justice system. It is very dangerous to have a justice system driven by political alignment. It is even more dangerous to have a law enforcement agency making decisions based on political alignment.
Joe Biden doesn’t need to give instructions about ideological alignment and messaging. Indeed, I doubt he gives any instructions. The people behind Biden might give instructions, but this type of synergy is more appropriately considered like the cast of an improvisation performance just following the cues by the lead actor. Biden says something, and the apparatus (whichever element it is) moves to align with whatever he just said.
♦ Saturday Night / Sunday Morning FBI: ““We do believe from our engagement with this subject that he was singularly focused on one issue, and it was not specifically related to the Jewish community,” Matthew DeSarno, the FBI Dallas special agent in charge, told reporters. “But we’re continuing to work to find motive, and we will continue on that path.”
♦ Sunday at Noon: “This was an act of terror. This was an act of terror,” Joe Biden says.
♦ Sunday at 5:00pm FBI: “This is a terrorism-related matter, in which the Jewish community was targeted, and is being investigated by the Joint Terrorism Task Force.”
Here’s the video of Biden’s full statement at Noon on Sunday:
Q Do you know why he targeted that specific synagogue, Mr. President?
THE PRESIDENT: Well, no, I don’t. We don’t have — I don’t think there is sufficient information to know about why he targeted that synagogue or why he insisted on the release of someone who’s been in prison for over 10 years, why he was engaged — why he was using antisemitic and anti-Israeli comments. I — we just don’t have enough facts.
Germany is enjoying absolute tyranny. During the protests over the weekend, you see the police with measuring sticks ready to imprison anyone who is not socially distancing. Yet the police are walking between people violating their own law. Europe has lost its mind all for a virus that was created in a lab and is being exploited for political change. This is a city that divided its people because of politics. The politicians there have demonstrated that they are by no means representing the people. This is becoming an outright usurpation of power.
Our computer has been forecasting the rise of civil unrest and it has been unbeatable. My greatest fear and that the politicians have reached the tipping point. They will either be thrown out of the office or terminate the right of the people to vote. This is the real political crisis we face as every day more and more evidence surfaces that not merely is COVID grossly exaggerated, but the vaccines have no ability to prevent the spread of COVID. The facade is crashing down upon governments and the fake media. This only warns of greater civil unrest and this is now about to cross the Rubicon.
Posted originally on the conservative tree house January 17, 2022 | sundance | 315 Comments
A study out of Israel is showing the fourth shot, second booster of COVID vaccine, provides no benefit in the prevention of the Omicron variant.
(Reuters) – A fourth shot of COVID-19 vaccine boosts antibodies to even higher levels than the third jab but it is not enough to prevent Omicron infections, according to a preliminary study in Israel.
Israel’s Sheba Medical Center has given second booster shots in a trial among its staff and is studying the effect of the Pfizer booster in 154 people after two weeks and the Moderna booster in 120 people after one week, said Gili Regev-Yochay, director of the Infectious Diseases Unit.
[…] “We know by now that the level of antibodies needed to protect and not to get infected from Omicron is probably too high for the vaccine, even if it’s a good vaccine.” (read more)
I’m at a complete loss about why anyone would keep arguing for value in the vaccine passport. If vaccinated and unvaccinated equally are susceptible to COVID infection, and the vaccine does nothing of benefit in that encounter, then why in the heck are vaccine passports even considered of value?
My wellness and exercise regimen during the white house “Winter of severe illness and death” continues…
Posted originally on the conservative tree house on January 17, 2022 | sundance | 245 Comments
Dr. Mary Talley Bowden has taken a stand in Houston, Texas, against the medical establishment’s COVID-19 protocols, and withstood massive pressure upon her. Dr. Bowden disengaged herself from a medical system that was not treating the core of patient’s needs and set off on her own path.
Dr. Bowden created BreatheMD to treat patients suffering from COVID-19 with therapeutics, wellness and monoclonal antibody treatments. To take this approach, Mary Bowden had to disconnect herself from the medical establishment. Her clinic is thriving despite the ongoing assaults from Big Pharma, the Houston Methodist hospital system and media. Dr. Bowden is on the right side of history. Earlier today she held a press conference. WATCH:
Posted originally on the conservative tree house on January 17, 2022 | sundance | 341 Comments
Global News is reporting on a slow moving vaccine protest by truckers at the Manitoba, Canada-U.S border crossing.
(Global News) – […] “Truck drivers are circling MB-75 between Emerson Duty Free and the Commercial Inspection station blocking all lanes heading south to the United States and Northbound traffic coming from the USA,” Throp said.
In a video sent to Global News by Dawn Davey, trucks can be seen slowly driving on Hwy. 75 and horns are blasting. (read more)
The Canadian vaccine mandate for cross-border truck drivers began Saturday, January 15. The U.S. vaccine mandate for cross-border truckers begins January 22nd.
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This is a library of News Events not reported by the Main Stream Media documenting & connecting the dots on How the Obama Marxist Liberal agenda is destroying America
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