China, Coal, And EVs -- Aprill 11, 2023

Locator: 44362B.

UPDATES

Later, 12:02 p.m. CT: Social Security and  Medicare —

• Recommendations
• progressive for both SS and Medicare
• no contribution cap based on income
  
• upon retirement, benefits phase out based on income
• additional contributions mandated for entertainers, sports figures, and federal employees, but, again, progressive
• families with children below the age of six exempt from all contributions
• families with dependents in college partially exempt from contributions

ORIGINAL POST

FedEx: increases dividend. Completely unexpected. And FedEx increases their dividend during a recession. See GDPNow.

Link here.

 
This is really a cool story.

I don't think most folks have caught on to this.

As the western world moves away from coal, using natural gas as a transitional fuel, and investing heavily in solar and wind energy, China is clearly taking a different fork in the road: coal.

This is another article that notes that China is switching from gasoline-fueled ICEs to coal-fueled EVs.

Absolutely fascinating.

And Saudi Arabia can clearly see this. 

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Today's Reading

Even by The New Yorker's standards, the article by Larissa MacFarquhar in the current issue of TNY is setting a new record (?) -- seventeen pages. The article is on "adoption" and it is fascinating. Reminds me again how fortunate so many of us are. 

Probably behind a paywall.

On another note, I'm still reading A Fever in the Heartland by Timothy Egan, c. 2023. This should be mandatory reading by all juniors in "red" schools. And all GOP congressmen "investigating" "January 6." Timothy Egan's book certainly puts "January 6" into historical perspective.

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Jon Rahm

For Jon Rahm, social security withheld on his $3-million winnings: $10,000. This works out to 0.3% [0.062*160,200)/$3.24 million].

0.03% for a multimillionaire.

6.2% for a $50K blue-collar worker.

The GOP continues to move farther and farther away from me.

A reader replies: 

His social security contribution as a percent on his his $8 million in 2023 anticipated winnings:

$20,000 in SS contributions.

$20,000 social security / $8,000,000 earned income = 0.25%.

Medicare is even a better deal. Not only is it unchanged from 2022, despite inflation, it's still a whopping 1.45% for individual matched by another 1.45% for employer.

0.029 x 160,200 = $4,646 / $8,000,000 = 0.00058 = 0.06%.

Compared to what he would be paying in Spain, Jon Rahm must think he died and gone to heaven.

Note: I often make simple arithmetic errors.

Again, as noted, the GOP continues to move away from me.