Taking It Over REPACK
In a new report, the analysts estimate that cars with Level 3 and higher autonomous technologies will account for about 15% of sales in 2030, up from 0% in 2020, with the bulk of that penetration coming from semi-automated vehicles that can control safety-critical functions but prompt the driver to take over in certain circumstances.
Taking It Over
If you are acquiring an existing business, you may have a choice as to whether or not you take over the UI experience of the former owner/operator. The following sections give you more information regarding business transfers and taking over the former owner’s/operator’s UI account.
The Report of Business Transfer ( -115-e.htm) form is the primary form used by the department to obtain information on business transfer. The form is generally requested from both parties. The form can also be used by the new owner/operator to make a written application to take over the UI account of the former owner/operator.
If there is no relationship or common interest at all between the parties, then the new owner/operator should complete Section 5, Option of New Owner/Operator of the form. The new owner/operator can apply to take over the UI experience of the former owner/operator or can decide not to apply. While the application to take over the UI account does not necessarily have to be done when this form is completed, there is a deadline for making a timely application. The deadlines are shown in Section 5.
If a transfer occurs between employers that are owned or controlled by similar interests or members of the same immediate family, taking over the UI account experience of the former owner/operator is mandatory.
If a transfer occurs between employers that are owned and controlled by unrelated interests, taking over the UI account experience of the former owner/operator is optional. To qualify for this option, the new owner/operator must file a written application by the contribution report deadline for the quarter following the quarter in which the transfer occurred.
If you are a new owner/operator of a business but are not taking over the UI account of the former owner/operator, and are not already an employer under the UI law, you become an employer under the Wisconsin UI law as of the date of the transfer.
As a newly covered employer, you will have all other aspects of a new UI employer including:The tax rate for new employers for the first three years.
The first UI tax report deadline, which is:
The deadline of the quarter following the quarter in which the employer became covered; or
January 31, for those employers who became covered in the fourth quarter of the year.
To obtain more information on business transfers and taking over the UI account of the former owner/operator, contact us at:
In the U.S. corporate profits as % of GDP rate is still high, it's still above 10% of GDP. It took off after 2000 when Bush 2 came into office. It was 4.5% of GDP in 2000. The Fed purchase of corporate bonds in 2020 was about $4 trillion, but it stayed in the financial market, did not affect the normal commercial market. I compared the growth of income from 1964 to 2020: "average weekly (and yearly) earnings for production and nonsupervisory workers" (80% of workforce) grew by 4%, (BLS data: ) (yes I know that sounds wrong but you'll have to check for yourself, it's correct), and in 2020 it was still about 8% lower than 1973 levels (check the BLS web page); the hourly wage grew by 25% (but average hours per week decreased); and the GDP/capita grew by 189%. It's that 4% to 189% growth that should stand out in everyone's mind. Wages dropped by 23% between 1973 and 1993, and have steadily risen but are still 8% below 1973 levels (see the BLS web page). The RAND Corporation study "Trends in Income 1975 to 2018" states that average workers' income, including supervisory workers, increased from $43,000 in 1973 to $50,000 in 2020, when they would have risen to $92,000 had wage growth matched income growth, as it had 1946 to 1973. This is well-known history, RAND brought it to light. Other studies agree with RAND, see Olivier Giovannoni at the Levy Economics Institute, What We Know about Labor Share, Part 3. A shift of income occurred, the lower 90% lost 12% to 17% of total income, the top 10% received what the lower lost. "The New Gilded Age" published at the Economic Policy Institute has similar results. This is the demise of prosperity, but not of capitalism. Mexico never experienced prosperity, and the inequality of income there is typical of the future of the US, in my opinion. Unless the general population takes notice, which they might. Bernie Sanders is popular, and he has noticed all this. While the GDP/capita jumped by 189% between 1964 and 2020, so did the S&P 500. But last year the S&P 500 increased its value by 33%, from 3300 to 4400, roughly, while the economy slipped by 3.6% of 4.5% depending on how you calculate. As many know, professor Lazonick has shown that over the past decade and more, at least 90% of the S&P 500 profits have gone to shareholder dividends or stock buybacks. It's an ongoing thing. This is how our society allocates its surplus -- it essentially wastes it. That wealth is "static" not "dynamic"; it contributes nothing to social well-being. It's almost criminal, it's at least disgusting. Since January 2009, the Fed's Flow of Fund reports that total private "household net worth" has increased by 134%, adjusting for inflation, from $58 trillion in January 2009 to $136.917 trillion in June 2021. GDP increased by 23%, nonsupervisory worker weekly income increased by 8%. Get the picture? I write a blog, Economics Without Greed, Part Two, some of this is on it. --
July 4, 2020 : Given the threats posed by Global Warming and the Anthropogenic input accelerating it, and by the Global COVID-19 Pandemic, in the face of a rudderless Government in the U.S., and the resulting calamitous Global Economic Crash that is currently unfolding, with mass hunger and illness to be expected at this time and for the foreseeable future, it has become evident that drastic Development Proposals on a Global Scale will have to be conceived and implemented without delay. This is and must be the primal task and duty of the U.S. to the Peoples of the World, from Fourth World to First World, especially the poorest, given the enormous Development it has garnered for the so-called American People since its founding, with the incessant and stolid participation of these very same peoples. This is one such proposal: Mathematical Model and Simulation for "A Partnership for Development with the United States of America", at no cost to the U.S., but great profit, that would articulate Private Sector and Public Sector entities pertinent to environmentally-friendly holistic socioeconomic development in the American Hemisphere, bringing together its 35 nations, in a concerted effort to reduce and eliminate the existing Ominous Welfare Gap, led by the Private Sector, for profit. This very same scheme can be implemented on a North-South basis, not only in the Americas, but in Europe Africa, and Asia Oceania. Model and Simulation developed in Excel in 1999, and subjected to its subsequent versions through Excel 2003 and its updates through 2014. Some macros may not work appropriately today. _Model_and_Simulation_for_A_Partnership_for_Development_with_the_United_States_of_America_December_1999
VV's pieces, this one and the one it links to, provide a very intriguing overview of the contemporary tranformation of capitalism. I do think, though, that the logic of his argument suggests a version of Modern Monetary Theory as the resolution to what he terms "techno-feudal exploitation and mind-numbing inequality."If I read him correctly, VV argues that central banks' liquidity decisions provide the actual motor for current economic activity. At this level of Fed-created liquidity (and Obama-era fiscal policy), low interest rates simply subsidize the speculative profitability of capital at a given level of production. But if the interest rate is a non-factor in real economic activity, then the Treasury can borrow and spend like any private corporation. And if a Fed/Treasury-financed Biden stimulus provides employment opportunities and reinforces the social safety net it can raise the both level of economic activity and the standard of living.This is pretty much MMT, isn't it? I don't see VV's interest rate paradox. The political problems getting this done are obvious and daunting. But the goal, at least, seems clear.
Great article. Just a few points: The transition from feudalism to capitalism in 19th century had more impact in history because of its impact on productivity. At the end, nations where feudal relations persisted ended up losing their independence through world wars and went through this transition with a foreign mandate. Transitions from capitalism to oligopoly and its derivatives did not have the same impact, hence we haven't seen any major wars as most of the world is governed by some sort of oligopoly. The impact of central bank currency - since 1971 but especially 1999 is enormous but not as fundamental as it is believed today because it is unstable just like any unlimited credit scheme is. The difference between the path to GFC and the path we are following is where the credit bomb is placed. Unfortunately, we do not have any real markets left to rely on when that bomb goes off which will only increase the power of governments to dictate everything in our lives with the help of technology exactly how it was predicted by Orwell.Here, the corporate currency and its unlimited leverage is applied only for this transition.
I enjoy Yanis, he interesting and provocative. I think USA capitalism end is premature, and I think the USA will change significantly over the next 4 years, in other the Progressives will be thrown out forever. It is EZ to see to me. The USA FED is the USA Stock Market backstop...they have taken risk out of the system and ongoing inflation is not in sight. TINA = USA Stock Market. Invest over time and enjoy the riches. 041b061a72