Random musings: August 2020

Monday, August 31, 2020

The Best Way to Make and Keep Friendships in Adulthood

Today's blog post is based on an article from The Art of Manliness:

It’s a common lament: making friends in adulthood is hard. After college, it can seem quite difficult to form the kind of tight relationships you enjoyed as a youth and develop not just a network of causal acquaintances, but a circle of real friends.

Researchers have found that there are three keys for overcoming these difficulties and creating close friendships: 1) proximity (being geographically/physically close), 2) repeated and unplanned interactions (getting together without planning to get together), and 3) a setting that encourages vulnerability.

There’s one practice that satisfies all three requirements, and arguably represents the best way of cultivating satisfying friendships in adulthood: starting a discussion group.

3 Advantages for Friendships in Forming a Discussion Group

A discussion group may take the form of a book club, a Bible study, an entrepreneurial mastermind, or an organized bull session built around any other theme. Regardless, such groups not only offer edification to your mind, but three great advantages when it comes to making and keeping friends:

Sidesteps the planning go-round.

Ensures consistent hang-out.

Encourages deeper conversation.

I belong to a free business mastermind group that meets on the first Wednesday of every month, called A Leg Up. I try to make at least some of their meetings (and I've presented once). This group used to meet in person at Fuddruckers in Modesto but (at least for now) it meets online via Zoom. Be sure to check out the Meetup link above...they're meeting in two days and since they're virtual, you don't even have to be in Modesto!

How to Start a Discussion Group

Choose a theme.

Choose a schedule.

Invite potential members.

Have a de facto facilitator.

Incorporate (a bit) of structure/tradition.

If you'd like to start your own group, the article has ideas on how to get started. Or if you'd prefer to join an existing group then check out Meetup. But if you're in business then check out A Leg Up. Their theme is business and they have a monthly speaker share an aspect of business. They have a set schedule. I'm inviting potential members right now. Kimmer Sue and Clayton Dosier are the facilitators. Although I don't know if they have any traditions yet.

So, if you're free for (virtual) lunch on Wednesday, be sure to check them out. I still need to make arrangements at work for the day off, but plan on seeing me there.

Interesting days

Today - Trail Mix Day, Overdose Awareness Day, We Love Memoirs Day and Love Litigating Lawyers Day

September will be Sepsis Awareness Month, Friendship Month, Sourdough September, Chiari Awareness Month, Read A New Book Month, Ovarian Cancer Awareness Month, Pulmonary Fibrosis Awareness Month, Suicide Prevention Month, Shake Month, Sewing Month, Childhood Cancer Awareness Month, Hunger Action Month, Happy Cat Month, Honey Month, Chicken Month, Piano Month, Preparedness Month, Library Card Sign-up Month and Mushroom Month

Tomorrow - Building and Code Staff Appreciation Day, Tofu Day, Ginger Cat Appreciation Day, Letter Writing Day, Emma M Nutt Day and Cherry Popover Day

Next Monday - World Duchenne Awareness Day, Mouthguard Day, Beer Lover’s Day, Superhuman Day, Buy a Book Day, Salami Day and Acorn Squash Day

September 31 - You get a day off from Interesting days

Saturday, August 29, 2020

Your weekend guide to interesting days - August 29, 2020

September 21 - September 27: International Week of Happiness at Work

Month long celebrations:

September 15 - October 15: Hispanic Heritage Month

Friday, August 28, 2020

The week in review - August 28, 2020

Monday - "How to help save the post office, as well as battered and abused women" $97 can go a long way! "so for $97 you'll get $50 worth of books sponsored and if you send your 180 cards (that's 6 cards a day for 30 days), the post office will get $99."

Tuesday - "Meet the speakers" Some of the speakers appearing at the RMGS "Here are interviews with a few of the speakers from this year's 2 Day Virtual Relationship Marketing Grand Summit coming up Labor Day week."

Wednesday - "Want a Good Life? Just Don’t Do Stupid Stuff" From The Art of Manliness. "It’s no coincidence that those foundational moral laws, the Ten Commandments, consist almost entirely of “thou shall nots.”

Thursday - "The Power of Habit #TBT" This is one of my favorite posts. "I found that doing a 90 day challenge is the best way to create a new habit...or break an old one."

Interesting days

Today - Bow Tie Day, Daffodil Day, Cherry Turnover Day, Crackers Over The Keyboard Day, Rainbow Bridge Remembrance Day, Radio Commercials Day and Race Your Mouse Around The Icons Day

Tomorrow - Franchise Appreciation Day, More Herbs, Less Salt Day, Potteries Bottle Oven Day, Individual Rights Day, Chop Suey Day and Lemon Juice Day

Next Friday - Bring Your Manners To Work Day, Macadamia Nut Day, College Colors Day, Lazy Mom’s Day and Newspaper Carrier Day

September 28 - Drink Beer Day, International Poke Day, Strawberry Cream Pie Day, Family Day, Good Neighbor Day and World Rabies Day

Month long celebrations:

September 15 - October 15: Hispanic Heritage Month

Thursday, August 27, 2020

The Power of Habit #TBT

Today's blog post was originally published five years ago:

That's the title of a book by Charles Duhigg. It's a very interesting book on how people create new habits or replace old ones. You really can't totally eliminate old habits, but you can replace existing ones.

Habits are based on a cue, activity, rewards system. Existing habits already have these defined. You receive some kind of cue, you do an activity without really thinking about it (the habit) and you receive some kind of reward. All three pieces are important. To change a habit you need to figure out what those three pieces are and to change the activity. There are several examples in the book and there are flowcharts on the website that show how to create or change habits.

Creating a new habit is similar, but you start with the activity, figure out what you will use as a trigger and what your reward will be.

There's a TED Talk that says basically that you can do anything for 30 days:

Conventional wisdom says it takes 21 days to create a habit but it's loosely based on an observation that it takes AT LEAST 21 days to create a habit. It may take 30 days to create a habit but it will probably take more. But try something for 30 days and you may be well on your way to creating a new habit...which is why 30 day challenges are so popular, whether it's my 30 day beard growing challenge:

Honestly, this one hasn't been too difficult. Or it may be this 30 day challenge that I'm starting on September 1st:

Now this one will require a bit more effort. To make it a habit I will need to add a cue and a reward. I think I will do mine first thing when I get up, but I won't use my alarm for a cue...I already have a habit of dragging my butt out of bed (I still haven't figured out what the reward is!). I will set another alarm 30 minutes later so I can read my email and check Facebook. This alarm will actually serve two purposes: to remind me to do the plank and to limit the amount of time I spend doing the other activities. What will my reward be? I don't know yet. It might just be the satisfaction of completing the challenge...after the 30 days is up I may need a new reward.

Often changing one habit or adding one new one has a cascading effect...many other habits are added or changed. The one habit is called a keystone habit.

So, let's kick September off with a 30 Day Plank Challenge and see if we can turn that into a new habit...maybe even a keystone habit! Who's with me?

Although I've read several times that it takes an average of 66 days to form a new habit. I figured that's kind of a strange number, but then I realized it's two thirds of the way to 100 days, So if you do something for 100 days, then by the time you get two thirds of the way there, you should have a new habit. Just don't give up at 66 days, but keep going!

I found that doing a 90 day challenge is the best way to create a new habit...or break an old one. I tried several 30 day challenges to quit drinking soda and I ended up like the guy in the video at day 31 of giving up sugar. But a 90 day challenge worked!

Interesting days

Today - International Bat Night, Burger Day, Banana Lovers Day, Pots De Creme Day, Petroleum Day, Tug-of-War Day and The Duchess Who Wasn’t Day
Tomorrow - Bow Tie Day, Daffodil Day, Cherry Turnover Day, Crackers Over The Keyboard Day, Rainbow Bridge Remembrance Day, Radio Commercials Day and Race Your Mouse Around The Icons Day

Next Thursday - Welsh Rarebit Day and Skyscraper Day

September 27 - Crush a Can Day, Rivers Day, Corned Beef Hash Day, Morning Show Hosts Day, Ancestor Appreciation Day and Tourism Day

Month long celebrations:

September 15 - October 15: Hispanic Heritage Month

Wednesday, August 26, 2020

Want a Good Life? Just Don’t Do Stupid Stuff

One of my basic philosophies is that life consists of these simple daily steps:

Wake up
Do stuff
Go to sleep

Although the hangup for most people is step number 2, which can often lead to problems with step number 3, which can then lead to problems with step number 1!

What can we do to improve step number 2? The answer is in this article from The Art of Manliness:

When it comes to achieving a good life, we often think about the things we need to start doing. The habits we need to add. The practices we need to optimize.

Yet research, and reams of anecdotal experience, show that avoiding negative things has a far bigger influence on outcomes than adopting positive ones.

Studies have found that while being a bad parent has a huge effect on how children develop, being a super involved parent — making it to every soccer game, helping with every project — has very little; as long as you’re not violent/abusive/neglectful, kids turn out fine.

Same thing with health: taking a walk will not have as powerful an impact as quitting smoking.

It’s no coincidence that those foundational moral laws, the Ten Commandments, consist almost entirely of “thou shall nots.” Don’t kill, don’t lie, don’t steal, don’t envy, don’t cheat, and your life is probably going to turn out alright.

You’ll never even get a chance to work on the higher “shalls,” if your life’s been wrecked by ignoring the “shall nots.”

Guys agonize over which college to go to . . . and then end up dropping out because they got a girl pregnant. They ponder the right career path . . . while racking up monumental debt that will limit their options. They want a rich family life. . . but marry someone who will preclude happiness in that area, and every other.

While we get so anxious trying to figure out the best, cleverest things to do, it’s really the things you don’t do — the bullets successfully dodged — that get you most of the way there. You win by not losing.

Or as billionaire investor Charlie Munger put it, “It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.”

I wrote about Charlie here.

As you can see, the stuff that you don't do can often be more important than the stuff that you do.

So, maybe I should change my philosophy to:

Wake up
Don't do stupid stuff
Go to sleep

Interesting days

Today - Dog Day, Cherry Popsicle Day, WebMistress Day and Women’s Equality Day

Tomorrow - International Bat Night, Burger Day, Banana Lovers Day, Pots De Creme Day, Petroleum Day, Tug-of-War Day and The Duchess Who Wasn’t Day

Next Wednesday - Global Talent Acquisition Day, Calendar Adjustment Day, V-J Day and Blueberry Popsicle Day

September 26 - Lumberjack Day, Human Resource Professional Day, Save Your Photos Day, Rabbit Day and Johnny Appleseed Day

Month long celebrations:

September 15 - October 15: Hispanic Heritage Month

Tuesday, August 25, 2020

Meet the speakers

Here are interviews with a few of the speakers from this year's 2 Day Virtual Relationship Marketing Grand Summit coming up Labor Day week. Click on the names to watch the interview. The descriptions are from the Event Details page for the RMGS.

First will be Bernadette McClelland:

Audiences that have had the privilege of hearing from Bernadette McClelland have identified her as “Real” and “Everyday.” Bernadette has the extraordinary talent of creating the mood of a one-on-one conversation with her listeners. An award winning sales executive from within Fortune 500 companies such as Xerox, CA, and Kodak, Bernadette has been recognized as one of the top 35 women in sales globally by Sales Hacker. Bernadette has been voted as one of the top 100 sales coaches globally and has written five books on sales and leadership. She also founded Women Who Sell, an Australian initiative for women in corporate sales. Bernadette has earned her diploma in psychology based learnings and neuroscience behaviors. She is truly an advocate for women in the salesforce.

Next is Jerome Gafford:

For Jerome Gafford, education and sales go hand in hand. Having earned his PhD in Business Administration and Marketing/Sales, Jerome is the founder and CEO of his business, The Sales Doctor, while also working as a Clinical Assistant Professor of Marketing at The University of Texas at Dallas. Jerome knows that “Healthy selling is happy selling.” It is his mission to help sales organizations achieve peak results through Customer-Focused Strategies. Jerome is skilled in training facilitation, professional speaking, sales enablement, sales training, sales presentations, sales operations, talent development, marketing, and Sales Effectiveness. With his no-nonsense style, Jerome is focussed on changing businesses to they can attract and retain more clients while driving more revenue and increasing productivity.

Followed by Larry Levine:

Larry Levine has 27 years of experience in B2B sales in the technology industry. Using his LinkedIn sales strategy, Larry was able to develop a $1.6 million sales pipeline at the Japanese OEM in Los Angeles. Now, Larry coaches B2B sales professionals to do what he did. Since 2015, Larry has coached both tenured reps and those just starting their career. Larry is also the best-selling of Selling from the Heart, which teaches readers to find their authentic self and bring that authenticity to the sales world.

Next up is Meridith Elliott Powell:

Meredith is an award-winning author, keynote speaker, and business strategist. She has a background in corporate sales and leadership with her career expanding over several industries including banking, healthcare, and finance. Meredith has used her unique skills and talents to work up from an entry-level position to earning a seat at the C-Suite table. She is a Certified Speaking Professional and is passionate about helping her clients learn the sales and leadership strategies they need to succeed in an ever-changing market.

There are other speakers described on the Event Details page, but I don't have interviews with them at this time. Watch for an update in the next week or so.

Interesting days

Today - Kiss And Make Up Day, Banana Split Day and Whiskey Sour Day

Tomorrow - Dog Day, Cherry Popsicle Day, WebMistress Day and Women’s Equality Day

September will be Sepsis Awareness Month, Friendship Month, Sourdough September, Chiari Awareness Month, Read A New Book Month, Ovarian Cancer Awareness Month, Pulmonary Fibrosis Awareness Month, Suicide Prevention Month, Shake Month, Sewing Month, Childhood Cancer Awareness Month, Hunger Action Month, Happy Cat Month, Honey Month, Chicken Month, Piano Month, Preparedness Month, Library Card Sign-up Month and Mushroom Month

Next Tuesday - Building and Code Staff Appreciation Day, Tofu Day, Ginger Cat Appreciation Day, Letter Writing Day, Emma M Nutt Day and Cherry Popover Day

September 25 - World Dream Day, Hug a Vegetarian Day, Fitness Day, German Butterbrot Day, Better Breakfast Day, Binge Day, Cooking Day, Psychotherapy Day, World Pharmacists Day, Love Note Day, One-Hit Wonder Day and Comic Book Day

Month long celebrations:

September 15 - October 15: Hispanic Heritage Month

Monday, August 24, 2020

How to help save the post office, as well as battered and abused women

I posted this on Facebook yesterday:

And here's the FB Live that I did that evening:

There are several ways that you can help save the post office, including buying a sheet of stamps from the post office, as stated in the post above, but there's only one way you can help save the post office, as well as helping save battered and abused women!

By signing up for a $97 per month subscription to SendOutCards as my customer and sending 180 cards during the month, the post office will receive $99 in postage from SendOutCards and I'll also send a copy of the book "From Beaten to Badass" in your name to a woman's shelter. This is an ongoing offer but if you sign up or upgrade to a $97 account before the end of this month, I'll match that and send another book to a shelter...so for $97 you'll get $50 worth of books sponsored and if you send your 180 cards (that's 6 cards a day for 30 days), the post office will get $99.

With a $97 subscription, you can send unlimited heartfelt cards during the month...that is a one off card to one person (and postage is included anywhere in the world). You can't send the same card to 180 people and have it included in your free cards.

Here's the link to see a description of the different subscriptions and the difference between heartfelt cards and system send cards.

You can cancel your subscription at any time.

Note: the post office gets paid $0.55 for every card you send...if you don't send cards the post office won't get paid.

Interesting days

Today - International Strange Music Day, Knife Day, Peach Pie Day, Internaut Day, Pluto Demoted Day and Vesuvius Day

Tomorrow - Kiss And Make Up Day, Banana Split Day and Whiskey Sour Day

Next Monday - Trail Mix Day, Overdose Awareness Day, We Love Memoirs Day and Love Litigating Lawyers Day

September 24 - Lash Stylists’ Day, Remember Me Thursday and Cherries Jubilee Day

Month long celebrations:

September 15 - October 15: Hispanic Heritage Month

Saturday, August 22, 2020

Your weekend guide to interesting days - August 22, 2020

This week

Sunday - Surveillance Day, Rollercoaster Day, Tell A Joke Day, Airborne Day, World Bratwurst Day and Rum Day

Monday - Thrift Shop Day, Vanilla Custard Day and Black Cat Appreciation Day

Tuesday - Bad Poetry Day, Never Give Up Day, Pinot Noir Day, Serendipity Day and Mail Order Catalog Day

Wednesday - International Orangutan Day, Photography Day, Potato Day, International Bow Day, Humanitarian Day and Aviation Day

Thursday - International Day of Medical Transporters, Chocolate Pecan Pie Day and World Mosquito Day

Yesterday - Senior Citizens Day, Poet’s Day, Men’s Grooming Day and Spumoni Day

Today - Be An Angel Day, Eat A Peach Day, Pecan Torte Day and Take Your Cat to the Vet Day

Next week

Tomorrow - Ride the Wind Day, Valentino Day, Cuban Sandwich Day and Sponge Cake Day

Monday - International Strange Music Day, Knife Day, Peach Pie Day, Internaut Day, Pluto Demoted Day and Vesuvius Day

Tuesday - Kiss And Make Up Day, Banana Split Day and Whiskey Sour Day

Wednesday - Dog Day, Cherry Popsicle Day, WebMistress Day and Women’s Equality Day

Thursday - International Bat Night, Burger Day, Banana Lovers Day, Pots De Creme Day, Petroleum Day, Tug-of-War Day and The Duchess Who Wasn’t Day

Friday - Bow Tie Day, Daffodil Day, Cherry Turnover Day, Crackers Over The Keyboard Day, Rainbow Bridge Remembrance Day, Radio Commercials Day and Race Your Mouse Around The Icons Day

Saturday - Franchise Appreciation Day, More Herbs, Less Salt Day, Potteries Bottle Oven Day, Individual Rights Day, Chop Suey Day and Lemon Juice Day

Next month

September 16 - Guacamole Day, Play Doh Day, Teenager Workout Day, Working Parents Day, Collect Rocks Day, World Ozone Day, Stepfamily Day and Cinnamon-Raisin Bread Day

September 17 - International Country Music Day, Get Ready Day, Table Shuffleboard Day, Locate An Old Friend Day, Monte Cristo Sandwich Day, Apple Dumpling Day and Constitution Day

September 18 - Tradesmen Day, Cheeseburger Day, Hug Your Boss Day, First Love Day, Concussion Awareness Day, Grenache Day, Hug A Greeting Card Writer Day, Respect Day and Water Monitoring Day

September 19 - Talk Like A Pirate Day, Read An Ebook Day, Butterscotch Pudding Day, Gymnastics Day, Coastal Cleanup Day and Eat An Apple Day

September 20 - Wife Appreciation Day, Punch Day and Pepperoni Pizza Day

September 21 - World Alzheimer’s Day, Escapology Day, World Gratitude Day, International Day of Peace, Miniature Golf Day and Pecan Cookie Day

September 22 - Business Women’s Day, World Car Free Day, Doodle Day, White Chocolate Day, Hobbit Day, Ice Cream Cone Day, Dear Diary Day, Elephant Appreciation Day, World Rhino Day and Chainmail Day

Month long celebrations:

September 15 - October 15: Hispanic Heritage Month

Friday, August 21, 2020

The week in review - August 21, 2020

Monday - "How to Design Conversations That Matter" From The Art of Manliness. "I'm sure most, if not all, of us could use some help with our conversational designs."

Tuesday - "How Conversation Builds Character" More on conversations. "Character is something that's seriously missing in today's society."

Wednesday - "Payroll tax" A continuation of last week's post on Social Security. "For our discussion we'll be talking about Social Security since that's what the payroll tax cut is about."

Thursday - "Relationship Marketing Grand Summit Recap - Part 2 #TBT" The 2nd annual event is coming up. "Many of the same people are presenting this year. I'll share their interviews next week so you can get a sneak peek at this upcoming event."

Interesting days

Today - Senior Citizens Day, Poet’s Day, Men’s Grooming Day and Spumoni Day

Tomorrow - Be An Angel Day, Eat A Peach Day, Pecan Torte Day and Take Your Cat to the Vet Day

Next Friday - Bow Tie Day, Daffodil Day, Cherry Turnover Day, Crackers Over The Keyboard Day, Rainbow Bridge Remembrance Day, Radio Commercials Day and Race Your Mouse Around The Icons Day

September 21 - World Alzheimer’s Day, Escapology Day, World Gratitude Day, International Day of Peace, Miniature Golf Day and Pecan Cookie Day

Month long celebrations:

September 15 - October 15: Hispanic Heritage Month

Thursday, August 20, 2020

Relationship Marketing Grand Summit Recap - Part 2 #TBT

Today's blog post was originally published last year. This year's event is coming up in just under 3 weeks!

The second day of the Relationship Marketing Grand Summit took place on Friday, August 9, 2019.

The morning session was a continuation of part 2 of the book, The Power of Human Connection, How Relationship Marketing works within the traditional sales and marketing process.

The first speaker of the day was Lee Salz, author of several books including Sales Differentiation.

Some highlights from Lee's presentation:

"I'm the best sales consultant in the world"

How would you describe Lee based on his statement

Jackass
Arrogant
Cocky
Full of himself

Your customers feel the same when you talk about your company or product in that way

You turn people off when you do that
Instead of differentiating yourself, you sound like every other salesperson

Instead, share differences that others have found meaning ful and let the prospect decide if they are meaningful to them
Let your clients describe you as the best
We don't sell solutions, we build them based upon our conversation with the prospect
Two parts of sales differentiation

What you sell

Picking up poop

Differentiator - disposing of poop

How you sell

Highlight that you dispose of the poop
College had a reserved parking spot for campus visit
How you sell, not just what you sell, differentiates you

74% of buyers choose the sales rep that was the FIRST to add value and insight
To find more clients like your best ones, ask them..."If you were me, what:

associations
conferences
events

should I attend to meet more people like you?"
Every salesperson is your competition, whether your direct competition or not because you're competing for the same person's time
Propose an agenda, don't set one:

"For this to be a good use of your time, what do you want to be sure we discuss?"

Send a recap email:

Meeting highlights
Your differentiators
Action items/next steps
Send a card!

You can hear Lee's poop story on his interview with Kody.

Next up was Mark Hunter, author of several books including High Profit Prospecting.

Here are some highlights from Mark's presentation:

It's about the people, not the sale
When we prospect with integrity, we find customers with integrity
When you meet with someone, your goal is to earn the right to meet with that person again
We overcomplicate things
Low price = low trust

Trust is currency
C+C=C=O=P

Continuity+Competence=Confidence=Opportunity=Profit

Connect 5 people to 5 other people in your network every week

You can watch Mark's interview here.

Mark was followed by Andrea Waltz and Richard Fenton. authors of Go for No.

Highlights from their presentation:

Fear of failure/fear of rejection
What did the customer say no to?

How do you know the customer is done unless they say no to something

Fail your way to success
Model of success and failure is not

Failure <- -="" you="">Success

You -> Failure -> Success

To be a bigger success, you must fail more
Set no-goals instead of yes-goals
In terms of presentations, quantity beats quality
No doesn't mean never...it means not yet
Statistics:

44% of people give up after 1 "no"
22% more give up after the 2nd "no"
14% more give up after the 3rd "no"
12% more give up after the 4th "no"
92% give up before getting to the 5th "no"
However, 60% of customers say no four times before finally saying yes

That completed the morning session and part 2 of the book.

Here's the interview with Andrea.

The afternoon session focused on the third and final part of the book...Why the Relationship you build with Yourself is the most Important.

I was afraid of this! The access to the replays expired today! The best I can do now is give links to their websites and the interview with Kody!

The first speaker of the afternoon was Meridith Elliott Powell, author of several books including The Best Sales Book Ever. And here's the link to her interview.

I'm not sure of the order now, but these are the speakers that were scheduled to talk:

Jeb Blount, author of several books including Fanatical Prospecting. Jeb's interview.

Jordan Adler is the author of a couple of books including Beach Money. Jordan's interview.

Thanks Dave Smith for sending me your slides from your Sendogo presentation!

Modern Marketing Problem

Massive digital assault on customers

Constant requests for new business, electronic surveys and impersonal requests for information

Lack of "relationship development" can erode benefits of high tech/social media lead generation process

Solution

Implement customer relationship development process

Increase customer retention
Increase referrals
Increasee sales
Increase CSI

Sendogo offers premier "relationship management" service that runs within your preferred CRM

Convenience while offering personalized physical cards and gifts
Sendogo puts the "Relationship" in CRM
Currently works with Salesforce, other CRMs being added
Sendogo mastered the balance between automation and personalization

Dave then offered a demo of Sendogo...really cool!

You can send Impressions (cards) directly from your CRM...or you can send Impression Packs (a card and a gift). Check out the website for samples of Impressions and Impression Packs, and pricing.

Here's Dave's interview with Kody.

Gayle Zientek. You can read articles by Gayle at that website. Gayle's interview.

Many of the same people are presenting this year. I'll share their interviews next week so you can get a sneak peek at this upcoming event.

Interesting days

Today - International Day of Medical Transporters, Chocolate Pecan Pie Day and World Mosquito Day

Tomorrow - Senior Citizens Day, Poet’s Day, Men’s Grooming Day and Spumoni Day

Next Thursday - International Bat Night, Burger Day, Banana Lovers Day, Pots De Creme Day, Petroleum Day, Tug-of-War Day and The Duchess Who Wasn’t Day

September 20 - Wife Appreciation Day, Punch Day and Pepperoni Pizza Day

Month long celebrations:

September 15 - October 15: Hispanic Heritage Month

Wednesday, August 19, 2020

Payroll tax

The payroll tax has been in the news quite a bit recently, but what is it?

According to Investopedia:

A payroll tax is a tax withheld from an employee's salary by an employer who remits it to the government on their behalf. The tax is based on wages, salaries, and tips paid to employees. Payroll taxes are deducted directly from the employee's earnings and paid directly to the Internal Revenue Service (IRS) by the employer. In the United States, payroll taxes are divided into three main categories: Federal income, Medicare, and Social Security. The government also collects money for federal unemployment programs.

For our discussion we'll be talking about Social Security since that's what the payroll tax cut is about. I talked about Social Security last week.

More from Investopedia:

Federal payroll taxes cover Social Security and Medicare contributions, which constitute the Federal Insurance Contributions Act (FICA) tax. An employee pays 7.65%. This rate is divided between a 6.2% deduction for Social Security on a maximum salary of $137,700, while the other 1.45% goes to Medicare. There is no salary limit on Medicare, but anyone who earns more than $200,000—or $250,000 for married couples filing jointly—pays another 0.9% for Medicare.

The employer pays a matching amount into both programs

This article from Kiplinger talks about the payroll tax cut:

Since negotiations for another stimulus bill are going nowhere, President Trump issued a series of executive orders to help financially distressed Americans. One of the executive orders (actually an executive "memorandum") suspends the collection of Social Security payroll taxes from September 1 until the end of the year for workers making less than $4,000 for any bi-weekly pay period (that's $2,000 per week, or $104,000 per year).

There are plenty of lawmakers on both sides of the aisle who don't favor a payroll tax cut (or deferral). It's not enough and doesn't benefit people who need help the most, they say. It's also possible that employers won't comply with the executive order and that the deferred taxes will still have to be paid later.

Why wouldn't employers comply with the order?

The executive order only defers Social Security payroll taxes – it doesn't eliminate them. It would take Congressional action to actually wipe out the tax debt. As a result, some employers might continue to withhold Social Security payroll taxes from their workers' paychecks to avoid a large bill when the taxes eventually become due (a bill that they could have to pay themselves or by withholding a large amount from paychecks later). Mnuchin has also acknowledged that the president's order doesn't force businesses to stop withholding the tax. Many employers are expected to wait until the IRS issues guidance on the deferment before deciding whether or not to halt Social Security tax withholding.

The president's order also directs the Secretary of the Treasury to "explore avenues, including legislation, to eliminate the obligation to pay the taxes deferred," and Trump said he would "terminate" the suspended taxes if he's re-elected. But at this point there's no telling if the eventual payment of the deferred taxes will ultimately be avoided.

So, how much will this tax deferral save you? Again, from Kiplinger:

Under the president's executive order, your share of Social Security taxes (6.2%) won't be taken out of your paycheck if your pre-tax bi-weekly salary is $4,000 or less. So, for example, someone making $10 per hour and working 40 hours per week will get about $25 more per week, or around $100 per month. From September through December, that will add up to about $446. A full-time worker making $15 per hour would get approximately $37 more per week, $149 more per month, and $670 by the end of the year. For someone making $25 per hour, the savings will be about $62 per week, $248 per month, and $1,116 through December.

Since the executive order doesn't apply to bi-weekly wages above $4,000, the maximum tax deferral is $124 per week, which would add up to $2,232 from September 1 to December 31. (That's based on 40 hours per week at $50 per hour.) The $4,000 cap also means that the $137,700 wage base limit for Social Security taxes doesn't come into play.

Since the goal is to quickly get more money into the economy, critics claim that the infusion of cash into the economy would come too slowly from a payroll tax holiday. Instead, many lawmakers and experts would prefer another round of stimulus checks to get more money, more quickly into consumers' hands.

It's not a huge amount of money, but if you're working it'll help a little. But what about if you're not working?

Obviously, you have to get a paycheck to benefit from a payroll tax cut. So, if you're unemployed, retired, a stay-at-home parent, or don't have a job for some other reason, then the payroll tax holiday won't help you. This is one of the chief concerns among Democrats (and some Republicans), who believe the people who need support the most aren't helped by a payroll tax cut. Many of them would rather see expanded unemployment benefits and assistance to state and local governments instead.

But what does the payroll cut mean for Social Security?

There's also concern about the impact on the Social Security trust fund, which is already dealing with financial issues. Since payroll taxes fund Social Security, many people are worried about the long-term effects of diverting money away from this social safety net for seniors.

Treasury Secretary Steven Mnuchin, however, says that Social Security funding won't drop. Money will be transferred from the federal government's general fund to the Social Security trust funds to cover any payroll tax amounts not collected, according to Mnuchin. That would likely add more to the nation's debt, though.

Here are some numbers on the treasury from Datalab:

In 2019, the federal government collected $3.5 trillion in revenue.

In 2019, the federal government spent $4.4 trillion.

In 2019, the federal government spent $984 billion more than it collected, resulting in a deficit.

By the end of 2019, the government had $22.7 trillion in federal debt.

To pay for a deficit, the federal government borrows additional funds, which increases the debt. The total debt that the federal government owes is essentially the accumulation of deficits over time, minus debt repaid by any surpluses, plus debt that the Treasury owes to other parts of the federal government. Other activities contribute to the change in federal debt, such as changes in the Treasury's operating cash account and federal student loans.

And this was before all the additional trillions of dollars so far from the pandemic. So, where will the money from Social Security come from? And what will happen if the cuts are made permanent?

From CNBC:

President Donald Trump’s executive order calling for a payroll tax holiday is prompting many to ask: What does that mean for the future of Social Security?

Whether the president’s move ultimately will hurt the program depends on who you ask.

Payroll taxes are taken from both employers and workers to help fund government programs such as Social Security and Medicare. Currently, employers and workers each pay 6.2% towards Social Security, or 12.4% total. The Social Security payroll tax phases out for incomes above $137,700.

Trump announced on Saturday that he plans to put a temporary payroll tax holiday in place for workers who make less than $100,000 per year. The tax suspension would likely run from as soon as August through the end of the year, he said.

“If I’m victorious on November 3rd, I plan to forgive these taxes and make permanent cuts to the payroll tax,” Trump said.

The move comes as Covid-19 has made Social Security’s already limited funds more vulnerable.

The Social Security Administration’s most recent projections indicate the program’s combined trust funds will run out in 2035, at which time 79% of promised benefits will be payable.

But that estimate was put out in April and did not take into account the effects of the pandemic. Other more recent estimates have predicted the funds now will likely run out sooner under current conditions, in 2032 or 2028.

Trump’s payroll tax cut, if made permanent, would make that happen even quicker, as soon as 2023, said Nancy Altman, president of Social Security Works, an advocacy organization.

Meanwhile, the Trump administration is arguing that the payroll tax cut would not affect the program’s funding.

“There would be an automatic contribution from the general fund to those trust funds,” Treasury Secretary Steven Mnuchin said in an interview on Sunday. “The president in no way wants to harm those trust funds, so they would be reimbursed, just as they’ve always been in the past when we’ve done these types of things.”

But Altman said she does not believe that would work.

Social Security currently has reserves of $2.9 trillion. Meanwhile, payroll taxes bring in $1 trillion per year.

I read somewhere that the current spending is also $1 trillion dollars a year. So, with no money coming in, the fund will dry up in three years.

“If he throws it until the end of 2023, then benefits will stop, because there’s not enough money in the accumulated reserve,” Altman said.

Using general revenue would take an act of Congress, she said.

″[Trump] certainly will make the case that he has the power,” Altman said. “It’s not clear to me that he has.”

There's more from this article, so be sure to check it out.

Interesting days

Today - International Orangutan Day, Photography Day, Potato Day, International Bow Day, Humanitarian Day and Aviation Day

Tomorrow - International Day of Medical Transporters, Chocolate Pecan Pie Day and World Mosquito Day

Next Wednesday - Dog Day, Cherry Popsicle Day, WebMistress Day and Women’s Equality Day

September 19 - Talk Like A Pirate Day, Read An Ebook Day, Butterscotch Pudding Day, Gymnastics Day, Coastal Cleanup Day and Eat An Apple Day

Tuesday, August 18, 2020

How Conversation Builds Character

Today's blog post is based on an article from The Art of Manliness and ties in with yesterday's blog post.

Character is something that's seriously missing in today's society.

Much has been said as to how a technology-driven reduction in our face-to-face interactions may be negatively impacting our physical health and mental happiness. In the absence of strong relationships, anxiety, depression, and likely certain diseases as well, have been on the upswing.

While the negative psychological and physiological effects which result from the loss of face-to-face conversation are worthy of continual cognizance, this trend begets another deleterious impact which goes overlooked: a diminishment in character.

While we often think of character as something that’s exclusively forged, if not in big crises, than in decisions with clear moral weight, it can in fact be developed in any of our ordinary, everyday activities. How we carry out everything we do, radiates effects both outwardly and inwardly. While this is true of any habit, it is particularly true of conversation. In fact, given its daily accessibility, its repeatability — allowing for practice, correction, refinement — and the numerous, varied virtues it calls upon and exercises, face-to-face conversation constitutes one of the best ways of training the human soul.

Below we illuminate the many qualities of character that can be built through active, effortful participation in conversation:

Self-Control
Focus
A Bias Towards Effort and Action
Calm Composure
Humility
Powers of Observation
Decreased Self-Absorption
Creativity
Courage
Curiosity and Openness
Generosity
Self-Awareness
Improvisation
Rightly Ordered Loves
Influence
Empathy
Ensouls Others

If you're anything like me, you noticed that almost all of that is lacking in our society, whether society in general or our elected officials.

With all the above qualities, the arrows of conversation work both ways.

Cultivating inner decorum leads to outward decorum. Generosity of spirit leads to generosity of speech. A well-ordered mind leads to a well-ordered exchange.

At the same time, as conversations call upon qualities of patience and courage, effort and creativity, humility and influence, these virtues are honed through practice.

Conversation then both requires character, and refines it. Available to us daily, such exercise strengthens the soul of the individual, and the heart of society. The health of family, town, state, and country, ultimately emerges from the skill and art, the power and pleasure, of one-on-one exchanges.

Be sure to read the article since he delves into each of the above qualities.

Interesting days

Today - Bad Poetry Day, Never Give Up Day, Pinot Noir Day, Serendipity Day and Mail Order Catalog Day

Tomorrow - International Orangutan Day, Photography Day, Potato Day, International Bow Day, Humanitarian Day and Aviation Day

Next Tuesday - Kiss And Make Up Day, Banana Split Day and Whiskey Sour Day

September 18 - Tradesmen Day, Cheeseburger Day, Hug Your Boss Day, First Love Day, Concussion Awareness Day, Grenache Day, Hug A Greeting Card Writer Day, Respect Day and Water Monitoring Day

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