Sybil Wilkes 'What You Need To Know' 11.15.22

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1. Surprise! Not….Donald Trump Readies Re-election Run

What You Need to Know:

As promised last week, Donald Trump is expected to announce his third presidential run Tuesday.

“I’m going to be making a very big announcement on Tuesday, Nov. 15 at Mar-a-Lago,” Trump told the Ohio crowd while campaigning for Republican senate candidate J.D. Vance.

Political observers say Trump and his allies are hoping the new campaign will mute the support coming from the camps of Florida Governor Ron DeSantis following last week’s successful re-election.

2. Biden Gets Tough on China

WRITTEN AND CONTRIBUTED BY KHAMERON RILEY

What You Need to Know:

The White House has released a fact sheet detailing how the United States will strengthen its partnership with Indonesia.

This investment, totaling beyond half a billion dollars, will support Indonesia’s security and prosperity while working together to tackle the climate crisis, promote access to affordable food and energy, and strengthen pandemic preparedness.

This comes after President Biden met with China’s President Xi Jinping last week. The two leaders spoke candidly about their priorities and intentions across various issues, such as climate change, geo-political stability, and China’s human rights violations in Japan.

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3. China Tightens Restrictions as Rise in Virus Cases Reported

What You Need to Know:

Everyone in a district of 1.8 million people in China’s southern metropolis of Guangzhou was ordered to stay home for virus testing Saturday and a major city in the southwest closed schools as another rise in infections was reported.

Nationwide, a total of 11,773 infections were reported over the previous 24 hours, including 10,351 people with no symptoms. China’s numbers are low, but the past week’s increase is challenging a “zero-COVID” strategy that aims to isolate every infected person.

4. Black Man Denied Building Permits For 20 Years Does This in Response

What You Need to Know:

Terry Shropshire, a resident of LaFayette, Georgia who is Black, painted the words “white people parking only” on his property after being denied a building permit by the city of Lafayette for 20 years.

Shropshire planned to build a walk-up diner on his property. In response to being denied several times, Shropshire painted signs on his property, saying, “white parking only,” “white people parking only,” and “Black man can not open business. Different codes for different people.”

5. Bigger Social Security Wage Base?

WRITTEN AND CONTRIBUTED BY CATRINA M. CRAFT

What You Need to Know:

The Social Security Administration announced that the wage base for computing Social Security tax will increase to $160,200 next year. Wages and self-employment income above this threshold aren’t subject to Social Security tax.

For 2023, the FICA tax rate for employers is:

· 7.65% — 6.2% for Social Security and 1.45% for Medicare (the same as in 2022).

Employees will pay:

· 6.2% Social Security tax on the first $160,200 of wages (6.2% of $160,200 makes the maximum tax of $9,932.40), plus

· 1.45% Medicare tax on the first $200,000 of wages ($250,000 for joint returns; $125,000 for married taxpayers filing a separate return), plus

· 2.35% Medicare tax (regular 1.45% Medicare tax plus 0.9% additional Medicare tax) on all wages in excess of $200,000 ($250,000 for joint returns; $125,000 for married taxpayers filing a separate return).