Friday, March 27, 2015

Will GOP support tax break for those who don't vote GOP?

Will GOP support tax break for Dem’s middle class?
Most corporations pay ZERO tax. Obama wants to bring corporate cash home. Hoping to avoid taxes, the top 500 companies have stashed more than $2 trillion in earnings overseas and at least $690 billion outside the U.S. Wish we could! Since they DO NOT pay their fair share, the middle class must pay the bill for 1.2 million military force—Germany, Japan, Social Security, Medicare, Medicaid, Veterans, subsidies to corporations—oil, gas, farms, and Congress people who hold “do nothing” jobs. Every year that Apple, Google, Facebook, etc don’t pay their fair share, the deficit rises. Average American tax rate is 32% while the rich pay only 15%.  It is Regressive.
Until GOP agrees, use the Tax Shelter for working people:

Is your broker/advisor a fiduciary? Is it important?
Our government wants those who advise us to pledge that they are acting in OUR best interests, not those of their employer. Sales organizations want to make a profit so they offer us products/services with built-in commissions, fees, and many other charges. But are we getting the best deal for us? Do we buy groceries on sale—the house brand—or the most advertised or hyped no matter what it costs? That is the question. Example: are we better off buying mutual funds that cost 0.05% or 1.5%? According to many studies and Warren Buffett, we will have more by paying lessFiduciary rules keep sellers honest. 
We don’t pay the extra charges with Buffett’s strategy:

Why don’t bankers/executives go to jail when they do bad things?
It is curious that when corporations do bad things and have to pay a heavy fine, the people who committed fraud, deception and whatever, never go to jail and the stockholders pay the fine. The perp walks Free and gets the bonus. When will stockholders (our mutual funds) STOP this trend? Citibank holders will decide to end this in April. A similar proposal for all corporations says: It’s only fitting for executives to hold themselves accountable for costly misdeeds, Mr. Zipes argues, even if they were unaware of them. After all, top managers often take credit — and receive bonuses — for positive corporate activities in which they had little role or knew nothing about.  BankAmerica holders are still paying for Countrywide’s Mozilo sins. It is about accountability and we all ultimately pay for the lawlessness of the individuals that have an incentive to cheat big time.

Why America needs regulation and accountability—no GM exec went to jail either
GM recalled 2.6 million vehicles for that faulty switch in 2014. G.M. originally tied 13 deaths to the defect, a count that has since risen to at least 67. The tally of deaths and injuries is expected to grow further but GM kept silent. Fines don’t raise accountability or dead victims.

IRS can’t even collect its own workers’ taxes
IRS says federal workers owe more than $3.5 billion in unpaid taxes. Almost 305,000 federal workers and retirees owed back taxes as of Sept. 30. Congress has not acted. About 5 percent of House employees owed back taxes, compared to just 3.5 percent of Senate workers. We have our salaries garnished if we don't pay but not if you know someone in Washington. 

GOP crazies
Senate leader McConnell says ObamaCare hurts the middle class and GOP will end it. Reason 1: Taxes will be passed on (new tanning salon tax?). 2. Coverage cancelled (inadequate plans eliminated). 3. ObamaCare is expensive ($100/mo?) 4. Meds will cost more (it's a for-profit industry!). 5. Govt controls care (actually, insurers decide our coverage). McConnell’s own Congressional Study says 12 million NOW have coverage and net costs will decline.

GOP budget would throw millions of Americans off health insurance, cut $4.3 trillion from programs like Medicare, food stamps and Medicaid. Education programs would be scaled back. Pell Grants for college students would be frozen. Wall Street regulations passed in the wake of the 2008 financial crisis would be scaled back. GOP leaves tax loopholes for the wealthy and corporations to avoid paying their fair share of taxes.
Death knells for middle-class Americans.

GOP lives by different rules
IL Rep Schock sought reimbursement for 172,520 miles on his car, despite the fact that he signed documents that certified the vehicle traveled less than half that distance. “In addition to staying at expensive hotels, Schock also has spent more than $90,000 in campaign dollars on private air charters, an unusually high sum for a rank-and-file member of the House.” He quit and hired TWO lawyers.

FL GOP Gov Scott has banned the words “global warning” to make problem disappear
Florida Department of Environmental Protection workers have been banned from using terms like 'climate change' and 'global warming,' according to FL employees. "Sea-level rise was to be referred to as 'nuisance flooding.’ " FL Pres Jeb Bush is a global warming "skeptic." FL Sen. Rubio said last year that he doesn't "believe human activity is causing these dramatic changes to our climate." However, Scott put $106 million in budget to protect homes and infrastructure. Sea-level rise alone threatens 30 percent of the state’s beaches, according to FCIR. Scott says he is not a scientist but he decided “global warming” does not exist.
GOP to vote Medicare increase March 2015
Congress is voting to raise our Part B and Part D premiums and increase deductible amounts that millions of seniors must pay. They're fixing the Medicare doctor payment system. They have failed 18 times in 12 years since lobbyists control funding decisions. Half of Medicare beneficiaries have incomes less than $23,500. Many are already struggling to afford health care, groceries, utility bills and more, and rely on Medicare to help afford essential treatment. But they don’t pay for elections. Medical lobbyists do. Follow the money.

GOP President Ted Cruz–the “Wacko bird” or New McCarthyism?
Cruz led a shutdown of the federal government in October 2013. Will he close the WH and run America from his Texas ranch? Will he continue to pay farmers to grow ethanol? Cruz's wife, Heidi, a managing director at Goldman Sachs in Houston, will campaign for privatizing EVERYTHING. But sheneeds the ObamaCare insurance that Ted wants to kill. Cruz target: half of the voters in the Iowa caucus are expected to be evangelical Christians. Cruz version of Christianity is like Sharia Law. Cruz put the ‘graven image’ of the Ten Commandments at the Texas Capitol. Sen John McCain called him a "wacko bird." Cruz reads "Green Eggs and Ham" on the Senate floor. Cruz was born in oil field in CANADA to Cuban/American parents. Cruz will have new book: "A Time for Truth." God save US.
Opposes tax increases on any income bracket
• Supports audit of the Federal Reserve by own wife’s firm-GS-costing taxpayers $100 million
• Supports single-rate tax system which means rich pay less and we pay more
• Strong opponent of Affordable Care Act (known as "Obamacare")
• Supports raising the eligibility age for Medicare
• Supports raising the retirement age
Supports private retirement account option for Social Security

Countries that tried privatizing Social Security
11 countries have gone back on private plans. Money managers were taking high fees. Governments instituted private accounts and then after citizens saved, took the balances. Poland started in 1999 and in 2014 “seized more than HALF the assets.” Hungary and Argentina cancelled plans and used the money to pay current bills. Vote NO to privatizing in 2016.

Will your 401k be enough to pay for retirement?
The median balance for savers at Vanguard aged 55 to 64 in 2013 was $76,381. Assuming they reach $100,000 by the time they claim full SS benefits at 67, the average income will be $4,000 per year plus SS income of about $16,000. Most people would find it difficult to live on $20,000 even if they owned their own home. Either folks will be moving to AR, IA or Argentina or investing $3,000 a year for 15 years to add $100,000 of Tax-Free income.
Invest in low-cost stock funds for the long-term:

Cars to avoid according to CR
Consumer Reports tested these vehicles with the lowest test scores.

More cuts to employer-paid retiree’s health care
California's struggling to pay for health care for retired state employees, with an estimated $72 billion in medical costs coming in the next 30 years. Gov. Jerry Brown's solution: Make workers start contributing money to pay for the health care they'll need after retiring. Loss of pay raises will squeeze middle class more!

IRS reduced audits and tax assistance—more volunteers actually do IRS’s work
The 2014 Data Book contains charts that show trends, such as the decline in the number of audits and the decline in telephone and in-person tax assistance and increases in the use of online resources and volunteer tax assistance. Thanks to AARP volunteers who do 5 returns a day FREE. 

Is this what America has become?
A 13-year-old boy in Florida fatally shot his 6-year-old brother, wounded his 16-year-old brother and then killed himself on Wednesday during an argument over food, authorities said. Mom and 18-year old sib are not home in Tampa FL.
An “adult” with 4 kids leaves a loaded gun laying around for the kids to play with?

Who owns your account now?
LearnVest to Northwestern Mutual
Kraft food to Buffett’s Heinz : Kraft Heinz Company

SCAMS           Why are we still paying $700 Billion a year for WWII deployments? That is 27 cents of each dollar in taxes—the largest part of our money—and we aren’t even at war. We could pay off our debts and fix our schools, roads and bridges!
We are paying for 164,253 of our active-duty armed personnel to be in 150 countries around the world. We have about 50,000 in Japan and 50,000 in Germany.
Are we preparing for WWII again? There are 1,208,083[1] armed personnel in the United States. Our taxes pay for about HALF of the WORLD’s military expenditures every year. We have wasted $398.6 billion so far on the F-35 program—they can’t fly safely.
We just can’t afford to pay for everyone else’s defenses anymore.
Japan, Germany and S. Korea can pay for their own defenses.
The War on Terror requires SEALS’ attacks on top terrorists at their homes. Iraq proved converting a nation to Western-style republic doesn’t work. Our trained troops ran away.
We are wasting $4 billion a year on Afgan tribal rivalries paying ransom to Al Qaeda.

Former IRS employees and hackers take our data
The GAO report says the IRS uses old outdated software without proper security functions. IRS passwords can easily be compromised, the report notes. Even worse, the report says the IRS does not always delete employee access when workers quit or are fired.

Congress people daily routine for “do nothing” job
Lobbyists breakfast meeting, gym workout, committee meeting BS, lobbyists lunch meeting, review lobbyist-written legislation, “dialing for dollars” separate lobbyists office (it's illegal to solicit campaign cash from the official congressional office), gym workout, lobbyists dinner meeting, lobbyists fundraising event—drinks all around, free flight home on Thursdays, return Tuesday, do again. It is considered poor form in Congress -- borderline self-indulgent -- for a freshman to sit at length in congressional hearings when the time could instead be spent raising money. “Call time”—dialing for dollars to wealthy and businesses takes 4 hours a day! Of course they never read the laws.

Lessons of war
Jim Clapper, Dir National Intelligence, admits we did not foresee that overnight, almost 5 divisions of US-trained Iraq’s army would literally melt away. We can’t “instill in any force, the will to fight.” It must come from “a cause of their own and we can’t impose it.”

New place to complain about financials.

Miracles do happen
Boy comes back to life after 30 minutes.

Who said women are underpaid?
Google's new CFO, Ruth Porat, gets $70 million pay package. It sure beats that old top-pay Morgan Stanley job.

41 Watchung Plaza, B242
MontclairNJ 07042

Friday, March 20, 2015

Is your tax bill fair?

Is your tax bill fair?
We must pay taxes on ALL income but corporations don’t have to. Our taxes pay for Microsoft, Apple, Oracle, Citi to hide income overseas. Corporations are people, my friend” except when it comes to taxes. They are people for influencing voting and buying US Congress people. Total corporate income stashed overseas to avoid taxes = $1.1 Trillion. The taxes could pay for 10 departments and programs we must pay for. 

GOP to repeal estate tax—a $21 Billion gift to rich—by cutting food stamps. Only GOP’s top donors pay this tax since exemption from tax is $10.86 million per married couple. We collect $21.5 billion a year from the estate tax. Poor will make up the $21 B. Is the tax system fair—
we pay 32% tax and rich pay 15% or less.

How many mutual fund managers beat the market index in the last 6 years?
NOT ONE! All that money we gave to brokers/advisors has been wasted. In fact very few have actually beaten the market in any year. Based on the findings of a particular study, no mutual fund manager has. You could have 17.69% per year.

Is a “separate account designed just for you” right for you?
Marketing securities is hard—you must cut through the clutter of messages trying to push our buttons of emotion. This one is called the “vanity” button. Sure, some guy will design a portfolio just for you but you are no different than everyone else. Everyone wants the “largest nest egg with little or no risk.” As Warren Buffett says, Rule 1: Don’t lose money, Rule 2: Dido. Buffett’s formula for becoming wealthy is simple: Buy a low-cost market index fund and do nothing else. When you pay more … you lose.

Just published!
The Warren Buffett Millionaire: “We make more money when snoring.”
Mr Buffett's strategy of patience has proven to be the most successful. He earns 19.7% a year compounded over time. He does NOT trade or speculate. He holds companies for a long time. The average investor earned just 3.69% while the stock market earned 11.11% over the last 30 years. Dalbar. Most investors jump from one “popular” security to another just in time for them to go down. So they earn just 3.69%; paying more .... for less. Buffett has been patient for over 60 years: his $6,000 from paper routes has grown to $72 billions. You and I can become wealthy by following Buffett's advice. We don't need to trade or time our buys and sells. All we have to do is be patient. All we have to do is “snore”: do NOTHING

Tax preparer scams
Scam return preparers have told taxpayers to make the payment directly to them, even though they have health care plans. Preparers are targeting taxpayers with limited English proficiency. These preparers are asking for direct payment to them, but their reasons vary. Check the directory of tax preparers. Report bad behavior to the IRS on Form 14157, Complaint: Tax Return Preparer.

If you owe IRS and can’t pay

Is a car lease right for you?
The average monthly payment for a new car rose to a record-breaking $471 during the fourth quarter of 2013, according to Experian. That’s a huge sum of money to pour down the drain every single month. $471 per month could be worth $1,000,000 in 27 years when invested in a simple stock index fund. Car values fall 40% in the first 3 years so pick up your favorite ride for HALF price in a 2012 version. EG: A4 Quatt $23,000 on Rt 1 LawrencevilleNJ.

Are you paying too much for your 401k?
If your 401(k) plan has less than 50 participants, the fees you pay range from a low of 0.43% to 1.88%. The average is 1.44%. In terms of your final nest egg in retirement, that is $340,000 versus $500,000.

GOP crazies
Future President, NJ Gov Christie, made a quick settlement with ExxonMobil, taking $250 million instead of $9 billion. "Yes, Chris Christie, your amazing negotiating skills will get New Jersey a lot less money than almost everybody associated with this case, including Exxon, thought it would get," John Stewart said. Christie also diverted a lot of that money to balancing the state budget gap rather than paying for cleanup. Not surprisingly, Exxon made contributions to the Republican Governors Association that Christie chaired last year. Is Christie -- a potential 2016 Republican presidential candidate -- in bed with Exxon? "Christie said he was a great negotiator, he didn’t say which side he was working for," Stewart said. “The reported settlement is appalling and disturbing,” Mr. McKeon said. “The Christie administration appears more interested in rewarding Exxon Mobil — for whatever reason — than protecting taxpayers and our environment.”

GOP leader Cotton is an overnight STAR!
Sen. Tom Cotton wrote the controversial letter to Iranian leaders regarding ongoing nuclear negotiations. Like Trump, he has made a name by calling out the President of the United StatesA book is due. The Arkansas Statehouse introduced a bill that would let him run for the White House and Senate re-election at the same time! The letter signers probably broke the law--Logan Act of 1799 (fines and prison)—but the Supremes are GOP and will excuse them. Americans are signing petition to indict:

GOP leader Giuliani tells President he needs to “educate” blacks on crime
"It is the obligation of the President to explain ... that our police are the best in the world," Giuliani said, adding, "It all starts at the top. It's the tone that's set by the President." Rudi, please read the DOJ report —Your “best” police were ticketing ONLY blacks. The chief resigned

Future President Bush to Clinton: I deleted emails on my server too! HA HA
Jeb Bush has rebuked Hillary Clinton for her use of a private email account as secretary of state, holding up his own conduct as an example of transparency in government. But it took Mr. Bush seven years after leaving office to comply fully with a Florida statute requiring him to turn over his emails. Bush edited and deleted his too. He used his own server, too. C’Mon Man

Future President Rand Paul warns Jews and Blacks about US civil rights
Jews, Blacks Should Worry About Indefinite Detention—US could send minority groups to Guantánamo Bay detention camp without trial, Sen. Paul says. Is he making promise to the right?

GOP wants to gut food stamps and Medicaid for poor
“We have seen the overall unemployment rate fall, yet the number of long-term unemployed remains high.” Senate Republicans agree with this assessment, and hope to embed an overhaul of the vital nutrition program in the upcoming budget document. Translation: GOP will let states make the cuts after funding is slashed. Privatize Medicare and end ObamaCare. Increase tax breaks and defense industry for rich to “invest” overseas.

TX GOP wants women to prove gender to use bathroom
Law allows women to receive $2,000 if they find person in the "wrong" restroom.

DEM crazies
Sen. Bernie Sanders introduced legislation to strengthen Social Security. “The most effective way to strengthen Social Security for the future is to eliminate the cap on the payroll tax on all income above $250,000 so millionaires and billionaires pay the same share as everyone else.” So the wealthy have not been paying for Social Security for the last 70 years? What the ….  Congress cannot even fund Homeland, Coast Guard, Airports, and Secret Service. C’Mon Bernie.
DEMs don’t have a chance to ask wealthy to pay fair share now!

DEMs crazies
ObamaCare works despite negatives. Of those who purchased a plan through, 7.7 million, or 87%, qualified for an average tax credit of $263 per month. With that financial assistance, more than half (55%) paid $100 or less per month for health insurance. Insurers made providing reasonably priced plans possible, Kevin Counihan said. “We’ve made great progress making these plans more affordable,” he said. 90,000 Sears employees are finding it easier to shop for health care, are savvier about their coverage choices and finally understand the meaning of value since the 129-year-old retailer switched to a private health insurance exchange. Starwood Hotels & Resorts Worldwide is the latest big-name company to move its active employee base to a private exchange, joining other brand-name companies such as Time, Sears, Darden and Walgreens.

Did you pay a ACA health penalty on your taxes?
Avoid penalty by enrolling at The Special Enrollment Period begins today, March 15 and ends on April 30. During this time, you'll have the opportunity to enroll in health coverage for 2015 if you owe the fee.

Is “impact investing” right for you?
Since 2007, wealthy people have tried to organize their assets to cause positive society change. Impact investors expect organic food producers and renewable energy generators to do good as well as make financial returns. These investors expect public benefit and financial performance to be aligned. Socially responsible mutual funds are available too. Many not for profits and pension funds adopt this goal too. As long as the investment fees do not overwhelm the returns, you can accomplish both goals together. Compare Vanguard’s Top Ten to TIAA-CREF Social Choice Equity, which charges a mere 0.41% and beat the S&P by an average of 0.3 percentage point a year over the past five years and Domini Social Equity which costs 1.2%.

Is a pension advance program right for you?
Pension advances are when companies offer you money now in exchange for pension payments you receive later. Some companies also require you to buy expensive life insurance. Many people are looking for a pension loan in order to repair damaged credit and pay off existing debts. Loans don’t improve credit scores. NY Gov Cuomo accused some companies of "preying" on retirees and veterans by advancing sums that may actually be disguised, high-cost loans. Some states have outlawed programs to public-sector employees citing costs. Options counselor:

Is a hedge fund right for you?
Just say NO. Everest Capital, a hedge fund firm that counted George Soros and Nelson Peltz as early backers, is closing six of its seven remaining hedge funds. Many Hedge funds have lost money. Investments in plain stock market index fund doubled since 2006. See proof:

SCAMS           Why are we still paying $700 Billion a year for WWII deployments? That is 27 cents of each dollar in taxes—the largest part of our money—and we aren’t even at war. We could pay off our debts and fix our schools, roads and bridges!
We are paying for 164,253 of our active-duty armed personnel to be in 150 countries around the world. We have about 50,000 in Japan and 50,000 in Germany.
Are we preparing for WWII again? There are 1,208,083[1] armed personnel in the United States. Our taxes pay for about HALF of the WORLD’s military expenditures every year. We have wasted $398.6 billion so far on the F-35 program—they can’t fly safely.
We just can’t afford to pay for everyone else’s defenses anymore.
Japan, Germany and S. Korea can pay for their own defenses.
The War on Terror requires SEALS’ attacks on top terrorists at their homes. Iraq proved converting a nation to Western-style republic doesn’t work. Our trained troops ran away.

SS says they destroyed tape of 2 drunk agents hitting WH
Congress watched two inconclusive surveillance videos of two possibly drunk Secret Service agents crashing into a White House barricade earlier this month, but Secret Service Director Joseph Clancy said there's no other footage because it's their policy to destroy the tapes after 72 hours. "That doesn't make any sense to us," Congress said. Tape costs pennies a day.

New place to complain about financials.

CA to run out of water in 1 year—cost doubles
Why don’t they stop watering their lawns? Farmers get $700 per acrefoot selling water to rich Southerners INSTEAD of growing food for us.

Who owns your account now?
Everest Capital, a hedge fund firm that counted George Soros and Nelson Peltz as early backers, is closing six of its seven remaining hedge funds. Hedge funds have lost money.

41 Watchung Plaza, B242
MontclairNJ 07042