Friday, July 24, 2015

Our taxes support 965 large corporations NOT small business

Socialism for the rich?—Our taxes support 965 large corporations NOT small business
Most of the economic development dollars awarded and disclosed by state and local governments have gone to just 965 large corporations" -- not to the small businesses and startups that politicians so often pretend to care about. $110 billion -- or 75 percent of cumulative disclosed subsidy dollars -- are going to these 965 large companies. Fortune 500 firms alone receive more than 16,000 subsidies at a total cost of $63 billion. Additionally, eight out of the top 20 firms receiving U.S. taxpayer subsidies are not even U.S. companies, meaning American taxpayers are being forced to directly subsidize foreign firms.” Read
Why would right-wing “free market” activists like the Koch Brothers have to rely on $88 million worth of government subsidies (our taxes)?
We have been tricked! This is the new socialism: our government guarantees them extra profits.

This is how the wealthy avoid their taxes
They hire law firms that specialize in avoiding our tax system. The lawyers set up a “multigenerational trust that will avoid U.S. gift, estate and generation-skipping transfer taxes, avoiding repeated application of a 40% tax bite at each generational level for 1,000 years, or using a charitable trust that will provide an immediate income tax deduction equal to the size of the gift, while providing a sizable gift-tax-free remainder for children or other family members and achieving the client’s charitable goals. I look at both the client’s income and transfer tax exposures and attempt to optimize the overall tax savings. They also need to understand how “non-U.S. assets affect a client’s tax planning and be certain your U.S. solution does not create an offshore problem.”
Our “representatives” in Washington have provided all the tools the wealthy need. There are about 12,000 registered lobbyists so each “rep” has at least 25 to help make tax-avoidance laws.
You can’t afford the lawyers but you can afford your own IRS Tax-FREE account:

Which investments do you use to reach ANY money goal--car, home, college, business, retirement?
Use the Buffett strategy to reach your goals. My video 3 shows you which investments Buffett recommends to use given the amount you add monthly, the number of years and the average return on your investments. You can use a special TAX-FREE account to keep 25% more of your accumulations while being able to "borrow" from your account penalty and tax-FREE.

Would you rather have $250,000 today or $1,000 per month for the rest of your life?
Is a Lump-Sum pension buyout right for you?
This is the kind of deal many vested workers will by offered at work. More than HALF of workers take the deal but later regret it since they are not able to match the payout. Some are so bad to be banned. Most people can’t find the securities to safely withdraw $1,000 a month or don’t know how to make their money last forever. See your options:
The other problem is inflation—$1,000 only buys $500 worth in 25 years. If your family’s longevity is short, take money now. If not, make an inventory of other sources to decide if you will have enough. Take the money as a rollover IRA to control taxes and use the Vanguard Top Ten for growth and income.   

Will you have enough money in retirement?—add $250,000 in 15 years
This video shows you how much you will have in the future given the amount you add monthly, the number of years, and the average return on your investments. You estimate your Social Security benefits and add your current accumulation at work or IRA. The answer is translated into the inflation-adjusted amount you can receive in retirement. Interactive so you can change your future income now!

Since many people have not found full-time work after looking for a year (despite Bush’s thinking we need more hours) you need to consider this “new start” move. Medical expenses not covered by insurers or job have put huge debts in collection with no way out.  Make sure you know what will happen—student loans not covered, credit score decline, court/lawyer costs, psychological toll—balanced by no more threats and calls from collectors. You may find that the stigma in your head is greater than the experience. Get facts:

Real estate is NOT making us rich despite popular myth
Trump’s prominent self-promotion—“I’m rich”—based upon his own evaluation and 3 previous bankruptcies, leaves you to wonder. First, his Dad made the fortune in real estate. But according to his own $10 billion estimate, Don would have been better off by just leaving his money in a stock index fund. An analysis shows he would have $20 billions by now.
If you don’t have the Don ego, use the Buffett’s strategy:

Best investments that regular people made
Morningstar, the unbiased fund rating firm, asked readers to share best investment of their life. Vanguard’s index and managed funds were mentioned with Fido’s Magellan. Vanguard Health Index came up the big winner. See if your advisor’s choices made the list:
Don’t get stuck with average investor returns of 3.79%--earn market index of 11%:

Your TurboTax return may never return
If you used the desktop version of TurboTax during the most recent tax filing season and backed up your return online, you may want to make sure you have a copy of it stored on your computer.
Turbo told desktop customers that it is discontinuing a service that allowed them to store a copy of their return on TurboTax’s cloud system. Users have until July 21 to gain access to their tax returns on the cloud and resave them on their own computer if they need to do so. It is the target of every hacker. There are better and cheaper alternatives. IRS-approved sites may be FREE too:

GOP crazies
Trump attack on McCain’s war record may make him The Ugly American
GOP will arm recruiters for next shootout. Stay away from malls as they become battlegrounds.  According to his Selective Service records, Trump received four student deferments between 1964 and 1968 while in college and an additional medical deferment after graduating. Trump graduated from the University of Pennsylvania's Wharton School in 1968. The lottery occurred in December 1969, conflicting with Trump's recollection of the event.

GOP holding up meals on wheels and other services to those in need
Today, the groundbreaking law has a new problem: we are now more than four years late in renewing it. This is especially hard to explain when one considers the bipartisan, non-controversial nature of previous reauthorizations, including the last successful one in 2006 led by a Republican Senate.
The Older Americans Act matters because of what it provides and the outcomes it produces. Its programs and services have achieved the main goal of the Act when it was passed — to allow older adults to remain independent, either in their community or in their homes. It is worth noting that the Act, by law, targets its services to those in the greatest economic or social need, with particular attention to low-income minorities, rural residents and those with limited English proficiency.
Will GOP help those in need or keep spending for corporate, oil, cotton, and agribusiness subsidies?

Jeb wants to end Medicare—let seniors try to buy insurance: that failed in the 60’s
Republican presidential candidate Jeb Bush said Wednesday that we ought to phase out Medicare. Bush praised Paul Ryan’s plan to change Medicare to a system that gives seniors medical vouchers instead of paying their bills directly. He also lamented that "the left" reacted with an ad showing a Paul lookalike pushing an old lady's wheelchair off a cliff. 52 million votes just went to Hillary

Jeb wants to “dock pay of absentee members" of Congress—a jab at his presidential rivals, like Marco Rubio who missed 29% of votes. Cruz has missed 24 percent of votes so far this year; Graham has missed 23 percent of votes. Of the Senate presidential hopefuls, Kentucky Senator Rand Paul, stands out for having made 99.9 percent of the Senate roll call votes this year. He missed just three this year.
Jeb, your bill will never even get out of committee let alone get a vote unless you make it a Constitutional amendment and we can all vote on it.

Christie on drugs: "I would nationalize the drug court system," Christie said, as he proposed a new bureau of national drug courts since “using is a disease.” GOP: NO!!!!

DEM crazies
Clinton challenges GOP fear of minimum wage growth in reversing income inequality. Studies show jobs are not lost when one state raises wages and another does not. KS recent tax-increase showed that cutting taxes on rich does NOT produce more jobs—they take the money offshore. More than 30 percent of men in their prime are either unemployed or earn less than what’s needed to keep a family of four out of poverty. That’s double the share of three decades ago. Wages flat as production soared. See Chart.
Congress has blamed Obama for reviving economy and income inequality since the Bush spending spree for 2 wars and 2 tax breaks for the wealthy.
Clinton is crazy to think Congress would change views now that corporations are free to spend UNLIMITED dollars on elections. Lobbyists have more direct influence on Congress now. 

Here is the score in US elections if you think money decides the winners!

Is it worth comparing insurance to save $500?
Google/compare uses 8 insurers including USAA to find better rates. You can buy only what you need to save each year. Use all the discounts available from each insurer to save more. For instance, you don’t need the death or health benefits if you already have coverage.

Are student loan debts destroying the middle-class?
Among debtors filing for bankruptcy with student loans, the average amount of student debt has doubled to nearly $31,000 in 2014 from $15,350 in 2005, according to an analysis by Professor Austin of Northeastern. But perhaps more important, student loans as a percentage of the filer’s annual gross income have also increased substantially. In 2014, 16 percent of all bankruptcy filers had student loans that totaled more than 50 percent of their annual income, compared with 5.4 percent in 2005. Fewer good jobs make payoff harder. High levels of education have offered no guarantee of rising incomes — for example, wages of recent college graduates, adjusted for inflation, have been flat for 15 years.
Before 1977, student loans could be discharged in bankruptcy alongside other debts like credit cards. In 1998, bank lobbyists made it almost impossible. All debtors must prove undue hardship to erase their student debts. Most people don’t even try because most judges use most severe test—no increase in income … ever.

Millions better off without medical debts leading to bankruptcy
9.4 million fewer families struggled to pay medical bills in early 2015 than just before the rollout of public exchanges and Medicaid expansion in 2013. The extent to which these findings were driven by coverage gains, an improving economy or other factors remains unknown. “It’s encouraging to see that fewer families report problems with medical bills, but at the same time it’s very clear that health insurance does not provide immunity from financial distress,” according to Katherine Hempstead, who directs the Robert Wood Johnson Foundation’s work on health insurance coverage. 

Is renting your home on Airbnb right for you?
Some may think renting your home to strangers is crazy. Well, it could be. The companies that make money from matchmaking homes don’t screen your renter so you must. Your homeowners insurance may not cover their damage either so consider a BnB policy. You may also need a visit to your accountant for a tax consult. Finally, the average earnings are only $13,000 so you might want to just rent a room to the local college student instead.
When you shop for insurance, buy only what you need:

Can a hacker make your Fiat Jeep car crash?
Yes. New cars are all electronics so read what can happen to some hackable cars. Fiat is offering a USB to fix it—perhaps—but you have to do the fixing. Fiat created the hackable code so would they know how to make code unhackable?

Is you’re A&P closed?
A&P and Pathmark released the list of New Jersey stores that would be closing in the wake of their parent company filing for Chapter 11 bankruptcy protection. Acme will buy some stores in NJ.

Do you “love” your car?
Porsche is first, Smart is last in buyer’s initial owner emotion study. Surprise: Subaru is #26 down the list despite TV adverts.

TN shooter got AK 47 assault weapon legally? They cost about $700 with free shipping.
Can the armed guards at TX recruiting centers fight off shooter with AK 47 and 30 round clips?  Another mass shooting in LA theater.

SCAMS           Can we afford to keep 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.
We are spending $8 million per HOUR on our wars in Iraq/Afgan

The War on Terror requires special forces attacks on top terrorists at their homes like Obama’s al-Amr May14 Abu killIraq proved converting a nation to Western-style republic doesn’t work. The troops we trained ran away, left our stuff. Training and more stuff for what? Former Saddam army now ISIS. We are wasting $4 billion a year on Afgan tribal rivalries; paying ransom to Al Qaeda; supporting corruption with our money.

We are building another military base for Japan at Henoko. Air Force Gen. Ronald Fogelman admitted that the Marines “serve no military function there. They don’t need to be in Okinawa to meet any time line in any war plan.”

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 to defend themselves.

FifeLock finally called out for lies
LifeLock was fined $12 million by the FTC in 2010 over charges of misleading advertising. The regulator took issue with LifeLock’s claim it was a 100% shield against identity theft. Now FTC says it violated 2010 order to clean-up act.

Dating a fraud?
Targets are women living alone, who say that the email and phone wooing forms a bond that may not be physical but that is intense and enveloping. Fake trust, urgency: Send cash now: $300,000. Look before you leap: lists red flags to look for to identify such predators.

Discover owes you money
Regulators require Discover to refund $16 million to consumers, pay a $2.5 million penalty, and improve its billing, student loan interest reporting, and collection practices. 

Your bank owes you money
About 7 million customer accounts were affected by Citibank's "deceptive marketing" practices, which included misrepresenting costs and fees and charging customers for services they did not receive.
JPMorgan Chase would pay $136 million and reform its credit card debt collection practices. JPMorgan was accused of relying on robo-signing and other discredited methods of going after consumers for debts they may not have owed and for providing inaccurate information to debt buyers.

Regulators fine FAFSA for misleading students.
Student Financial Aid Services, FAFSA, hit for illegal sales and billing practices—misleading information about the total cost of its subscription financial services and undisclosed recurring charges. $5.2 million will be distributed to harmed consumers. 

James R. Holdman, Baton Rouge, Greenwing Securities, in prison for 5 years and to repay victims $7.9 million was banned by SEC. He falsified statements.

Who owns your account now?
Cigna to Anthem
Health Net to Centene
Humana to Aetna
(Single payer in future?)

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