Friday, December 18, 2015

GOP becomes "spend and tax later" party

GOP becomes the ‘tax and spend’ party when in power
The new budget of $800 million is a violation of the GOP's usual policy of requiring any new spending to be paid for with cuts to other programs. Instead the party approved the tax breaks without offsetting the reductions elsewhere in the budget. Rich and powerful win tax breaks and DEMs can’t stop it. "Congress' capacity to govern remains disturbingly dependent on adopting measures the country cannot afford," Jason Grumet, president of the Bipartisan Policy Center, said in a statement. "This agreement would increase the deficit by roughly $800 billion, which is deeply troubling and weakens our nation future." GOP can’t resist spending on favorites!

Is being really really rich right for you?
Besides living out your fantasies, being rich can cost you a lot in many ways. You may become a nervous wreck. You may lose many of your true friends. You may lose a lot of money like these wealthy ones. Here are the mistakes many make: Too much of their money was tied up in one investment and too little of their money was in cash or some other liquid investment. And too often, they didn’t think enough about the likelihood that something could go wrong. When you are rich you think you are in control but life happens and oil drops 50%, mortgage finance explodes, restaurants get e-coli. Your fortune may come from a trend that has changed. By the time you realize you are not a god and must diversify like everyone else, it is too late. Trump has gone bankrupt many times because he did not see change coming. He had brick and mortar gambling and endless golf courses. But gambling went online and golfers are playing other games.

Is a mandated retirement fund right for you?
There are many financial experts that think the current 401k voluntary savings plans are inadequate for our futures. They say some us do not save enough, do not invest correctly, and do not maintain the investing routine long enough. Some think that wages are too low for savings. Others think we need to go back to the old employer pensions. Our government just started a new savings plan for workers who don’t have a 401k called myRA accounts. Our government is fighting Wall Street to institute the fiduciary rule that requires retirement account sellers to provide unbiased options. Of course the GOP Congress will never agree to any mandate so the best alternative is a massive financial education program in high schools. We could then choose our best option—a low-cost IRS-approved retirement account that provides income tax-FREE.
We have it already—the Roth IRA. We just don’t learn about it before we start work.

How the new fiduciary rule helps you and hurts Wall Street
DOL’s proposed rule change would allow advisors to continue receiving payments that could create conflicts of interest if they meet the conditions of proposed exemptions to the rule. But opponents of the proposal claim the rule would create costly and complex hurdles that could make commission-based individual retirement accounts economically unfeasible to serve. Yet we know low-cost index funds beat high-cost funds every time.
“It will drastically change how investment product distribution is done, how advisors are paid and how individual investors are served,” Michael Wong, Morningstar equity analyst and lead author of the report, says in an interview. The report says the proposed rule would create winners and losers in the financial services industry based on investment product choice and business models. 
You would be the winner and your commission/fee advisor would lose:

The top reality TV Show in AmericaNew show on Dec 15!

Does our President need to be rational and truthful?

            NO, the new GOP is entertainment like Apprentice—fake calamity for money!

Trump: I did not get $5 million for debate “show” but wait till I’m Prez.
             “I have far better judgment" than Cruz who is a maniac. I’ve got Putin’s vote.
            Will Canada take Muslims, immigrants, other non-Trump voters?
Christie: “I don’t believe Trump is a bigot.” “If your eyes are glazed over like mine”
            I am ready to shoot Russian planes and work with King Hussein (he died in ’99).
Cruz: I am a Flashdance Maniac. "Political correctness is killing people"
            “Donald Trump has made Cruz mainstream,” according to Heller (Nev).
Rubio: “That led to the chaos which allowed ISIS to come in”
Jeb: “Donald gets his military advice from "the shows"’ on Sunday TV
Carson: Let’s have a moment of silence for victims in San B. terrorists.

Hillary: Corporations have to pay taxes too no matter where they have offices. 
Obama: “We dropped 9,000 bombs last month and killed 7 ISIS leaders

GOP Koch Bros pay for elections but want to revive American Dream
Wealthy conservatives say poor people can learn to get by without the government. They are willing to spend money to prove it. Koch has called for the end of Socialism for the Rich in the past. However they continue to pull down government subsidies for many of their businesses. Talk is cheaper than hiring and training the poor. Koch tells Justice it is OK to reform sentencing criminals.
DEM Warren Buffett says the income of the wealthiest Americans has increased sevenfold but their tax rate has fallen to 16.7 percent. 
Build your tax-FREE fund with Buffett’s strategy:

Florida Key streets flooded for months; GOP says does not happen
Streets in the lowest-lying neighborhoods stayed inundated for nearly a month with 16-inches of saltwater. By early November, the roads finally dried up. But unusually heavy rains in December brought it all back again.
"Like a sewer," said Narelle Prew, 49, who has lived for the past 20 years in her four-bedroom home on Adams Drive, a waterfront lane lined by boat docks. "So far we have not been seeing buyers being concerned with sea level rise, which I'm a little surprised given all the media attention it has garnered lately," said Lisa Ferringo, president of the Marathon/Lower Keys Board of Realtors. Most are Republicans who say no warming.
A $400 million stormwater pump program planned for Miami Beach. Will GOP see man-made?

Can we help you with a financial problem?
We now have solutions to many of your questions about finances. Written by some of the best minds in financial services—from mutual funds and retirement income to long-term care insurance to best term coverage. See
Our authors can answer questions by email. E-mail:

Is investing in stocks after you retire right for you?
Many advisors and their clients seem to think that you should only hold fixed income accounts the day you retire. 50 years ago this was a wise decision because people did not live long after age 65 and brokers feared the client would complain about portfolio volatility. But ONLY stocks beat inflation--not bank CDs or bonds. One of you may live another 30 years so your liquid assets will be worth HALF after 20 years or so. If you can live on HALF your portfolio, cash and its equivalent are great. Most of us cannot afford this so we go with Warren Buffett’s advice. He made over 90% of his money AFTER age 50 in stocks.

Is your retirement plan rated in the top 30?
Large corporate 401Ks dominate the list including the oil and pharma companies. The best plans match your contributions and provide low-cost investment options. Cost is best predictor of investment success. If you do not receive a match from your firm, you may be better off starting your own tax-FREE plan. If you contribute $250 a month to a low-cost stock index fund like Vanguard’s 500 Index, you have a good chance of hitting $1 million by retirement. Using the tax-FREE plan, you can spend it all—no income tax on your 401K which could mean no income tax on your Social Security benefits.

Are student loan repayments a challenge?
Now you may qualify for lower payments. The newest income-driven repayment plan, Revised Pay As You Earn (REPAYE), became available to anyone with federal Direct student loans. Borrowers are now able to cap their monthly payments at 10% of their discretionary income, regardless of when they borrowed.

Regulators are the only protection we have since we can’t sue anymore
            “It is nearly impossible for one individual to take on a corporation with vast resources.”
               Supremes stop us from suing—State courts no longer available to sue corporations!
VW said manipulated software since 2005—what else did VW lie about?
GOP: pollution OK—Paris agreement "is subject to being shredded in 13 months."
CDC: doctors need to stop giving opioids--study says they increase deaths 16%.
EZCORP, a small-dollar lender caught for illegal debt collection like home visits.
Atlantic Asset Management caught putting “its own interests ahead of client interests” 
CarHop caught giving inaccurate negative credit information to bureaus on buyers.
T3Leads caught putting borrowers at risk of harassment and deceit.

We need regulation—GOP is wrong—companies would not fix bad products on own

Is the expensive but unreliable vehicle for you?
Even if you pay a lot for a vehicle, you may NOT get what you paid for. As with financial products, you don’t always get what you pay for. Annuities are expensive income accounts you can buy for 0.05% not 3.5% a year. Famous name-brand vehicles may be unreliable. For instance, Audi RS6 costs about $150,000 but is still has VW issue. Mini Cooper is cute but BMW left the quality behind. Mercedes-Benz CLA 250 is just cheap—rattles and squeaks. Volkswagen Beetle has harness problems just like my 1985 VW Golf did. Chevrolet Silverado is popular but suspension sucks just like the $100k Mercedes-Benz S-Class. Infiniti Q50 is $37 grand of problems. Unreliable group ‘winner’ is VW with its illegal software for diesels. Best cars:

Health care mandate penalties
“It’s important to remember that the final deadline to sign up for 2016 coverage through is January 31. If you don’t enroll by then, you could have to wait another year to get coverage and may have to pay the fee when you file your 2016 income taxes.” the CEO said. This year’s fee for no coverage is at least $695, or 2.5% of their annual household income for 2016.

Our ‘reps’ give big business a boost—HALF budget spent on killing machines!
“Major defense contractors Raytheon, Oshkosh, and Lockheed Martin assured investors at a Credit Suisse conference in West Palm Beach (last) week that they stand to gain from the escalating conflicts in the Middle East. The good news for the contractors is the latest budget deal authorizes $607 billion in defense spending. The budget deal in the making requires serious thought but the deficit will still rise because Bush tax cuts are not paid for and more companies are avoiding taxes. We sent guided missile frigates to Taiwan. 
GOP spends and raises taxes later!
Avoid paying for Washington’s bad judgment:

Special Inspector General John F. Sopko has spent years documenting waste, fraud and abuse in the U.S. military’s efforts to rebuild war-torn AfghanistanWe have spent $110 billion on reconstruction projects in Afghanistan. When adjusted for inflation, that total exceeds the value of the entire Marshall Plan effort to rebuild Western Europe, WWII.
=More than $8 billion in spending on counter-narcotics efforts in Afghanistan that have “failed by every conceivable metric. Afgans grow poppies like we grow corn.
=The purchase of nearly $500 million worth of airplanes that never could fly and had to be turned into scrap.
=Construction of a building that literally began to melt when it rained.
A $500,000 health clinic that lacked water and electricity. Newborn babies had to be washed in a nearby dirty river.
= Biden promised an additional $190 million to fight corruption in Ukraine's law-enforcement and reform the justice sector. 
=Navy's new $362 million ship broke down and had to be towed--lasted three weeks.
=VA keeps paying managers found guilty of retaliation on workers who complained.
=federal workers, who will get a 1.3 percent raise in 2016 but NOT for SS recipients???
=$400 million for new FBI HQ in VA or MD.
=IRS stopped from limiting political gifts from non-profits so rich can buy more votes.

French teacher made up story of ISIS attack—more to come?
Terrorists close 900 LA schools--more than 700,000 students at home. "These threats are made to promote fear...we can not allow us to raise the levels of fear," NYC police said.
            Florida Atlantic University fired a professor who called the shooting at Sandy Hook Elementary School an elaborate hoax. James Tracy, associate professor has written that although the news media reported that 26 people died in a mass shooting at the school in NewtownConn., the incident was staged.
Pharma millionaire raised price 5,000% then cries when his lawyer does same.

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