Another billionaire explains how to avoid paying taxes
Oil and natural gas billionaire T. Boone Pickens said
Tuesday that
he hasn't paid federal taxes in the past three years, as he's used a tax
loophole similar to one believed used by Donald Trump. "Only
a fool gives the government money it doesn't have to," said billionaire
Leon Cooperman, who made his billions through Goldman Sachs. Last week, the SEC
charged Cooperman with insider trading, saying the
investor and hedge fund manager had used non-public information from a
corporate executive about an energy deal in 2010. Our “reps” in Congress are
giving billionaires these tax loopholes so they can use their bad business
deals to deduct money they didn’t even put into the deals. Most of us can’t
afford lawyers to create dummy business losses like billionaire business people
do. Now they say they resent being vilified for taking tax breaks on their bad
business decisions. They think they are heroes for making donations (Trump
does not actually give his own money. He uses Ebers’ money.)
Don’t be a "fool"—pay ZERO tax on your gains: https://www.amazon.com/Tax-Shelter-Young-Americans/dp/1500426520
Use your Tax Credits to avoid income taxes like Trump
Most of us receive only 4% of federal tax breaks like food
stamps and Earned Income Credit if you are poor or the property tax and
mortgage credit if you are middle class.
The Tax-Credit class pays less income tax with capital gains
and dividends because it is “unearned.” So if you actually work; you are taxed MORE. For instance, Warren Buffett pays 17% on
earnings while we pay 33% total tax. The tax-credit class pays
NOTHING on assets they got from a “rich uncle” and on their home when they
sell. Most of us don’t “itemize” so we lose all kinds of tax credits. The
Tax-Credit class takes off medical expenses, job hunting expenses, and work
expenses not reimbursed by others, deferred compensation (bonus and stock
portfolio worth more later), investment costs, investment losses, stuff they
lose, stuff they own. They can eliminate income tax by listing losses from
buildings, race horses, farms,
oil, leasing and businesses they own as partners, LLCs, C and S corps. Trump
actually deducted $916 million but most of it was other
people’s money. Some bank debt was cancelled which normally is taxable but
not after RE lobbyists got Congress to change rules in 1993. Trump is tax-FREE
for 18 years.
Use your Tax-Credits too: https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976
We could easily pay for all Social Security benefits and
Medicare coverage for all
Our reps decide to give The Tax-Credit Class special breaks we can’t use. By eliminating these entitlement programs for the 1 percent and multinational corporationsAmerica
could afford SS benefits and health insurance for all. Here are 10
Congressional programs that create Socialism
for the Rich and the amount we pay in taxes for them:
Our reps decide to give The Tax-Credit Class special breaks we can’t use. By eliminating these entitlement programs for the 1 percent and multinational corporations
1.
TAX BREAKS FOR OBSCENE CEO BONUSES ($7 BILLION/YEAR) They still get $ millions
salary.
2.
TAX CUTS FOR LUXURY CORPORATE JETS ($300 MILLION/YEAR) We pay for their rides.
3.
BIG OIL SUBSIDIES ($37.5 BILLION/YEAR) We no longer import oil or need
to find more oil here.
4.
PHARMACEUTICAL SUBSIDIES ($270 BILLION/YEAR) GOP Bush II gave them price
guarantee!
5.
CAPITAL GAINS TAX BREAKS ($51 BILLION/YEAR) Rich pay 17%: we pay 33%
total taxes.
6.
CORPORATE TAX SUBSIDIES FROM STATE/LOCAL GOVERNMENTS ($80.4 BILLION/YEAR)
7.
HANDOUTS TO BIG AG ($18 BILLION/YEAR) Family
farmers were bought out long ago; now wind.
8.
WELFARE FOR WALL STREET ($83 BILLION/YEAR) Fed guarantee interest rate makes
big bigger.
9.
EXPORT-IMPORT BANK SUBSIDIES ($112 BILLION) Boeing GE guaranteed profit
on sales.
10.
FEDERAL CONTRACTS FOR THE TOP 200 COMPANIES ($880 BILLION/YEAR) No risk biz.
Congress has made
the tax laws that create America’s
Socialism for the Rich. Congress people who want to cut
SS benefits and Medicare are playing politics. America
could afford to provide what we were promised but we don’t have lobbyists for a payoff.
Is a reverse mortgage right for you?
Financial sales people provide many positive details about
this mortgage—a debt that you don’t pay back until you die—but it is a costly
transaction all the same. Some observers say: A lot of clients still resist the
idea of a debt. You lose the feeling of independence. A borrower answers to a
bank system. Using a reverse mortgage to keep your investment portfolio may help
you but as debt it must be managed. Your advisor is not doing you a favor if
they don’t explain the debt load for years and the real costs. Remember, if you
already paid off a mortgage of $250,000 over 30 years, you gave up a total of $539,595.47
plus the total set up cost of $5-10,000. Since mortgage interest is deductible,
a HELOC may help now. It is cheaper and you are still in control.
Consider all your options for retirement income: https://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016
GOP will discard ballots with simple errors to support The
Don
OH GOP officials
are going to destroy ballots with no ZIP code or writing not in BLOCK
lettering and other simple errors. An appeal was denied by a judge who is
married to the GOP House Speaker William G. Batchelder. The period in which
voters are allowed to fix the form was cut from 10
to 7 days, and elections
workers were even barred from helping voters with the forms. Anything to
suppress the Dem vote. Even Ryan’s home county considering Hill. NH GOP Sen.
Kelly Ayotte says she is dropping her support for The Don. Carly Fiorina, Mike
Crapo of Idaho , Sen. Mike Lee of Utah ,
Rep. Barbara Comstock, Martha Roby of Alabama
say Donald Trump
should step aside. Many states do not allow write-in candidates for
president. Some GOP will go down with the ship. Others are burning up $45.8
million so far. Supremes decided to allow wealthy to decide vote. Only $7.1
million spent by the candidates themselves. OpenSecrets.org. In Nevada ,
labor unions and George Soros are up against Sheldon Adelson and gambling $.
GOP head Ryan
says he is repulsed by The Don’s comments but … not enough yet.
Is investment portfolio “rebalancing” a smart strategy?
Wall Street advisors recommend this periodic selling and
buying to keep your risk/reward balance of stocks and bonds where you want it
to be during your accumulation period. However, tests over a long time period
show that it may reduce your total accumulations. It may reduce your
accumulation because you must pay for transactions and because you may miss a
stock market’s boom. Rebalancing
tends to reduce your portfolio’s volatility (a standard deviation of 14.4%
with none versus 12% for the annually rebalanced portfolio). However if you
have 15 or more years before retirement, your reward for a Buffett buy and hold
strategy is 9% vs 8.5%.
Over time, this means $613,805.95 vs $546,116.39 from 250 a month for 33 years
of accumulations. If you use the dollar cost average strategy, you are already
reducing volatility by buying fewer shares when they cost more and more when
less. In retirement you will shift to lower risk and returns anyway to protect
your gains.
Use strong diversification instead: https://www.amazon.com/Dont-Re-balance-Your-Portfolio-Research/dp/1508802386
Best 2016 Sedans under $25,000
Kia
tops Accord and Camry on this list of 2016. Camry consistently holds its
value after 3 years over many studies. Most will make it to 100,000 miles but
are not the best deals for your money. JD Power dependability
study asks owners after 3 years. Malibu
and Sonata top rated.
GOP religion excludes immigrants from marriage too
LA GOP religionists have effectively made
it illegal for thousands of refugees to get married. Any foreign-born
person wanting to get married in Louisiana
must produce both an unexpired visa (even though a federal court has ruled that
marriage licenses cannot be denied based on immigration status), as well as,
somewhat inexplicably, a birth certificate. Many immigrants can’t produce birth
certificates since none were ever issued where they were born. Indeed, many people
born in LA have no certificate since they were born at home. Louisiana
‘Family’ Forum, which sponsored the law, claimed to be a voice for “traditional
families” — a category that, in 2016, apparently no longer includes immigrants.
Yet ‘traditional’ families married with no cert for thousands of years. America
was built on toleration not exclusion. Let’s be tolerant of others.
GOP religionists fail Christian tenant: “I was a stranger, and you took me
in” Matt 25:35
Is credit monitoring service $110 right for you?
The internet has made everyone concerned about ID theft and
worse—scams that rob you of your sense of security. Many firms like LifeLock
are profiting from these fears. Many firms charge over $110 a year to claim
they protect you. Actually no firm can protect you (stop a thief from stealing
your ID or bank account). Professionals with the help of their governments do crimes
all day so if they can break into the government files they can easily take
yours if they want it. Notification is key to limiting damage. CreditKarma.com and CreditSesame.com
will watch one credit file for irregularities for FREE. You can check your other files at https://www.annualcreditreport.com/requestReport/landingPage.action
Also go through every credit and bank statement you receive.
We recently found bogus bank charges for Uber service we never used. Our bank
reversed and gave new card.
Which liar will win
American’s vote?
Neither can re-create jobs of the good old days! I don’t see either one as President.
Do-Nothing Congress
decides US future by doing nothing for more 4 years.
“I
have not [grabbed P*y].” “His
hands were everywhere.” 1 woman says. Now
5.
“Certainly
has been an interesting 24 hours!” Ryan,
McConnell still OK with it
“Lecherous
and worthless” James
MacDonald quits Don’s religious council
Hill, “you’d
be in jail” by my special prosecutor when I am elected.
House GOP don’t
understand why Ryan quits helping Don. Morally blind?
Why do they
trot out these 5
women with false claims?—I had
only 4 for Bill.
“I
think it makes him a normal person,” son says of grabbing women’s p***y
I am your
savior, “taking
the slings and arrows, gladly, for you”
Nixon
refused to show tax returns too and Congress finally got $500,000.
Warren
Buffett says he does NOT deduct biz losses against income, as I claimed.
“I
can shoot somebody on 5th Ave and wouldn’t lose voters.” Well,
maybe U.S.
women.
Mike: I
don’t like Don’s comments but we can still take power to shut government
“I
forgave” Don for his actions but I can’t forgive Hill for her actions.
Don does
not seek my advice on policy on Syria .
The Don is The Don.
I can see
him tweeting to world leaders all night about grabbing p**** in WH.
“Don’t say
that,” to supporter who plans
to overthrow govnmt if Hill gets in.
Hill: Conservatives
really hate me if they can still
vote for The Don. Moral values?
I
told Wall Street they should fix their problems bec/ they know how and why.
The Don
says he will have his
justice department come after me.
But The Don
said he has given
up on the GOP—“unshackled me” to lose myself.
Buffett: I
am under audit and have released my returns so The Don has political
reason.
Tim: Check
the facts Mike: The Don is not really Prez material.
Are the Russian
hackers really working with The Don or just curry favor?
McConnell: “We’ll
drop him like a hot rock,” Feb forecast of The Don nominee.
Ryan: I just won’t
appear with him to avoid being tainted by his ‘grabbing’ privates.
Bachmann: GOP
House behind The Don—“masterful performance in the second debate."
Reaganites
Opposing Trump. The god’s worshipers say The Don is no Ronald Reagan.
Trump
“reminds me a lot of early Mussolini” Conservative legal scholar John Yoo
said.
“The Only Thing Necessary for the Triumph
of Evil is that Good Men Do Nothing”
Every successful civilization has died from the inside not
from attack.
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.”
(GOP bill requires
impossible: every person in class
action suffer “same type and scope of injury”)
Number 1 killer: Kia Rio --149
Deaths Per Million Registered Vehicles: are you next?
Wells stole $2.6 mil and fined but Apollo
stole $40.3 mil from your pension: no fine
Navy
Federal Credit Union caught making threats debt collection to its service members
Comcast caught illegally
billing
customers for unwanted equipment and services
RBS
bank barred from handling 401ks collusion and interest-rate manipulation.
Christie and Kelly talked about Bridge-gate before
it happened, Kelly’s lawyer claims.
Christie
rep asks cops to take blame for closure and then blames them anyway. New
job?
Wells Fargo mgr filed complaint
about illegal fee creation scheme in 2011—ignored
We need regulation—GOP wrong—companies/cities
wouldn’t fix bad products on own
Police want gun control.
When everyone has guns; your
chance of being killed goes up. Police don’t know who to
shoot. They assume everyone has gun hidden. You and real criminals both have
guns. Body cams make it harder to plant evidence and stage scene for TV crews.
SCAMS: America ’s
election process—no issue debate; name-calling sex TV soap
Ignoramus Award: US
guilty
of war crimes selling arm to Saudis to kill Yemen
funeral?
How our government wastes our money
Over $2.429
trillion for fed subsidies for energy, agribiz, etc etc. Solve SS, Medicare
gap
Tax
breaks for corporations total over $1 TRILLION, enough fix roads, SS and
Medicare
Where have all the jobs gone?
AI deep-learning replaces
radiologist—computer quicker
“more accurately” than Dr.
Wind
turbine tech is the job projected to expand
more than any other in 2014-2024.
GM adds 650 jobs for more SUV in TN
Data
engineering jobs at every company now—even small firms need IT today.
Who owns your account now?
LPL brokerage to _____________?
IAN
41 Watchung Plaza, B242
973.746.2014
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