The Don’s tax plan may not be much help
You
may not see much more in your gross pay statement from the GOP tax cut
unless you are rich. If you are in the 10% bracket now you will be in the 12%.
If you are a single parent or you have many children, you may pay more since “head
of household” status is gone. Trump's lower rate for business income--a
top 15% rate, versus 33% for salary ---will lead half of high
wage workers to take steps to convert salary into business income. If you have a
small business, you may be able to move
some expenses to the business. You may also take advantage of the smoothing
of income like Trump probably did when he took a
$916 million deduction. A business can carry a loss back for two or three
years and claim a refund from the government of taxes previously paid, or opt
to carry the loss forward for as much as 20 years,
offsetting profits. Workers with wages can’t use this averaging method
now. McConnell GOP Senate says any
tax cut for the rich needs to be offset by tax increases or cuts for other
programs. Ryan GOP House wants to cut Medicare, Medicaid and SS benefits. Protect
your future now!
Set up your tax shelter: https://www.amazon.com/Tax-Shelter-Young-Americans/dp/1500426520
If your advisor manages your money, ask for total return
In the five years ended June 30, only 8% of large-cap stock
managers beat their benchmarks, according to S&P Dow Jones Indices. Ask
your advisor how you did in the last 5 years—net without your additions or
subtractions. You will be surprised. If you are trying to build your retirement
fund, you should have increased
your egg in the last 5 years by 78%. There is a better way. Most investors
need index funds since the costs you pay OVER time can take 60%
of your potential total. Salespeople take more than half your money but you
take all the risks! Usually you don’t even have a good time.
You don’t need the pimps: https://www.amazon.com/Pimps-Wall-Street-money-middlemen/dp/151525254X
GOP wants Americans to go shop for senior coverage—disaster
last time
Medicare was created because seniors
could NOT buy medical coverage at a reasonable price before 1965. In 2017,
wealthy Congressmen want each of us to go back and shop for coverage when we
leave employment. If we find it, they promise they will vote enough money to
cover part of the cost. They have free coverage—we pay for it. Half of them are
millionaires and can buy their own coverage in retirement. They believe that
insurers will accept older people with any ailment or the hospitals will treat
older people for free. They think they were elected to cut spending and
providing govt assisted health care is NOT what we want. They do not think
funding Medicare Medicaid is more important than giving $ trillions in
subsidies to profitable oil gas agribusiness and drug companies. There are
thousands of lobbyists buying our Reps lunch and dinner to keep those subsidies
coming. Even after some war
spending are declared wasteful, the funding continues. GOP
has warned us that they will cut social programs to pay for Trump’s
projects like the Wall. When they privatize Medicare we will be back to 1950s
when we could not find coverage we could afford. http://www.fool.com/retirement/2016/12/03/is-paul-ryans-medicare-privatization-proposal-good.aspx
Cut taxes like Trump so you will have enough: https://www.amazon.com/Your-Hidden-Wealth-Reserve-Reduce/dp/1540435148
Will your retirement income last?
This is the number one question we get asked. But no advisor
can predict the future so we must rely on the past to consider the
probabilities. First, the reason wealthy people keep their serious money in
stocks and other investments and not in the bank is because stocks investments
have a higher probability of success over time. Second, you can improve your
odds by using what we know of stock market returns over time. Third, time
invested determines how well you will do with stocks. Bank returns only match
inflation. Social Security benefits in retirement are your “bank” returns. You
paid into your SS account all your life and your benefits reflect the amount
you paid. The average today
is $2,212 per month for a couple. As you get older, the amount will
increase with inflation. Will your pensions increase and will they continue
after you are gone? Can you survive on the total of these two benefits? Let us
assume you need another $2,000 a month or $50,000 total before tax to be
comfortable. You can generate $25,000 a year from a $500,000 nest egg fairly
easily. However $25,000 will be worth less in the future and so you must find a
way for your nest egg to keep up with inflation like your SS benefit does. You
can’t park your nest egg in the bank at 2%. That’s why pension funds invest in
stocks/bonds/other. Test your nest egg for longevity. See that with 50/50
stock/bond mix you have over 80% chance of success of $2,000 for 30 years even
with inflation. https://retirementplans.
vanguard.com/VGApp/pe/pubeducation/calculators/RetirementNestEggCalc.jsf
GOP bill to reduce SS benefits for all—THE simple fix is
ignored
H.R.6489 slashes
benefits, adds means testing, and would raise the retirement age from 67 to 69.
For
most workers, the bill would cut Social Security benefits substantially. As
Michael Linden, associate director for tax and budget policy at Center for
American Progress, pointed out on Twitter, a letter from Social Security’s Office
of the Actuary calculated workers making around $50,000 would see checks
shrink by between 11% and 35%. Dems prefer to require all Americans to pay the
SS tax. Currently someone making over $118,000 pays nothing more. There is a better
solution. We could use the subsidies
paid to oil gas agribiz and drug companies to secure SS and Medicare
funding for 100 years. Of course that requires GOP to lose their campaign funds
so it will never happen.
Secure your retirement with Tax-FREE funds: https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976
GOP plan for replacing ObamaCare is another voucher tax
credit plan
The Don promised to “replace”
ObamaCare immediately with something “terrific” that is “so much better, so
much better, so much better.” 20
million people use ObamaCare. So why do more
Trumpers sign up for ObamaCare if it will be gone Jan 20? How can he beat
$75 a month? McConnell, Senate, said he will start repealing ObamaCare on Jan.
3 even with no
replacement in sight, declaring that “surely” the GOP revision will wind up
“covering Americans better
than Obamacare.” He did not say how he will cover the 25 million; six
percent” of us who have no coverage. (Previously, GOP has used “voucher”
tax credits to say they can cover everyone in America but a voucher is not coverage and 47% of
Americans don’t pay tax so tax credits are meaningless to them. A voucher only
works if an insurer will offer a policy at a reasonable cost and that was the
problem before Obama. GOP does not realize that millions can’t afford what
Congress has.) Truman fully supported national
health insurance but it was killed because opponents linked it with the Cold
War. “Socialized medicine” became code for communism.
Don’t fall into the BIG hole in the new Fiduciary Rule
The new Fiduciary Rule (give clients BEST product for them
not self) has a waiver for insurance agents selling fixed-index annuities. Financial
advisors also selling annuities object saying the exemption defeats the purpose
of the rule. Agents can sell commission annuities and their brethren cannot.
Agents may call themselves planners but can’t offer all the solutions advisors
can. Agents and advisors use marketing tactics that may induce seniors to buy
what they do not understand. For instance, fixed-rate annuities are often billed
as CD-type accounts for risk-averse customers. Later the complicated contract
terms with high costs are revealed. The industry shields itself from losses
with terms that even the most sophisticated SELLERS can’t understand. Contracts
are sometimes over 50 pages long. The BIG hole is called PTE 84-24 and permits agent
‘fiduciaries’ to receive a commission for selling insurance or annuity
contracts to retirement and IRA plans. If approved, an insurance marketing firm
could initiate variable compensation which competes with securities-licensed
advisors who are banned from taking commissions.
Consider annuity alternatives: https://www.amazon.com/Best-Annuity-Strategy-Income-Growth/dp/1497532019
FREE tax preparation
Advertising to you is how they pay for free credit score and
free tax preparation. https://www.creditkarma.com/
needs your eyes to obtain dollars from sellers of financial services and they
give you software to file federal and state taxes at no cost. If you need to
file a simple return, this is the cheapest way. There are some sites through
the IRS https://www.irs.gov/uac/free-file-do-your-federal-taxes-for-free
that allow free federal but they usually charge for a state return. You can
also use a local AARP tax aide office. http://www.aarp.org/money/taxes/aarp_taxaide/
AARP does not discriminate by age or income so they can usually take care of
most people. Best tip: deduction for IRA contributions and tax credit $2,000 subtracted
from tax you owe. Double Pleasure.
Take your Tax Credits like The Don: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO/dp/1539462382
Don’t forget your RMD rules if you are over age 70
The IRS rules require that RMDs must be calculated
separately for all the accounts you own. In some cases, RMD amounts can be
added together and the distribution taken as you like from one or more of the
accounts. Any type of IRA accounts can be aggregated, which means you could
total up your RMDs and take it all from one IRA – one that is a poor performer,
perhaps, or one that will help you rebalance an account that might be
overweight in equities in your allocation plan. This task becomes easier if you
have all your retirement accounts at one firm. Ed Slott, IRA expert, says the
IRS will often waive
the penalty if you make a mistake but can offer a “reasonable cause” for
the error.
PLAN to avoid the IRS penalty: https://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016
When you decide to go electric, CR reviews them
Tesla
was tops but glitches show and now you have more options. Where can you
plug it in every night?
“Whatever I say is true; it is true because I say it” Is Putin playing The Don?
This was where he found out that millions
voted illegally. Even dead people.
That no one actually died in a massacre at Sandy Hook just
stunt to take guns.
That Obamacare is the “biggest voter registration fraud scheme in the
history of the world”
That the 9/11 attacks were carried out for our government.
"Hillary Clinton and her campaign of 2008 started the
birther controversy."
Offer to donate
$5 million to charity in exchange for Obama's college records.
That Mexico
sends "rapists" and other criminals into America .
He claimed he personally
witnessed "thousands and thousands" of Muslims celebrate 9/11 in NJ.
Ted Cruz's Cuban-born father Rafael Cruz was linked to the
JFK assassination.
That Antonin Scalia was murdered.
That Clinton
used drugs before a debate.
That "globalists" (read: prominent Jews) are
trying to take over America .
That vaccines cause autism.
That burning our flag is a crime not a 1st Amend.
Right, as per Supremes.
Trump does NOT take the daily
intelligence report but watches TV—Fox, CNN,
That his Cabinet officer Carson thinks “Joseph built the
pyramids to store grain.”
His voters represented districts with the highest
drug, alcohol, and suicide rates.
Putin did NOT help me get elected and didn’t interfere with
our voting. GOP McConnell
believes Putin’s word not own CIA. Blames
Obama of course!
What is good for Standard Oil (Exxon)
is good for America .
That the CIA “intelligence” reports on Russia
are bogus. Is Putin the new Stalin?
He doesn't take the top-secret briefing on national security
developments--"It is curious that someone who refuses to take intelligence
briefings has decided that he doesn't agree with the analysis contained in
them," the former official said.
He does not check rightwingwatch.org/
factcheck.org/ to verify the
information used to rule.
We are entering the
Twilight Zone:
"There is a fifth dimension beyond that which is known
to man. It is a dimension as vast as space and timeless as infinity. It is the
middle ground between light and shadow, between
science and superstition, and it lies between the pit of man's fears and
the summit of his knowledge. It is an area which we call the Twilight
Zone."
Rod Serling
75 percent of U.S.
adults were fooled by false headlines. The survey found that people who cite Facebook as a
major source of news are more likely to view fake news as true.
THE DON’S 282 PROMISES
Deportation,
The Wall, Re-Create Jobs, NO Abortion, No ObamaCare, More Guns, No Muslems,
Reprochmont
with Russia, Christian
nation, Jail
Clinton, Kill Terrorists and Family, Torture, Cancel
Iran deal, Cancel
EU-NATO, Term
limits, Replace VA head, Coal
Steel Infrastructure, End
drug monopolies, Tax imports esp Ford, Grow 6%, Cut Deficit, Separate
banking speculation, Cancel Consumer
Protection Act, Change libel
law, outlaw
flag burning, End
own biz ties, End
endless tweets, Cancel
Fiduciary Rule, Wealthy
tax break, No tax income <$50K, tax profits
sent overseas, Change
Washington, Change GOP, Change, Change, It was rigged! … so I would win!
Red
states limit Dem voting
Like mafia
family, The Don has never had a boss, no
corporate board to question his acts!
Remember, Don Trump
is still a contractor from Queens NY
“Trust
only family” “I'd love to have Jared helping
us on deals with other nations and see if we can do peace in the Middle East ”
Ivanka met with Japan
The Don
Way : Making money from the Secret
Service and Top
Secret info for biz, foreign
diplomats, Branded
Prez swag!, Taxpayers,
not private guards, guard Trumpworld, Produce
TV show and TrumpFish
with yellow hair logo in Iraq. Can he rule at same time?
Lashes
out at SNL skits still!
Tweeting
his gut instincts: “usually
right” he believes
*
Actual outcomes: (“So
much for draining the swamp” He filled it again)
Trump goes
after Energy employees who support climate change policy. Pink slips?
CIA says Putin
helped The Don get elected and tampered
with the process. Trumpers say VP Cheney’s CIA was wrong about Saddam too. McConnell
sides with Putin vs CIA.
IN spent $24
million to keep jobs but lost 3,800—companies reneged!
700
laid off workers will not
be able to buy ObamaCare -- so lose twice.
Is this what
Putin would do? Force/pay owners to keep workers working!
Carrier
union rep gets
threatening phone calls—kids in danger from Trumpers?
Carrier
parent UT
gets $ billions from jet engine contract from US too!
Crony
capitalism—Palin does not like govt supporting business. Socialism?
Dems won
by 2.5 million: GOP barred voters by closing sites, Greens took Clinton
votes WI, PA MI. Clinton received more votes than any
other presidential candidate in history.
The Don claims he won popular vote "if
you deduct the millions
of people who voted illegally", though he provided no evidence of
widespread voter fraud. Recount is scam.
The Don disavows white supremacists as they
give the Nazi Heil but may have one as advisor.
Don’s vigilantes attack non-whites: hate
crimes up in NYC—Muslim cop assaulted
The Don thinks that maybe torture
is not what the generals want.
The Don may believe in climate
change by man but today it’s hoax
like flat Earthers.
House
committee on NASA says it pushes
propaganda. “From next year, entire U.S.
government is going to be in the hands of people who really don’t
believe in the 'man-made global warming' scare story." Miami
flooded is illusion? Coast
mayors act?
The Don will “replace”
ObamaCare immediately with something “terrific” that is “so much better, so
much better, so much better.” 20
million people use ObamaCare. So why do more
Trumpers sign up for ObamaCare if it will be gone Jan 20? $75 a month?
McConnell, Senate, said to start repealing ObamaCare on Jan. 3 even with no
replacement in sight, declaring that “surely” the GOP revision will wind up
covering Americans better
than Obamacare. He did not say how he will cover the 25 million six
percent who have none. (GOP has used “voucher” tax credits to say they can
cover everyone in America but a voucher is not coverage and 47% of Americans don’t pay tax so tax
credits are meaningless to them.) Sign
up extended to 12/19 due to high demand
Trump
paid back students at his Trumped up U. $25 million and still made money.
Deportations: “get the people that are criminal and have
criminal records, gang members, drug dealers, where a lot of these people, probably
2 million, it could be even 3 million, we are getting them out of our
country or we are going to incarcerate.”
Ford’s
factory better. Tax
cuts for rich/corporations mean no money for the wall.
Trump
tried a wall in Scotland and sent the bill but failed—they just don’t pay
the bill.
Giuliani paid millions
by Mexican politician running anti-Trump platform in 2018. Wow
NATO EU UN defunding: Weakening
NATO, EU and UN ties is Putin’s goal in regaining Russia ’s
superpower status. The Don has been flattered by KGB: no friend.
End
of Iran deal would be ‘folly’ according to CIA Brennan. “Disaster” for
proliferation. Iran
just bought 80 Boeing planes using our loans so nuclear deal will NOT be
cancelled.
Tax cuts: Single parents and large family will pay
more—1%ers get 13% cut.
Cut taxes so econ grows: wealthy get most breaks and buy art
with windfall
Economy is doing fine without cuts: Obama
economy created 178,000 jobs in November, and the unemployment
rate fell to 4.6% from 4.9% in October. 10
million new jobs under Obama.
Stop corporations sending profits (UNTAXED) overseas.
Stop government subsidies (socialism) to oil,
gas, agribusiness, drug corporations: Exxon as Sec
State
Reinstatement of the Glass-Steagall
to keep speculation from consumer banks.
Trump kids
become national security advisors—get top-secret clearance. Giuliani claims
“they can’t work in the government
because of the government
rule against nepotism.” But they can use the information in Trump’s
companies and insider trading. Conflicts of interest
range from Wall Street to Philippines and India.
Trump
promised not to run businesses but continues as producer of Celebrity
Apprentice confirmed for 2017. He can’t
live on $400,000 a year so will need to be supported by his sons, wife’s
and daughter’s businesses. Day to day they run them anyway and he knows his
brand will bet HUGE boost worldwide. Postpones
news on how conflicts handled.
Stop flow of jobs out of US but corp welfare
was paid
Ford
will still build $2 billion factory in Mexico but does not send KY jobs
there yet.
Fiat
building new factory for Jeep Compass in Toluca
Mexico
Carrier
agreed to keep 700 jobs in Indy—not furnaces. Taxpayer incentives given.
Trump’s deal “saves” less
than half of the total jobs, for a subsidy from IN. Jobs
still go to Mexico.
The Don will NOT show his tax returns or his
birth certificate. He does
not pay taxes: he claimed he lost money.
The Don’s slogan “lock
her up” was just B.S.—a $20
tote that isn’t even made here.
The Don’s claim NYTimes
is “a joke” was just BS--“I
will say, The Times is, it’s a great, great American jewel. A world jewel.”
Promised to stop
tweeting so much. Tweeting almost as much.
Promised to act presidential. Stop attacking individuals.
Attacked Carrier union rep.
Promised to give up business. Linked business in hidden
ownership no
accountability.
The Don’s big
bluff: what will be done has changed every day since election.
Propaganda
wins: 82% middle-school students could not distinguish between an ad
labeled “sponsored content” and a real news story.
“I’m going to bring down drug prices. I
don’t like what’s happened with drug prices.”
TIME
names The Don ‘person of the year.’
The Don promises more government spending. “Well
sometimes you have to prime
the pump. So sometimes in order to get the jobs going and the country going.”
Congress?
*
The Don’s new sub
bosses (mostly billionaires with own conflicts of interest kiss
ring):
Rex Tillerson, State, Exxon Chief and Putin
buddy will make sure the oil
runs on time no matter what any in his empire does. He has said, “We do not
support sanctions, generally,” so Putin will win in improving his country’s
economy despite invading Ukraine .
Climate is changing but not Exxon’s fault. Guarantees $5.3 TRILLION of our tax
credits and money will continue to fuel oil and gas firm profits. He helped
end ban on gay scouts in 2013 as its former president. He supported Jeb for
prez.
John Bolton, Asst State Bolton
favors war in middle east. Rand Paul will block his nomination: “John Bolton is
so
far out of it and has such a naive understanding of the world.”
Rick Perry, Energy, former Gov
TX
Monica Crowley, National
Security Communications Director, Fox
News Host, Former Nixon Adviser. She was supporter from the very beginning.
Do-Nothing Congress
will decide US future by doing
nothing for more 4 years.
Tolerance is un-American now?
Do we have a new McCarthyism period: Muslims not commies? http://www.cnn.com/videos/politics/2016/03/12/donald-trump-rallies-violence-protests-mashup-lv.cnn
Regulators are the only protection against corporations
since we
can’t sue anymore
VW
caught unable to produce 23 cell phones with data re: diesel gate
Wells Fargo sold Prudential life insurance without
licenses.
Colleges are helping students
rack up huge fees for bank profits
Driver-free cars vs distracted-driver cars
"Half the cars on the road now are 'autonomous' anyway:
people reading or putting on lipstick,” J Leno said.
We need regulation—GOP wrong—companies/cities
wouldn’t fix bad products on own
GM
killed 124 because ignition switch pin not replaced after knew it killed
first in 2006.
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 one and shoot
first. You and thief have guns. CO
schools now allow teachers/administrators to carry
guns in the classroom. Kid lesson!
Another
4 year old shoots a 2 year old – what happened to the safety switch on
guns?
Footballer killed in road rage event and killer
not held=verbal “fear for life” claimed?
Scott shot
5 times in the back while running away from police who claims self defense.
Why police
shoot those who don’t lie down immediately—dementia, mental illness, etc.
Caller said
‘man
with gun’ so shot man w/o gun 9 times! Nine!
Harris gets life for killing
son by leaving him in hot car in GA in June.
OH lets concealed
guns go everywhere—job, college, town hall, ect
Police organization
issued a formal
apology for the historic mistreatment of minorities.
Trumpers want police to start buying
military weapons against civilians again.
SCAMS: Missed delivery email scam—don’t respond; don’t click
link. Call carrier.
Ignoramus Award: Trump
does not take intelligence briefings because “I’m
smart.” He thinks Putin is his buddy. He does not think McCain is war hero
either. McConnell
and Ryan
have drunk the Kool-Aid too.
How our government
wastes our money—letting companies not pay taxes is waste
$50 billions: The Don and his lieutenants don’t use CIA, NSA
intelligence. “I’m smart.”
Ground-based Midcourse Defense system, doesn’t
work yet our Reps spend $40.9
billion
Where have all the jobs gone?
CA stops Uber
driver-free service after failed to have driver’s license and ran red
light.
Who owns your account now?
LinkedIn to Microsoft
Miracle: The Don becomes President.
Contractor Star of negative “reality” TV show (You’re fired)
and failed Atlantic City casinos
and Plaza hotels is elected President of the (United) States even after
insulting just about every group in the world and especially women. More women
voted for him than the first woman presidential candidate after his video shows
he
believes it is OK to grab women by their p___ if you are a rich white guy.
“When you’re a star, they let you do it.”
IAN
41 Watchung Plaza, B242
973.746.2014
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