Tax overhaul by Trump will be a miracle
The Don is a developer of real estate and he and other
rich people have enjoyed the fantastic benefits of the existing tax code
their whole lives. Consider the basics: you put in a few dollars to buy a
building site with other investors. You got other investors and banks to lend you
over 80% of the cost to build/fill with tenants. You get to deduct
the interest on the loan and the expenses
in running the building. Expenses can be property taxes, depreciation,
security, promotion, maintenance, personal expenses to win and keep investors
happy, lavish advertising, opulent parties, hair spray, etc. You reduce your
other income with these expenses. The New York Times has
reported that Mr. Trump’s businesses have at least $650 million in
debt. The deductible interest is huge. In 1995, for instance, he deducted
almost a $ Billion from his income so his taxes for years ahead were reduced to
MINUS. He loves debt so much he
has profited from bankruptcy FOUR times. His budget, increasing the
national debt by $10
Trillion, may hit bankruptcy level. He is profiting
from the national debt already after only 100 days.
Is it likely that The Don will push through Congress the
elimination of the tax benefits of the current code? Would you give up your tax
credits if you were Trump or Congress?
Take your tax credits now: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO/dp/1539462382
What can you do when the market falls 10%?
People who try to time the market—to sell their mutual fund
shares or stocks—before or during a market plunge think this is the way to “never
lose money,” as Buffett’s famous number one rule says. However, if you follow his
actual deeds, he does not sell when the market tanks. If the price of the firms
he holds goes down, he
actually buys when others sell. Usually he just ‘stays pat.’ And that is
part of Buffett’s strategy: stay pat. Buffett, the most
successful investor of our time, does the impossible—he
does not panic. He does not panic because he knows there is no better deal than
what he has. His advice about making money: "We continue to make more
money when snoring than when active." Fidelity found that the 401k accounts
that did best were those left dormant.
So be a Buffett Millionaire: https://www.amazon.com/Warren-Buffett-Millionaire-money-snoring/dp/1508887381
Trump could be a great president
He could end sex discrimination in the workplace and
government. Fact: women get paid less than men for the same work. Some studies
say women get 70% of men’s wage rate. Simple law for all business concerns to
execute: they have data on pay and job titles. Trump would be hero to working
women and who could complain? It would also raise wages to create demand for our
economy. GOP could build party depth by showing respect for women workers—HALF
the voting public. Who would object? Women create many small businesses and
would be praised for equality. The increases would allow women to save for
retirement since many receive less Social Security because of low lifetime
wages. They need more retirement money because they live longer. Ending sex
discrimination would help Trump with his misogynistic image. His regime is all white
men with women in secondary positions.
Get ready for TrumpWorld: https://www.amazon.com/Your-Retirement-Income-Checklist-TrumpWorld/dp/1544703260
The best graduation gift is money
Most retirees I help bemoan the fact that they wish they had
started early to create a pile of cash for their later needs. They admit they
had little money to do that but NOW they know it is TIME, not picking the next
Apple that would have made a big difference. Your gift, should you accept the
task of giving them a start, can help your graduate get started. Even a small
amount can put them on the road to riches. $100 deposited in their own Roth IRA
means in just 20 years, they might have $75,000 if they match it every month
automatically from their account. If they continue, that’s $225,000 in 30 years
and $650,000 in 40. If they wait to start, it will take $820
a month to get the same amount.
And it can all be tax FREE: https://www.amazon.com/Give-your-Graduate-1000000-Lifetime/dp/1456433105
Are the new ETFs right for you?
Your advisor has made the case for an ETF portfolio. But are
they right for you? (We know they are right for your advisor because they carry
commissions when you trade.) The answer comes from your objective: Is this
money for long-term accumulation or for market timing? Most ETFs are indexed funds and
they are best suited for investors who AVOID a market timing strategy. Advisors
mistakenly
think they can pick the right segments over time. According to investment
return tracking firm DALBAR, a stock index provides 11%
per year vs. 3.79% for trading accounts. Indexed funds and ETFs only invest
in the stocks on an underlying index, so they do not require an active manager
to make picks. Unlike market index fund investing, investing in an indexed ETF
requires that you be bullish on the underlying market segment. So if your goal
is long-term total accumulation, use the lowest cost vehicle you can find.
Typically, an index mutual fund that does not trade provides your best deal.
Most large providers offer a 500 index for less so you earn more. Most 401k
plans do too. Avoid the “Pimps” who promise more but deliver less: https://www.amazon.com/Pimps-Wall-Street-money-middlemen/dp/151525254X
Fees: what is the right amount to pay?
Vanguard has become the largest provider of investment
products because it is the low-cost producer. Morningstar, the financial rating
firm, compared all the mutual funds and found that the low-cost
ones produced more return than the high-cost ones. Over time, your costs
determine your final account balance. Your
pension is losing money due to fees. If you are paying 2% total expense (1%
management fee and 1% expense +12b1 fee) you are giving up about 63%
of your total possible accumulation. And your
advisor/firm gets the yacht. It is “the tyranny of compounding costs”
according to Vanguard’s founder, John Bogle. Warren
Buffett seconds this strategy. Ten years ago he bet a fund manager that the
500 index (0.04%) would beat managed funds. Stakes: $1 million. Despite the
2008 tumble of 37%, the index rebounded in astounding fashion. In 2013, the
broad market index fund saw 32.3% gains vs. the hedge funds’ 11.8%. In fact,
his index
fund pick beat the hedge fund’s returns in 6 out of 8 years. Buffett’s
Vanguard index
is up 85% vs. their 62%.
Your choice—earn 11% or 3.79%: https://www.amazon.com/Millennials-Investment-Strategy-BEST-journey/dp/1533079242
The Don’s budget shrinks the middle class
Mr Mnuchin, Treasury, says the end to mortgage-interest tax
deduction would end the American dream for all but the wealthy. A married
couple would need
a home-loan balance of about $608,000 before using the deduction would make
sense, according to Trulia. And Trump’s end to local property-tax
deductions would decrease home sales which would lower existing home values. Realtors’
lobby opposes it, obviously. Home ownership rate would fall. Reducing
incentives to buy could benefit large
publicly traded landlords like Trump’s friends, not his supporters.
His one-page tax plan includes ending
the estate tax so wealthy families can create oligarchies. Estate
IRS exemption already exempts most $10 million legacies. However, if the step-up
in basis on assets is eliminated then the advantage of receiving your
family home tax-free at your parents’ death is lost. You would owe tax on the
appreciation of your parents’ home since they purchased it. If they left you a
property worth $375,000 they bought for $75,000 35 years ago, you would owe $45,000
that year ($300,000*.15).
Use the Working Millionaire tax shelter: https://www.amazon.com/Working-Millionaire-Tax-FREE-Self-insure-Self-fund/dp/1460945484
Where do you park your short-term cash?
Credit Unions have higher rates because they can be more
selective in who they call ‘members.’ So if you are a member of a union or work
at Walgreens or ATT, you might qualify to earn high rates—2.75% for 5 years. You may not
need to visit a branch. Some offer computer services like bill pay and remote
ATM use. Your car and home equity loans are usually cheaper since you already
own CU shares. Credit Unions make sense for most people who don’t have time to
visit a branch or have few transactions. Earning more on your money and cutting
fees is key to building wealth: https://www.amazon.com/Personal-Finance-Smarties-Not-Dummies/dp/1469973030
*****************
TrumpWorld
Goal: Household name around the world
We can’t stop watching his “apprenticeship
for president show” EVERY DAY!
We have entered 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" where “alternative
facts” and illusions of conspiracies are lived out. Lies are considered
true. Incompetence
is praised. Truth is what the loudest voice says it is over and over.
Rod Serling
The Don boasted
top secrets from an ally to Putin’s spies: will ally trust us again?
Trump gave granular
details to the Russians—Syrian city where the ally got Intel—helps Putin
control who has ISIS Intel. I
have 'absolute right' to share ‘facts’ with Russia.
Trump Putin
back channel set up to avoid US Intel community. Secrets passed?
Trump asked Putin to
hack Dems, used fake news, disrupted elections, used spies.
But didn’t Trump pillory
Hillary for giving up top secrets in her emails?
If these were
president Hillary’s acts GOP
House would have bill of impeachment now.
Our greatest fear:
Trump’s lust for power—obstruct
FBI probe, fire Comey—Now tapes!
“I was going to fire
Comey,” Trump said defiantly. “When I decided to just do it, I said to myself,
‘You know, this Russia thing with Trump and Russia is a made-up story.'”
‘You’re
fired’ letter has issues reversed. “Thanks for clearing me of collusion
with Russia.” and ‘You’re fired’ so the Russia-Trump probe ends? Harvard
Law: “Impeach”
Trump
will call Putin as his first defense witness. Putin provides WH
transcript/tape?
Trump is still a
contractor from Queens
Trump threatens FBI
Comey with secret tapes Trump made of their talks. Like mob boss, he asks
Comey to let Flynn go, then asks for loyalty, then fires him, then threatens
him. https://twitter.com/realDonaldTrump/status/863007411132649473
Trump is like Cosa Nostra who thinks he owns the town’s people and the Law.
Justice Rosenstein memo
made up to cover Trump’s firing Comey to halt probe.
Does Flynn have a pistol and bodyguard? Flynn knows what
Trump got from Putin.
Free American press may be locked out of WH:
Trump may end press conferences—only TASS
(Russia) will cover events.
If Trump does not have tapes
of top secret disclosure, Putin will supply his.
Trump asks FBI to arrest
reporters for publishing information he didn’t like.
The Don blackmails Comey: “secret
tapes of his conversations with Mr. Comey”
The Don asked for loyalty
and Comey said honesty. FBI ideology
ended with Hoover . “…that sounds
more like a
mafia boss than the president of a free republic.”
Trump’s new China
policy:
Coulter on Trump: “That’s the one
fascist thing he’s done. Hiring his kids.”
“In Trump We Trust,” Coulter “worshiped” him with “blind
loyalty.” Regrets
Chinese spent $7.7 billion for 40,000 US
visas and it is linked
to fraud cases
Ivanka
pays $1 a DAY for her clothes line to poor Chinese who have no
home life.
South
is still fighting the Civil War—reliving the past is key pastime for many.
Little Dictator wants war:
Army to go back to Afghanistan —Putin
strategy? Lockheed Martin stock rise?
Jared
makes $110 BILLION deal for weapons to Saudis. Commission 10%?
“Follow the money” Lindsey Graham
The Don just ‘lawyered up’—is Trump above the law? Can he
govern?
Trump just hired a Washington law firm to send a letter to the Senate
Judiciary Committee denying that he has connections to Russia
Uncovering More
Trump Ties to Mobsters and Shadowy Oligarchs
The Don uses shell
corporations and cut outs to launder
money for the mobs and oligarchs on Russia and Kazakhstan to buy real estate. Commerce Sec Wilbur
Ross was vice chairman, Bank
of Cyprus, which was premier bank for laundering
money for Putin and associates. Ross worked with a former chairman of Deutsche
Bank, known for its money laundering capabilities. Trump’s Xorders and agency
appointments are being shaped
by lobbyists from religious right, insurance, oil and gas, IT.
Your employer no longer has to tell anyone when you are
injured or ill by job
Trump revoked the
disclosure rule requiring
companies to electronically report injury and illness records -- a move that
effectively keeps these records
from being publicly disclosed for the immediate future. “Not having this
data increases the likelihood that workers will be injured…”
*
The GOP bill gives
the rich tax
cuts that add up to $1
Trillion. The real TELL in this vote: Congress
members will NOT lose their ObamaCare guarantees in this version. Trump has
his WIN and we lose. 24 million people lose coverage. Even Fox
News sees single payor in 7 years as a result.
Side by side
comparison ObamaCare vs TrumpCare: http://www.latimes.com/projects/la-na-pol-obamacare-repeal/
Flynn
as paid secret foreign agent while US official and campaign knew it—traitor?
Flynn
to Senate Intelligence Committee: “F**k you” no docs.
Trump knew Flynn was paid
spy and still given access to top US secrets Treason?
Which witch?
Resign or impeach? Which is
better for Trump brand? Most
mistreated president?
Trump sees world differently. Turkey
SS beat up Americans in DC and says nothing.
Trump
needs to watch other cable than Fox.
Trump thought he would be cheered
for firing FBI to stop probe.
*************
Regulators are the only protection against
corporations 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!
Supremes say NO
to NC voter ID laws—NC wants to keep blacks from voting.
“An ugly chapter in voter suppression is finally closing.”
Student loan lenders
don’t inform 90% students of available lower payment plans.
Your internet
speeds and capacity will be market priced thanks to Trump. Disney vs you.
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! Since 2015, police have killed
86 people with realistic looking FAKE guns--suicide?
SCAMS:
Ransom ware threat: Click on link in email and all your
files are gone. Pay ransom and still not get them back. Fix: Back up to cloud or
your own external hard drive.
Ignoramus Award:
Trump threatens FBI
Comey with secret tapes Trump made of their talks. https://twitter.com/realDonaldTrump/status/863007411132649473
Trump’s lawyer is posting
his daughter in bra and pantyhose on twitter. Trump has called his eldest
daughter “voluptuous”. He’s said it’s OK to describe
her as “a piece of ass”. And he’s said that, if she wasn’t his daughter,
“perhaps [he’d] be dating her”. Sickies!
How our government wastes our money:
Installing another
presidential taping system.
Installing voter
suppression head to find the “3
million illegal” voters that put Hill on top.
Where have all the jobs gone?
GOP Frelinghuysen intimidates
critic by complaining to her boss—she is out of job
Job interview will ask for your salary requirements. Answer:
I
will research the range.
Which job board sites are best
for your job search?
Cancel Robo calls with Mr NoMoRobo: https://www.nomorobo.com/
Miracle:
IAN
41 Watchung Plaza, B242
973.746.2014
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