Friday, October 13, 2017
30% of us will see a tax INCREASE
30% of middle class households could see tax increase
Hey, someone has to pay for corp tax rate drop. 30% of households with income between $150,000 and $300,000 would see a tax increase. That’s the analysis by the nonpartisan
last week. Making some assumptions about the
effect of the child tax credit and where the income
brackets will fall under the new plan, one tax expert expects his family
could experience up to a $6,600 increase in taxes. More of us will end up in
the next higher tax bracket because the bill shifts the income range of
each rate. Old
rate made taxes for incomes $$9,326 to $37,950 at 15% but new
rate 12%, 25%, 35% makes income $9,326 to $37,950 pay 25%. If your income
is over $418,000, you will pay less than 20%. We will pay more because many
companies have sent their
profits overseas to avoid tax. In 2004, Congress gave them a tax break to
bring profits home. Jobs
were actually lost. Urban-Brookings Tax Policy Center
Avoid the new tax: https://www.amazon.com/Tax-Shelter-Americans/dp/1500426520
Did you get your reward?
I signed up for a credit card but thought I did not receive my reward of $200. Turned out it is bunched together with my purchase rewards cash back. Now I don’t know if I can use the $200 to pay my bill because the redemption threshold is $250. I will have to charge more to earn enough to use the rewards. Other cards have their ‘mouse type’ too so read carefully.
They got me card charging: https://www.nerdwallet.com/blog/credit-cards/cant-find-credit-card-rewards/
Lower your income tax using Trump’s “pass-through” rate
GOP and Trump are creating a new tax rate category to reduce the taxes the very wealthy pay. Instead of the 39% or 35% individual rate, smart business people are taking their income through a “pass-through” company with a 25% rate. “Most hedge funds, private equity funds, law, consulting, and accounting firms are partnerships,” they note; “these businesses can be large, global enterprises.” About one-fourth of all pass-through (LLC) partnership income is earned by finance, real estate and holding companies, and another 13% by law firms. For instance, Chrysler is now Chrysler, LLC. KS tried this trick in 2011 and then revenues plummeted, creating a budget crisis. The state repealed the pass-through carve-out in June. Gov Brownback left town. If you have a business, you may be able to deduct many of the expenses that you currently have and reduce your total tax liability just like Trump does. The GOP plan would cut Medicare by $470 billion and Medicaid for the poor by $1 Trillion. People will literally “die in the street” and all so the
10 most disappointing cars
Fiat Chrysler and Nissan brands accounted for eight of the 10 most disappointing cars. Most of us are looking for a specific benefit—reliable, eye-popping, cheap, quick, space, luxury, convenience, long-lasting. Check if other owners have been pleased with their purchase to get some idea how a model gives us what we are looking for. Sometimes we don’t care about benefits car marketers think is important. For instance, Jeep has poor reliability but who cares if we impress our friends on a camping trip off road. For others, they don’t mind overpaying for the name plate; hey, it’s just money. Marketing pros know that we get tired of our rides pretty quickly and so it does not have to be reliable for long—3 years is tops. If our payment plan is for 5 or 7 years, so what we will trade it in for whatever we get on the next model. On the other hand, a reliable cheap mode will save us money over 5-7 years and we can use the money for other things.
Ask for all your discounts: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634
GOP religionists now control child and women’s health decisions
Trump is allowing more employers to opt out of providing no-cost birth control to women by claiming religious or moral objections. The new policy is part of religionists wish to end Obama's Affordable Care Act provision. The vast majority of companies have no qualms about offering birth control benefits through their health plans. Human resource managers recognize that employers get an economic benefit from helping workers space out their pregnancies, since female workers are central to most enterprises. Religionists wish to control behavior they don’t like. They think preventing pregnancy with contraception is NOT a way to curtail abortion and unwanted children. Religionists feel under attack but they are in control. Congress just cut CHIP—health care for poor kids—and perhaps this too helps GOP religion control poor kids so they cannot survive.
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First fact: John Bogle, founder of Vanguard Group, the largest mutual fund firm, found that over 50 years of the normal 2% fees on your portfolio, you can actually end up with 63% less than you could have earned. It is simple math: your money earns 7% but the advisor, firm and trading/timing take 2%. Instead of $1.4 million at $250 a month you end up with only $670,000. The average managed-account equity investor earned just 3.79% a year over 30 years ended 2014. Inflation was 2.7%. The market benchmark returned 11.06%. We can invest in a fund that tracks the benchmark at the low cost of 0.04% and so earn 11% over time. We can eliminate any current or future taxes on the growth of our money as it compounds in a tax-advantaged retirement account. No advisor or computer system has proven to beat the market returns over time. Use facts to grow your account: https://www.amazon.com/Fact-based-Investing-first-million-hardest/dp/1977574270
How much retirement income will you have?
Does your advisor calculate how much retirement income you will have? How do they calculate the amount? Are you comfortable with their assumptions? Your advisor may not be with you when you retire so you need to have them explain it in writing (you can understand). Given where you are in all your accounts and SS, how do they project your totals at age 66, 70, 75? If you do achieve those results, which egg do you crack first? How much inflation-proof income will you receive based on their current projected plan? Are they selling you an annuity? Which type and when purchased and annuitized? Make sure you understand how they achieve their projections. For instance, my projections show I have an 85% chance of receiving 6% for 20 years with 34% stock 66% bond portfolio like Vanguard Wellesley Income. I have a good chance of growing my nest egg depending on what the market does in 10-20 years. It is better that you and your spouse know the situation now so you can do something about it. Check the advisor’s work.
Will you have enough? https://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016
Doctor ratings don’t match skill/competence levels
Using the five most popular online platforms - Healthgrades, Vitals, Yelp, RateMDs and UCompareHealth – researchers looked at consumer ratings for 78 medical and surgical specialists. Next, they compared the consumer ratings to the doctors’ specialty-specific performance scores, which were based on how closely the doctors adhered to medical guidelines, certain outcomes of their patients’ hospital stays, and the cost of the care they provided. Patients’ ratings of individual doctors tended to be consistent across all five platforms - but there was no significant association between consumer ratings and objective measures of the quality and value of care doctors provided. The study head, Daskivich writing in the JAMIA showed that “Those ratings don’t tell the entire story of how good a doctor is.” “We are working on an automatic classification tool that extracts the factors rated by each text-based patient review.” ObamaCare opens Nov 1. Someday, we might be able to make rational decisions based on patient and peer ratings. Someday we might be able to buy coverage that is complete and understandable. Trump has changed the regs so insurers can offer insurance that fails on guarantee 10 essential benefits. Making good decisions on health care is difficult as The Don found out.
Do your research: https://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083
Medicare premiums—up and down
The Medicare enrollment period begins on Oct. 15 and continues through Dec. 7. Drugs of Part D may cost more or less depending on your plan and needs as every year. Look at the Advantage plans again. There's a lot to like about MA plans, including a maximum annual out-of-pocket expense for traditional Part A (hospital insurance) and Part B (outpatient services) coverage, along with the ability to roll dental, hearing, and vision coverage into your plan. Traditional Medicare doesn't offer these coverage options, and there is no maximum annual out-of-pocket expense. Part B surcharge: the change happens once an individual hits $133,500 in income, or a couple hits $267,000. If you find yourself eligible for Medicare and earning more than these amounts, prepare to pay a potentially higher Part B surcharge in 2018. Part B for most has no increase: $134/month for earners with less than $85,001 (single)/less than $170,001 (married).
How are you going to spend your Trump $4,000 tax break?
Trump promises each family $4,000 “pay raise” and roads without potholes. He did not say that that is the total over 8-10 years. He assumes our family and our descendants will pay the $1/2 Trillion deficit this creates! If every family receives $4,000 (125820000x$4000) that costs $503,280,000,000. He wants to increase missiles by 10 times, cut corporate taxes by 2/3rds and build The Wall. Conservative estimates put that extra $10 Trillion on our kids and grandkids. If
continues to buy our bonds, we will pay an extra $500 million on top of the $474.5
billion in interest in
each fiscal year. The current debt of $18 Trillion means each of us already
owes over $150,000 per person. GOP used to stand for conservative spending but
not lately. Both parties have raised the debt to WWII levels relative
to our GDP output.
Perhaps we should be raising taxes now for our kid’s sake.
We can save $3,000 a year: https://www.amazon.com/101-Financial-Plan-Save-3000/dp/1469990563
Trump is still just a mafia contractor from Queens—Dad taught him to be The Don.
Smoking gun: “Our boy can become president of the
and we can engineer it,” Sater wrote in an email to lawyer Cohen. “I will get
all of Putins team to buy in on this.” Manafort
tells Russian mob he will keep them informed about “our boy.”
Trump’s group places mob ties above country; it’s about money POWER not
Mob doesn’t call the FBI when Jr doing an illegal deal with fellow mobsters. Receiving stuff from ‘foreign power’ during campaign is illegal—even for idiots and morons.
‘Ministry of Truth’ 1984 novel: Government propaganda is ‘truth’ when they say it!
“Only one thing will work” “quiet before storm” “you’ll find out” Firing Tillerson?
Pence plays the offended patriot and tells the press to meet him in parking lot before.
No one expected him to win so no harm getting Putin help. Don owes Vlad’s mob money so they sent mob gofer Manafort to run the campaign. ‘Colluding’ Putin style.
TrumpWorld – using presidency to make money the old fashioned way: theft
Dictator talk time:
“When the president does it, that means it is not illegal,” Richard Nixon
“Only one thing will work” “quiet before storm” “you’ll find out” Thermonuclear war?
Lock N. Korea Kim and Trump in a room and settle with fists—heavy weight TV fight!
46% GOP want preemptive strike on North Korea today: 1 million S. Koreans dead!
Trump says he will take away NBC broadcast license if they report the news he hates.
Rush: I am uncomfortable with president dictating the behavior and power of anybody.
The Don is moving us to a dictatorship where the only people who go to jail are his enemies and non whites he does not like. Racists and nationalists get pardons. If Flynn Page and Manafort get indicted by Mueller, The Don will just give them a “get out of jail free” card so they don’t rat him out.
Gingrich: Trump compared to Andrew Jackson who also hated people of color.
“The president can’t have a conflict of interest.” The Don is above the law? Pardons?
Quid pro quo: "something for something."
Obama clean air initiative dead; long live the coal mine owners—miners dying from dirt.
Trump rewrites list of criminal fugitives who can’t have gun so ½ MILLION more can!
Regulation is necessary: We need protection. Saves $12 billion of our money!
EPA ends Obama clean air—polluters open stacks, methane holes, nuke radiation
Trump to allow us to buy insurance in next state but who wants to fly to doctors?
FDAA “debt validation” caught promising to eliminate consumers’ debts for fees.
Trump has suspended our right to bring class action lawsuits against our advisors.
Trump says ObamaCare bad because premiums increase for Kissinger:
"Henry Kissinger does not want to pay a 116 percent increase in his premiums," Trump said. "But that's what's happening, and it actually getting worse. It's getting worse by the minute," Trump said, after tapping a grinning Kissinger on the arm. But Kissinger is 94 and has been on the single-payer system Medicare for three decade. He doesn’t use Obamacare or have a 116 percent price hike. Trump is a moron. We checked.
Trump says US has highest tax rate in the world but he knows it is less than HALF
He himself paid $0 for many years after deducting $916 MILLION from his failed businesses. He was allowed to take that loss forward for 18 years to wipe out taxes from his TV and other deals. Many corporations pay NOTHING because the subsidies and loopholes we pay tax to offset. The effective tax rate for many is 12.6% not 39%.
How Govt wastes our money:
Pence wants to go to the moon—let’s send him there.
Treasury Sec taking military jets costs us over $800,000 so FAR! $ million by Dec?
$584 million for 1 combat ship which is easily sunk, radar fails to detect, stability issues.
Even scammers must pay tax on the scam unless they have smart lawyers/accountants.
Credit bureaus profit from our data but not interested in protecting it or us. We pay both.
Mrs Trump: “Who’s going to vacuum and clean up after us? Americans don’t like that.”
Who owns your account now?
Joe Biden for prez? It would take a miracle. Dems would lose to Roy Moore if Biden ran.
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