Tax cuts: Who will pay for all these cuts?
We will, of course.
Wealthy people have lawyers/accountants/tax shelters/tax loopholes to make
sure they are not going to pay. When the interest on our national debt gets
more expensive and the world decides not to buy Trump bonds, what will happen? GOP
adds $1.5 trillion to the deficit, cuts $4 trillion in spending including
nearly $500 billion in cuts
to Medicare and $1 trillion to Medicaid. We will have a tax increase as our
SS and Medicare/Medicaid benefits
“dry up.” We know the Congress NEVER cuts Pentagon
waste and Trump
wants 10 times the missiles. Don’t believe that a explosive
economic growth, jobs and high wages will make up for it. KS
tried tax cuts and nearly went bankrupt. Quality of life fell. Corporations
already have the solution—send the profits to other countries so they are not
taxed here. Corporations used to pay 33%
of Federal revenue. Now it is 9%. Since 1979, the top 1% has grown income
by 137% while wages of the bottom 90% have grown just 21%,
mostly in the 90s. Bush
cuts made deficit grow.
Time for YOUR tax
shelter: https://www.amazon.com/Tax-Shelter-for-Americans/dp/1500426520
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. Remember, they
get paid whether you have enough or not. Costs matter.
Will you have enough? https://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016
Another corporate loophole for wealthy to avoid taxes
Investors in start up firms like Pandora, the subscription
music player, may
owe no tax when they sell their shares. For some investors, that means a $
million tax break. Congress gave the lobbyists another present: the PATH Act
(the “Protecting Americans from Tax Hikes Act of 2015”) the 100% exclusion is
permanent. Even if Pandora had not grown to $6 billion, investors can exchange
the losing stock for another promising stock. No tax on the sale. When
investors use a pass-through entity from a no income tax state like FL, they
avoid state tax too. Of course there are hundreds of other money tricks lobbyists
have created for their sponsors which help many firms avoid costs. Our
‘reps’ are participants
and enablers of this process. Banks write bank bills, oilers write energy
bills, agribusiness writes agriculture bills and so on. The GOP
has not cut any subsidies or loopholes for big business in the new tax
giveaway to the rich. Just health subsidies!
Pay only your fair share: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO-tax/dp/1539462382
TrumpCare is hated by everyone except Rand Paul—“Free”
Market Health
TrumpCare means you
can buy whatever coverage you can afford. If junk
insurance with no ObamaCare guarantees is what you need then you can save
money. Paul says that insurers will compete for your coverage and lower the
price, just like they do for 500-member corporate plans. Unfortunately, Paul
and Trump are living in the past. They had ‘Free Market’ plans 40 years ago. People went bankrupt. Insurers
don’t want the sick. Medicare was started because no insurer wanted sick/old.
Every insurer wants the young healthy people so they pay out little and reap
huge profits. They call it underwriting. Paul thinks all the poor and sick can
form a group and obtain great coverage like Congress
people have. Group
coverage has limits and insurers are not going to want to accept everyone
with “pre-existing conditions” without charging higher premiums. Higher
premiums mean higher tax credits—less Federal revenue by $194
Billions. Since TrumpCare has
eliminated $7
B subsidies, the groups will need to reduce coverage so the members can
afford the plan. Insurers run group plans at an extra cost. Old group plans
failed. For family coverage, the average
policy totaled $17,545 a year with employers contributing 72% or $12,591.
Employees paid the remaining 28 percent or $4,955 a year. The average
after-subsidy premium paid by the millions of enrollees who got premium
subsidies was $153
per month. Paul
and Trump get their ObamaCare at reduced cost so they have not shopped
lately. They don’t know a Junk
policy since they have ObamaCare
You may still obtain a real policy with subsidies at https://www.healthcare.gov/.
Mortgage interest deduction gone?
In 2015, the federal government spent about $71 billion on
this tax credit. It helped higher income households who itemized deductions. Almost 90
percent of the deduction’s benefits went to households earning
more than $100,000. Currently, interest rates are low so the credit is not as
important as it used to be when mortgages
cost 8-18%.
We refinanced 5 times since 1981. The points are deductible
too. Deductible property tax can be $18,000 on an average property in some
areas. If you own a multi-family, the mortgage and interest can be a huge
deduction on your rental property. House GOP and The Don own real estate so
that is not likely to be on their list of cuts. They own other assets that will
be taxed at Trump’s lower business rate of 25%. Many wealthy people don’t take
“wages” so they don’t pay the average 33% we pay. Like Buffett, Kerry and
Romney, they pay 17, 15
and 13%, living on capital gains and tax-sheltered
income.
How about the most awarded cars of 2017?
High
ratings from new owners for these 10 according to KelleyBB. Why? Design, reliable,
features, fads. For instance, Fiat Chrysler TV ad says the Pacifica
is “imported
from Detroit” when it is actually made
in Ontario. Fake news. Honda tops the list. But what will happen after 3
years? Perhaps you can get the 3 year old model for 30-40% off. New
car kinks need time to become better: especially Impreza https://www.yahoo.com/
news/car-reliability-u-automakers-vs-world-164336411.html. You still need
to consider which cars have the best records not just awards. Jeep
is on this list but has disappointed owners in the past. JD Power http://www.jdpower.com/cars/study/2017-Vehicle-Dependability-Study/1882ENG/Compact-SUV/1131.
JD Power lists the most problematic car brands with Jeep,
Audi, Subaru, Jags and Fiats: https://www.cheatsheet.com/money-career/most-trouble-prone-car-brands-jd-power-associates.html
Consider most awarded insurance too: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634
FREE education online
Did you ever want to know more about what the universe is
made of, or how to calculate the time value of money, or the history of
disease? Whatever your interest, there are courses to help you understand at your
own PACE. Some even let you ask questions. Where are the courses? Universities, blogs, sites,
tech sites, and others.
https://ocw.mit.edu/courses/physics/,
https://www.khanacademy.org/, https://www.class-central.com/report/physics-free-online-courses/,
https://www.class-central.com/report/physics-free-online-courses/
http://www.worldscienceu.com/
Actually, you can shop for exactly what you want by just
entering “free [subject]” at Google. World
Science U has renowned scientists. Probably the most comprehensive site is https://www.coursera.org/ with links to
many offerings. Most courses are video presentations by outstanding people in
their fields. I liked the one on Einstein’s relativity. Did not understand it
all but got the concepts. https://www.coursera.org/learn/einstein-relativity
I have taken many math and financial ones at KhanAcademy. I have also done the
financial planning one at UC Irvine: https://ce.uci.edu/about/releases/pr.aspx?id=78
I have also learned to fix and make things with YouTube
vids. I fixed my window so it moved easily: https://www.youtube.com/watch?v=no7BjntkFsk.
I changed the headlight in my Camry: https://www.youtube.com/watch?v=f1JHnW8Ruek.
A bookcase is easy even with a portable circular saw: https://www.youtube.com/watch?v=AX_PIkKEjyc.
Save $3,000 a year using my tricks of the trade: https://www.amazon.com/Insiders-Guides-Discount-Financial-Services/dp/143480593X
GOP religionists follow new messiah
Bannon
has become the new messiah: Bannon promises that they can be “the folks who
saved the Judeo-Christian West.” All that is required is to abandon
the best of the Judeo-Christian tradition: a belief in the inherent value
and dignity of every life. The religious
right is an interest group seeking preference and advancement from a [white] strongman
— and rewarding him with loyal acceptance of his priorities. Idolatry is
defined as “extreme admiration, love, or reverence for something or someone.”
Christianity used to mean love of thy fellow man—all human beings—no matter
what they looked like or believed. God asks us to help fulfill the promise of
every person. This is the meaning of humans “created in the image of God.”
Jesus: "You are the light
of the world. A city set on a hill cannot be hid.
Is your 401k option stealing your retirement money?
GE employees are suing GE for using their retirement money
to make GE profits look better. 56% of all the money invested in 401k pensions
was used to pay higher
management fees in GE’s own mutual fund firm. For example, employees in the
GE Strategic Fund, which invested in a balanced mix of stock, bonds and cash, returned
a cumulative 36.29% gain from 2011 through mid-2016, while Vanguard’s Wellington
Fund returned 57.71%.
Despite that, the GE fund’s fees were twice those of the Wellington Fund. “A
prudent fiduciary … would not have offered the plan’s participants the GE Strategic
Fund,” the lawsuits says. “But GE did just that.” Fees and charges can rob
employees of up to 63% of their overall potential earnings. Employees are often
offered the company’s own
stock which can bring disaster for retirees also.
Earn more without the middleman: https://www.amazon.com/Tune-your-401k-EARN-Tax-FREE/dp/1490591028
****************
TrumpWorld
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 USA
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 US
service.
Undisclosed $26
million loan from Russian to Trump campaign manager Paul Manafort.
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.
Putin using Twitter
now with fake followers for Trump mob—how great impact?
Trumpers
colluded with Russia by pushing their propaganda as if it was own tweet.
Putin
hired activists to stage demonstrations and promote divisive content.
‘Ministry
of Truth’ 1984 novel: Government propaganda is ‘truth’ when they say it!
Fake
news=Trump brand Trump calls lies truth and truth fake. Why hate Obama?
My Theory:
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
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.
Trump
never mentions 4 killed for 12 days then blames Obama for not calling too.
Ending ObamaCare
subsidies for the poor and Medicaid hits 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."
Trump’s executive orders are all he has to show at the adult
day care center!
Before we have an ‘accidental’ nuclear war, Congress could
use impeachment.
Regulation is
necessary: We
need protection. Saves $12 billion of our money!
GOP House committee passes law to OK broker predatory sales:
best
for broker rule
WellsFargo caught selling
ETF with misleading promises: not a hedge for investments
Trump
has suspended our right to bring class action lawsuits against our
advisors.
Tillerson
calls Trump a ‘f__king moron” ‘MORONIC’
LIAR:
If payment to health insurers is unconstitutional, so are those
to oil, agribiz, coal, 965
Claims Obama and other presidents
never called killed in action families—Trump
didn’t.
Trump’s
‘research’ finds factory decline causes “higher abortion rate,” “lower fertility rate,”
“increased spousal abuse,” “lower marriage rate,” “higher divorce rate,”
“higher crime,” “rising mortality rate” and “increased drug/opioid use.” End
NAFTA.
How Govt wastes our
money:
Trump ended insurer payments to
cover the poor will
cost us $194 billion lost revenue.
SCAMS:
‘Commission-free’ ETF offered by ‘discount’
brokers have high
(1%) annual charges.
28% of 2017 vehicles don't have spares; 36% in 2015—Detroit
helps local garage.
Jobs:
Jobs we have don’t pay: 90%
wages have not kept pace with inflation
Who owns your account
now?
T-moble and Sprint together? Better service?
Miracle:
Pence told Bachmann: Trump is now a “committed
believer” of Jesus Christ and a “man of faith” who has “asked God for help
and wisdom.” Really! “you shall
know by deeds.”
New immunotherapy
treatment which genetically
alters patients’ cells to attack cancer
IAN
41 Watchung Plaza, B242
973.746.2014
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