- In 1966, average life expectancy was only 56 years. Today it’s 72. That’s an increase of 29 percent.
- Out of every 1,000 infants born, 113 died before their first birthday. Today, only 32 die. That’s a reduction of 72 percent.
- Median income per person rose from around $6,000 to around $16,000, or by 167 percent – and that’s adjusted for inflation and purchasing power.
- The food supply rose from about 2,300 calories per person per day to over 2,800 calories, an increase of 22 percent, thus reducing hunger.
- The length of schooling that a person could typically expect to receive was 3.9 years. Today, it’s 8.4 years – a 115 percent increase.
Friday, January 5, 2018
Avoid paying for the tax cuts
Avoid paying for the wealthy Tax Cuts in the future
One way of making sure you can lower your taxes in the future is to operate a small business. The new pass-through entity tax is 25%. If you can take your income as revenue to your business—a DBA or LLC—you can avoid the higher rates. If your other income puts you in the 22 or 12% bracket, great. You can also share your expenses with your deductible business—car, meals, miscellaneous expenses, property, state income and sales taxes, job expenses, uniforms, dues, subscriptions, use of home, tax prep, supplies, insurance, licenses, etc. on https://www.irs.gov/pub/irs-pdf/f1040sc.pdf.
If you end up with a loss some years, so be it—that negative reduces your 1040 income. Use a business to control your taxes like the Trump’s tax-credit class: https://www.amazon.com/Your-Tax-FREE-Account-IRS-approved-shelter/dp/153735292X
Buffett's SIMPLE Strategy
The Master of investing, Warren Buffett, proved it, again. You do not need Wall Street 'professionals' to reach your financial goals. In fact, if you use them, you may give up 63% of your potential accumulations because of trading, charges, commissions and fees.
Buffett made a bet with a hedge fund manager for $1 million 10 years ago. Buffett's strategy earned over 7% a year versus 2.2% for Wall Street's best and brightest. So there is no reason to pay a sales person working for a Wall Street firm to invest for you. The costs over time destroy your account success.
Buffett advocates a simple low-cost strategy: Buy the stock market index in a fund like Vanguard's 500 Index. Invest in the market returns consistently and you will do better than everyone you know. Over the long term, your returns would average over 11% per year. DALBAR keeps track of returns and found that the average managed-account equity investor earned just 3.79% a year over 30 years ended 2014. The benchmark returned 11.06%.
Also note, since 1997 we have been able to invest for the long term without paying ANY taxes on the gains. In the past, we had to pay for gains in our 401k, IRA and pensions in retirement. We can avoid the charges to start and maintain these tax-advantaged accounts too. Earnings are FREE after age 59 ½. That can mean tax-FREE retirement income.
Earn 11% a year with Buffett’s strategy: https://www.amazon.com/MasterClass-Buffetts-SIMPLE-Strategy/dp/1983485268
GOP plans to win in 2018 by nullifying voters’ rights
OH GOP has been removing citizens from voter lists for years in an effort to make sure one party wins all the elections. GOP claims voter fraud is rampant even though study after study shows this is a lie. The U.S. Supreme Court will review an Ohio procedure that removes voters from the rolls if they haven’t cast a ballot in six years and fail to return a postcard. A 2002 law forbids states from removing registered voters from the rolls for simply not voting. At issue is the claim that GOP’s purge wrongly targets disadvantaged Ohioans for disenfranchisement. In ND, native Americans sue over state ID requirement since difficult to obtain. Trump has canceled his trumped up case for widespread voter fraud—now Bannon lost mind. Other states run by the GOP are dismantalling poling places and voting times.
Studies show no voter fraud. State GOP efforts are funded by the Koch political arm.
A few reasons to be grateful this holiday season:
is GREAT already!
See specific numbers for your own age at Your Life in Numbers.
§ The world has become less authoritarian, with the level of democracy rising from -0.97 to 4.23 on a scale from -10 to 10. That’s an improvement of 5.2 points.
Happy Holiday Happy Holiday
Is your advisor honest?
Your ‘advisor’ is a salesperson first and foremost. They would not have a job otherwise. Contrary to the Wall Street hype, your ‘advisor’ has no special information. The firm they work for may not be honest. Recently Citigroup caught using “buy” instead of “sell” or no ratings and clients lost $ millions. Citigroup is not the Stratton Oakmont firm from the Wolf of Wall Street but Citi proves you need a 2nd opinion when you consult financial help. You need to know enough to “trust but verify.” VERIFY every claim they make.
The most successful Wall Street executives are NOT traders. They do NOT try to time the market. They have learned the lessons of the financial legends: “The stock market is a device for transferring money from the impatient to the patient,” Warren Buffett said.
In fact, the average managed-account equity investor earned just 3.79% a year over 30 years! A simple index fund earned 11%. Buffett, perhaps the greatest investor of all time, with 60 years experience, boils down the stock market to patience. Mr Buffett's strategy of patience is the most successful. He earns about 20% a year compounded over time. He does NOT buy and sell stocks frequently. In other words, he does the opposite of what Wall Street 'advises' us to do. Wall Street is a sales industry not an advice industry.
Do we ask a barber if we need a haircut?
The SWEET part of the tax cut bat
“You all just got a lot richer,” Trump boasted to members of Mar-a-Lago on Dec. 22, according to CBS. The reason Trump’s co-billionaires are so happy with the GOP is a new deduction for their LLCs. The new deduction allows people with pass-through income — profits from a partnership or sole proprietorship, for instance — to write off 20% of that income before calculating their taxes. Think of it! Trump owns more than 500 large, pass-through real estate firms like his golf clubs and hotels — just the type of business that would qualify most easily. Certain restrictions apply for professionals who are NOT employees of their businesses but for anyone with a part-time job and not receiving employee benefits, keep 20% off the top. For a closely held business that operates now as an S corp, it should consider switching to C corp due to the cut in the corporate tax rate. With the change in estate tax, a family with assets around $20 million has to think carefully about whether they want to make gifts now, with no step-up in basis at death, or whether they want to hold assets until death, with a free step-up in basis.
Use your own tax haven: https://www.amazon.com/Your-Tax-Haven-Tax-FREE-Americans/dp/1482659441
What can you do if you expect your taxes to go up in 2018?
Many in the blue states need to plan for their GOP increase in federal taxes due to the repeal of or limit on their deductions and exemptions. If you used to deduct over $10,000 in property and state income taxes, you may find you will owe more tax in 2018. There is a penalty for underpaying your taxes so you might want to increase your withholding by DECREASING your allowances on a W-4 at work and/or having Social Security withhold 7, 10, 15, or 25% from your benefits each month on W-4V. Sign the form and return it to your local Social Security office by mail or in person. If you find you have no deductions to offset your increased tax liability in 2018, you can send the IRS estimated tax payments using form 1040 ES: https://www.irs.gov/pub/irs-pdf/f1040es.pdf.
Avoid GOP tax increase: https://www.amazon.com/Tax-Credit-Class-use-your-credits-ZERO/dp/1539462382
Do you need a reliable vehicle?
Consumer Reports cites 10 vehicles that you can count on. Toyota and its Lexus are on the list again. Korean cars are most improved followed by American name brands. Today all cars are made all around the world. In fact, some foreigners have more American work/parts than the American names. JD Power illustrates the myths of vehicle reliability. Most new updates have problems that take time to work out. So many wealthy folks go for the lightly used luxury models after CR and JD reports how owners faired. Sometimes the lack of hype works to your advantage by leaving many new cars on the lot in the Fall when the new arrive. Research is much easier today. Shop online (50 mi radius) for what you want and perhaps the dealer will go get it for you. Beware 10 worst: https://www.cheatsheet.com/automobiles/consumer-reports-worst-cars-2017.html/2/
Shop for insurance discounts too: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634
Who can you claim as deduction/exemption on your IRS forms?
Many tax filers miss a larger refund because their tax preparer miss classifies people they support. Your grandma in
or Canada can be your dependent. All your girlfriend’s children
can be a deduction for you. Anyone living in your household could be a
deduction. The rules are complicated and sometimes you and your preparer may
have questions. See if these fit your case:
Ask the IRS at firstname.lastname@example.org Mexico
BEWARE: Trump watered down health insurance coverage
When you buy a policy outside of the subsidized ObamaCare ACA site, you might be getting limited coverage. Trump changed regs to let “junk” insurance be sold by any insurer. Lowering the price by “removing undue restrictions” like pregnancy cover, drugs, emergency room, and preventive screening (breast cancer screen $600) may require you file bankruptcy like before 2010. Ask which of the 10 Obama essential coverages you are giving up and plan accordingly. Opium rehab can now be excluded from a policy and rates for pre-existing conditions are raised.
Buy only what you need: https://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083
“I have absolute right to do what I want to do with the Justice Department,”
‘I’m the only one that matters’ The Don,
Nov 3, 2017
Trump enforcers lie re: contacts to Putin and list longer: Why all the lies if innocent?
Mandate: ‘I was elected President’ like Washington, Obama and Hitler
Bannon and I wish to “destroy the state”–our government.
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
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.”
Ross, Commerce, direct link to Putin energy consortium and Russia-Cyprus bank
Putin sent 60 money wires to US marked “to finance election campaign of 2016.”
LOCK ‘EM UP--Mueller draining the swamp!—Everyone gets pardon!
Papadopoulos rolls: Trump-Putin liaison pleads guilty.
Manafort rolls: Trump’s money launderer manager indicted: conspiracy against US.
Flynn rolls: Trump’s national security advisor and foreign agent pleads guilty to lying. “my actions were wrong” "if I did a tenth of what she [
did, I'd be in jail today.” I am not a traitor. Right, but he also said he
never talked to and
had no connection to Russia Russia and
said was not paid by to
change policy. Turkey
McFarland (“If there is a tit-for-tat escalation, Trump will have difficulty improving relations with Russia which has just thrown U.S.A. election to him.”)
Regulation is necessary: We need protection. Saves $12 billion of our money!
(No one person can afford to sue a bank: class actions banned by GOP now.)
Citigroup caught using “buy” instead of “sell,” no ratings so clients lost $6 million.
Trump ending protection against another 2007-8 bank failure and broker overcharging
Trump freezing Fed hiring and pay to cover his tax cuts to billionaires.
Trump ending enforcement for occupational safety issues.
Your Mazerati has fuel leak with prices starting at $105,600 should have none.
Police need Caller ID:
Kill by Remote: “Bomb threats are more fun and cooler than swats in my opinion and I should have just stuck to that,” Swautistic told reporter Brian Krebs on Friday. “But I began making $ doing some swat requests.” Dead man is target of feuding videogamers!
Another special person dead—“guns don’t kill people” for fun. Is your wife next?
‘Ministry of Truth’ 1984 novel: Government propaganda is ‘truth’ when they say it!
Trump lies even when he does not need to or when it does not help him—Psychotic?
WH mass delusion: "The president,” Sanders told reporters, “believes in making sure that information is accurate before pushing it out as fact..."
My Theory on Trump -- Putin ‘love’:
Trump got Russian help/funding for business from business/mob ties to Putin.
not interested in more bankruptcies. 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. The conduit is Deutch Bank. ‘Colluding’ Putin style. Trump
always has a fall guy to blame when caught in lie.
Sessions claims campaign execs all too inept and overwhelmed to collude on
Putin gives The Don a big kiss—first name basis—Don made markets hum
Trump gives Putin classified CIA intell on terrorists
TrumpWorld – using presidency to make money the old fashioned way: theft
President’s coin ‘13 original states and motto’ & “E pluribus unum”gone: DJT 3 times.
Tillerson Exxon calls Trump a ‘f__king moron” ‘MORON’ and LIAR:
McMaster, National security adviser: Trump has intelligence of a “kindergartner”
“If Bannon does think Trump Jr. committed treason — or something short of that — perhaps he simply wants to put himself as far as possible from how the broader
investigation might view that meeting with a Russian lawyer. Bannon's name has
been conspicuously missing from many of the developments in the Russia probe …
but he's expected to be a key witness given his high-ranking roles[.]”
Dictator talk time:
“When the president does it, that means it is not illegal,” Richard Nixon
Is this the end of American democracy: "no man [woman] is above the law"
“I have absolute right to do what I want to do with the Justice Department,” Trump Says He Has An 'Absolute Right' To Control The Justice Department. Hitler did too.
Trump” not ready ‘YET’ to give Flynn his pardon for conspiracy against US
Banned words -- Burning books next?
Fire & Furry gossip Trump sues to stop. Trump goes to court to ban a book about his presidency and his attitudes.
"It's worse than you can imagine. An idiot surrounded by clowns. Trump won't read anything.” Fox TV is main source of tweets. McDonald’s to avoid poisoning.
Trump’s Disease Control has banned words he does not like as if disease disappears
So Trump like Putin is a dictator. Trump is no longer claiming Russia just fake news—collusion/conspiracy real—but he can do it because he is prez, they say.
Trump storm troops arrest people who look like immigrants.
How do you prove you are citizen? ICE acts like Gestapo: no record if you’re taken. No calls to family allowed. Kidnap immigrants dropping kids off or in court for ticket.
Make American ‘Conservative-White’ Again
Trump packing in young Scalia-type judges to kill abortion, liberal rights across US.
Obama: we must protect democracy from Nazi-style dictatorship—vigilance and press
I can never be wrong: “The reason I originally endorsed Luther Strange (and his numbers went up mightily), is that I said Roy Moore will not be able to win the General Election. I was right!
worked hard but the deck was stacked against him!” Roy
“The president can’t have a conflict of interest.” The Don is above the law?
Fires FBI head because he was investigating The Don’s
ties then blames FBI.
Ideology can justify any policy: At RedState, there has always been one hard and fast rule: Oppose abortion at all costs. Christian Right is not Christianity but ideology.
Today child molester; tomorrow rapists? How GOP religionists justify crimes of the Fuehrer and followers. He can pardon every crime.
1998 the House of Representatives approves two articles of impeachment against President Bill Clinton, charging him with lying under oath to a federal grand jury and obstructing justice.
2017 Nov. House of Representatives introduced articles of impeachment against President Don Trump, charging him with firing FBI Comey, violations of the Emoluments Clause, actions "undermining" the judiciary and freedom of the press.
2018 the House of Representatives approves two articles of impeachment against President Don Trump, charging him with lying under oath and obstructing justice. Trump was told that Flynn lied to FBI so he commanded Comey to drop it. Lied on TV about why he fired Flynn. Fired Comey to end inquiry on Trump’s conspiracy with foreign power to destroy lawful election admitted on TV. Fired NY AG who was investigating his laundering Putin money via real estate.
TX Rep Al Green’s Articles of Impeachment failed Dec2017. WWIII next?
Quid pro quo: "something for something."
Nursing home fines for abuse ended so owners can’t lose Medicaid funding
We have given The Don time to act like president: Time to Impeach for obstructing FBI
How Govt wastes our money:
Corporate subsidies AFTER ‘tax overhaul’: $6 billion for sugar processors, $1 billion for dairy, $800 million for marketing to foreigners, $370 million for peanut corps, $650 million for manufacturer’s consultants, $2.5 billion for F-35 problem fixes, $1.2 billion to subsidize southern power, $1 billion for TVA parks etc, and thousands more.
Best Benefits Companies: 20 for 2nd look: https://www.cnbc.com/2017/05/03/the-20-best-companies-for-work-life-balance.html
Who owns your account now?
Voya annuities to Apollo Crestview and Reverence Capital
41 Watchung Plaza, B242