Friday, April 19, 2019

Trump: ‘Don’t pay ANY taxes like me’


Trump: ‘Don’t pay ANY taxes like me’
The companies that paid nothing in taxes were “able to zero out their federal income taxes on $79 billion in U.S. pretax income,” according to this study. Lowering the rates and using various loopholes, subsidies and credits, Trump eliminated “$20.7 billion in the federal revenue last year” according to the Institute on Taxation and Economic Policy. Amazon, Chevron, Netflix, Eli Lilly, IBM, General Motors, etc are reaping tax cut benefits and paying nothing. John Deere, for example, reported earning $2.15 billion in U.S. income before taxes. It owed no U.S. taxes in 2018 and reported the government owes the company $268 million because of various deductions and credits, the report says. We pay for Deere’s profits! The cut in the corporate tax rate alone will save corporations $1.35 trillion over the next 10 years, according to the Joint Committee on Taxation. The cost of interest alone on the national debt runs $896 million each day!

Taxes not done? Pay and get extension: https://www.irs.gov/pub/irs-pdf/f4868.pdf

What does it take to build a comfortable nest egg?
Time: Make Money the Old Fashioned Way. Fidelity analyzed its accounts that produced the highest returns. They found that account holders that did NOT 'manage' their accounts or died were the most successful. You can earn more in your investment account by NOT touching your money. When you let someone 'manage' your money they tend to waste it and then charge you to boot. Warren Buffett's teacher, Benjamin Graham, once said: Buy stocks like you buy groceries not perfume. Just buy the stock market index and keep buying. You own the most profitable firms worldwide. Recently, Warren Buffett has proved this strategy. 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.' He won!  Time and buying a broad group of stocks is what it takes to build a nest egg. Over 30 years, the index earned 11% a year vs 3.79% for a ‘managed’ account.

Do you really need an emergency fund? Make it tax-FREE
Nearly 3 in 10 of us dip into our retirement savings, according to Transamerica. Common reasons for taking 401(k) loans or hardship withdrawals include paying down debt, unplanned medical expenses, and paying for higher education. According to Forbes.com, most of us are taking vacations that we can't afford. One study they quote says that 74% of people say they'll go into debt to pay for their vacation. On average families spend 10% of their annual income on vacations! These withdrawals may get you through a tough time, but they also destroy the growth of your retirement savings, and you could pay penalties on these distributions. You're better off setting aside money for emergencies in a separate mutual fund. Aim to have three to six months' worth of living expenses. When we take from our retirement funds, we destroy the miracle of compounding in the future. We could end up with less than $5,000 in retirement, according to a Northwestern Mutual study. Statistics show that 80% of working people are living paycheck-to-paycheck. Time is the key to compounding and starting over after an emergency devastates a nest egg. Compare how long it takes to catch up with our savings if we have to start over or start late from this graphic: http://www.saferchild.org/power/

10 Best Used Trucks Under $10,000
New trucks cost a fortune $60K. They have a large profit margin for makers. Snatch a 2009 Super Duty F-Series XL with a 5.4-liter V8 for just $9,856. Check the 2008 Professional Grade GMC Sierra 1500. Watch for a 2007 Chevrolet Silverado 1500 Regular Cab or a 2005 Ford F150 Super Cab Pickup for under $10 grand. See a 2009 Nissan Frontier King Cab or a 2012 GMC Canyon Regular Cab for younger ride. I like the 2007 Honda Ridgeline for $9,900. Don’t forget the 2010 Ford Ranger or the 2008 Toyota Tacoma for better highway mileage. #1 worker is the 2009 Toyota Tundra V8.

Many corporations pay NO taxes!
We pay their tax bill, eventually—debt is now $22 Trillion and counting—a $65,600 per person. Avoid future tax increases. You may not have started work with a $100-200 million boost from your father like Trump, but you can create your own tax-FREE stream of income like his. Clearly the Trump tax plan helps businesses and the wealthy. There is no reason why you cannot benefit from the tax code too. Using § 408 of the IRS code, you can create an unlimited account that grows without current or future tax. It eliminates taxes when taken out for your needs and can pass to your heirs totally tax FREE. No matter what your income, this helps you avoid future taxes to pay off the national debt. 
       With the recent increase in the national debt, you can avoid the future tax increases that are sure to strike most working Americans. Many American corporations and wealthy people have moved their wealth, corporations and the good-paying jobs to other countries. Many avoid taxes with complex tax shelters and subsidiaries
       Luckily, there is a way for you to avoid paying their taxes. You can use a FREE special IRS-approved tax shelter to protect all your savings and investment earnings. You can build a $1/2 million fund by investing $250 a month over time. You can use the tax laws for your benefit like the people in the top 1% income bracket do!

New Jersey insists brokers/advisors MUST give us ‘best available options’
Under the New Jersey regulation, brokers would have to make recommendations about securities and provide investment advice "without regard to the financial or any other interest of the broker-dealer, agent, adviser, any affiliated or related entity … or any other third party." Brokers also must recommend the "best of the reasonably available options" when opening or transferring assets to a specific type of account or suggesting that clients purchase securities or other investments. The proposal also states that disclosing conflicts of interest is not enough to comply with the rule.

Trump new tax avoidance scheme for his buds
IRS has published the new regs for avoiding taxation for Trump’s family and friends’ ‘opportunity zone’ investments. They get to delay taxes. Ivanka and consort Jared have already jumped on this at the Jersey shore. It offers massive tax breaks to developers who invest in ‘downtrodden communities’ like Long Branch, N.J., where oceanfront condos list for $2.7 million. Investors who have capital gains from previous investments can defer taxes if they move them into Opportunity Zone projects. And they can permanently avoid paying taxes on any new gains from investment in the zones if they hold onto the investment for a decade. Thus Trump’s family and friends have set themselves up for FREE money for their future.

Study over 30 years show how to live healthier
The results showed a correlation between healthy behaviors and cardiovascular issues: Women and men who maintained the healthiest lifestyles were 82% less likely to die from cardiovascular disease and 65% less likely to die from cancer when compared to those with the least healthiest lifestyles over the course of the roughly 30-year study period. The study suggested that maintaining these five habits could add up to 10 years or more to a person’s life: 1. Maintain a healthy diet 2. Exercise daily 3. Keep a healthy weight 4. Limit your alcohol intake 5. Don’t smoke.

**************

Make America, “The Don”, Great Again
Truth isn’t truth, his lawyer says

Two Americas: A Banana Republic? Do we really want an infant king? Daddy Putin!

***********************

How Govt wastes our money: Congress spends $1.3 Trillion we don’t have! 
GOP Tax Cut. The cost of interest on the national debt runs $896 million each day.
Your portion of this debt is $65,600: Avoid the future taxes to pay just the interest.

Can Wash actually do something? How about stopping robocalls? Lobbyists say ‘NO’

SCAMS/SPINS:
Trump to end new overtime rules: Workers lose $1.2 billion under Trump rule.

TX claims huge voter fraud problem: 3 cases actually prosecuted; Political trick!

Lobbyists tell our Reps to make tax prep harder not easier: More pages; more profit
Trump to cut funding for disabled persons using excuse ‘cut administrative burden.’

Who pays for $500 Billion healthcare ‘administrative’ costs? We do, like another tax.

Erica Salda Wendy Foster CA caught stealing $ millions from elder: intimidation.
James Schwartz, NY, caught churning clients accounts lost $660,000 banned; no jail

CMFG Life Insurance WI caught shorting life insurance payout to beneficiaries
GE finally pays fine for selling defective mortgages in 2007-8. Many lost home/savings.
Etienne Allonce, Med Solutions, NY caught stealing $10 million from Medicare

Alexa workers listen to your family talk: BEWARE tapes may show up at your trial.
2010-14 Prius electric still fails: recall fix did not work

It took 32 kids’ deaths for Fisher-Price to recall “Rock ‘n Play Sleeper”: capitalism kills.


1. “Russia, find Hill’s emails” 2. Don’s Mob made Russian deals 3. Russia tricked voters 4. Polling data payoff 5. Special Russia deals 6. Fire FBI 7. Refuse give testimony.

The Mob Boss can never go to jail: Trump has Kava as Supreme so no indictment.
‘No man is above the law’ … well up till now. Dictators nullify courts first, then votes.

Jobs:
Studies say playing vid with friends more important than study in library. Who, not what?

Who owns your account now?
Doctors want to improve ObamaCare: protect and extend coverage for all is goal.
Adults tell how to improve financial wellness: easy advice to follow but takes vision.

Miracle:
Nuns get away with child abuse too: “we would have sex. Not a relationship, sex.”

Even one dog can make a difference: https://www.youtube.com/watch?v=vjpLTT3WzAw

Listen Don! Houston police chief says deporting child without family is what Nazis do.


IAN
41 Watchung Plaza, B242
MontclairNJ   07042
973.746.2014
Alerts

No comments: