Our
‘Representatives’ let the rich pay less tax than we pay
A married couple
making $200,000 a year could end up paying higher tax rates than a person
making $200 million a year. That is the conclusion we see from analyzing
the 15
top income earners. Some pay nothing just like the most profitable
corporations. Who makes the rules that make the American progressive tax
system a lie? They are the people we elect who take campaign
funds (bribes) from these same
wealthy folks. As one of the wealthy admitted: "We don't pay taxes.
Only the little people pay taxes." When our Reps create systems that help
wealthy folks hide their income, the tax rules can’t be used. The rich have
no earned ‘income’ to tax. They hide
their assets in legal entities that can’t be taxed by any method. Meanwhile working people pay about
32.9% total tax. We can’t avoid SS, Medicare, property, Fed and state
income taxes. We can’t hide from taxes since we don’t have dummy corporations,
trusts, oversees entities and many other legal tricks. For instance, Jeff Bezos
with $177 BILLION net worth had so little ‘income’ in a couple of recent years
that he was able to pay $0 in federal income taxes in those periods. Our
Congress creates loopholes so the rich have NO income—so no taxes—and never get
audited. For instance, they
can live on a loan financed by their assets. Loan income isn’t taxed: a $
billion asset can produce $100 million a year. The IRS can’t even
figure out their schemes. We live under “socialism for the rich.” We pay for the airports, highways, sports
teams, courts, police, military, subsidies
they use. They pay little.
https://www.amazon.com/Americas-Socialism-Rich-little-people/dp/1535218584
When to start taking
your Social Security benefits?
Use this free
calculator to maximize your benefits: https://opensocialsecurity.com/.
There are a lot of issues in this decision for some people. SS benefits are
usually taxable. For others like myself, I had to begin early because I could
find no work in my career field. For others like my wife who was still working
and building her final pension, the wait till age 70 was a way to increase her
benefits to the maximum—about $1 million. Your situation is unique and this
decision is worth between $500,000 to $1,000,000 in income over a lifetime. Get
help using free sources, including a visit
to your local SS office or pay a fee-only
financial planner to help you calculate all your income sources and
potential tax situations. A commission or paid-fee sales person may not provide
the best unbiased advice. Always get a second opinion if a certain product is
recommended.
https://www.amazon.com/Lets-Do-Numbers-Creating-Retirement/dp/1502775522
How much tax did you
have to pay for Twitter?
Musk bought Twitter
with loans instead of selling his stock. He paid no
taxes by using his ownership of Tesla to get the loan. You and I would need
to pay capital gains tax if we sold our new car to buy an older car. When
people buy a car from him, you and I give Musk a $7,500 subsidy—total
$7,021,290,000 on 936,172
sales in 2021. Despite selling all those cars, Tesla
paid nothing in taxes on a record profit of $5.5 billion in 2021. You and I
pay more taxes/national debt since Tesla paid nothing. Elon Musk's net worth
has surpassed $300 billion but he pays taxes at a rate much lower than ours. Elon
Musk paid less than $70,000 in federal income taxes between 2015 and 2017, and
he did not pay anything in 2018, according to recent reports. But even
though we helped Elon pay for another asset he owns, we will receive nothing
except paying for his avoidance of taxes. We and our kids will pay for the
subsidies over time as we pay off the national debt. When people sue Musk for
his mistakes, we pay for his use of court and judges from the taxes we pay and
he doesn’t. It is a great system for the wealthy and powerful.
Avoid paying the
taxes he should pay: https://www.amazon.com/Tax-Shelter-Avoid-taxes/dp/1985448300
Tax-refund
Millionaire-- https://www.irs.gov/refunds
Most people spend
their tax refund—your refund could be a retirement nest egg
Michele had trouble
saving. She seemed to always be waiting for her next paycheck. She never had
enough to save for a rainy day like her Mom did. She used to make about $35,000
as a shop manager but with federal, social security, Medicare and state taxes,
unemployment, disability, and health insurance, she was not able to put
anything away for retirement. Years ago, her local tax preparer suggested she
use her tax refund to create a retirement fund. Usually Michele would use her
refund to pay bills or buy something special. The tax preparer said that if she
agreed to start an IRA with $2,000 of her refund, she would be able to increase
her refund—Uncle Sam would help her save. The amount she invested would reduce
her income and make her refund larger. The $2,000 could grow over time, if she
left it in stock mutual funds in her IRA account. Over time, it has grown large
enough that she will have enough for retirement.
I will help you
start in 1 hour: https://www.amazon.com/Tax-Refund-Millionaires-Let-Uncle-Help/dp/149595644X
Which portfolio is
the best for you now?
We are entering a time of high inflation and higher interest rates. What your
advisor should be emphasizing now is a broadly diversified portfolio. Some
advisors are pushing crypto
for retirement even thought crypto is a speculative asset. Crypto may sell
TV time but beware
the dangers. Stocks are necessary because they are the most likely to
overcome inflation in the long run. When interest rates are rising, fixed rate
bonds are going to decrease in value. The bonds you can buy today will provide
less interest in the future so few will want them and they will be reduced in
price. When you compare the potential value of commercial real
estate, you will hold on to your REITs. Commodities have been on a wild run
recently with the Vanguard Index
hitting 56% for 1 year. This fund represents a potential hedge against
inflation risk and as further diversification for a traditional stock/bond
portfolio. Keeping your money in a portfolio with a set of low-cost funds
may be the best way to deal with the current uncertainty. No advisor can know
the future so controlling your costs and taxes may be the best choice for now
and the future. Learn
yourself and save.
https://www.amazon.com/Millionaire-Mutual-Funds-Save-taxes/dp/1534939490
Annuity substitute
The annuity industry
is pushing for Congress to have your employer include these expensive products
in your 401k retirement options. Instead of moving your money to an IRA and
taking the money for retirement income monthly, you would pay an insurance
company extra to send you a monthly check. Employers used to offer a pension
that you could count on to never run out of money. In return for your loyalty
working for your company for 20-40 years, your boss would make sure you had
income for the rest of your life. Sometimes employers even continued paying
your spouse and included health care too: no longer. Since the 1980s, employers
took the money for pensions and increased payout for senior management and
stockholders. Employers passed the expense and investment risk to working
people. Managements were still guaranteed their $ millions. The employees were
given a couple of bucks to invest without knowing about investing. Most have
done a poor job of guaranteeing a living retirement income. Employers are happy
to pass on the responsibility to the insurance industry by encouraging workers
to pay more for an annuity. The selling point is lifetime guaranteed income—but
at a much smaller amount.
Consider annuity
alternatives: https://www.amazon.com/Best-Annuity-Strategy-Income-Growth/dp/1497532019
A cost-effective
emergency fund
If you own your home
with some equity, you can set up an emergency fund at no cost. If you had an
emergency expense like medical emergency surgery that was not covered by your
health plan, where would you get the money? Would you go to your family, a 25%
credit card, or file
bankruptcy? A low-cost alternative would be a HELOC—a home equity line of
credit. At the
current 4% interest, you would be able to handle your emergency now and pay
back the self-loan at your own pace and avoid overpaying for interest. HELOC
amounts are tied to the equity in your home, a good credit rating and home
appraisal. There are no closing, administrative or lawyer costs—little or no
out of pocket costs until you use your line. Save $3,000 on fees, commissions,
overcharges. Save $3,000 a year: https://www.amazon.com/Insiders-Guides-Discount-Financial-Services/dp/143480593X
********ACCOUNTABILITY**************?
Like 1776, this
period is a test
of democracy—We
rejected an "American
fascist" once
The
Path to Dictatorship: 2010-2030
Parallels of this era in the past
may hint at our future: democracy breaks apart legally
Billionaires
paid $881 million for votes in 2022
midterm elections
Nov 2020 Wealthy
discredit election process
Jan
6 2021 Direct
govt overthrow failed: guns
& bombs ready
Trump
engaged in a "criminal
conspiracy" to stop Biden
“I
don’t f—ing care that they have weapons”
Trump was “detached
from reality”
Trump
used mafia-style intimidation on the defenseless
Trump still terrorizing
election woman
Parscale: “a
sitting president asking for civil war.”
Trump:
“Just
say the election was corrupt and leave the rest to me”
GOP fascism: “RINO
hunt armed; no bagging limit” J6
comm threat
January
6, 2021 “A
date which will live in infamy”
Trump’s Supremes END
personal rights & state
laws except for weapons
WMDs
Fascism: GOP
to stop women leaving state for abortion
It’s
not a court. It’s a junta: Two Americas
Trump: President
Biden is 'enemy of the state'
Christian
Nationalist Party (CNP) replaces
GOP
Apr 9 Illustrated
Anne Frank book removed by Florida school
Apr 21 Trump: “I
am your justice”
May 9 Trump
guilty of sexual abuse
Jun 8 Trump
indicted by the United States of America
Violation
of the Espionage Act
Conspiracy to obstruct
justice
Making false
statements
Conspiracy to defraud the
Conspiracy to obstruct
Congressional proceeding
Obstruction of and attempt
to obstruct an official proceeding
Conspiracy against right to
vote
Attempted coup
d'état by
any other name
350+ people have
been sentenced to jail or prison.
Trump and His Gang Get the Mob Treatment
Aug 4 “IF
YOU GO AFTER ME, I’M COMING AFTER YOU!”
Mobster
#1 Enrique Tarrio gets 22 years
Mobster
Stewart Rhodes sentenced to 18 years
Mobster
Ethan Nordean gets 18 years
Mobster
Dominic Pezzola sentenced to 10 years
VIOLATION OF THE GEORGIA RICO (RACKETEER INFLUENCED AND
CORRUPT ORGANIZATIONS) ACT SOLICITATION OF VIOLATION OF OATH BY PUBLIC OFFICER
CONSPIRACY TO COMMIT INIPERSONATIN PUBLIC OFFICER FIRST
DEGREE
CONSPIRACY TO COMMIT FALSE STATEMENTS AND WRITINGS
CONSPIRACY TO COMMIT FALSE DOCUMENTS
FORGERY IN THE FIRST DEGREE
CONSPIRACY TO COMMIT FALSE STATEMENTS AND WRITINGS
FILING FALSE DOCUMENTS
SOLICITATION OF VIOLATION OF OATH BY PUBLIC OFFICER
FALSE STATEMENTS AND WRITINGS
SOLICITATION OF VIOLATION OF OATH BY PUBLIC OFFICER
FALSE STATEMENTS AND WRITINGS
Jan 2025 Dictator
pardons himself: his Supremes agree
How Govt wastes our money:
1.4 million wealthy
Americans failed to file returns: $66
billion we pay for them
4%
extremists rule/shut gov: helps ‘wannabe
dictator’ become
President Germany
Collecting rocks
from Mars costs
$11 billion: too much!
NASA's vision for homes
on Moon by 2040: but human
body can’t take it
SCAMS/SPINS:
Trump
Sharing Submarine Secrets Rocks Defense Community
New iPhone also
doubles as an expensive
hand warmer automatically
phone-notifications-are-messing-with-our-brain
708,000
Ford SUVs probed over catastrophic engine failures tied to a faulty valve
Chase Bank Customers
Report Account
Glitches, Again
Morgan
Stanley raising prices in 2024: advisors and firm taking bigger cuts
Video
promoting dental
plan with AI version of me.” It is not me, Tom Hanks' said.
If
you Claim Social Security Early, Take These Steps to Avoid
TAX Surprises
Beware:
improper
deductions for art donations: promoter’s exaggerate
Scam:
Robo Portfolios Vary
Widely for Same Client Profile: Morningstar
Cody Robert
Roos caught falsifying
clients’ documents: 4 month suspension
Tony Barouti LA
caught selling
GWG bonds (defaulting) $7.85 million in complaints
Jobs
Heart disease twice as likely among men doing unrewarding work
Teacher shortfall: teachers
still earn about 17% less than well-educated workers.
If immigrant labor were eliminated from the dairy industry, price
of milk would double.
The UAW strike targets Three automakers,
but suppliers are feeling the pain
jobs.interestingengineering.com/
How
to Find Jobs at Small Companies
Keep meetings on target:
Think small. Don't be afraid of
micro-meetings.
Break habits. Many of us schedule
30-minute meetings but really think about how much time is needed for your
catch-up.
Be punctual. Conversation about what's
on the docket or what you had for lunch should stop at the meeting's scheduled
start time. This also signals to all the attendees that you value their time.
Present with purpose. Six slides (with
few words, clear points and color!) is a good rule of thumb.
Include everyone. Whether you're
leading the group or are an attendee, make an effort to bring in the thoughts
and ideas of quieter participants.
70% of employees say they've
lied on their resumes
Who owns your account now?
Medicare Open
Enrollment starts October 15! Review
drug and health cover to ‘24.
Oct. 16 tax filing extension
deadline nears for millions of taxpayers
New covid vaccine: https://www.vaccines.gov/ free to millions
Social Security
rules on kids’
benefits
Best stock index funds/ETFs:
best-u-s-stock-index-funds-morningstar/
Five lifestyle
choices for longevity:
stress, movement, sleep, connected, think positive
Ozempic: weight-loss
drugs could hurt demand for high-calorie, high-fat. sugary foods
Your
pension outsourced: Most corporations with defined benefit plans to
transfer out
Creative Planning
acquired a Philadelphia-area firm, Kistler-Tiffany
Advisors
Edelman Financial
Engines has acquired Align
Wealth Management
Miracles:
Catholic Church uses
legal trick to avoid
response to 600 sex abuse victims: 150 clergy
Pope Francis created
21 new cardinals in the field who will help enact
his reforms
Thousands of Fish,
Dolphins Dying in the Amazon as Water
Temperatures Soar
Planet’s average temperature
broke the previous September record
Homo sapiens already
had a foothold
in North America during the Ice Age.
@
Our Universe is Mind-Blowing
Light is both
a particle and a wave depending on how we look at the light.
I
don’t think that there is any such thing as a position or a velocity of a
particle.
Everything (galaxies
to stones) in universe made of subatomic
energy ‘vibrations’
A subatomic ‘particle’
is the smallest possible vibration (quantum) of a quantum field.
A ‘particle’ is an event;
not an objective thing. This event is set of complex relationships.
Mass–energy equivalence:
E=mc^2. At the smallest level;
Everything is moving
Energy into matter: scientists
converted light energy directly into matter in one step
In place of atomic
lattice, light
waves used to create an optical lattice with same geometry
Physics Nobel Prize:
“entanglement” 2
particles share info instantly at a distance
Quantum
mechanics violates local realism: two objects behave as single system at
distance
“It may be that gravity and quantum mechanics are exactly
the same thing,” Leonard Susskind
Gravity
might induce the collapse of quantum vibrations into 1 quantum state—our
world
Strange state
of physics that allows energy
to flow frictionlessly through a material.
Bending light from
extreme gravity reveals largest black hole
so far
Curved
SpaceTime: heavy masses and simultaneously quantum effects become visible
There is no TIME at this
level because of force fields come and go in all directions.
Universe expanding: events
may not come together like they did before: created our time.
Our planetary
system: rarest
system: only 1% of all systems with same number of planets
Stars fueled by the self-annihilation
of dark matter might have been spotted for the first time by JWST
Inside protons,
neutrons, it
is the fields of the virtual particles that creates its mass.
Gold
made from neutron stars: collisions produce more neutrons:79 protons,118
neutrons
The proton
is so complicated science still finds new energy entities/forces every
year.
“Empty space is a
boiling, bubbling brew of virtual
particles that pop in and out of existence in a time scale so short that you
can’t even measure them.” Space expanding.
New method to study systems
with long-range interactions: previously puzzling experts
The electricity we use comes
from the field around the wire not from electron itself.
Scientists
build 'baby' wormhole as sci-fi moves closer to fact: inside quantum
computer
starts-with-a-bang/universe-expansion-not-accelerating/
Physicists knew black
holes eventually disappear particle by particle. Now they think everything
else does, too.
Astronomers
discover raw
materials for life are present all across the Universe: methyl cation
@
We can apply for
Medicare online: https://blog.ssa.gov/apply-for-medicare-online
We can apply for Social
Security online: https://www.ssa.gov/benefits/retirement/
We can apply for
health care online: https://www.healthcare.gov/
IAN
973.746.2014
http://www.theinsidersguides.com/
Alerts available at http://dankeppel.blogspot.com/ No AI used in these comments
No comments:
Post a Comment