Today’s tax breaks will cost us many times over
Recently Tesla motors ‘shopped’ its new factory to CA, NV,
TX, AZ, and NM. The winner, Nevada ,
had to give Tesla FREE
taxes, land, roads, sales and payroll taxes. And the integrity of American
honor. It cost NV $200,000 for each of
the projected 6,500 jobs in the middle of the desert. Workers will have to
use trailers to live in and buy groceries hours away. Each of our states must
now give away the ‘ranch’ to get global capital to build in our state.
American corporations have gone to the ends of the earth to lower
our standard of living so they could pay bosses 350 times what
we earn. Extracting benefits from all taxpayers while they pay less tax will
turn America
into a 3rd world country, like 19th century Honduras .
Bosses can live anywhere.
It typically has stratified social classes, including no middle
class, poor working class and a ruling plutocracy of business,
political, and military elites.[1] This
ruling elite exploits the country's economy.[2]
Corporations
can now buy the elections too.
Most of the wealthy pay 15% of income in ALL taxes while we
pay 34%. http://www.amazon.com/Only-little-people-pay-taxes/dp/1478222441
Is Identity Theft
insurance right for you?
Many companies offer identity theft protection, but the
industry is unregulated and is basically a scam. You and only you can clean up your record with credit agencies and government
departments. The promoters can’t stop ID theft as it happens.
Best cure: use passwords that can’t be guessed from your
Facebook identity.
About 16.6 million people suffered $24.7 billion in
financial losses due to identity fraud—data breaches of businesses and a lack
of adequate password protection. However, this does not include the time and
money you spend repairing your credit after ID theft “insurance” (it is not
insurance) did NOT pay off. In fact, the biggest seller of theft protection,
banks’ credit cards, have been fined over $1 billion. Industry pioneer LifeLock
has been cited for its bad behavior too but not shut down.
The ‘coverage’ is full of loopholes—things not covered
include your monetary losses. Most losses are already covered by banking and
credit laws that limit your liability to $50 per account (NEVER use debit card).
Since about 80% of reported identity theft is actually the result of lost or
stolen debit and credit cards, the threat you pay for is hardly ever realized.
The service advertised is just BS—No one can know when or where data will be
stolen and then it’s too late. Carry one credit card. Use passwords like
T^U*($f.
Swiss Refuse To Give Up Millionaires’ Tax Breaks
Swiss voters refused to give up a 152-year-old tax break for
rich foreigners in Geneva and other
wealthy areas that the government says helps the economy. Fifty-nine percent
voted against an initiative that would have abolished a system allowing foreigners to duck income and wealth taxes
by negotiating lump-sum payments with Swiss cantons, the government said
yesterday. The Swiss government has said abolishing the regime known as the
“forfait” would have cut tax receipts and led to job losses as wealthy exiles left Geneva and other French-speaking
cantons that are home to most beneficiaries. Geneva
has 74,300 millionaires, the greatest concentration of any city.
Forget Geneva —Avoid
future income taxes on your earnings here in US: http://www.amazon.com/How-Retire-Tax-FREE-Income-increases/dp/1484156951
Can you contribute to an IRA after age 70?
No. However, there is a better way to save and/or leave a
legacy. If you don’t need your income now from
working but you want to keep building assets, the best way is to contribute
up to $6,500 to a Roth IRA. You don’t get the tax deduction like an IRA, but
you also don’t get the tax bill later on. Yes. The contributions and earnings
are all Tax-FREE when you take them out or when you leave them for family. You
only need earned income. Gail took her required distributions from her reg. IRA
starting at age 70, paid tax and sent the $6,500 back to her Vanguard Roth
account. She is buying Wellesley
Income (stocks and bonds) for $18 per $10,000. By age 85, she could have
$225,000 tax-FREE for unexpected medical needs. Her legacy could be $ 1/2 million
income-tax-FREE to her adult child like life insurance, except the Roth is
cheaper than insurance and better than an annuity: http://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016
Best way to get grandchild investing—use the Buffett
strategy
Forget a 60” HD or Iphone 6 or even EE bonds for the
holiday. Give them a TAX-FREE future nest egg by getting them started with a
Roth IRA. Even if they only earn an allowance, you can make the contributions
for them up to $5,500 a year. Put them in a low-cost stock fund like Vanguard’s
500 Index. It costs only 0.05% (not broker’s 1-2%). $3000 a year will grow to
$1.2 million at 11% a year by the time they need it. http://www.amazon.com/Where-can-your-child-invest/dp/1492164240
Women earn less but save more than men
Even though men make $1 to a woman's 77 cents, women were the
bigger savers over the past 12 months. For men and women with similar salaries,
up to the $150,000 mark, the women have more money in their 401(k) on average,
according to new data from Fidelity Investments. Women
earning between $20,000 and $40,000, for example, have saved an average of
$17,300 in their 401(k), as of the year ended Sept. 30, 2014 . Men in that income range have an average
of $15,200 in their account. Fidelity's data are based on 13 million accounts.
Women are better investors too: http://www.amazon.com/Ensure-Your-Financial-Health-Wealth/dp/1466388293
PA will cover 600,000 UN-insured—No more bankruptcy from med
bills
Effective Jan. 1, Pennsylvania will expand its Medicaid
guidelines to make an additional 600,000 people eligible for taxpayer-provided
health care, while an overhaul of its existing Medicaid program will affect
benefits for an estimated 900,000 adults already on Medicaid. Named Healthy
Pennsylvania, there is little difference between Healthy Pennsylvania and a
Medicaid expansion, as it was envisioned by the 2010 federal law. The expansion
will make health care available to childless working adults under 65 with
incomes up to $15,500 this year. Until now, they were largely ineligible for
Medicaid.
www.compass.state.pa.us
866-550-4355. Finally, PA people let Gov Corbett go!
Sam’s Club
offers health insurance to business
The big-box
members-only warehouse decided to offer health insurance to its customers
through a private health care exchange because those small business
owner-members were asking for it. In October, the retail chain said it was partnering
with Aetna to offer health insurance to members
through a private exchange to small businesses. From their surveys, the two
things small business owners requested was getting the right products and
second was help with their insurance. “We are in the small group business
already, we have a small group exchange and we thought we could private
solutions right off the top that would help make a difference.” Sam’s Club is
not getting paid in the process and is not the agent. Sam’s insurance is in 21
states so far.
Employers need to buy only what they need: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083
Penalty for NO insurance costs more than premiums
Obamacare requires that most everyone have health insurance
or pay a penalty - which is set for a steep increase. In 2014, under Obamacare
or the Affordable Care Act, the maximum penalty for not registering for health
insurance coverage is $975. Obamacare does allow Americans to go up to a
maximum of 3 months without coverage, but fines will be issued from the IRS for
not registering. The penalty will be
withheld from federal income tax returns and the amount will be deducted from
future refunds. There are exemptions for certain groups including premiums
exceed 8% of one's annual household income. The majority of people uninsured
today can find a policy for $30 - $100 per month, taking into account subsidies
and Medicaid eligibility. Some will carry higher deductibles and co-pays. Costs
will also vary from one state to another.
GOP crazies
Progress has been reversed by 21st century
business leaders
Fortune,
of all places, highlights our social progress BACKWARD. Proof: Open-plan office
space=factory floor of Dickens’ time, wages flat since 1970, reduced work
‘benefits’, no pensions, more hours—always ‘on call’ with cell, no union
protections, return of robber-baron bosses, job security for only one day at a
time, “systematic” unemployment, etc
GOP looking for new ways to DISrespect the president: Ted
Cruz wants to hold up Obama’s nominees, others consider shutting the government
down, and keep Obama from giving his
State of the Union address. Some want to ‘censure’ the president, others to
sue him. Many in congressional leadership think these ideas are nonsensical,
since it will not serve any practical purpose.
Never stopped them before!!
David Brooks, conservative, says Ferguson
shows the class not race divide
“There has been a migration away from prejudice based on
genetics to prejudice based on class.” “This class prejudice is applied to both
the white and black poor, whose demographic traits are converging.” http://www.nytimes.com/2014/12/02/opinion/david-brooks-class-prejudice-resurgent.html
SCAMS Why are
we still
paying $700 Billion a year for WWII
deployments?
We are paying for 164,253 of our active-duty armed personnel
to be in 150 countries around the world. We have about 50,000 in Japan Germany
Are we preparing for WWII again? There are 1,208,083[1] armed
personnel in the United States .
Our taxes pay for about HALF of the WORLD’s military expenditures
every year. We have wasted $398.6 billion
so far on the F-35 program—they can’t
fly safely.
We just can’t afford to pay for everyone else’s defenses
anymore.
Japan, Germany and S.
Korea can pay for their own defenses.
The War on Terror requires SEALS’ attacks on top terrorists
at their homes. Iraq
proved converting a nation to Western-style republic doesn’t work.
Keeping 10,000 in Afghanistan
for what?
The United States
is preparing to increase the number of
troops it keeps in Afghanistan in
2015 to fill a gap left in the NATO mission by other “contributing” nations,
according to three sources with direct knowledge of the situation.
NIZAR OTHMAN, the former principal of NAOK Financial, was
sentenced today to five years in prison for a fraudulent investment scheme in
which OTHMAN lied to victims and tricked them into paying him over $2 million for
purported investments with supposed guaranteed
rates of return. In reality, OTHMAN did not invest the funds as promised,
and instead, used the funds largely for his own benefit.
Paul Greenwood, former money manager who once co-owned the
N.Y. Islanders was sentenced to 10 years for participating in a fraud valued at
roughly $554 million that lasted more than a decade. To hide the
misappropriation and lack of profitability, Greenwood
and his partner issued $554 million in promissory
notes to investors. The receiver has recovered about $900 million, close to
90 percent of investor claims.
"I've lied, I've cheated and I've stolen.”
IAN
41 Watchung Plaza, B242
973.746.2014
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