Friday, April 1, 2016

Wealthy get another tax break--no audits

Wealthy get another tax break—No audits
You might receive a computer letter audit but the real money will get away from the IRS which has 17,000 fewer people thanks to the millionaire Congress. Most wealthy people pay less than we do—17% versus 33%. We pay payroll, income and sales taxes while they live on capital taxed at 15%-20%. Now they can hide and evade even more taxes in their businesses and trusts and offshore since there are fewer knowledgeable auditors to check on them. Their lawyers are smarter and they have the cash to set up overseas like most big companies. All new Prez candidates’ tax plans are bogus: GOP rich pay a lot less; Dems rich pay a lot more. None will pass. There is a solution for working people: A trust account that allows us to evade taxes on our future income.
Avoid paying ANY taxes on your retirement income: http://www.amazon.com/Tax-Shelter-Young-Americans/dp/1500426520

Painless way to save for your future
The average refund—fed and state—is about $3,000. How long would it take your INVESTED refunds to reach $500,000? 50 years, 40, 30 or 20 years? It costs just $12.95 to start a $1/2 million fund yourself. Salespeople can take 63% of your accumulations over time. Do it yourself and get to $1/2 million in 27 years.

Does your advisor recommend smart “beta”?
The creator of this stock picking strategy Bob Arnott now says the strategy was built on misunderstanding of some characteristics of the stocks in his back test model. 20% of all the ETF advisors use are flawed. Strong results often came from inflated valuations and many strategies were set to crash, he said. Smart beta was lauded by proponents as a way of squeezing bigger profits from indexes by choosing superior companies. The problem as Arnott sees it is that many smart-beta products do no such thing. Rather, they’ve benefited from a herd effect, increasing primarily because investors piled into them and pushed up valuations. Warren Buffett saw smart beta for what it was—dumb.


Did you take your RMD?
Taxpayers who turned 70½ during 2015 must start receiving required minimum distributions (RMDs) from Individual Retirement Accounts (IRAs) and workplace retirement plans by Friday, April 1, 2016. It also applies to participants in various workplace retirement plans, including 401(k), 403(b) and 457(b) plans. The April 1 deadline only applies to the required distribution for the first year. For all subsequent years, the RMD must be made by Dec. 31. So, a taxpayer who turned 70½ in 2015 (born after June 30, 1944 and before July 1, 1945) and receives the first required distribution (for 2015) on April 1, 2016, for example, must still receive the second RMD by Dec. 31, 2016. A Roth IRA is not taxable—ever—so you can leave your family unlimited savings.


GOP Religion creating a conservative Christian theocracy—no compassion, no tolerance
TN wants to make the Bible the official state book to go with .50-caliber Barrett sniper rifle as the official state rifle!
AL wants to require teachers to learn how NOT to have sex with students. Why?
KS wants all students to sue the school if they THINK they see a person of the wrong sex in the bathroom. (How will they know unless they take a picture under/over stall door?) You can now legally discriminate against anyone if you claim you have “a sincere religious belief.” Only those who confess conservative Christianity will be treated fairly in these environments.
WI ends community voter registration drives to bar low-income and non-white voters.
GA passed law like MO to legalize discrimination by using GOP’s version of Christianity as excuse. The almighty Dollar may dissuade Gov from signing bill. GOP Religion allows anyone to refuse a group you don’t like by claiming you hold ““a sincere religious belief” against that person/group. Hate becomes codified in law. In MS “Church Protection Act” lets residents pack without getting permit. Police horrified!
GOP crazies want to turn back time to 1920s when ignorant white Christian men ruled.

How much life insurance do you really need?
Agents like to sell expensive cash value insurance because it pays them more than term. You might like their argument—you get something for your money. None of us has extra money lying around so what to do? You could spend $50 a month on coverage that builds cash value (savings account) or $25 a month for $1/2 million coverage. There are two issues here. First, how much will your family need to continue if you are not around and second, mutual funds are better for long-term savings than insurance. If you are not married now, save for it. If your spouse makes enough to raise your kids, then you need enough cover to pay what she can’t pay for—the mortgage and the kids’ college. If not, double that amount so she can survive till your kids are grown.
Use the Vanguard Top Ten for investing/savings: http://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X


Does our President need to be smart and truthful? Do they even care about truth?

Trump: Cruz denies 5 mistresses—5 > 3 Trump had only 3? Why 5? 5 for the ego!
            Are these guys really running for Pres or just a reality TV show in 2017?
            “[Most terrorists] in Paris/Brussels attacks were in jail where they learned Jihad.
            “My wall will be the greatest wall” so they build tunnels and use submarines.
            “Women need to be punished for abortions and poor women go to jail.
            Border Patrol supports Trump’s wall despite end to their jobs.

            Coke withdrawals convention sponsorship: fears loss of image.

Hill: “I still say I didn’t do anything wrong despite 147 FBI agents checking on me.”

Bernie: “I keep collecting money and having big rallies but not from BIG Dems

Regulators are the only protection we have since we can’t sue anymore
            “It is nearly impossible for one individual to take on a corporation with vast resources.” (GOP bill requires impossible: every person in class action suffer “same type and scope of injury”)
               Supremes stop us from suing—State courts no longer available to sue corporations!

Andrew Caspersen, Park Hill, stole $25 million promising safe debt investment
7 million Americans are now at risk of “man-made earthquakes” caused by oil and gas.
CA will increase min wage $15 by 2022.
Encore Capital and Portfolio Recovery Associates most complaints of fake debt calls.
Guns kill people: Georgia man blows his leg off while shooting at his lawn mover.
Student Aid Institute caught charging fees for bogus debt relief work. 
Tobin Smith Fox TV failed to tell investors he was being paid to promote stocks.  


We need regulation—GOP wrong—companies/cities wouldn’t fix bad products on own

Will you have enough income in retirement? 
Facts: “In this year’s EBRI survey, roughly four in 10 workers — 42% — said they and their spouses have less than $10,000 in savings and investments; 27% of those age 55+ (in fairness, however, another 26% have saved $100,000 or more). Of those without retirement plans, a stunning 83% have saved under $10,000, which makes a pretty strong case for requiring all employers to offer all employees retirement plans, either through a federal or state program.”

Pru long-term care insurance rates will rise automatically
Some customers will see their premium rise automatically due to a change in Pru policy. From now on Pru will increase coverage to keep pace with inflation without asking you first. Pru foresees nursing and medical care increasing every year and it needs to cover costs and profit targets. Thus the increase. For one person, that 16% increase in future coverage comes with a 45% rate hike today, to $442 a quarter from $305 — a rate hike that doesn't require regulatory approval because, in theory, policyholders are free to say no. But Pru now requires a written declination from you to stop increases.


How our government wastes our money
The CIA left “explosive training material” under a Loudoun bus, which shuttled students for two days before it was discovered by a technician during routine maintenance.


Midsize Family car review from Car and Driver
Malibu, Accord, Camry, Mazda 6 have their good and bad so you chose. Long-term reliability breaks the tie. Avoid these 10 duds including Mercedes, Land Rover, Lincoln, Caddy. 

SCAMS
.All new Tax plans are bogus: GOP rich pay a lot less; Dems rich pay a lot more. No GO.
.Local police can keep most of what they seize from citizens even if never charged. Police seized $2.5 billion in cash from people without warrants/indictments. Burglars stole less. “Because police keep more, they have an incentive to take more stuff.”



Who owns your account now?
Sheraton, Westin st Regis etc Starwood Hotels and Resorts to Anbang Insurance China
General Electric’s asset management  to State Street Corp.

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