GOP new tax plan gives to rich; takes from poor—socialism
for rich
Ryan’s stimulant plan wants to lower
the top tax rate from 39% which no one pays to 33%, cut corp rate to 20%
from 35%, cut capital rate to 12.5% from 15%. This “tax cut for growth” plan failed
in KS but GOP ignores disaster. GOP pays for cuts by adding a “consumption”
tax—a
socialist-style sales tax. You and I will pay extra tax on purchases: EVERYTHING.
Socialist countries call it VAT, ad valorem
tax. Trump’s Mr Christie already started with gas tax in NJ. (Wealthy use
jet fuel not regular.) Your federal income tax will be 12%, 25%, or 33% up from
10%. We lose
deductions for state and local tax plus our mortgage interest. So Mr
Buffett and Trump would pay less than 17% total tax now
and we would pay more than the 32.9% total we pay now. This is the tax
scheme that Greece has and everyone avoids paying tax by using the underground
market or send
their money outside the country. Many US
corps and rich
send their money overseas too.
Shield your future from taxation: https://www.amazon.com/Tax-Shelter-Young-Americans/dp/1500426520
Is your advisor taking too much of your earnings?
Your advisor’s 2% costs—fees, commission, trading taxes,
poor timing—may be taking 63% of your potential nest egg over time. Do the
math. If you earn 7% and they take 2% you may be giving away the best part of
your retirement. There are non profit money managers that are better for you
and your future. That is what the “fiduciary rule” is all about. Why would the
industry be fighting the “best product for you” rule? Who do you think pays the
$560 billions they take each year? You put up the money. You take the risk. You
should pay them only if they can do better than average, right?
Pay less—earn more: https://www.amazon.com/Millionaire-Mutual-Funds-Save-Fees-taxes/dp/1534939490
Did your portfolio lose 4% last Friday?
World events cause people who are impulsive to lose money.
If you sold, you just locked in a loss. Ask yourself, do the companies you own
derive ALL their earnings from Briton or the EU? If you own a portfolio of
stocks like most broad index funds or ETFs, isn’t this event exactly WHY you
own a group of stocks? If you sold,
how will you know when to buy back your shares? Will you be happy with 1% from cash
equivalents for the whole year? What if stocks bounce back to earn 7% for the
year? Will you be angry with yourself or advisor? Is it likely that you will end the year with a
loss from a well diversified stock fund? If you didn’t sell, is this a good
time to buy more? If you sold, how do you plan to pay for all those taxes? Advisors
don’t have to pay your taxes.
Buy when there’s a sale:
https://www.amazon.com/basic-facts-about-learned-before/dp/1534665544
HALF of us have less than 3 month’s security
30%
of us have NOTHING in reserve. If we lose our job or car brakes, we must
borrow or make a big change. Looking for another job or brake job without money
is tough—even impossible. Make
a start with loose change. Every day drop change into a jar and keep it
safe. You may make saving automatic by depositing your tax refund (average
$3,000) into your savings account. You can even buy a 5 year CD so you earn
more and you are not tempted to cash it in. You won’t mind the penalty if it is
for a real emergency. Some people even keep a credit card/home equity line in
the freezer for tough times.
Video: How to reach any money goal—10 minutes can save your ‘life’:
https://www.youtube.com/watch?v=pUtd3B4jFXY&feature=youtu.be
Millennials lost hope in Social Security—future security
insecure
Most workers under 30 see Congress
ending SS benefits as we know them. Bern’s promise to expand SS was heard
but not believed. Like “free college,” we just don’t see the GOP letting it
come to a reality. Lobbyist like Wall Street and NRA have captured the
democracy’s process of creating a path to future. Don is looking backward. Review
Jack Kennedy’s challenge: So
let us begin anew — remembering on both sides that civility is not a sign of
weakness, and sincerity is always subject to proof. Let us never negotiate out
of fear. But let us never
fear to negotiate. Let
both sides explore what problems unite us instead of belabouring those
problems which divide us.
Hope for best; plan for worst: https://www.amazon.com/Are-you-ready-retirement-worst/dp/1491002662
What is your retirement income withdrawal strategy?
Annuity money is taxable as income not capital gains. You have
to start liquidating your IRA and 401k by age 70.5 using the IRS-timetable
not yours. Which
account do you tap first? And last? Which assets to give to family now vs
legacy at death? Will you owe estate tax and how can you avoid it? States have
estate and inheritance
tax starting as low as $25,000. Do you need a planner or lawyer? Who
inherits your IRA set up 30 years ago? Does your ex’s family receive anything? Should
you convert your IRA to Roth IRA? Make your plan or gov uses its plan: https://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016
Taking free money at work?
Are you passing up FREE money at work? If you have a 401k or
pension plan, does it offer to match your contribution? If there is no match at
all, you should consider starting your own. Yes, you can obtain FREE money for
your own pension account. For each $3,000 you contribute to this self-directed
pension, you get $30,000 in gains FREE of income tax. You get 25-30% FREE money
because fed and state taxes are NOT due. How? https://www.amazon.com/Millionaire-Mutual-Funds-Save-taxes/dp/1534939490
What
does Trump’s National Socialism stand for?
Don
will cut Medicare and SS benefits “if tax cuts don’t make big
surpluses”
Reinstate older
white male value system: Make ‘WASP”
America Great Again
Put secessionist’s
flag back in public spaces - cemeteries, courts, state houses.
Put up a wall, end trade, bring
back repetitive “robotic” jobs back from low wage areas.
Cut regulation of all business activity, lower
wages for women, pregnancy
Replace ObamaCare: no mandate (tax
credit so you can try to find your own like before)
Cut federal spending on health especially when
control women clinics, Zika
GOP gerrymandering
so they can’t lose some districts … ever.
Replace judges whose parents
came from a non-EU country or any non-Christians.
Increase debt and devalue debt. Let Mexico pay for the Wall
by taxing
imports we buy
Create tariffs on imports
so we pay $6,000 more for stuff we buy. Middle class tax.
Trade pacts are no good for us and no good for our workers.
National right to buy
and carry any firearms anywhere anytime by anyone age 2 and up.
Install state gov that cuts
Medicaid, education, federal payments, infrastructure like
KS.
“Lust
for executive power”—GOP House leader thinks Don wants to just snap
fingers.
“I
could stand in Fifth Avenue and shoot somebody and I wouldn’t lose any
voters.”
Don’s rallies begin with crazies
denouncing supporters--thrown out as “protestors.”
“It’s hard to reason with
people who don’t care about good policy, logic or sound information.”
“The only thing necessary for the triumph of evil is for good
men to do nothing.” E Burke
(Scots were
pushed from homes, offered fake jobs, sued, threatened over turbines)
Waterboarding
isn't "tough enough." CIA: it doesn’t work. It
will when I do it!
I
asked foreign leaders for money even though it’s illegal. I am ‘The Donald.’
“If I were
pres, Supremes
would NOT have reversed TX abortion ban.
"That
could be a Mexican plane up there (in NH) they're
getting ready to attack."?
My real
money went to anti-Indian casino marketing--that’s business, dude.
Hill: My coworkers taking the 5th on my emails?
They don’t know what I did last summer.
Looks
like 1964 all over again. Goldwater had same message for racists and lost.
Paul: ‘This is one of my big concerns:’ Don’s
“lust for executive power.” But he’s it.
Brits
are trying to turn back time to old white male world like Don says he wants.
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!
.VW offer
for your fake clean diesel. Fixing 3L
VW, Audi, Porsche diesel cars SUVs.
.Ikea takes back dressers
that kill kids—only after 6 are dead, 36 hurt—mass killing?
.Prius and Lexus 2008 to 2012 recall 1.4 million bad non-Takata
airbags
. BancorpSouth Bank fined for discriminatory
mortgage lending practices on blacks.
.% of Americans who
own guns has dropped to a new
40-year low but owners buy more
.1st death
by autopilot: car radar can become
“confused” when passing large reflective truck
(“more deaths can be expected as the
autonomous technology is refined.”
.judge blocked MS
law that would've allowed businesses to discriminate gays because religion.
.Honda owners with 2001-3 Takata
bags told to stop driving them till fixed
.PlannedP will fight for women’s
choice in other states after Supremes reversed TX ban.
.Trump
caught using others’ money to claim charity deduction himself: $10K
not $8 mil
We need regulation—GOP wrong—companies/cities
wouldn’t fix bad products on own
Best cars with fewest problems 2016 led by Kia
Surprise! Top
quality car is Korean. Lexus and Lincoln tied at 8th. Rover,
Volvo, Fiat, Smartcar hit
bottom.
SCAMS
Tombstone
had gun control for good reason—it reduced deaths.Congress helps terrorists!
“Restrictions
are seen as a personal affront to men who find
in guns a sense of duty, relevance and even dignity. I’m "good guy
with gun" protecting my own—don’t mess with me.”
$7
million and 2 years of hearings, lot of free press for GOP, but no
indictment for Hill.
Playing
games with our lives and unborn children—GOP: no Zika vaccine in 2016.
IRS warns of IRS “scams” https://www.youtube.com/watch?v=0y5z0kWgBcM
CO Aurora theater shooting
victims must pay court costs of $700,000. Lost life and pay!
Ignoramus Award:
Pope: the Catholic Church should apologize to gay people and
others it has marginalized. What about the kids they raped!
How our government wastes our money
NSA can watch you on your laptop so Zuckerberg tapes
his camera from NSA. Yours?
Congress gets paid whether they work or not—Highlight:
naming post offices is ‘work’?
Goldman Sachs and
Google pledged money to help the Obama
resettle Syrian refugees
Despite global warming deal, US still subsidizes fossil fuel
industries—socialism
for rich
Who owns your account now?
Humana to Aetna
PrivateBancorp to Canadian Imperial Bank of Commerce
Obama forgives $171 million in student debt of defunct Corinthian
Colleges
Kellogg “cereal
boutique” in Times Square will charge up to $9
a bowl.
Five Hong Kong
booksellers who specialized in works critical
of Chinese leaders have disappeared in 1year.
IAN
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Montclair, NJ 07042
973.746.2014
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