Friday, November 17, 2017

Just one way to avoid paying the corporate and wealthy tax cuts

There is just one way left for us to avoid paying for corporate and wealthy tax breaks
The GOP has just one ‘corporate subsidy’ repeal in the ‘reform’ bill—“marginal oil and gas wells.” All significant corporate and tax shelters were left in tact. Trump’s mob, Commerce Sec Ross, State Dept. Tillerson, advisor Cohn, Treasury Mnuchin, Fed v-chair Quarles, and Ambassador Jon Huntsman hide their money in various shelters under fake firms/names. The new report says they hide their money in the Cayman Islands. Apple hides its money in the tiny island of Jersey. What can we do to avoid paying for these subsidies and business tax credits? You and I do NOT have to hide our money in a foreign country. We do NOT have to hire a lawyer to create fake firms and names. You and I have a legal tax shelter here with an IRS Sec. 408 Trust.
Avoid paying for their tax breaks with your legal tax shelter: https://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466

“Do I still need my life insurance”?
Recently, a 50 year old friend asked if he needed to continue his and his wife coverage. Right now there is a sale on term life insurance for any age—at age 50, you can buy $½ million for about $1 a day. Term life is for set period for set amount with no savings portion. It is pure death insurance for those you want to protect. My friend was given term insurance as part of his work benefits but his wife was doing free lance. At this stage of their retirement accounts, they were more than covered by their savings/investments so that if something happened tomorrow each would NOT NEED life insurance. Pure life insurance is to protect your loved ones BEFORE you have the assets to live on. If you need coverage because you don’t have $½ million to live one for the rest of your life, avoid any policy with savings portion. There are less expensive alternatives for a ‘cash value’ account. He decided to drop the policies. Term gets expensive after age 50 so if you need it, buy a 10-year term by age 50 from a discount carrier.


Why does Trump’s wealthy class want to get rid of the estate tax?
You and I are not going to pay this tax since it starts at about $11 million. Most wealthy farmers have figured out how to pay the tax if they are soil rich and cash poor. The reason we have this tax is so America doesn’t end up like the aristocrats in medieval Europe. Can you see Ivanka, Jr and Eric with even more wealth? Why is the GOP giving 5,500 wealthy people’s heirs a huge tax break? Are these 5,500 the big GOP donors? Yes, like Trump’s kids, they are already wealthy and don’t need the money. Trump saves his own estate $564 million in tax—enough to cover his FL and NJ golf trips for 4 years if he had to pay for them instead of us. We need the money worse than they do.

Is your advisor’s ‘model portfolio’ right for you?
With the proliferation of ‘model portfolio’ platforms, investment management is increasingly automated, ubiquitous, and not at all your financial advisor’s job. At least 74 percent of advisors use models: either models created in-house by the advisor themselves or by an in-house investment team, or outsourced to asset managers and strategists, according to Cerulli Associates. So your ‘personal’ specially-designed ‘choice’ of securities could be a robo-advisor churned out by a third party you don’t even know about. And for this, you are paying an extra fee. Over time, very few advisors, human or electronic can outperform the index simply because of costs. But you pay the fees for quick answers, timely contacts, and good advice. You understand that no portfolio can beat the index most of the time. But wait, most investors don’t need a full-service broker or advisor. They need someone to affirm their decisions or answer questions quickly. For instance, Vanguard Personal Advisor Services costs only 0.30% of your assets—about a third of the industry's cost of 0.99%--you keep more and get only what you need.


GOP repealed NONE of the 1,833 business subsidies but 32 of our deductions
Subsidies and loopholes and foreign cash reserves we still pay for in the new tax code were NOT repealed. 1,833 large companies have received federal grants and/or tax credits worth $17.8 Trillion. Are these the same firms that pay for our 534 Congress’s elections and kids’ college educations? 268 are already millionaires. Why is the GOP giving 5,500 wealthy people’s heirs a huge tax break? Are these 5,500 the big GOP donors? Yes, like Trump’s kids, they are already wealthy and don’t need the money. Trump saves his own estate $564 million in tax—enough to cover his FL and NJ golf trips for 4 years we now pay for. We need the money worse than they do. Each missile Trump fired on Syria’s airport to scare them costs us $1 million. The extra cost of just 3 new destroyers is $450 million. Total is $12 Billion and counting since they are still trying to make them work. Instead of giving our money to firms and people that are already making money, we could pay down the debt, which used to worry GOP.


ONE THIRD of us will have higher taxes in 10 years to cover this ‘tax cut’
The Tax Policy Center ran the numbers. By 2027, 31% of middle-class filers would see tax hikes. Repealing the Alt. Minimum Tax created by GOP so the rich pay something means the burden will shift to those making between $48,600 and $86,100. GOP has rigged the tax ‘reform’ to trick us into giving them HUGE extra money for their tax shelters. GOP budget has big cuts in funding for Medicare and Medicaid in our future. Hidden in the budget they just passed are cuts of $4 Trillion in spending including nearly $500 billion in cuts to Medicare and $1 trillion to Medicaid. This means that in a few years, you and I will need to pay more for a relatives’ nursing home and our own health care. Plus our taxes go back up. You and I need a tax shelter like the Trump class.    

Best first car for reliable transport
When your teen needs a car to get around, what are the best choices? Where do they look? How much should they spend? $5000 can put them in a safe Honda Civic or Toyota Celica. $6000 can buy a truck like the Toyota Tacoma. Quality and later models cost a little more but may be worth it. We can still find a baby Lexus IS300. Chevy Equinox leads the list of SUV capacity carriers. Teens pay less using your insurance. Shop to avoid high premiums: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

Wealthy have already got a way to beat the new tax law
Changes in the tax code will RAISE taxes for some middle-income families. Property tax and mortgage interest are no longer deductible, thus increasing their taxable income. However, as always the wealthy remain wealthy by avoiding taxes. They have found a “workaround for a tax-plan provision under consideration in Congress that would take away the mortgage-interest deduction.” They will turn their extra property into an investment property so that the expenses are deductible. The high property tax and interest will offset any income so they will pay no more in income taxes.

Where is the best place for your retirement money now?
If the tax cut bill does not pass this year, the market may drop. Where should your money be now so that you weather the fall and bounce back—gold, cash? Based on the experience of the decline in 2007-8, withdrawing retirement money from the market gave you a permanent loss. If you went to gold, you were up 47% but if you had left money in the market from 2007 to 2016 your money has doubled, earning 8.76% per annum. If you were out, you missed 27% and 32% jumps. That is the trouble with taking advice from ‘professionals’, they don’t know. Let it ride.

GOP favor insurers going back to “junk” insurance for us. Congress could negotiate lower drug and hospital costs but lobbyists won’t let them. Instead they fear losing their donors. Funny, they get to keep their full quality coverage. It’s ObamaCare.  

Self-dealing is OK with GOP
Trump's repeal of the Alternative Minimum Tax is the best part of his ‘reform’ because it once cost the president $31 million.  It accounted for most of the $38.5 million in taxes Trump paid that year. With the estate tax repealed, Trump's estate saves $564 million based on an estimated net worth of $3 billion. No wonder Ivanka is stumping for it. Billionaires don’t pay the top bracket of 39.6%. Billionaires like Trump who DO NOT live on their dividends and capital gains taxed @15% (avoiding Income tax) can use the new Trump business ‘pass-thru’ tax of 25%. Since Nixon’s Alternative Minimum Tax is to be repealed, this will be the tax of choice for many high income executives. Nixon, an old republican, thought that the rich should NOT avoid all taxes with deductions and tax credits. Wall-Street class’s will get a WindFall and NOT pay the 39.6% rate. Most of Trump’s class used to have to pay something because of the alt minimum tax. The AMT was one of few ways Trump had to pay $31 million in taxes one year. Many corporations don’t pay tax at all but they will continue to pay for our ‘reps’ to hide subsidies and loopholes that were NOT eliminated. Only 1 subsidy was repealed—small oil and gas wells. All the rest of the thousands of corporate ‘welfare’ payments or tax credits will be paid as usual. A Spanish firm got $2 billion of the $17.8 Trillion total. And guess who has money in the 1,833 ‘welfare’ recipients? Right, Congress’s donors.

Trump and GOP are promising higher wages from corporate tax cut
“The hourly wages of high-wage workers rose 41 percent in the 34-year period between 1979 and 2013; the hourly wages of middle-wage workers grew 6 percent in that time frame, and the wages of low-wage workers fell 5 percent” according to the Economic Policy Institute. We did NOT see a bump in wages when Bush II cut taxes. Why would a company use its added cash to pay us more when we have been taking less since the 70s? They don’t use their subsidies to pay more wages, why would they use cash? Wouldn’t you keep it in a shelter or pay your own executives and investors more if you were in charge? Since the firms have money why would they invest the cuts in new operations? They haven’t and won’t. Fed revenue from corporate taxes has fallen while our taxes for Social Security and Medicare have ballooned. Our taxes are low compared to the world.
NO Don, this is NOT a middle class tax cut: https://www.amazon.com/Only-little-people-pay-taxes/dp/1478222441


What made Fidelity investment accounts successful?
Fidelity found that account holders that did NOT 'manage' their accounts or died were the most successful. Think about that! 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 a fee to boot. It Just Takes Time shows us why ‘buy and hold’ stock funds win. Warren Buffett's teacher, Benjamin Graham, once said: “Buy stocks like you buy groceries not perfume.” Don't buy the stocks that the Wall Street media or your advisor tells you to buy. Buy those that are the most profitable firms worldwide. Just buy low-cost stock market index funds and keep buying. You don’t have to pick the right stock. And you don’t have to do a thing to get rich: It Just Takes Time.



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TrumpWorld
Trump’s money launderer manager indicted on 12 counts: conspiracy against US.
Trump’s RNC is paying for the legal costs—why?  Manafort has $18 mil from USSR


Trump campaign aide pleads guilty to lying to the FBI about Russia contacts


Trump is still just a mafia contractor from Queens—Dad taught him to be The Don.

Smoking gun: “Our boy can become president of the USA and we can engineer it,” Sater wrote in an email to lawyer Cohen. “I will get all of Putins team to buy in on this.” Manafort tells Russian mob he will keep them informed about “our boy.”
Jared deal with Evraz’s owner links to Russia steel pipe in KeystoneXL/Cheniere
Putin sent 60 money wires to US marked “to finance election campaign of 2016.”

Undisclosed $26 million loan from Russian to Trump campaign manager Paul Manafort.

Trump campaign asked Wiki to get Hillary emails from Putin hackers: smoking gun?

Putin using Twitter now with fake followers for Trump mob—how great impact?
Putin hired activists to stage demonstrations and promote divisive content. 


Ministry of Truth1984 novel: Government propaganda is ‘truth’ when they say it!
Trump Calls on the FBI to ‘Go After’ His Enemies (for Things That Aren’t Crimes)
“No Russia connection” but Jared and Ross in with Russian mob laundering biz
ObamaCare ‘collapsing’ but 600,000 more signed up in four days 2017: Mandate works!

Trump on tax: “The deal is so bad for rich people, I had to throw in the estate tax just to give them something.” But 80% of cuts go 1% and estate tax repeal only helps 5,500.
Wealthy do not create growth or wage hikes; money is sent to tax shelters/foreign corps.



My Theory on Trump/Putin ‘love’:
Trump got Russian help/funding for business from business/mob ties to Putin. US banks not interested in more bankruptcies. No one expected him to win so no harm getting Putin help. Don owes Vlad’s mob money so they sent mob gofer Manafort to run the campaign. ‘Colluding’ Putin style. Trump always has a fall guy to blame when caught in lie. Sessions claims campaign execs all too inept and overwhelmed to collude on purpose.


TrumpWorld – using presidency to make money the old fashioned way: theft


Tax reform saves the president $31 million.  It accounted for most of the $38.5 million in taxes Trump paid that year. With the estate tax repealed, Trump's estate saves $564 million based on an estimated net worth of $3 billion, as Bloomberg reported last year.

Trump hires only foreign workers  to save expenses despite “hire American” lecture


Dictator talk time:
“When the president does it, that means it is not illegal,” Richard Nixon




GOP lost moral way: 50 religionists say Moore is “defender of the sanctity of marriage.”


The Don is moving us to a dictatorship where the only people who go to jail are his enemies and non whites he does not like. Racists and nationalists get pardons. If Flynn Page and Manafort get indicted by Mueller, The Don will just give them a “get out of jail free” card so they don’t rat him out. He is also paying their lawyers to keep quiet.


Avoid the Russian/Trump propaganda—quit Fox, Facebook and Twitter now

The president can’t have a conflict of interest.” The Don is above the law?
Fires FBI head because he was investigating The Don’s Russia mob ties.

1998 the House of Representatives approves two articles of impeachment against President Bill Clinton, charging him with lying under oath to a federal grand jury and obstructing justice.

2017 Nov. House of Representatives introduced articles of impeachment against President Don Trump, charging him with firing FBI Comey, violations of the Emoluments Clause, actions "undermining" the judiciary and freedom of the press.
2018 the House of Representatives approves two articles of impeachment against President Don Trump, charging him with lying under oath and obstructing justice.




Quid pro quo: "something for something."
50 religionists claim Moore is “defender of the sanctity of marriage” and religious liberty.

Trump puts tax-dodging attorney at IRS to give election donors a break on audits.


Why should a 14 year old be shooting defenseless animals? Useful in her life? Fun?


We have given The Don time to act like president: Time to Impeach for obstructing FBI investigation of our enemy disrupting our election process.


Regulation is necessary: We need protection. Saves $12 billion of our money!
            (No one person can afford to sue a bank: class actions banned by GOP now.)

Navnoor Kang caught taking bribes to steer NY pension money to gifting brokers.
Tax dodgers need never worry: Trump gives IRS to Tax-Dodging Expert
Importing trophies from elephant hunts in Africa are now OK; killings continue.
AL won’t investigate pedophile Moore since he is their Senator of choice
Hank Mark Werner, NY caught plundering elderly and blind with annuity and trading.
Your air bag recalled: another round of bad bags from TaKata


Trump says he believes Putin did NOT help him win 2016: Proving ‘moron’ again!

How Govt wastes our money:
Trump puts tax-dodging attorney at IRS to let friends and family avoid taxes

SCAMS:
PYRAMID SCHEME LAWSUIT AGAINST JEUNESSE SEEKS $1 BILLION


Jobs:
$20 hr call center agent: answer calls to AAA, Home Depot from home

Who owns your account now?
No penalty CD paying 1.55% at online only bank https://bankoncit.com/no-penalty-cd-17


Miracle:
Women intimidated years ago have courage to come out now and take abuse all over again from their community, state.

IAN
41 Watchung Plaza, B242
MontclairNJ 07042
973.746.2014
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