Your Unbiased Advisor: December 2021

Friday, December 31, 2021

Teach you kids to triple their assets

Make the new year better

New year fresh start for your kids/grandkids

Make sure you teach your kids how to create wealth the easy way. My parents were not investors. At my first job, I had no clue which investment option to use for my 401k contribution and company match. The HR person told me to put it into the 'safe' stable value fund. That was the worst choice at my age I learned later when I got my securities licenses. If I had followed their advice I would have ended up with $150,000 instead of a Wealth Reserve of $877,233 about 33 years later. We have used this 'Wealth Reserve' as I call it to have funds to use low-cost high-deductible insurance, to buy two homes and 5 cars with higher down payments or cash, and now to receive $2,500 a monthly in a retirement supplement. Your kids use the Buffett investment strategy for any amateur. Buffett recently proved his method, though simple, beat the strategies of the best hedge funds. Start with only $1,000.

Start in 30 minutes: https://www.amazon.com/Give-your-child-leg-manage/dp/1096505355

Why our readers use low-cost efficient Vanguard funds

World's greatest investor's retirement advice: Retirement income for life from 2 Vanguard funds. Avoid “high-fee managers” Warren Buffett's personal will provides for his family by directing that his cash assets be invested in just two Vanguard funds: One will provide cash for the coming year and the other will provide a sound future. The best way to protect your family's future is to be invested in the stock market, Pure and simple. When you have stock assets, your money compounds at higher rates when your account fees are 0.01-0.05%, not the retail rates of 1.5-3%. You don't have to settle for retail products that are structured to provide your financial sales firm with higher revenues. The average investor earns just 3.79%, not the 10-12% market rates. (QAIB)

2021 Total Return Fund Long-term Return Longevity

29.0% 500 Index 11.2% since 1976

27.3% Energy 8.8% since 1984

12.9% Extended Market 10.7% since 1987

14.7% Health 15.8% since 1984

00.0% International Growth 11.4% since 1981

22.2% PRIMECAP 14.0% since 1984

17.8% Small Cap Index 10.6% since 1960

08.4% Wellesley Income 9.6% since 1970

28.0% Windsor 11.4% since 1958

29.2% Windsor II 11.2% since 1985

18.9% Average 11.5% *

*Average Annual Returns as of 12/31/21

Use the Buffett strategy: https://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592

Why automatic investing is so successful

If your investment plan is NOT on automatic, you may be missing the second best strategy. After the miracle of compounding, investing every month—buying more when prices are low and less when higher—usually beats market timing. Think of it: you don’t need to decide when or how much to invest. There is no rush to buy on the dip or guess when your stocks/funds are at their peak gains. You don’t have to fret that you may have missed the 10 best days of the stock market rise each year. Proof: Fidelity analyzed the most successful retirement accounts of all its clients. The most successful accounts were those that were NOT changed—no selling. The accounts that were forgotten or client died gained the most over time. Investing benefits from the miracle of compounding—dividends/interest reinvested—when there is no market-timing buy/sell trading. Auto-invest strategy takes our emotions out of the process. We don’t miss the best 10 days of gains since they are NOT predictable. We don’t sell at the wrong time.

Ride the wave: https://www.amazon.com/Best-Robo-Advisor-Ultimate-Automatic-Management/dp/1537111957

Is Bitcoin right for you?

If you own BTC you have had a wild ride this year. If you don’t you probably earned 27% in the real market. If you own BTC you know this is a speculative play and if you cashed out at $50,000 before it fell to $31,000, you are probably happy. If not you are sad. There are many professionals that feel this game is worse than the Ponzi scheme of Madoff. Why? Because there is nothing real here. And you can’t use it to buy anything except in El Salvador and Tesla auto. And many accounts have been hacked. You may be able to make money with your account but it is hard to guard the value. It may drop a lot on one day but you never know how much you will have from one day to the next. Yes, there are folks who have won the lottery in Bits but not everyone wins in Ponzi schemes. One unit is $50K or more so you can’t create a 401k this way. The tax situation is fluid too. The IRS has not figured out how to regulate this phantom yet.

Use a real tax-free account with real money: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

Why Mad Money Cramer recommends index funds

AARP interview: “If you’re going to buy a company’s stock, you have to know what they do. You have to know who their clients are. You have to know how they do when the economy’s doing well and when the economy’s doing badly. You have to read articles about the company. You have to read the [transcripts of] conference calls [in which companies discuss their financial results]. If you don’t have any time, you just own an index fund; you own good with the bad. It’s perfectly good for an individual to own an index fund. People are unwilling to do the work. I have friends who tell me, “These stocks seem OK, and so I’m just going to buy them.” And I’m, like, “No, please don’t do that. Please don’t do that.” The 500 Index fund only has the top grossing firms. They would not be in the 500 fund if they were ‘bad,’ as Cramer said. Over time, the average advisor account earned just 6.2% vs 500 index 10.7%. Picking a successful individual stock is a lot harder than Cramer implies. Every analyst picks bad stocks, even Cramer. Warren Buffett’s unbiased advice: buy an S&P 500 index fund.

Take their advice: https://www.amazon.com/Warren-Buffett-Your-Investment-Advisor/dp/1518690963

Wealth building hype can mislead you

Most articles you read about investing are written by journalists, not actual investors or folks who work in the financial field. Building wealth takes time, patience and commitment—all of which don’t sell books, magazines or TV shows. One article says you can start with $1 using an app. No. A low-cost investment account requires $1,000 to start. And $250 a month for about 30 years will create a nest egg of $700,000. It also promises that a “quality financial advisor could turn $500,000 into $3.4 million in 25 years.” No. The average advisor account earned just 6.2% vs 500 index 10.7%. A prominent financial analyst calculated that the average advisor fees will rob you of up to 63% of what you could have had using a low-cost stock market index. Pay more; earn less. The article promises to cut your car insurance by $700 if you use the author’s sponsor. No. All financial firms promise huge savings using one very unusual example. You may save by shopping 3 different carriers every 2 years but you will need to change your deductibles, drop coverages and benefits you don’t need. You may save $700 over 10 years or more. The article promotes a home warranty so you “don’t have to worry about fixing your home” heaters/appliances. No. These contracts don’t cover everything that goes wrong and cost more over time than you could accumulate in an account. The article also claims you can make “some money” watching videos and taking surveys online. No. Your payment for a survey is no more than $10. Use the time to learn how to build wealth from those who have actually done it like Warren Buffett and John Bogle.

Their strategies actually work: https://www.amazon.com/Buffett-Bogle-Holy-Bible-Investment/dp/1523693045

?**********ACCOUNTABILITY**************?

Like 1776, this period is a test of democracy—We rejected an "American fascist" once

The Path to Dictatorship: 2010-2030

Proud Boy: 'We took the Capitol’

Who paid for the Jan 6 Coup?

Most terrorists free … to try again

Trumpers purge the disloyal

Big money pays Big Lie

Defense mandate ignored

Terrorists blame gov spys

How Govt wastes our money:

FL makes new record cases 31,758: state health public policy to kill people is working

National guard spreading covid in some states: will military side with terrorists?

Biden hides Trump documents: Jan 6 coup-attempt terrorists applaud

SCAMS/SPINS:

GOP has changed voting laws in 17 states to make sure they don’t lose elections: Fix is in

Sue for Truth: GA poll workers sue One America News, Giuliani debunked fraud claims

Trumpers fire death threats at folks the Leader doesn’t like: no one left to oppose Leader

GOP abortion bans: few men rethink family planning choices

German pastors giving vaccinations for all to save lives

When will airlines make vaccination mandatory so all flyers protected? 850,000 dead

Anti-vaxxers need own hospitals so I can get my surgery: their ‘personal choice’ hurts mine

“Guns for protection” fails: gunman shoots, kills before victims have time to draw/shoot

Who leaves loaded gun around 3 year old: killed herself on Christmas

We are killing each other faster than ever

Airlines switch to cooking oil to cut jet emissions: funny smell in the air

Kia and Hyundai engine fires draw regulator probe: 2011-2014

Drug stores refuse blame for opioid deaths: makers went bankrupt; doctors fight suits

Medallion Financial caught inflating stock price: lender to taxicab medallion buyers

Jobs

Raises for senior staff: if inflation is 7% my salary increase must be 10+%

Unemployment comp raised for anti-vaxxers only in GOP states: buying votes strategy?

Can anyone live on $7.25? 20 states remain below poverty: $15/hr is goal in most

Who owns your account now?

Gov stops Tesla from letting drivers play video games while driving: See why need gov!

See why need mandate vaxx: Pediatric hospitals in states filling fast: Save our kids!

Gov pays for your funeral from Covid: vaccine costs less

Metromile to Lemonade: app to measure how much and how safe clients drive.

Our home prices surged 18% in October: Phoenix up 32.3%

Morgan converts mutual funds to ETF to compete for new money: stop share loss

Miracles:

TSAer jumps line: saves infant not breathing: Santa spirit is everywhere

Virus-shapes decorated deserts at Prague café: creativity fights plague

Covid pills for specific use: you gotta read the directions if your script is filled

Unmarried advisor to millions of couples offers marriage advice: “Please, Thanks, Sorry”

Best of 2021 events: Cheney & Kinzinger stood against the overthrow of our government

A 6th Grader Saves the Lives of Two People on the Same Day

Jan 1 ’22: Congress ban most unexpected charges from out-of-network providers: YES

Alaska sets December temperature record at 67°F: 67 Wow! Dec 26

Tahoe snowfall 202.1 inches breaking a 50-year record.

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

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts available at http://dankeppel.blogspot.com/

Friday, December 24, 2021

Are Series I savings bonds at 7.12% right for you?

Have a great holiday

Are Series I savings bonds at 7.12% right for you?

Rates change with CPI every 6 months so you may be disappointed next May. However, this is a good way to ride the inflation wave if you believe inflation will be with us forever. You must use www.treasurydirect.gov to make an account and buy and sell ‘I’ bonds. If the proceeds are cashed in and then used to pay for qualified higher education expenses of the owner or a dependent in the calendar year of redemption, the applicable interest is tax-free. For now, this is a better deal than the bank CD offerings. There are some other rules so be sure to read the fine print at https://www.treasurydirect.gov/.

Another way we taxpayers make up for wealthy tax avoidance

Wyoming is another place for them to place their assets and never pay tax on the income. A Wyoming trust and layers of private companies with concealed ownership allow the world’s wealthy to move and spend money in extraordinary secrecy, protected by some of the strongest privacy laws in the country and, in some cases, without even the cursory oversight performed by regulators in other states. One analyst said, “Very few people know what you’re doing, basically.” In Wyoming, with the support of state lawmakers, the industry charged ahead, promoting a suite of financial arrangements to potential customers around the world. A former GOP member named Bunky said, “It’s friendly for business is the bottom line.” "We don't pay taxes. Only the little people pay taxes."

American Socialism: https://www.amazon.com/Americas-Socialism-Rich-little-people-pay/dp/1535218584/

More funds cut fees for more profits

Investors finally realize John Bogle was right: pay less and earn more: Fund Managers Slash Expense Ratios Before Year-End. Vanguard said its changes would save investors an estimated $18.9 million: save more earn more. Vanguard is owned by its investors not private firm. Schwab cut fees and added $37.8 billion in new assets to its ETFs over the first 11 months of 2021. Higher volume; higher profits. Taking the Costco strategy works for securities too. Since almost every stock picker and hedge fund operator can’t beat the market averages over time, investors realize that paying more for less is a waste of money. Paying for marketing hype does not help them. Vanguard has become the center of self-directed investing. Bogle eliminated the middleman because they were not needed. Amazon, Home Depot did the same. If you followed Warren Buffett’s advice and bet on the Vanguard 500 Fund, you have earned about 30% again this year. You paid only 0.04% to own America’s top providers. Like Buffett, you have beat the professionals. Since 2013, your portfolio is averaging over 15% per annum. There is no reason to make it complicated and expensive.

Pay less; earn more: https://www.amazon.com/Best-Robo-Advisor-Ultimate-Automatic-Management/dp/1537111957

Is claiming Social Security benefits now right for you?

Before you apply for your benefits, check on your account. Yes, you need to make an account first. See if the SSA has all your earnings listed. If there is an error, you may receive less than you deserve. You need at least 40 work credits to qualify for benefits. Working longer at higher wages, even after attaining your full retirement age, means you can increase your benefits. SSA recalculates your benefits each year and uses the highest incomes you earned. If you start benefits early, your lesser amount is locked in. For your exact full retirement age, see the “Age to Receive Full Social Security Benefits” chart. Waiting to claim the maximum benefits means a lifetime of the highest amount per month—for 30-40 years. But you may need to start benefits early due to loss of work, illness, lifestyle change and personal choice. Instead, you may qualify for Social Security benefits under your spouse’s work record even if you are divorced. Your may qualify for survivor’s benefit. Another planning issue is tax on your SS benefits. Some readers must pay tax on 85% of their benefits. Another issue: In the years before you reach full retirement age, your Social Security benefit is reduced by $1 for every $2 you earn over the annual limit. Another issue: benefits can never cover all your expenses. You must obtain an estimate of monthly income before you retire at https://www.ssa.gov/benefits/retirement. Plan ahead.

Maximize retirement income: https://www.amazon.com/Maximize-Social-Security-Benefits-Retirement/dp/1495439224

How much can you spend each month in retirement?

You know how much you will receive from Social Security, from a fixed pension, from a IRA via the IRS RMD table and a fixed annuity if you have one. What is your estimate? If you own rental real estate, equities and bonds in a cash account, bank and Treasury interest, you need to rely on projections. What are needed: sources that can be easily tapped to make up any unexpected expenses? Here are some readers’ suggestions. Home equity line of credit, Roth IRA assets, Savings bonds, collectibles and hard assets like land and gold coins. If you are lucky to have a family trust or legacy like Warren Buffett has set up for his family, your trustee can provide extra protection. Buffett has established in his will that most of his cash assets will generate gains via a low-cost Vanguard 500 Index Fund and a couple of years of income in a low-cost government bond fund.

Plan for no surprises: https://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592

How the rich beat inflation?

Very few assets grow high returns that can be guaranteed. Long-term stock market returns average 11% so they are the classic inflation hedge. I bonds were established to deal with some inflation, but don’t always over turn rising prices. Usually the rich include folks who are careful with their money—that is how they stay rich. Some are very good at economizing and dropping expenses they realize they can cut. Most rich people maximize legal tax deferral/free investment accounts. They may shop diligently for the best price on all big buys. Some look for alternatives: paying for a streaming service instead of the rising cable bill. I have found that most people are wasting at least $3,000 a year on insurance and financial fees. They simply did not cancel coverage and products they no longer use. Most wealthy people use many strategies to control what they spend, including higher prices for everything. In short, they are careful about money. Investing $3,000 a year can produce a $1-2 million nest egg which can easily conquer inflation.

https://www.amazon.com/New-American-Retirement-System-WealthReserve/dp/1461030072

Why your advisor/broker cannot beat the index

How many advisors picked the right money manager or fund manager to beat the simple market index 27%? You can count them on one hand and they may have just been lucky. When you play Powerball, someone may win but usually not you. We call this gambling. In financial services, they call it ‘sophisticated algorithms’ or ‘smart analyses.’ The firm/ manager is paid for a lucky bet. But remember the Oakland A’s story in the movie Moneyball. The success could only be achieved by thinking differently, re-inventing a player’s worth and focusing on value. Ultimately, it relied on facts and fundamentals and disregarded the unknowable future. Despite its reference to money management, such an approach has largely been ignored by traditional asset managers who continue to look for an “edge.” Overly confident in their ability to pick winners, these managers promote themselves as if they have some predictive ability and knowledge of the future. No one has that. They have greed. This outdated approach fuels a portfolio pricing risk that can significantly erode your returns over time. Best: avoid high costs; avoid losers. Like the A’s, we should focus on the numbers—the known information—to avoid strikeouts in the market. A walk equals a hit. It is time and compounding of returns that make us rich.

https://www.amazon.com/Money-Ball-Investing-Winning-unfair/dp/1548831409

Great gift idea: tax-free ‘Wealth Reserve’ for their future

Help you child or grandchild get off to a great start in life: open a tax-FREE account for a secure future. You can open an account with them for $1000 and as they make contributions from earnings and holiday gifts, you can show them how their money compounds at over 11% a year. There are no broker fees, charges, or commissions so every $1 works for their future benefit. They never have to pay Uncle Sam either. This is a legal IRS tax shelter. It is the ultimate wealth management system for their whole life. A ‘Wealth Reserve’ is the New American Retirement System: all earnings are tax FREE.

Get them started right: https://www.amazon.com/Give-your-child-leg-manage/dp/1096505355

?**********ACCOUNTABILITY**************?

Like 1776, this period is a test of democracy—We rejected an "American fascist" once

The Path to Dictatorship: 2010-2030

Trust and democracy die together

Trump in contempt of Congress?

Terrorist in coup-attempt gets 5 years

Terrorists had concealed weapons

Military with Biden or Trump?

Generals with Trump?

“How Civil Wars Start”

More Dems give up

How Govt wastes our money:

"flawed intelligence, faulty targeting .... deaths of thousands of civilians, many children."

Coal takes solar/wind subsidies: Manchin kills Biden future: NO help for WV kids

Rich clap for Manchin: vote against Biden means avoid $ billions tax hikes: Grandkids pay it

Defense Dept tells soldiers NOT to try to overthrow our government

Trump border fence pollution paid by us taxpayers

General Flynn sues Congress to hide his phone calls to terrorists

$100 billion to Covid fraud: unemployment fakes & private plane operators GOP donors

Armed vigilantes now take charge of immigrants on border: expect accidents

Trump sues New York attorney general: delay is the way: in ’24 he can fire her

SCAMS/SPINS:

Supremes volunteer to adopt more children: Amy takes 900,000 unwanted kids?

Supremes decide public health mandate or political personal choice: plague on or off

819,000 dead: anti-vaxxers fill hospitals: die at hospital or at home?

SCAM: Trump, famous anti-vaxxer claims had booster; told WSJ “probably not for him”

Trump’s new bailout venture funded by Chinese speculators watched by regulators

Merrill caught allowing 2 reps stole more than $6 million from 13 clients: fine, no jail

John Marques CA caught taking $824,000 fees from selling unregistered securities

Financial firms caught failure to monitor sales of tax-free 529 education plans

NatWest bank caught scheme to manipulate U.S. Treasury debt markets: fine, no jail.

LendUp Loans caught illegal/deceptive marketing: violation of 2016 order.

Access Funding caught steering folks to own advisor for structured settlement fees

Aspen Dental caught offering free emergency consultation: billed later

SCAM: TSA PreCheck membership: fake address?

RECALL: P&G recalls 30 sprays with benzene, a cancer killer: 1-888-674-36319

Fox News calls for Fauci to be ‘ambushed’ and ‘killed’ young impulsive kids hear

HeartWare heart pump: FDA knew bad and let the maker hide: we pay for mistakes

Tesla’s $10,000 test self-drive software has not been vetted: don’t be crash dummy.

Tesla offers games to play on car’s screen while driving: avoid Tesla at crosswalks

Fox: “This is what we’ve bred as a society” Re: anti-vax wide receiver can’t play game

Celebrities sell products that fail: celebs already sold souls for money: 1 more OK

New addiction crisis: online gambling habit requires cure

Business interruption insurance does not cover pandemic closings

Boy scout sex abusers free after insurance pays for victims pain: troop leaders no jail

Jobs

Jobs went west and south: Austin has 5.5% increase

Work from home pays more for some jobs

Rite Aid CVS closing hundreds of stores: buying online?

Who owns your account now?

Mitsubishi, Acura, Jeep, VW prices up more than 20%: new and used: few incentives

Used cars cost more than new: no chips make used dip in price impossible

Your 5G cell service may bring down planes: Boeing Airbus warn us if near airport

Miracles:

“God pardons sin through Christ, Trump pardoning Alice Johnson in the Oval Office.”

70-million-year-old baby dinosaur curled up perfectly inside its egg:

Pfizer drug that Americans to take at home to head off the worst effects of the virus.

Cat survives KY tornados: 9 days under rubble in hole: build a hole for next time

Will Covid ever end? Virus control has been past result.

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

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts available at http://dankeppel.blogspot.com/

Friday, December 17, 2021

Best securities mix for retirement income

Child Tax Credit account info

In January, the IRS plans to send us a statement (6419) of the amounts we received in 2021 for this monthly advanced CTC payment. We must reconcile the amount we received to the amount we were due to receive based on our income. Some have received $1,800--$300 a month for 6 months in 2021 via direct deposit. Most tax prep software will do the calculation for us based on the amount we enter. IRS warns that if we enter $0 (don’t remember exactly how much we received), our refund will be delayed for months. The advance was calculated on previous year adjusted gross income—AGI—from our 2020 or 2019 tax return. As a result of any family and life changes, you may receive a total amount of advance Child Tax Credit payments that exceeds the amount of Child Tax Credit that you properly are allowed on your 2021 tax return. You may owe the IRS the excess payments. This will cause a refund to be reduced or conversely, a tax due.

AARP is again providing FREE tax prep locally starting in February: https://www.aarp.org/money/taxes/info-2018/aarp-tax-help-fd.html

We pay Congress to help the wealthy use hobbies to avoid taxes

The hobbies and side businesses of the ultra wealthy create huge write-offs that can let them get away with paying little or no income tax for as much as a decade at a time. America tax system lets the rich deduct the money they lose by indulging in expensive hobbies. Six of the 20 thoroughbreds running in the Derby were owned by Americans whose horse-racing operations have produced $600 million in losses that they use to offset their income, according to ProPublica’s analysis of IRS data. The wealthy use their hobbies to reduce their taxes. The wealthy pursue happiness with their toys; they do it with a subsidy from our taxes. Their hobby is subsidized by us taxpayers. Some of the wealthiest amass deductions to such an extent that they can avoid income taxes for years on end. Many of these tax avoiders are titans in commercial real estate or oil and gas, industries on which the tax laws bestow unusually lucrative advantages. Ty Warner, creator of the Beanie Baby toy, lost so much money on his side business — luxury hotels and resorts — that he went 12 years without paying a dollar in federal income taxes. Dr. Patrick Soon-Shiong, who built his $7.1 billion fortune by selling two drug companies, oversees an array of businesses that have produced tax losses, including the Los Angeles Times, which he bought in 2018. He hasn’t paid federal income tax in five consecutive recent years. Does your Congressperson let you avoid taxes with your hobbies?

American Socialism: https://www.amazon.com/Americas-Socialism-Rich-little-people-pay/dp/1535218584/

Best securities mix for retirement income

Retirement income needs can last 30 years. The former generation formulas were not designed to last that long. With inflation increasing and health care costs jumping up at two times the rate of inflation, you need to maintain accumulation as well as taking income from your nest egg. If your pension and annuity have fixed benefits, your monthly income will be cut down in a few years. Stocks are the only security that can outpace inflation. Stock market returns are not guaranteed year to year but over time are better bets than a fixed rate return. Over the last 3, 5, 10-year period, the market has returned over 15%. Your money quadrupled during that time. See how much you can spend each year with financial planning software: https://retirementplans.vanguard.com /VGApp/pe/pubeducation/calculators/RetirementNestEggCalc.jsf. One of the greatest investors of all time, Warren Buffett, has recommended putting most of your retirement dollars in the completely diversified low-cost 500 Index from Vanguard and moving your excess market returns (11% is the average) into a money market fund each year. Don’t give away 2% a year to a manager. Some of my readers use the low-cost Vanguard Wellesley Income Fund which has provided returns of over 9% a year since 1970. This week our gov stops giving our taxes to private biz to slow the market: Time to act.

https://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592

Great gift idea: tax-free ‘Wealth Reserve’

Get them started right: https://www.amazon.com/Give-your-child-leg-manage/dp/1096505355

Congress creates Zero Tax zone in Puerto Rico

In Puerto Rico, they pay nothing. Many with crypto wealth are taking a page out of hedge funds’ books and seeking residence on the island to reap huge tax savings. “Crypto Mondays” gatherings at hotels and restaurants across San Juan is a common occurrence. Facebook’s Frances Haugen told the NY Times she's living in Puerto Rico in part to be with her “crypto friends.” New York City’s mayor-elect, Eric Adams, even flew there in November with crypto-billionaire Brock Pierce for dinner with Puerto Rico’s Governor Pedro Pierluisi. A 2012 law to spur development exempts new residents from paying taxes on capital gains. Since old residents do not benefit, some feel the tax exemption may just exacerbate the bankruptcy situation of the island. Applications for residency are up as Dems look for ways to capture tax revenue lost in new tax avoidance schemes.

Use your Zero Tax Account: https://www.amazon.com/Your-ZERO-Tax-Account-Wealthy/dp/1482772795

?**********ACCOUNTABILITY**************?

Like 1776, this period is a test of democracy—We rejected an "American fascist" once

The Path to Dictatorship: 2010-2030

More Trump advisors ignore Congress law

National Guard! backing up Trump terrorists

Trump declines to stop coup terrorists attack

Corporate America funds the next attempted coup

Bannon: 'We Reign for 100 Years'

How Govt wastes our money:

Manchin’s coal empire driving Congress block help for families: saved his subsidies$

Trump’s coup planned to use emergency powers: armed National Guard takes over gov