Friday, September 2, 2016

Apple gets tax bill from Europe NOT US

Apple gets bill for back taxes from Europe not US
European Commission ruled against Ireland's tax dealings with Apple and Dublin will recoup back taxes. Apple and other corporations have been playing the “move legal address” game to avoid taxes in the US and other countries. The EU demanded $14.5 billion and said that a special scheme to route profits through Ireland was illegal state aid. "Ireland granted illegal tax benefits to Apple, which enabled it to pay substantially less tax than other businesses over many years," EU said. As of June, Apple reported it had left $214.9 billion in foreign subsidiaries so it pays only 10% to US. Many like Amazon, McDonalds and others hold cash oversees to avoid taxes which we must make up for. IRS dead. Thanks to budget cutsaudit rates have plummeted, especially for the biggest corporations, with armies of savvy tax accountants. Criminal tax prosecutions have nose-dived, too. No one fears tax man except working people. “Only little people pay taxes.”


Is investing a fixed dollar amount each month right for you?
You can buy 100 or 1000 shares when your broker calls or you can set up an automatic fixed amount to invest every month. Which is better for you (not your broker) over time? If you are on salary, you need to fix your monthly expenses so you don’t overdraft when you spend. This chart from BlackRock shows you how to pay the least amount for a security or mutual fund share over time. Clearly you end up with more shares in a volatile market when you use “dollar cost averaging.” BlackRock also shows you why market timing is a Wall Street myth: you miss 5 days—you lose. Tell your broker to take a hike.
Think of all the commissions and fees you will NOT pay. Give yourself a bonus:

Are you considering Target Date Funds?
When you decide to invest, the easiest decision is to buy Target Date funds from a large discount seller like Schwab or Vanguard. But which one? There are many choices of mutual funds so it is hard. This analysis by Mr Ping makes it easier. http://www.mymoneyblog.com/schwab-target-date-index-funds-review.html
He has laid out the options and costs. You pick a retirement date closest to your retirement target and you put all your contributions on automatic. You are done. There is no worry: No market-timing, rotation, or tax loss harvesting. It is all done for you.

Are Vanguard’s low-cost investments right for you?
Vanguard has saved investors $1 Trillion in fees and charges according to Bloomberg. That includes forcing the industry to reduce costs for all kinds of investments. Vanguard’s structure has made it possible to offer the Best for Less. The investors own Vanguard—there is no for-profit management company to pay. For instance, the head of Fidelity, Abigail Johnson takes home $ millions every year no matter how much she makes for you. She is now #16 on Forbes list with $15 billions. Her daddy "Ned" Johnson III did not do badly either from your fees. And her grandfather before either. Since cost is the best predictor of success in investing (not manager longevity), you may find their offers of index and managed funds, ETFs, and Target Date funds best overall. Plus, there are no commissions: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

Did your loved one leave you a life insurance benefit?
Like most people, you probably don’t know if there was one or not. It may be worth your time to find out. Even if it is 5 years old, you may still be able to claim the benefits. You need to find any records like check register or checks to an insurer or just their name and DOB and state. Use the Insurance Commissioners site to learn how to find it. http://www.naic.org/documents/consumer_alert_locate_lost_life_insurance_benefit.htm
The Commissioners are trying to make it easier, especially given the scandal 60 minutes created when they told us that insurers were pocketing many benefits themselves.
In case you want to know if you still need one: https://www.amazon.com/Life-Insurance-Need-Save-right/dp/1480002178


Vanguard reports the average retirement account toped $100,000
The average workplace retirement plan balance topped $100,000, having nearly doubled from 2008. However, because this includes some really fat accounts that push the average up, the more likely situation, the median balance, is just $31,396. This situation is also a result of the stage of the Vanguard participants. If most are just starting careers, the median reflects this. Many savers will have time to improve their situation if they use low-cost stock funds at Vanguard. Studies have shown that allowing their balance to compound without trading can double it every 7-9 years. Earning 11% in an index fund not 3.79% in a managed account can create a comfortable retirement egg and income.

Kelly Blue Book picks best SUV under $25,000.
Full List is below. Remember, the 3-year-old version may be a better buy since they have usually worked out the recalls/wrinkles and 40% off discount with mileage under 50K. I just got a loaded 2013 Subaru Outback for under $21,000 (w/ tax title docs) with 54K miles and one owner. It has 100K-7 year warranty too.
  1. 2016 Honda CR-V
  2. 2016 Mazda CX-5
  3. 2016 Hyundai Tucson
  4. 2016 Kia Sorento
  5. 2016 Subaru Forester
  6. 2016 Honda HR-V
  7. 2016 Toyota RAV4
  8. 2016 Nissan Rogue
  9. 2016 Jeep Renegade
  10. 2016 Jeep Wrangler
Don’t forget to add the cost of insuring a NEW car: https://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634


What will you do when Social Security runs out in 2034—17 years from now!
The Trustees project that the combined trust funds will be depleted in 2034, and we can’t count on GOP Congress to fix it. Many seniors will need to go back to work or ask their GOP-run state reps for a hand out. GOP does not like tax increases even to fight diseases like Zika—(they went on vacation). High income people do not pay SS taxes on pay over $118,500. Some intellectuals want to raise the retirement age to 76 so fewer collect. They advocate high-cost annuities to replace SS spousal benefits. So how can we prepare? We can save and invest for a rainy day, tax-FREE, like the rest of mankind. If you are near retirement, maybe you should reconsider. If you are going to take it SS now, check your options first.

Supremes ready to exclude black voters in NC—a racist court?
Because Roberts, Kennedy, Thomas and Alito were willing to overturn NC court’s voiding of voter suppression measures to exclude blacks from voting, Scalia is being missed by GOP leaders today. Scalia would have sealed black voter suppression in NC and perhaps other states. Supremes would overturn a unanimous panel of the 4th Circuit on July 29 who agreed with allegations from the Justice Department and civil rights groups that North Carolina’s bill selectively chose voter-ID requirements, reduced the number of early-voting days and changed registration procedures in ways meant to harm blacks." The Richmond U.S. Court of Appeals found the NC law unconstitutional. “Upon receipt of the race data, the General Assembly enacted legislation that restricted voting and registration in five different ways, all of which disproportionately affected African Americans.” NC changed vote law after the Supremes decided a Voting Rights Act void.
The Supremes (with Scalia) would have found discrimination constitutional.

Don’s Apology?: “Sometimes in the heat of debate, and speaking on a multitude of issues,   you don't choose the right words or you say the wrong thing. I have done that." 
Hill’s Apology?: “I just followed advice of Colin and other Sec. State before me.”

Don:    Citibank says if I win it will “cause global recession”—we need bank shakeup!
            My doctor wrote exactly what I needed him to write—I will be greatest prez ever
            I asked the Hannity mob whether “criminal” immigrants get deported. What?
            I told you it’s fixed: foreign hackers have broken into two state election databases
            That 1973 discrimination suit was a long time ago and I admit nothing in consent!
            Joe Scarborough gets no interviews since using this tweet: #AmnestyDon
            I met with Mexico to get the Wall started—they pay so they build on their side?
            Mexican pres has compared Trump's "strident rhetoric" to Hitler and Mussolini's.


            I don’t want to be president, just “listen to my meaning.” I just used $55,000 in campaign donations to buy copies of my book at full retail price. Boost my book ratings.

            Yes, Don’s plan means even a Texas high school valedictorian would be deported
           
Hill:    Don is moving toward “path to citizenship” no wall, no deportation, no plan.
            I only used a few tax dollars to pay for my server and foundation—no big deal!
            Don hired attack dog Bossie to come after me again—more mud slinging!

Tim:    Don has 120 foreign deals going—how can he deal China if he owes them?
            Don may be house rich, cash poor: we don’t know his real creditors/obligations.


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!

Investment firms caught making false claims on AlphaSector ETF—Never beat Index
TX judge: 3 professors can NOT ban guns from their classes--but more guns=more death
GM switched to Takata air bags to save money and killed 14 knowing less stable inflator
Both United pilots drunk caught after crew alerted police before takeoff—Scots law too!
Caldwell International Securities TX caught letting brokers churn customer accounts
Texas’ attorney general has sued a TX county that tried to ban guns from its courthouse. 
SC killed millions of honey bees as part of a spraying program to kill Zika: who’s boss?

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

Police want gun control.
When everyone has guns; your chance of being killed goes up. Police don’t know who to shoot if you and robber has gun. They Shot a psych worker with his hands up while on ground. Police shot black homeowner who reported car stolen in front of house. No “shout out” “police” since homeowner has gun. They shoot first if black or deaf. Deaf man was fatally shot when he tried to explain in sign. An Oklahoma mom was arrested after she shot a man she found in her 16-year-old daughter`s bedroom. OK Police pepper spray NOT shoot 84 year old mom who didn’t move fast enough in HER home. 11-year old shoots another 11-year old playing at home with adults’ gun. Smart guns can only be used by owner but banned in states by NRA. Guns kill people.

SCAMS
GM knew Takata air bags were dangerous and still killed 14, injured 100s—GM liable?
Takata airbag parts exploded on a Texas road killing 1 person nearby—powerful airbags!
Koch pushing GOP to stop govt from staying open: another costly govt shut down 9/30?
Cinema where 12 were shot claims survivors owe $700,000 because they sued Cinema?


Ignoramus Award: Weiner with his son! in bed sending Xpictures public—needs cure?

How our government wastes our money
$400 billion F-35 fighter jet is the future it’s official testers have many concerns.
$36 B: “it was clearly premature to include so many unproven technologies" on carrier.
$18.3 million stolen by Patent office workers: covered by management and no jail time!
SC killed millions of honey bees as part of a spraying program to kill Zika: who decided?

Where have all the jobs gone?
1,100 $16.10 jobs KY making electric motors to $1.75 Mexico—Trump restores job?
Walmart automates: 7,000 back-office jobs in accounting and invoicing positions to sales

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