Friday, October 14, 2016

Another billionaire tells us how to pay NO taxes

Another billionaire explains how to avoid paying taxes
Oil and natural gas billionaire T. Boone Pickens said Tuesday that he hasn't paid federal taxes in the past three years, as he's used a tax loophole similar to one believed used by Donald Trump. "Only a fool gives the government money it doesn't have to," said billionaire Leon Cooperman, who made his billions through Goldman Sachs. Last week, the SEC charged Cooperman with insider trading, saying the investor and hedge fund manager had used non-public information from a corporate executive about an energy deal in 2010. Our “reps” in Congress are giving billionaires these tax loopholes so they can use their bad business deals to deduct money they didn’t even put into the deals. Most of us can’t afford lawyers to create dummy business losses like billionaire business people do. Now they say they resent being vilified for taking tax breaks on their bad business decisions. They think they are heroes for making donations (Trump does not actually give his own money. He uses Ebers’ money.)
Don’t be a "fool"—pay ZERO tax on your gains: https://www.amazon.com/Tax-Shelter-Young-Americans/dp/1500426520


Use your Tax Credits to avoid income taxes like Trump
Most of us receive only 4% of federal tax breaks like food stamps and Earned Income Credit if you are poor or the property tax and mortgage credit if you are middle class.
The Tax-Credit class pays less income tax with capital gains and dividends because it is “unearned.” So if you actually work; you are taxed MORE. For instance, Warren Buffett pays 17% on earnings while we pay 33% total tax. The tax-credit class pays NOTHING on assets they got from a “rich uncle” and on their home when they sell. Most of us don’t “itemize” so we lose all kinds of tax credits. The Tax-Credit class takes off medical expenses, job hunting expenses, and work expenses not reimbursed by others, deferred compensation (bonus and stock portfolio worth more later), investment costs, investment losses, stuff they lose, stuff they own. They can eliminate income tax by listing losses from buildings, race horses, farms, oil, leasing and businesses they own as partners, LLCs, C and S corps. Trump actually deducted $916 million but most of it was other people’s money. Some bank debt was cancelled which normally is taxable but not after RE lobbyists got Congress to change rules in 1993. Trump is tax-FREE for 18 years.

We could easily pay for all Social Security benefits and Medicare coverage for all
Our reps decide to give The Tax-Credit Class special breaks we can’t use. By eliminating these entitlement programs for the 1 percent and multinational corporations America could afford SS benefits and health insurance for all. Here are 10 Congressional programs that create Socialism for the Rich and the amount we pay in taxes for them:
1. TAX BREAKS FOR OBSCENE CEO BONUSES ($7 BILLION/YEAR) They still get $ millions salary.
2. TAX CUTS FOR LUXURY CORPORATE JETS ($300 MILLION/YEAR) We pay for their rides.
3. BIG OIL SUBSIDIES ($37.5 BILLION/YEAR) We no longer import oil or need to find more oil here.
4. PHARMACEUTICAL SUBSIDIES ($270 BILLION/YEAR) GOP Bush II gave them price guarantee!
5. CAPITAL GAINS TAX BREAKS ($51 BILLION/YEAR) Rich pay 17%: we pay 33% total taxes.
6. CORPORATE TAX SUBSIDIES FROM STATE/LOCAL GOVERNMENTS ($80.4 BILLION/YEAR)
7. HANDOUTS TO BIG AG ($18 BILLION/YEAR) Family farmers were bought out long ago; now wind.
8. WELFARE FOR WALL STREET ($83 BILLION/YEAR) Fed guarantee interest rate makes big bigger.
9. EXPORT-IMPORT BANK SUBSIDIES ($112 BILLION) Boeing GE guaranteed profit on sales.
10. FEDERAL CONTRACTS FOR THE TOP 200 COMPANIES ($880 BILLION/YEAR) No risk biz.
Congress has made the tax laws that create America’s Socialism for the Rich. Congress people who want to cut SS benefits and Medicare are playing politics. America could afford to provide what we were promised but we don’t have lobbyists for a payoff.


Is a reverse mortgage right for you?
Financial sales people provide many positive details about this mortgage—a debt that you don’t pay back until you die—but it is a costly transaction all the same. Some observers say: A lot of clients still resist the idea of a debt. You lose the feeling of independence. A borrower answers to a bank system. Using a reverse mortgage to keep your investment portfolio may help you but as debt it must be managed. Your advisor is not doing you a favor if they don’t explain the debt load for years and the real costs. Remember, if you already paid off a mortgage of $250,000 over 30 years, you gave up a total of $539,595.47 plus the total set up cost of $5-10,000. Since mortgage interest is deductible, a HELOC may help now. It is cheaper and you are still in control.
Consider all your options for retirement income: https://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016

GOP will discard ballots with simple errors to support The Don
OH GOP officials are going to destroy ballots with no ZIP code or writing not in BLOCK lettering and other simple errors. An appeal was denied by a judge who is married to the GOP House Speaker William G. Batchelder. The period in which voters are allowed to fix the form was cut from 10 to 7 days, and elections workers were even barred from helping voters with the forms. Anything to suppress the Dem vote. Even Ryan’s home county considering Hill. NH GOP Sen. Kelly Ayotte says she is dropping her support for The Don. Carly Fiorina, Mike Crapo of Idaho, Sen. Mike Lee of Utah, Rep. Barbara Comstock, Martha Roby of Alabama say Donald Trump should step aside. Many states do not allow write-in candidates for president. Some GOP will go down with the ship. Others are burning up $45.8 million so far. Supremes decided to allow wealthy to decide vote. Only $7.1 million spent by the candidates themselves. OpenSecrets.org. In Nevada, labor unions and George Soros are up against Sheldon Adelson and gambling $.

Is investment portfolio “rebalancing” a smart strategy?
Wall Street advisors recommend this periodic selling and buying to keep your risk/reward balance of stocks and bonds where you want it to be during your accumulation period. However, tests over a long time period show that it may reduce your total accumulations. It may reduce your accumulation because you must pay for transactions and because you may miss a stock market’s boom. Rebalancing tends to reduce your portfolio’s volatility (a standard deviation of 14.4% with none versus 12% for the annually rebalanced portfolio). However if you have 15 or more years before retirement, your reward for a Buffett buy and hold strategy is 9% vs 8.5%. Over time, this means $613,805.95 vs $546,116.39 from 250 a month for 33 years of accumulations. If you use the dollar cost average strategy, you are already reducing volatility by buying fewer shares when they cost more and more when less. In retirement you will shift to lower risk and returns anyway to protect your gains.


Best 2016 Sedans under $25,000
Kia tops Accord and Camry on this list of 2016. Camry consistently holds its value after 3 years over many studies. Most will make it to 100,000 miles but are not the best deals for your money. JD Power dependability study asks owners after 3 years. Malibu and Sonata top rated. 

GOP religion excludes immigrants from marriage too
LA GOP religionists have effectively made it illegal for thousands of refugees to get married. Any foreign-born person wanting to get married in Louisiana must produce both an unexpired visa (even though a federal court has ruled that marriage licenses cannot be denied based on immigration status), as well as, somewhat inexplicably, a birth certificate. Many immigrants can’t produce birth certificates since none were ever issued where they were born. Indeed, many people born in LA have no certificate since they were born at home. Louisiana ‘Family’ Forum, which sponsored the law, claimed to be a voice for “traditional families” — a category that, in 2016, apparently no longer includes immigrants. Yet ‘traditional’ families married with no cert for thousands of years. America was built on toleration not exclusion. Let’s be tolerant of others.
GOP religionists fail Christian tenant: “I was a stranger, and you took me in” Matt 25:35

Is credit monitoring service $110 right for you?
The internet has made everyone concerned about ID theft and worse—scams that rob you of your sense of security. Many firms like LifeLock are profiting from these fears. Many firms charge over $110 a year to claim they protect you. Actually no firm can protect you (stop a thief from stealing your ID or bank account). Professionals with the help of their governments do crimes all day so if they can break into the government files they can easily take yours if they want it. Notification is key to limiting damage. CreditKarma.com and CreditSesame.com will watch one credit file for irregularities for FREE. You can  check your other files at https://www.annualcreditreport.com/requestReport/landingPage.action
Also go through every credit and bank statement you receive. We recently found bogus bank charges for Uber service we never used. Our bank reversed and gave new card.



Which liar will win American’s vote?
Neither can re-create jobs of the good old days!  I don’t see either one as President.
Do-Nothing Congress decides US future by doing nothing for more 4 years.
                                               
            I have not [grabbed P*y].” “His hands were everywhere.” 1 woman says. Now 5.
            “Certainly has been an interesting 24 hours!” Ryan, McConnell still OK with it
            “Lecherous and worthless” James MacDonald quits Don’s religious council
            Hill, “you’d be in jail” by my special prosecutor when I am elected.
            Arnold tells me “You’re fired.” He says can’t vote GOP bec/ he is American 1st.
            House GOP don’t understand why Ryan quits helping Don. Morally blind?
            Why do they trot out these 5 women with false claims?—I had only 4 for Bill.
            “I think it makes him a normal person,” son says of grabbing women’s p***y
            I am your savior, “taking the slings and arrows, gladly, for you
           
            Nixon refused to show tax returns too and Congress finally got $500,000.
            Warren Buffett says he does NOT deduct biz losses against income, as I claimed.


Billy Bush: I have a “tape of Trump being a real dog.” It’s ‘wolf.’ The Bushes Blush. 

Mike:   I don’t like Don’s comments but we can still take power to shut government
            “I forgave” Don for his actions but I can’t forgive Hill for her actions.
            Don does not seek my advice on policy on Syria. The Don is The Don.
            I can see him tweeting to world leaders all night about grabbing p**** in WH.
            “Don’t say that,” to supporter who plans to overthrow govnmt if Hill gets in.
           
            I told Wall Street they should fix their problems bec/ they know how and why.
            The Don says he will have his justice department come after me.
            But The Don said he has given up on the GOP—“unshackled me” to lose myself.

Buffett: I am under audit and have released my returns so The Don has political reason.

Tim:    Check the facts Mike: The Don is not really Prez material.
            Are the Russian hackers really working with The Don or just curry favor?

McConnell: “We’ll drop him like a hot rock,” Feb forecast of The Don nominee.
Ryan:   I just won’t appear with him to avoid being tainted by his ‘grabbing’ privates.
Bachmann: GOP House behind The Don—“masterful performance in the second debate."
Reaganites Opposing Trump. The god’s worshipers say The Don is no Ronald Reagan.

Trump “reminds me a lot of early Mussolini” Conservative legal scholar John Yoo said.
“The Only Thing Necessary for the Triumph of Evil is that Good Men Do Nothing”
Every successful civilization has died from the inside not from attack.


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!

Number 1 killer: Kia Rio--149 Deaths Per Million Registered Vehicles: are you next?
Wells stole $2.6 mil and fined but Apollo stole $40.3 mil from your pension: no fine
Navy Federal Credit Union caught making threats debt collection to its service members
Comcast caught illegally billing customers for unwanted equipment and services
RBS bank barred from handling 401ks collusion and interest-rate manipulation.
Christie and Kelly talked about Bridge-gate before it happened, Kelly’s lawyer claims.
Wells Fargo mgr filed complaint about illegal fee creation scheme in 2011—ignored  

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. They assume everyone has gun hidden. You and real criminals both have guns. Body cams make it harder to plant evidence and stage scene for TV crews.


SCAMS: America’s election process—no issue debate; name-calling sex TV soap

Ignoramus Award: US guilty of war crimes selling arm to Saudis to kill Yemen funeral?

How our government wastes our money
Tax breaks for corporations total over $1 TRILLION, enough fix roads, SS and Medicare

Where have all the jobs gone?
AI deep-learning replaces radiologist—computer quicker “more accurately” than Dr.
Wind turbine tech is the job projected to expand more than any other in 2014-2024.
Master’s Degree in Computer Science: $7,000 Georgia Tech Online
GM adds 650 jobs for more SUV in TN
Data engineering jobs at every company now—even small firms need IT today.

Who owns your account now?
LPL brokerage to _____________?


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