Friday, March 15, 2019

GOP 'socialism': tax money to chosen few


GOP ‘socialism’
Example: Agribiz ‘will not be able to lose money’ with these subsidies. As Trump tries to scare Americans about left-wing DEMs, Congress passed the vast subsidies to large farm corporations. This is the agriculture’s bill. America’s version of socialism includes ‘crop insurance’ which provides premium subsidies to insurance companies and guaranteed prices for crops. Corporate farmers can’t lose. They can add ‘first cousins, nephews, and nieces of farmers to receive up to $125,000 in annual farm subsidies even if they are not farmers themselves.’ Corporate farms owned by those earning more than $1.8 million can funnel subsidies through other ‘pretend’ farm associates and relatives. Already wealthy agribusiness is paid to “buy up land in order to keep it dormant.” 54% of all cropland is rented so ‘landlords’ are subsidized, just like in cities. Land prices are inflated. Subsidies favor certain crops—corn gets 46%—and so the government makes certain corporations winners. According to one Rep: “Under what we have put in the bill, you will not be able to lose money, unless you really try.” Research firms are subsidized—‘stones are commodities’? Most small farmers actually receive NO subsidy. 40% of subsidies go to top 4-7% farm conglomerates, just like in Russia. Subsidies go to the more ‘equal’!

Where can you earn 9-13%?
Don’t forget to add in your dividends. Ask your broker and advisor to calculate your returns the last 10 or 12 years (including the ‘Fed bailout of 2007-8). It is your money, not theirs. Most smart money managers have most of their money in a low-cost market fund because COSTS KILL returns. Compare facts to the myth of Wall Street ‘managed’ funds: Facts: Jan 1, 2006 to Dec 31, 2018 = 9.3%; 2007-2018 = 8.76%; 2008-2018 = 9.06%; 2009-2018 = 13.96% a year. Ask your advisor to show you ALL the costs and your actual NET earnings after tax each year:
Sales Loads (including Sales Charge (Load) on Purchases and Deferred Sales Charge (Load))
Redemption Fee
Exchange Fee
Account Fee
Purchase Fee (Although the fee table in Form N-1A does not specifically include "purchase fees," if a fund imposes one, it would be included in the fee table under this heading.
In the fee table, under the heading of "Annual Fund Operating Expenses," you will find:
Management Fees
Distribution [and/or Service] (12b-1) Fees
Other Expenses
Total Annual Fund Operating Expenses
Now explain again why John Bogle’s index fund is not the wise choice for most investors. And why Warren Buffett is right about hedge funds.

Is your Advisor/Broker really ‘Acting in your best interest’?
Advisors/Brokers mislead Americans about ‘acting in our best interest.’ Two years ago, 46% of investors incorrectly believed that their financial advisor would only make recommendations in their best interest. In 2019, that statistic has risen to 65%. Most of us don’t trust salespeople whether selling used cars or financials. However, when asked about their own experience, they have become a victim of a salesperson’s strategy. Presumably once we make a commitment by giving them money, we defend our decision. No one wants to admit they made a mistake. Yet the number of frauds and ‘death by a thousand cuts’ goes higher. A salesperson is under tremendous pressure now because there are many alternatives to reach financial goals at less cost with unbiased advice. Brokers hide the total costs because they can take over 63% of your total accumulations. Only RIAs are legally required to act in our best interest. Brokers have little accountability. Trump killed the Obama Fiduciary Rule for all firms and sellers.

Is home ownership worth it?
In today’s market, you need to ask hard questions and do your homework. Can you afford the price, ongoing costs, and responsibilities? There is really only one good reason to buy: you are able to put down roots in one place for the foreseeable future. We used to live in Manhattan—on E 7th Street. We loved it and the rent was reasonable because the area had not yet gone ‘developed.’ We walked to work and rented a car to go out of town. However, when we had a child, we realized we could not afford to raise a child there—financially. Plus after living our adult lives in a small pre-war apartment we were tired of the lack of space, grass, air, quiet, and other unmentionables. So we did what previous generations did—we saved like mad. No more vacations, wasted impulse buys, etc. We did not stop investing in our retirement funds. We did research on where and how to live. We settled on downtown Jersey City. We could get to work on trains. We could buy a beat up 1860 brownstone and rent 3 floors—using the rent to pay the mortgage. We had to take care of tenant problems but we saw no other way. We underestimated repairs and maintenance. We spent most weekends fixing things. We had to move for better schools.

Why is successful investing so hard yet so easy?
Warren Buffett gives his comments in an interview recently. Most of us are not up to analyzing or understanding everything he says but there are few takeaways that seem clear: Follow the big picture. We, including our brokers, are not equipped to judge individual companies. His advice: invest in America—S&P 500 gains have meant if you invested $1 in it over the last 77 years, it is now worth $5,000. You do nothing else. It is hard to pick the right stocks all the time. It is hard to believe that when the 500 largest stocks in America (S&P 500) go down they will go up. However, he keeps saying we must. He believes it so much he put in his Will: put 90% of my estate in an S&P 500 index fund and 10% in governments. He has invested during every period from Hoover on. He never owns more than 10% of a stock. Buffett has the money to invest in many companies. We are like Billy Beane—limited budget so we take Buffett’s advice and use the Warren stats: $1 became $5,000 over time in a low-cost S&P 500 index fund.

Can I pay my Federal tax bill over time?
Sure. Many have found that Trump gave everyone else a break except them. Now you and I have to pay for the corporate and wealthy tax cut. If you got caught with the property tax cap of $10,000 and other changes, you may owe. Those who got a refund last year may owe $4,000 or more. After all the average home in northern NJ is taxed at about $20,000. Many have had their traditional deductions cancelled. Your closing costs even for a reverse mortgage may be deducted. However, many other fees are not. Save on filing fees at https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free. If you owe, file by April 15 and pay what you can. Tell the IRS that you need a couple of months by filing online: https://www.irs.gov/payments/online-payment-agreement-application. Longer payment plan requires charges.

Is Long-term Care coverage right for you?
GE Genworth is raising the price of long-term care coverage. Sales were continuing to slow so GE is halting individual sales through brokers and going with Telesales only.  Few insurers remain in the market for traditional LTC insurance: GE Genworth, Massachusetts Mutual, Mutual of Omaha, New York Life and Northwestern Mutual.
The largest long-term-care insurers have stopped writing new business entirely, including Continental Casualty, John Hancock, MetLife and Unum Group. Some carriers sell hybrid policies—life insurance and LTC coverage together. These appeal to more buyers since their heirs receive a death benefit if the LTC coverage is not needed. More buyers have found some coverage through their employers’ group plans. LTC policies have many working parts so it is difficult to compare price and benefits.




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Make America, “The Don”, Great Again
Truth isn’t truth, his lawyer says

Two Americas: A Banana Republic? Do we really want an infant king? Daddy Putin!

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How Govt wastes our money: Congress spends $1.3 Trillion we don’t have! 
Taxpayers give $4.5 welfare to create profit for Hudson developers: Socialism?
Trump Wall costs $25 million per mile!: $18 billion total, TX lose their land!

No WALL: Smart Port of NY seized largest drug shipment in Newark NOT TX!
Trump’s America: Tax money for war—less for human needs, no infrastructure.
GOP sells its soul to the devil: Reps turn back on American people!


SCAMS/SPINS:
DEMs could fix infrastructure (schools, bridges, roads) with GOP: spend wisely.

Jeb Bush caught accepting foreign money too. Does anyone follow the rules anymore?

BEWARE: When money managers pay us to buy their products—Look out later.

AZ boosts ‘junk’ health insurance: low price=low coverage for 3 years then what?

"Money Doctor" Dallas caught stealing $20 M from seniors: risk-free return ponzi. Nojail
Richard Cody, FL caught lying to clients about loss of nest eggs. Jail 2 years.
John G Schmidt, OH, caught stealing $1.3 M from elderly. Defrocked.

Fiat Chrysler recalls nearly 865,000 for pollution: owners paid for lower resale.
‘Lumber’ Liquidator’ caught lying formaldehyde-laced laminate floors: fine, no jail time.

Embezzlement insurance: your broker has to be in handcuffs to get paid. Most pay fine.


Trump declares himself winner of golf tournament he never even played in! Sick Sick Sick

Trump thinks “Airplanes are … too complex to fly”: Make America FEAR Again?
Software-driven cars may kill more people than Boeing. Programmers not omniscient.



Don: Hunchback of Notre Dame helps explain why immigrants are necessary to society.
Ivanka makes excuses for Daddy; husband trying to act with authority plays King fool.


Individual 1” could be a Russian “asset”: Why FBI opened a file on The Mob Boss.

The Mob Boss can never go to jail: Trump has Kava as Supreme so no indictment.
‘No man is above the law’ … well up till now. Dictators nullify courts first, then votes.
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Jobs:
More employers offer college savings plans: matching & payroll deduction.
Help neighbors, earn money: https://askumbrella.com/
Jobs never returned since Trump gave corporations our tax money


Who owns your account now?
News, straight from Associated Press wire service: https://apnews.com/
Don’t need credit card in Philly—law requires all stores take cash
Your ’15, ’16, ’17 tax refund awaits: $1.8B-- irs.gov/individuals/get-transcript



Miracle:
Cure from sickle cell anemia: stem cells were genetically modified to correct a DNA flaw





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