Trump vows to keep Socialism for the Wealthy

Trump vowed to keep Socialism for the Wealthy

“We renew our resolve that America will never be a socialist country," Trump said in his State of the Union address. But we already are a socialist country … for the wealthy. How else can we explain thousands of corporations and individuals that pay no tax and receive $ billions in subsidies? More than 60% of investors with $25 million or more are investing overseas, Spectrem found. What is their motivation? Tax shelters act as money black holes. America’s system of subsidies is complicated and long lasting. Since the beginning, some people and their companies have received help from a Congress whose members are mostly millionaires. In fact, Congress people are the only Americans who can legally make money on ‘insider information.’ Farmers and corporate farms continue to get rich even though the reason for subsidies ended 100 years ago. Some wealthy Americans have not paid their fair share of tax because they have their lobbyists help Congress make the rules. The current president and his son Jared are specific examples. One of the traits of a socialist society is that the elites get richer as the workers get less over time. Americans think that if you can get away with not paying your fair share of taxes you must be smart. We are in love with the American form of socialism that rewards the elites and socializes their failures. Our tax money bailed out all the big banks and companies that made bad decisions in 2006-7. Ordinary tax payers never get free money from this socialist government. Example: Trump’s business ‘smarts’ ended in bankruptcy 6 times. He is revered for his deal making, a TV star, and now president. The irony is that the president’s supporters are the victims of America’s Socialism for the Rich. Can America survive if the rich get richer and the poor get poorer?

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

Trump’s 20% deduction applies ONLY to bigger ‘small’ businesses

Final rules on this huge tax giveaway were issued and only Trump and his friends qualify for the 20% deduction—profit bump for ‘pass-through’ to match the giveaway to corporations. Many wealthy people hide their assets in separate entities—LLCs, corporations, partnerships. This is because you only get the assets (if any) of that entity if you sue because you were harmed by that entity. For instance, Trump uses over 500 LLCs in his empire. He uses debt which is deductible. Some use debt as income so they have no income tax. And if the wealthy structure their ventures in such a way that each creates losses, they may end up with a much lower percentage of taxes than the average high income person. Thus a NYC computer coder earning $180,000 but having only the standard deduction ($12,000) will be paying 32% of income ($57,000) while Jared Kushner pays 0%: a refund $ -4,000. The net result is that a small real estate investor (1-3 buildings) gets no break from the 20% deal. Nor can they take advantage of the new Opportunity Zones. For instance, an investor who invests $1 million and sees their investment appreciate to $1.8 million by 2028 would be able to sell at any time after that without paying federal income tax on proceeds in excess of $1 million. This benefits large real estate moguls like Jared and friends who can skip taxes on projects they would do anyway. Regular tax payers pay for the infrastructure they use without paying any taxes. You have a tax-FREE option.

Use Trump’s tax shelter: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

  

How much tax is due on money you inherit?

Most of your inheritance is NOT tax free. The feds and states have different rules. Estate tax is paid out of the decedent’s assets before any distribution to beneficiaries. An inheritance tax is a state tax that you pay when you receive money or property from the estate of a deceased person. Unlike the federal estate tax, the beneficiary of the property is responsible for paying the tax, not the estate. However, as of 2018, only six states impose an inheritance tax. The six states that impose an inheritance tax include Iowa, Kentucky, Maryland, Nebraska, New Jersey and Pennsylvania. Some states exempt some family members. Usually life insurance is tax free unless it was sold to you or it is really a life annuity. If you're the beneficiary of an estate or trust that must distribute all of its current income, you must report your share of the distributable net income, whether or not you actually received it. If property you receive this way later produces income such as interest, dividends, or rents, that income is taxable to you. If you inherit the family home or capital asset like stocks, you owe nothing if sold for the same value at death. If you inherited a pension or an IRA, you may have to include part of the inherited amount in your income. See Pub. 575 if you inherited a pension. See 590-A and 590-B if you inherited an IRA. Essentially, the IRS wants the tax on any tax deferred income before and after death. The only exception is money from a Roth IRA.

https://www.amazon.com/Give-your-Grandchild-tax-FREE-income-Lifetime/dp/1456433105

Avoid TTax $39.99 Refund Processing fee

You don’t need to spend $40 just to receive your refund. Turbo and other preparers advertise $0 cost filing. But then how does the cost end up over $50? We’ve been had! We want to receive our refund quickly and we don’t want to pay up front so we go for the Refund Processing Fee. Just like the quick refund loans of the past, we are going to pay unconscionable costs for instant gratification. We are misled by ‘$0 cost’ promise. By the time we finish with Turbo, we pay $79.98 or more. Each step of our return adds costs we are not informed about. And another fee to file state return too. I gave up after the first year. I found really free sites like Tax Hawk and FreeTaxUSA on irs.gov/app/freeFile/. One charges $12.95 for state filing. I have been using both for 5 years. My returns require almost all the forms and they still cost $12.95 total. Actually, you can avoid the state charge if you file in a state that has its own free site like New Jersey. IRS issues more than 9 out of 10 refunds in less than 21 days. You can track your refund using our Where’s My Refund? tool.

BEWARE not all ETFs are worth the cost

ETFs are day-traded index funds. As an index fund, the manager has settled on the securities. So why do some ETFs charge us over 1%? Could it be that Wall Street has turned this index fund into another cash cow? This one is a fund of funds and thus has a lot of mouths to feed. People invest in BDCs mainly as income plays because they generally pay chunky dividends. In that vein, the BIZD fund sports a 30-day SEC yield of 9.67 percent. But that can turn south in a minute and you will be stuck with the high annual expense charges. Low cost beats high cost every time.

https://www.amazon.com/Best-Predictor-Investment-Success-Cost/dp/1502524082

USA can’t tax it if it’s on the high seas

Another way the wealthy avoid paying their fair share: Put assets on the oceans under tax-free state registry. Some yachts carry $ millions in art. The yacht and the art are inside separate legal entities so that they can avoid personal taxation and legal attachment from lawsuits. Dems may find it hard to tax wealth if it does not appear under a person’s name but under a trust. In fact, the wealthy are laughing at Dems ideas to tax them. Their banks gained from Trump’s tax cut—tax fell to 19% from (2016) 28%. Wealthy got more dividends. You can avoid future taxation also by using an IRS-OK account.

Use your tax-FREE account: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO/dp/1539462382

Why pay 12% tax on my 2% interest?

There has to be a better way: I did my taxes and that includes paying tax on my interest from various financial institutions. I keep the money liquid because of the phantom ‘emergency’ that never happens. Meanwhile year after year I have to pay tax on the meager earnings. This year, I found a better way to never pay taxes again. There is an IRS-approved account that allows me to earn interest but never pay tax on the earnings. I can open this account at almost any institution—bank, brokerage, mutual fund, etc. I can take out my contributions anytime without tax. If I never use it, I can spend all the earning later without paying taxes. My family can use this account for any final expenses so I don’t need life insurance once the kids are grown.

https://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466

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Make America, “The Don”, Great Again

Senile Psychosis or Parkinson’s delusions? quetiapine and clozapine

Truth isn’t truth, his lawyer says

Yes, he ‘coached’ Cohen for Congress, his new lawyer says

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

Can’t understand why unpaid workers (slaves) need food banks

Is this our America? Forced off bus to prove citizenship; ICE says papers are fake

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How Govt wastes our money: Congress spends $1.3 Trillion we don’t have! 

Trump starts new arms race: Putin orders new missile program to hit Europe Reagan flips

Trump spends most of time with TV: wasted taxes—60% of $1/2 million + free planes

Trump gives up our open spaces in the Interior Dept to big oil lobbyist: more oil fields!

How could $1.8-billion Navy destroyer crash into oncoming cargo ships in 2017?

Trump elevates Koch Industry employee to ‘regulate’ cancer in drinking water.

Trump border troops cost $1 billions and catch very few murders, smugglers, bad guys.

Trump’s weekends cost us $64 millions: could have built the Wall with rich friends

SCAMS/SPINS:

NDG Financial caught making fake loans misrepresenting; not licensed: barred; no jail.

Religionists are wrong: God did NOT install Trump—GOP tricks and Putin’s mob did.

Home renovation scam: ‘property brothers’ will NOT your house

Trucks too expensive—good for GM; bad for us: GM profit rose-dump cars and staff

Keyless cars are natural for theft: you can buy the ‘relay  boxes’ to steal cars for $20.

Cable TV becoming a scam? Watch HBO for $15 not $150.

Name-brand foods and spirits may be scams. Costco Amazon test the experts.

Cash Tyme pay-day lender caught taking unauthorized charges. Trump gives breaks

Calm.com to settle your anxiety, sleep, etc worth $1 billion according to brokers.

Capital Securities, ‘Mr T’ confessed to theft of $1.5 million from 2 teachers. Suicide.

Brokerage clients seeking 2^nd opinion for more advice: like getting home remodeled.

Edward Lee Moody, VA, stole from seniors/church $6.6 million Ponzi: 13 yrs jail.

Scams against seniors by financial firms and rogue telemarketers on the rise. BEWARE

Dems try to use Wall money to improve SS benefits for poor retirees

Fake Wall crisis! Trump hires undocumented workers to work in his properties

Trump gets back at media coverage: border guards grill reporter for hours at JFK

Trump’s caravans lead to his golf courses businesses hotels: SANTA TERESA DE CAJON

Dear President Trump, this is how drug smugglers get over/under existing Walls.

Trump has friends at Deutsche Bank the Russian ‘money-laundering’ bank.

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

Trump has done what Putin wants: EXIT NATO, IRAN, SYRIA, INF Treaty, AFGAN.

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.

Supremes protect Don’s ‘Orders’? – GOP: ‘Sure, pres can change Constitution anytime.’

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Jobs:

GM fires 4,000 white collar jobs—mostly tech; files new mass layoff notices with state

Ford hires 500 in Chicago to make SUVs: stop making cars and Mustang.

Sears 45,000 jobs saved from closing but pensions unclear.

“Economic growth is tied to immigrants, 1 in 4 in San Diego foreign-born, Mayor Faulconer

Cindy McCain is staked out at Phoenix airport try to catch people she distrusts?

Who owns your account now?

DNA testing service gives your data without your knowledge: your relative does crime?

GE long-term care program gets bonus from corp GE to keep policies alive. 

Amazing! All your data is available on the internet: How to remove from some sites.

SunTrust Banks merge into BB&T with new name but BBT CEO King.

Miracle:

Pope admits priests abuse and impregnate nuns and it is still happening!

Frozen cat survives in Kalispell: all it takes is a hair dryer.

IAN

41 Watchung Plaza, B242

Montclair, NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alert

Claim ALL your SS benefits?

Did you claim ALL your SS benefits?

Even though changes were made in 2015, spouses can still receive benefits based on the primary earner’s work history. The spouse must be 62 years of age and the primary earner must be receiving Social Security benefits, according to the Social Security Administration. The spouse is entitled to half of the amount the primary earner is receiving. In general, both the primary earner and the spouse receive more money from Social Security the longer they wait to receive benefits. Social Security benefits grow each month that the recipient delays taking the benefits. A person waiting until the maximum age of 70 to claim benefits will receive approximately 8 percent more for each year he or she delays payments after the age of 62. That can make a difference later on especially if your family genes point to a longer life. One person in a close family took benefits at age 62 and one at age 70. Big difference for life: $1514 vs 2854 per month. Since both of them are still working after age 70 ½, they pay more taxes now than they did before because SS benefits are taxable to 85% AND they both must take out IRA withdrawals, called RMDs. RMDs are taxable too since IRA money was never taxed.

https://www.amazon.com/What-do-with-your-RMD-much-spend/dp/1718946716

Can large companies create affordable health care?

As Comcast, Amazon, JPMorgan and Berkshire Hathaway redesign care for their employees, can they save us all from for-profit insurers? No one is happy with current escalating costs and poor services and lack of essential cost information. Insurers don’t want to share data or even our own ongoing medical history. For most people, it is impossible to decipher their companies’ own care options—small co-pay, high deductible, lower premium, HMO, PPO etc. It takes a MBA and insurance consultant to find the plan that is best for our family. Comcast created their own financial wellness firm to assist employees to make smart choices. This is more important now that Trump promotes junk insurance that can bankrupt us for lack of comprehensive coverage. Some Dems think Medicare for All is the answer.

Buy only comprehensive care: https://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

Trump gives brokers more fees from us; wealthy get another tax cut

Trump wants to give advisors more fees for IRA and 401k accounts. Our deficit will balloon even more since the wealthy will be allowed to avoid paying taxes on their tax- deferred retirement money longer. Retirement savers must start withdrawing funds from these accounts when they turn 70-and-a-half. Allowing them to stay invested longer also preserves the assets under management advisors manage and AUM fees they charge. Some advisors report that their clients pay the tax due and reinvest the cash they don’t need now. However, if you are still working at age 70 ½ you can leave your 401k or other pension alone. You don’t need to pay tax until you retire. “Often times, these clients would prefer not to get taxed either because their income is very high or they would prefer to keep this money tax deferred for the next generation.” Trump’s rule change would mean less govt revenue, higher deficits, greater interest owed by those left to pay taxes. This creates an even larger cliff that most Americans will face in 10 years.

Avoid taxes like the wealthy: https://www.amazon.com/Trump-Tax-Shelter-Avoid-taxes/dp/1985448300

How can you avoid SCAMS in financial services?

Wall Street is a ‘war’ zone! We must enter this war zone with the protection of knowledge. We could lose all our lifelong savings in one trade. Brokers and advisors have weapons that can 'kill' us financially. They are hidden behind lies, exaggerations, obfuscations and straight-out fraud like faking our signature. Half-truths and our assumptions and greed are also at play. These are our 'soft' underbelly targets. There are warning signs but most SCAM situations require us to be knowledgeable and to check every move. My first day as a manager at a security firm I was told: ‘brokers are [car] salesman.’ Our future life is at stake and yet we give strangers our money so easily.

Take Buffett’s advice: https://www.amazon.com/Avoid-Scams-Brokers-Advisors-Sender-ebook/dp/B07GZ1WSP1/

Old ways the wealthy avoid taxes that we have to pay for them

The wealthy can make their wealth last with ‘creative’ planning so that the kids and grandkids get richer without taxes ever being paid. We have to pay for the courts, police, military, roads, airports, etc. the rich use but don’t pay for. We taxpayers help pay for their kids and grand kids yachts and properties. By way of a simple example, let’s look at a hypothetical $100-million estate. Let’s say that the investment returns for this estate, whether due to superior management or luck, are 8 percent, rather than the 7 percent market return. That extra 1 percent of return adds up to $1 million before taxes in any given year. Even if the estate doubles the market’s 7 percent return, it’s only earned $7 million in alpha. In contrast, if the family plans their estate effectively and avoids transfer tax, the savings will leave the family more than $30 million ahead. Try earning $30 million through excess performance is almost impossible. The best estate planning advisors use tools like recapitalization of businesses, freezes, discounts, and transfers into generation-skipping trusts to help protect family wealth. Effective planning can lead to an exponential advantage in family wealth over time.

Avoid paying for their estate taxes: https://www.amazon.com/Pay-No-Taxes-Retirement-legally/dp/1507527977

Are the ‘new’ fixed indexed annuities right for you? 

Sales of fixed ‘indexed’ annuities hit a record $17.6 billion up 17% over 2016. Just like legalizing sports betting in New Jersey, getting rid of the rule to "do what is best for the client" lowers the barriers to exploiting the folks who can least afford it. Essentially, New Jersey just raised taxes on citizens who can least afford them. Advisors say "guaranteed income for life” and “your principal will never decline even when the stock market does." But you know those statements are false. There are caps, participation rates and other contract limits so insurers don't lose money. And those limits don't go away when interest rates go up and CDs start paying 5-6% again.

You know about the time value of money: a fixed annuity payment is worth HALF in 20 years when most people will need it most because their costs will have DOUBLED. Example: $100,000 in fixed annuity pays $559/mo at age 65 now. Inflation 3% for 20 years raised price of gas from $1.06 (1998) to $2.837 (AAA). Your real "guaranteed income for life" will be worth $280/mo—Half Buying Power. Also, the real VALUE of your "principal will never decline" is reduced by 40-50% because of inflation. Insurers use these false statements because they sound right to folks who have no business or finance experience. Yes, you can put your money in a savings account so you won't lose money in the market but you lose over time including the lifespan of most annuities, even ‘indexed’ ones. The index doesn’t help much. Popular with brokers doesn't mean indexed annuities are the ‘best’ for us. It just means sales people don't have to follow the Fiduciary Rules. There are just too many caveats to annuities and most sellers themselves don't even understand them. Most people are better off with a ladder of CDs for safety. Or take Mr Buffett's advice for his family: Buy two Vanguard funds for the long term. Most unbiased advisors say: If you can afford an annuity, you can afford to do without them. 

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

Are pre-retirees driven by FEAR

Interesting response from one client after they went through the retirement planning process and finding they have enough money to last to age 95: "We need to save more money." This is an example of what I hear from many retirees--they are so used to saving and running on FEAR that they will end up as 'bag lady' syndrome, they can't enjoy their money. Even with 'proof' using a Monte Carlo market risk test, that says they have done a good job for retirement, they can't shake it. Our emotions take over our rational mind. 

We need 'therapy' with a financial therapist since we don't know the future and FEAR drives us. I think the financial press pushes the same message. 'You must do this because ...[a fear statement like SS runs out of money by 2034 or market correction can drop 40% of your portfolio] is all we hear on TV and from Wall Street ‘professionals.’

We need to get a retirement plan in writing: https://www.amazon.com/Financial-Future-Insurance-mutual-funds/dp/149355204X

Is Final Expense insurance right for you?

This kind of insurance does not require an exam so it is expensive. It covers those who know they are sick or terminal. One firm the does TV adverts wants $111.20 a month for $15,000 benefit (after 2 year waiting period). This policy could pay a relative for anything from funeral and last minute medical bills to a party. There are no restrictions on the beneficiary. However, consider alternatives like a pay-on-death POD savings account at your bank which probably has no insurance company expenses. $111.20 a month, $1,333.40 a year for male age 70 means that at the expected time of death, age 85; your beneficiary will have over $25,000 (3% https://www.bankrate.com/landing/cd-rates). If you have some money now, you can leave more with CD rates rising (3.53%). If you qualify for no exam term insurance of $20,000, you could pay $82.90 a month. This no exam insurance is usually for those who have no assets. Most people have an emergency fund or IRA that can take care of expenses as long as they are properly titled. IRAs go directly to the beneficially—no probate needed. Finally, you could just ignore their debts (you are not obliged to pay their debts) if they donated their body to science.

https://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016

Can you take the 20% business deduction?

The Qualified Business Income Deduction is a new tax regulation that will impact small business owners. If you own a pass-through entity—sole proprietorship, partnership, limited liability company, or S corporation—you may be eligible for a new tax deduction. It is a significant tax reduction for business owners who qualify for it. But it isn’t simple because numerous limitations and acronyms come into play. Here is a brief introduction to the qualified business income deduction. As usual see your tax preparer.

The Don giveth and taketh away: 10 deductions you can’t use: Entertainment, Loss Carryback, Losses, Transport Fringe, Relocating, Certain Gains, Domestic Production, Some Settlements, High Interest.

Pay your fair share: https://www.amazon.com/Only-little-people-pay-taxes/dp/1478222441

Can you still afford your long-term care policy?

Genworth Financial announced that regulators in 22 states had approved a quarterly weighted average rate increase of 58% for some of its long-term-care insurance policies. Unfortunately, such LTC price hikes have become the norm in the industry in recent years. In fact, Genworth, which has the nation's most LTC insurance policyholders, had already raised premiums by 28% in each of the past two years—and other LTC insurance carriers have applied for similar increases. You may not be able to afford your contract. "Genworth has lost $2.9 billion cumulatively in our long-term-care insurance business on our older policies, due to higher than expected claims costs," a rep said. But why should you have to pay for their mistakes in pricing—like bait and switch. They knew disability and longevity stats and insurers have always paid for the state regulators. Many of them worked for the insurers and are sympathetic. What do you do now?

Convert or quit? https://www.amazon.com/Long-term-Care-Insurance-Updated/dp/148274001X

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Make America, “The Don”, Great Again

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

Trump suggests protesting should be illegal

US democracy in crisis

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How Govt wastes our money: Congress spends $1.3 Trillion we don’t have!

Instead of helping poor fight eviction, we spend $80 billions on prisons for indigent.

AgriBiz: Trump’s $12 billion handout not enough so cuts govt pay except Congress.

GOP plans SECOND tax cut for the rich so reps don’t loose House seats. Deficit UP.

States help corporations take control of local laws and our rights. We pay the taxes.

SCAMS/SPINS:

Regulator caught firm allowing defrocked broker to work in firm again

More money spent on pulling our elections than ever before: can democracy survive?

IRS: you have until 9/18 to tell them how much money you have hidden overseas.

JPMorganChase caught sending blacks to poor branches; whites to rich branches.

MFS caught using false and misleading ads to sell funds since 2006: Fine no jail time.

Brokers/advisors still have conflicts of interest and hide charges/fees/poor returns.

Michael Siva, James Moodhe advisors caught trading on insider information

Jeffrey Goldman, Christopher Eikenberry caught day-trading $1.4 m fraud scheme.

Worst ETFs: small cap, gold, Argentina, Russia: Few win at market timing.

FL at a turning point in gov race: can dog whistles be overcome by young voters?

Trump has ‘Resistor’ inside trying to keep his finger away from the bomb.

GOP wants to censure reps that don’t fall in line with leaders: no discussions allowed.

GOP health policy allows denials and caps and limits except in CA.

When we all have guns for ‘protection,’ who will police shoot first? Safe in your home?

               police shoot owner who already shot intruder. Kids will have plastic killer guns?

Jobs:

Immigrants 600,000 to Sweden increased GDP/replaced seniors: Trump ideas wrong

Who is ‘Lodestar’ word user? Pence? Are they traitor or patriot like McCain?

Who owns your account now?

Airline account or Low-cost consolidator? Google Flights compares all.

$10 month mobile plan is best for WiFi data users: talk all you want.

water prices at risk in Miami: Rising seas and too much shit kill aqua.

Our social media has become propaganda tool to change our elections, culture and minds

Aretha had no will: get your documents in order now for your family’s benefit See LIST.

Miracle:

This is why one man counts: He saved countless lives by his courage to vote best for us.

‘I’m going to do whatever I can to help these kids. High school is hard enough without being homeless.'

IAN

41 Watchung Plaza, B242

Montclair ,  NJ   07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

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