You and I will pay more tax: our tax cuts reversed in 2019
A deeper
study of the bill shows the benefits for workers are thin. Trump has
promised Americans “huge” tax cuts, but only 44 percent of taxpayers would see
their tax bills reduced by more than $500 in 2019, according to JCT's analysis
of the winners and losers in the plan. 62% of Americans would get a tax
cut of at least $100 in 2019, according to JCT. 38% would either pay about
the same in taxes as they do now or get a tax hike.
But by 2027, just 16% would get a tax cut of at least
$100. See chart https://www.jct.gov/publications.html
Cuts
in Social Security and Medicare Medicaid coming to fix deficit, says Rubio.
GOP is so desperate they promise future increases if no growth but no ‘rep’
would raise taxes.
Time to use your IRS tax-Free trust: https://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466
Why are none of the
corporate subsidies and loopholes repealed?
“I had visions that
they were actually going to remove the methods by which many corporations
pay only 10% in taxes now. (But) what they’re doing is they’re
leaving in all those goodies that minimize corporate taxes, and (they’re)
lowering the corporate rate.” Senator McCaskill (MO)
REAL Reform could
mean that little card Trump held up. Every entity—household, corporation, LLC,
pass thru, partnership, sole proprietorship—will pay tax of 10% of any type of
income—wages, gains, royalties—all revenue from ANYWHERE in the world. There are NO more subsidies, loopholes,
deductions, child credits, energy credits, waivers for paying foreign
governments, deferring stock awards, etc, etc. Destroy all 74,608 pages of the
code plus the new 429
pages. Until Congress stops giving money to the donor class, avoid tax with credits.
Use your tax
credits: https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO/dp/1539462382
Wealthy and
corporations will still hide their cash overseas
Would you rather pay
$0 tax or new 20% rate? Apple
just put their profits in Normandy and Trump’s
cabinet hides their taxable income in ‘Paradise’ according to their law
firm.
Economists say that
there is little
enforcement of tax evasion so the downside is not bad—usually just a small
fine. The chance of getting caught is almost nil and now even better odds since
The
Don named a tax evasion lawyer to head the IRS. Economists say the only way
to stop evasion is to get all countries to report foreigner bank accounts or jail
the lawyers who set these schemes up in the first place. Either option is not likely
to work so the wealthy and corporations will continue to send taxable income overseas
and avoid
paying their fair share. They still use our roads, airports, internet, military,
courts, fire and police but don’t
pay for them. Time for you stop paying THEIR way.
Use your legal tax
shelter: https://www.amazon.com/Your-Tax-FREE-Account-IRS-approved-shelter/dp/153735292X
Is a Robo-Advisor
right for you?
This form of
investing is growing in popularity. Essentially, you pay less than a
full-service firm for a standard portfolio created by a Robo company. If you
are a regular investor and want some kind of oversight, this may work for you.
But the results
so far are mixed. When you pay less you earn more relative to your choice
of securities. The best balanced portfolios like Vanguard’s
Wellesley Income earn almost 10% over time. The best stock market portfolio
like Vanguard’s
500 Index earns 11% over time. A portfolio created with the highest
earning sectors of the market seems the best over time. Don’t be tricked by
short-term performance. You are likely to stay with robo forever.
Try the best
low-cost Robo-advisor: https://www.amazon.com/Best-Robo-Advisor-Ultimate-Automatic-Management/dp/1537111957
Which Americans are hurt
in the GOP budget?
Congressional Budget
Office analysis of the tax cuts: “The
bill would negatively impact individuals who make less than $30,000 per
year by 2019, the CBO said, while most of those making under $75,000
would be negatively affected by 2027. Child health CHIP
support has not been renewed. Treasury is out of money next Friday. We pay
subsidies to profitable corporations that continue to avoid paying their fair
share.
Children
need health services and food. Hungry children
in America is hard to believe given that we have households with $ BILLION
in assets. And there is little hope for the children. We have 40.6
million people living in poverty in 2016--$24,000 for 2 adults
and 2 kids. Mexico Greece Israel Turkey
Yet, the GOP budget cuts
$1 Trillion from Medicaid as well as Medicare. The individual tax cuts are
temporary: 31%
of middle-class filers would see tax hikes. Wages have been flat for 40
years of inflation and cuts
don’t help. Most companies do NOT
plan to raise wages or expand business. No company is planning on bringing
their profits back to US to be taxed. Is
this the America
Child illness and
poverty are NOT inevitable. ‘Of, By and for
the people’?
Should you switch to a low-cost trading firm?
Commissions for trades or bulk trading fees have fallen for
most discount brokers. Almost every firm has a deal. $4.95
is common. Heavy trading firms give discounts and more. You can start with
$0 down. Robinhood charges $0 for buying
and selling stocks. The real question is why are you trading at your firm?
What are you trying to accomplish with your portfolio? Unless you are making
more money by trading than a simple buy and hold strategy, net net, fold ‘em. All
the legend investors say: ‘Just buy a low-cost 500 index’ and be
patient. Do you have insider info that secures higher than average returns?
Do you just enjoy high-class gambling? Most studies say equity
investors earn little more than the inflation rate: 3.79% vs 11.06 for the
index. Vanguard’s
500 Index did 11.01% since 1976.
Have
you beaten the DJI earning 20% in 2017? Fast trading success requires huge
loads of capital. Do you use ETFs—index funds with a commission. Again, is it
worth it? Trading successfully means earning over 12% per year over time. It
does no
good to make 30% and then lose 10% compared to 2 years at 11%: Doubles
money every 7 years. Check your ETF or fund choice for high fees: https://www.feex.com/funds
You can do better with the Vanguard Top Ten: https://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X
GOP tax cuts create greater income inequality
Lower tax rates should help people in all income levels but
in fact the opposite occurs. Income
inequality worsens. Between 1979 and 2005, after-tax household income
rose 6% for the bottom fifth of households. The top fifth saw their income
increase by 80%. The top 1 percent saw their income triple. Instead of
‘trickling down’ to the middle income folks, tax
cuts just make the rich richer and the poor poorer. More effective way to
raise wages and employment and economic growth would be the infrastructure
bill Trump promised. $2.2
Trillion given to those already rich could pay wages and US companies to rebuild
many bridges, roads, and schools in dire need
of repair. About 20,000
are ready to fall down in the next 10 years. Rich people don’t repair
bridges, schools or roads. Local property and state tax will be increased to
fix infrastructure. GOP plans to cut
our Social Security and Medicare next year to offset the tax cuts to wealthy.
Use your shelter to avoid tax increases: https://www.amazon.com/Tax-Shelter-for-Americans/dp/1500426520
Is a Roth account right for you?
If you are saving for retirement at work or on your own, you
need to consider this one and
only tax shelter for working people. In 1997, Congress created a tax-FREE
account for regular contributions for later. You put taxed money in and it
grows untaxed and then in retirement, all the gains are tax-FREE. With a
regular 401k or IRA, you get a deduction early but then you pay tax on all the
gains. For example, you invest $250 a month in a regular 401k or IRA for 35
years and you have $957,000
with $802,000 taxable. You can deduct $3,000 from your income each year but
that may not lower your tax bracket. A Roth 401k or IRA account would lessen
contributions to pay tax up front but would provide $941,000 tax-FREE. In
retirement, with taxable pensions, savings and Social Security, you might avoid
income tax altogether since the Roth income does not increase your overall taxable
income.
Roth gives more tax-FREE: https://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976
Trump shuts down anti-propaganda center that collects
foreign Fake News
The Countering
Disinformation and Propaganda Act, introduced by Republican Sen. Rob Portman of Ohio, establishes
the Global Engagement Center under the State Department which coordinates
efforts to "recognize, understand, expose, and counter foreign state and
non-state propaganda and disinformation efforts aimed at undermining United
Sates national security interests."
Putin can now operate freely to
help Trump destroy our system of free speech—CNN, WaPo, NYT, etc.
Do you need to start your Required Minimum Distributions?
A required minimum distribution (RMD) is the amount that
traditional, SEP or SIMPLE IRA owners
and qualified plan
participants must begin distributing from their retirement accounts by
April 1 following the year they reach age 70.5. RMD amounts must then be
distributed each
subsequent year based on the current RMD distribution calculation amounts.
Your retirement money trustee will calculate the amount you need to withdrawal
by December 31 each year. It can be deposited into your checking account automatically
during the year. Check it now to avoid IRS penalty in April.
Make this part of your Plan: https://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016
****************
TrumpWorld
Trump is still just a mafia contractor from Queens—Dad
taught him to be The Don.
Smoking
gun: “Our boy can become president of the USA
and we can engineer it,” Sater wrote in an email to lawyer Cohen. “I will get
all of Putins
team to buy in on this.” Manafort
tells Russian mob he will keep them informed about “our boy.”
Ross,
Commerce, direct link to Putin energy consortium and Russia-Cyprus bank
Putin sent 60 money wires to US marked “to
finance election campaign of 2016.”
LOCK ‘EM UP--Mueller draining the swamp!
Papadopoulos rolls:
Trump Putin
liaison pleads guilty.
Manafort rolls: Trump’s
money launderer manager indicted: conspiracy
against US.
Flynn rolls: Trump’s
national security advisor and foreign agent pleads guilty to lying.
Treason
is not excusable by being stupid America
deserves better!
Congress
gives Kushner a pass on documents re: Russia
contacts—GOP helps hide.
‘Ministry
of Truth’ 1984 novel: Government propaganda is ‘truth’ when they say it!
Now we know who
is behind the attack on pedophile Roy—everyone except the few
If this is who we
are or who we are becoming, I have wasted 40 years of my life. Until now it was
not possible for me to conceive of an American President capable of such an outrageous
assault on truth, a free press or the first amendment. 11:32 PM - Nov
25, 2017
FoxNews: “You’re the president. Why don’t you act like it?” Can
Fox help impeach him?
My Theory on Trump/Putin ‘love’:
Trump got Russian
help/funding for business
from business/mob
ties to Putin. US
banks not interested in more
bankruptcies. No one expected him to win so no harm getting Putin help. Don
owes Vlad’s mob money so they sent mob
gofer Manafort to run the campaign. ‘Colluding’
Putin style. Trump always has a fall guy to
blame when caught in lie. Sessions claims campaign execs all
too inept and overwhelmed to collude on purpose.
TrumpWorld –
using presidency to make money the old fashioned way: theft
Dictator talk time:
“When the president
does it, that means it is not illegal,” Richard Nixon
“The
president can’t have a
conflict of interest.” The Don is above the law?
Fires FBI head because he was investigating The Don’s Russia
mob ties.
Trump
drains State Dept; CIA to State; AL Cotton to CIA
Trump
ASSUMES he is Person of the Year: Time
says
Fear is ruler’s
weapon Tampa
church ‘welcomes’ worshipers “we are heavily armed”
Ideology can
justify any policy: At RedState, there has always been one hard and fast
rule: Oppose
abortion at all costs. Christian Right is not Christianity but ideology.
Today child molester; tomorrow rapists? How GOP religionists justify
ideology.
1998 the House of Representatives approves two articles
of impeachment against
President Bill Clinton,
charging him with lying
under oath to a federal grand jury and obstructing
justice.
2017 Nov. House of Representatives introduced articles of impeachment
against President Don Trump, charging him with firing FBI Comey, violations of
the Emoluments Clause, actions "undermining" the judiciary and
freedom of the press.
2018 the House of Representatives approves two articles
of impeachment against
President Don Trump, charging him with lying
under oath and obstructing
justice.
Quid pro quo:
"something for something."
“The drug companies are getting away with murder” so Trump
gives them agency
Trump
gets US
to pay for his family legal problems—is he out of money already?
Flynn
has gone over to the light side—Another enemy of the United
States turns.
We have given The Don time to act like president: Time
to Impeach for obstructing FBI
Regulation is
necessary: We
need protection. Saves $12 billion of our money!
(No one
person can afford to sue a bank: class actions banned by GOP now.)
Trump
names drug profiteer to run health agency—‘Drug Murder’ Club in
charge!
Another special person dead—“guns don’t kill people” for
fun. Is
your wife next?
Record
gun purchase background checks 11/24—Death Friday forcasts Dem win 2018?
Trump
ends Protection Agency that “has forced the big banks to return more than
$12 billion directly to families they cheated, and it's handled more than a
million complaints against the financial institutions. The agency has helped
make life a little fairer for working families, and that's why the Wall Street
banks hate it.”
Trump
has suspended our right to bring class action lawsuits against our
advisors/banks.
Tillerson
Exxon calls Trump a ‘f__king moron” ‘MORON’
and LIAR:
McMaster, National security
adviser: Trump has intelligence of a “kindergartner”
How Govt wastes our
money:
SCAMS:
$1,877
for ear piercing in hospital—bring your lawyer to hospital next time.
$3,660
for 4-mile ride in ambulance—call your own taxi next time.
Bitcoin, all VC can be use to buy
things here and there but a bubble, 20%
fall.
Tax
Relief Co promises help if owe IRS back taxes but users say it is scam.
Jobs:
Who owns your account
now?
WellsFargo
to give up personal insurance business—auto, homeowners, renters, etc
Miracle:
It would be a miracle
if the tax cut bill passes this year. 10 GOP say problems rise.
IAN
41 Watchung Plaza, B242
973.746.2014
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