Our ‘Representatives’ let the rich pay less tax than we pay

 

Our ‘Representatives’ let the rich pay less tax than we pay

A married couple making $200,000 a year could end up paying higher tax rates than a person making $200 million a year. That is the conclusion we see from analyzing the 15 top income earners. Some pay nothing just like the most profitable corporations. Who makes the rules that make the American progressive tax system a lie? They are the people we elect who take campaign funds (bribes) from these same wealthy folks. As one of the wealthy admitted: "We don't pay taxes. Only the little people pay taxes." When our Reps create systems that help wealthy folks hide their income, the tax rules can’t be used. The rich have no earned  ‘income’ to tax. They hide their assets in legal entities that can’t be taxed by any method. Meanwhile working people pay about 32.9% total tax. We can’t avoid SS, Medicare, property, Fed and state income taxes. We can’t hide from taxes since we don’t have dummy corporations, trusts, oversees entities and many other legal tricks. For instance, Jeff Bezos with $177 BILLION net worth had so little ‘income’ in a couple of recent years that he was able to pay $0 in federal income taxes in those periods. Our Congress creates loopholes so the rich have NO income—so no taxes—and never get audited. For instance, they can live on a loan financed by their assets. Loan income isn’t taxed: a $ billion asset can produce $100 million a year. The IRS can’t even figure out their schemes. We live under “socialism for the rich.”  We pay for the airports, highways, sports teams, courts, police, military, subsidies they use. They pay little.

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

 

When to start taking your Social Security benefits?

Use this free calculator to maximize your benefits: https://opensocialsecurity.com/. There are a lot of issues in this decision for some people. SS benefits are usually taxable. For others like myself, I had to begin early because I could find no work in my career field. For others like my wife who was still working and building her final pension, the wait till age 70 was a way to increase her benefits to the maximum—about $1 million. Your situation is unique and this decision is worth between $500,000 to $1,000,000 in income over a lifetime. Get help using free sources, including a visit to your local SS office or pay a fee-only financial planner to help you calculate all your income sources and potential tax situations. A commission or paid-fee sales person may not provide the best unbiased advice. Always get a second opinion if a certain product is recommended.

https://www.amazon.com/Lets-Do-Numbers-Creating-Retirement/dp/1502775522

 

How much did you have to pay for Twitter?

Musk bought Twitter with loans instead of selling his stock. He paid no taxes by using his ownership of Tesla to get the loan. You and I would need to pay capital gains tax if we sold our new car to buy an older car. When people buy a car from him, you and I give Musk a $7,500 subsidy—total $7,021,290,000 on 936,172 sales in 2021. Despite selling all those cars, Tesla paid nothing in taxes on a record profit of $5.5 billion in 2021. You and I pay more taxes/national debt since Tesla paid nothing. Elon Musk's net worth has surpassed $300 billion but he pays taxes at a rate much lower than ours. Elon Musk paid less than $70,000 in federal income taxes between 2015 and 2017, and he did not pay anything in 2018, according to recent reports. But even though we helped Elon pay for another asset he owns, we will receive nothing except paying for his avoidance of taxes. We and our kids will pay for the subsidies over time as we pay off the national debt. When people sue Musk for his mistakes, we pay for his use of court and judges from the taxes we pay and he doesn’t. It is a great system for the wealthy and powerful.

Avoid paying the taxes he should pay: https://www.amazon.com/Tax-Shelter-Avoid-taxes/dp/1985448300

 

Tax-refund Millionaire-- https://www.irs.gov/refunds

Most people spend their tax refund—your refund could be a retirement nest egg

Michele had trouble saving. She seemed to always be waiting for her next paycheck. She never had enough to save for a rainy day like her Mom did. She used to make about $35,000 as a shop manager but with federal, social security, Medicare and state taxes, unemployment, disability, and health insurance, she was not able to put anything away for retirement. Years ago, her local tax preparer suggested she use her tax refund to create a retirement fund. Usually Michele would use her refund to pay bills or buy something special. The tax preparer said that if she agreed to start an IRA with $2,000 of her refund, she would be able to increase her refund—Uncle Sam would help her save. The amount she invested would reduce her income and make her refund larger. The $2,000 could grow over time, if she left it in stock mutual funds in her IRA account. Over time, it has grown large enough that she will have enough for retirement.

I will help you start in 1 hour: https://www.amazon.com/Tax-Refund-Millionaires-Let-Uncle-Help/dp/149595644X

 

Which portfolio is the best for you now?
We are entering a time of high inflation and higher interest rates. What your advisor should be emphasizing now is a broadly diversified portfolio. Some advisors are pushing crypto for retirement even thought crypto is a speculative asset. Crypto may sell TV time but beware the dangers. Stocks are necessary because they are the most likely to overcome inflation in the long run. When interest rates are rising, fixed rate bonds are going to decrease in value. The bonds you can buy today will provide less interest in the future so few will want them and they will be reduced in price. When you compare the potential value of commercial real estate, you will hold on to your REITs. Commodities have been on a wild run recently with the Vanguard Index hitting 56% for 1 year. This fund represents a potential hedge against inflation risk and as further diversification for a traditional stock/bond portfolio. Keeping your money in a portfolio with a set of low-cost funds may be the best way to deal with the current uncertainty. No advisor can know the future so controlling your costs and taxes may be the best choice for now and the future. Learn yourself and save.

https://www.amazon.com/Millionaire-Mutual-Funds-Save-taxes/dp/1534939490

 

Annuity substitute

The annuity industry is pushing for Congress to have your employer include these expensive products in your 401k retirement options. Instead of moving your money to an IRA and taking the money for retirement income monthly, you would pay an insurance company extra to send you a monthly check. Employers used to offer a pension that you could count on to never run out of money. In return for your loyalty working for your company for 20-40 years, your boss would make sure you had income for the rest of your life. Sometimes employers even continued paying your spouse and included health care too: no longer. Since the 1980s, employers took the money for pensions and increased payout for senior management and stockholders. Employers passed the expense and investment risk to working people. Managements were still guaranteed their $ millions. The employees were given a couple of bucks to invest without knowing about investing. Most have done a poor job of guaranteeing a living retirement income. Employers are happy to pass on the responsibility to the insurance industry by encouraging workers to pay more for an annuity. The selling point is lifetime guaranteed income—but at a much smaller amount.

Consider annuity alternatives: https://www.amazon.com/Best-Annuity-Strategy-Income-Growth/dp/1497532019

 

A cost-effective emergency fund

If you own your home with some equity, you can set up an emergency fund at no cost. If you had an emergency expense like medical emergency surgery that was not covered by your health plan, where would you get the money? Would you go to your family, a 25% credit card, or file bankruptcy? A low-cost alternative would be a HELOC—a home equity line of credit. At the current 4% interest, you would be able to handle your emergency now and pay back the self-loan at your own pace and avoid overpaying for interest. HELOC amounts are tied to the equity in your home, a good credit rating and home appraisal. There are no closing, administrative or lawyer costs—little or no out of pocket costs until you use your line. Save $3,000 on fees, commissions, overcharges. Save $3,000 a year: https://www.amazon.com/Insiders-Guides-Discount-Financial-Services/dp/143480593X

 

 

 

?**********ACCOUNTABILITY**************?

 

 

Like 1776, this period is a test of democracy—We rejected an "American fascist" once

 

 

The Path to Dictatorship: 2010-2030

 

Jan 21 2010 Corpor­a­tions’ election-spending unlim­ited

 

Nov 2020 Wealthy discredit election process

 

Nov 21 2020 Trump’s Plans for a Coup

 

Jan 6 2021 Direct assault failed: guns & bombs ready

 

Nov 8 2022 Trump’s “national revolution”

 

 

Fascism: ‘Everywhere Babies,’ a picture book banned

 

Terrorist: “just followed Trump’s orders”

 

250 terrorists guilty: nonviolent misdemeanors.

 

Judge: Trump guilty contempt of court: lawless

 

How Govt wastes our money:

Disney punished for free speech by FL: residents will pay for its services and debts

FL will now regulate how you think in your school and your business

FL residents sue county for banning books, closed meetings: violates 1^st Amend

GA bans teaching "divisive" concepts like structural racism: whites don’t want to know it

 

FL judge now regulates national health criterion for shots, masks, disease, flu, etc

Trump judge, not doctors, not FDA, to decide covid treatment for children under 12

OK bans abortions: felony crime 10 years if doc caught

 

US and Russia sell the arms to end the world: will Putin or Trump pull the trigger?

 

FL election police (brown shirts) seek and destroy voter ‘fraud’: Trump mail-in ballots ok

 

SCAMS/SPINS:

CapWealth TN caught overcharging clients 12b-1 fees, etc

HighPoint Advisor caught overcharging clients: wrap program costs more: no disclosure

Beware: advisors switching from “personal interaction to digital technology” to cut costs

 

Ex-FBI Official Accuses Tucker Carlson Of Aiding And Abetting Terrorism

Giuliani to explain to Congress the plot to overthrow the government: lawyers do sedition

Whistleblower on Trump’s Russia funding probe is dead: DeutscheBank-oligarch link

 

Trumpist lawyer Meadows voting in 3 states: GOP voter fraud proved no jail time

GOP Trumpist: “I’ve Had It With This Guy” but fear of fascist’s power made him kiss up

Trump picks MI chief elections officer/law enforcement: lock in next election for GOP

 

Trumpist Green: not remember a thing re: “fomenting violence,” facilitating overthrow

Trumpist Brian Kolfage Andrew Badolato stole money for Mr T’s wall: 46 yrs prison

Trump Jr can’t count either: makes up math like he makes up news

 

More Black, Latino and Asian Americans turning to firearms for self-protection … but

Mass shootings are on the rise: anger, alienation, grievances or minor slights revenged

Ban guns not the books: no one was ever killed by a book: we are killing off our young

 

Fake Microsoft virus helpline steals $ 1.7 million from computer victim: ask Avast.com

Fake bank contact: legit looking call, text, email looking to steal your money.

Tesla Model 3 sedan on Autopilot crashed into a parked fire truck in IN: killed wife

Recall 48,000 Tesla speed display software upgrade: ‘over-the-air’ software update

 

Gambling addition: will US become like Australia: problem doubled over 10 years to 1%

Inflation from gauging not higher wages: 54% from profit margins; 8% from labor costs

 

Jobs

KY jury awarded employee $450,000: asked employer not to celebrate birthday, did it anyway

Top 10 states for tech jobs: TX, CA, NY, VA, FL,

When you need a little push to enter your highway lane: make a 3-D at home

Fidelity 12,000 new financial jobs

 

Study says: CA police do not like people of color, immigrants, women and LGBTQs.

 

Who owns your account now?

Orange County median price for homes rose from $985,000 to $1,020,000 in March.

Tesla crashes into $3.5 million jet after being ‘summoned’: “autopilot” kills their jet

Vehicle Dependability 3 year olds: Kia, Genesis, Hyundai, Buick and Toyota top list

 

Musk gives Trump and other fascists the floor to make more hate: it’s their right to hate

NJ E-coli beef recall: check your packages

Mastercard Free ID Theft Protection and Credit Monitoring: why pay up to $120 a year

 

Miracles:

A packed train TO Kyiv: going home to rebuild: will Marshal plan help?

Monarch butterfly is back: after years of decline: insects in decline from heating/farming

 

Belarusian railway workers who helped thwart Russia’s attack on Kyiv

A pet lover’s courage to save the animals in war: true grit by example

What the world needs now: Sympathy

 

Warming planet’s tangible impact on Alaskan native culture’s food traditions

97,500 square miles of trees vanished last year: 1/3 by fire alone

Trumpist head USPS buying all gas fleet: no electric deliveries

Manchin gets paid $500,000 a year to keep his coal company in the pollution business

 

16,000 foreign volunteers assist Ukraine in fight against Russia: 2^nd front

 

 

Everything in the universe from sun to stones is made of subatomic ‘vibrations’

A subatomic ‘particle’ is the smallest possible vibration (quantum) of a quantum field.

Mass–energy equivalence: E=mc^2   Everything at smallest level is moving!

 

We can apply for Medicare online: https://blog.ssa.gov/apply-for-medicare-online

We can apply for Social Security online: https://www.ssa.gov/benefits/retirement/

We can apply for health care online: https://www.healthcare.gov/

 

IAN

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts available at http://dankeppel.blogspot.com/

Have you taught your child how to make money?

 

Retirement is a dirty word to some Boomers

“For the first time in well over 25 years, we see a marked decline in labor force participation of older Americans and a marked rise in the share of them that are retired,” said Richard Fry, a labor economist with the Pew Research Center. But many Boomers just can’t let go of their ‘babies.’ Other goals/pursuits/hobbies need to be explored to make the transition. The hard part: “That whole process of thinking about work on the way to work, of planning mentally your day.” Some of us have had to plan how much we can spend and how we want to spend our time. We need to consider our costs for a longer period of time in retirement since we are living longer. Some of us are still paying off our mortgage. I found the Retirement Nest Egg Calculator useful in determining my asset composition for long-term spending. I know how much of each group—stock, bond, cash—I need to hold in order to sustain my income for 30 more years, including inflation.

My plan gives me confidence: https://www.amazon.com/Your-Retirement-Income-Checklist-TrumpWorld/dp/1544703260

 

Living beyond our means: walking a tightrope without a net

Most of us are living paycheck to paycheck, according to a recent survey. Where are you in these findings?

• Incomes of more than $100,000: 42%
• Incomes of $50,000 to $100,000: 66%
• Incomes of less than $50,000: 77%

It seems the more we make, we still live dangerously. If we have an emergency expense or are laid off, many of us will be facing hard choices. Many households have only one paycheck coming in. This makes life even more precarious. Contrary to the industry advice, you don’t need an expensive advisor to build a financial safety net. All of us have access to a savings account or a home money jar. About 40% of us are paying our bills on time. That means we are not wasting our cash on up to 24% bank card interest. That may be your first task—reduce your outstanding balance so if there is an emergency, you can ‘charge’ it. Second, saving or investing in an account at work may help you get over the monthly savings ‘wall.’ You don’t have to save what is left after your check is spent. Each $100 you add to your employer 401k or other pension account comes out before you see it. And it saves you current taxes. You may even be given a FREE money match. If your job does not offer this account, you can make your own tax-managed account online or at your bank. The trustee for this account can help you save by automatically debiting your checking account monthly. You don’t have to face the savings ‘wall.’

Start today; feel safer: https://www.amazon.com/Get-What-You-Want-FINANCIAL-PLAN/dp/1514751151

 

New American Retirement System: $2,000,000 Tax FREE

Create a $2,000,000 tax-FREE Retirement System. Use the best legal tax shelter: no taxes . . . ever. Tax-favored over a 401k even with 6% match* Protect your family and assets with your System. Borrow from your System to pay for large purchases. Buy whatever you need without going into debt to others. Self-insure manageable risks—invest the premiums saved. Buy financial services wholesale--save $3,000 a year. Manage your System in 1 hour per year. $2 million can produce $160,000 a year in retirement. No income taxes—spend it all. What is the hitch? You have to buy low-cost stock index mutual fund automatically every month. You can’t trade or stop investing. I will help you set up account on the phone: https://www.amazon.com/New-American-Retirement-System-ReserveTM/dp/1461030072

 

Have you taught your child how to make money?

Make sure you teach your kids how to create wealth the easy way. My parents were not investors. At my first job, I had no clue which investment option to use for my 401k contribution and company match. The HR person told me to put it into the 'safe' stable value fund. That was the worst choice at my age I learned later when I got my securities licenses. If I had followed their advice I would have ended up with $150,000 instead of a Wealth Reserve of $877,233 about 33 years later. I have used this 'Wealth Reserve' as I call it to have funds to use low-cost insurance, to buy two homes and 5 cars with higher down payments or cash, and now to receive $2,500 a monthly in retirement supplement. Now your child can build an account that provides tax-FREE retirement income too.

Time is on their side: https://www.amazon.com/Give-your-child-leg-up-manage/dp/1096505355

 

 

Putting your refund to good use

The average refund is $3,000. Save the $300-$600 tax prep cost by doing your tax return using IRS-approved tax software via IRS free file. Or AARP free tax prep. Do not mail your return since IRS is still processing 2019 paper returns. I just got my refund! Have your refund put in your account directly—direct deposit is the safest way to finish your taxes. Take all your credits: Child and Dependent Care Credit was supercharged through the 2021 American Rescue Plan. Parents can receive a tax credit worth as much as $8,000 — nearly four times the previous limit of $2,100. The Child Tax Credit provided funds throughout the year but some families may have been shortchanged. The expanded Child Tax Credit, by comparison, provides $3,600 for each child under six and $3,000 for children aged 6 to 17. The fact that the tax credit is also fully refundable is important because it could boost the tax refund that many parents receive this year. Invest your refund each year and you could have $500,000. Start your tax-FREE retirement fund so you have enough later on. When you can no longer work, you can spend ALL of your investment earnings—no taxes. This helps avoid taxes on your Social Security too.

Guarantee your future: https://www.amazon.com/Tax-Refund-Millionaires-Let-Uncle-Help/dp/149595644X

 

Insurance agents balk at providing full disclosure products

Insurance agents are suing the Labor Dept because they will be required to become fiduciaries to sell annuities to retirees. The fiduciary rule requires them to explain how they get paid, makes them liability if the annuity increases investor risk and may end their commission-based compensation arrangements. Agents fear having to disclose their conflicts of interest in pay from insurers and third parties. A fiduciary must provide the best product for the client which usually means lower rewards for the seller. Agents claim they will not be able to afford to sell annuities to working people since simple fees are lower than complex commissions: Some agents are paid with an advance on part of the client’s earnings over the 10-12 year future. Thus clients earn less than they would have. This is usually not disclosed in the traditional annuity sales process. Only later do client’s find out. Then they are charged 1-10% to get their money back. Insurers are lobbying Congress to force us to put our 401k nest egg into an annuity when we retire.

See alternatives: https://www.amazon.com/Best-Annuity-Strategy-Income-Growth/dp/1497532019

 

 

 

?**********ACCOUNTABILITY**************?

 

 

Like 1776, this period is a test of democracy—We rejected an "American fascist" once

 

 

The Path to Dictatorship: 2010-2030

 

 

Trump & lawyer criminal conspiracy probe

 

Don promises 2024 GOP takeover

 

Don and Tucker support Putin’s fantasy

 

Trump’s ‘genius’ bombs schools, orphanages

 

Ukraine: ‘I need ammunition, not a ride’

 

 

How Govt wastes our money:

Do you really want to give your face to the IRS? Facial recog not wise. Hackers rejoice

Sanctions: just talk: Russian biggies $ billions not touched: ships, homes, firms left alone

Putin hides all his assets from Biden just like Trump: “only the little people pay taxes”

 

Congress Made Sure the Rich Retire in Luxury—at our expense: we pay their subsidies

GOP actually takes meeting with president’s nominee for Supremes ,,, unlike last time.

Congress keeps vital drug like Insulin high to please drug makers: hospitals to make own

 

Oil/gas firms pay GOP committee blocking Fed control of inflation/money: GOP chaos

Our government approving medicines before shown they work: making us guinea pigs

 

SCAMS/SPINS:

US does not need Putin oil but oil producers raise price already

BP divesting its 20% stake in a Russian state-owned oil firm Rosneft

Russia could use crypto to circumvent the effects of sanctions

France takes Putin’s bud’s boat: $ millions for Uk rockets to kill Putin’s tanks

 

Ukraine asks for EU membership now; EU has been silent before

UN peacekeepers: where are they when Ukraine needs to deter Putin from mass kill?

 

MORE: Ukraine’s recent polio outbreak and a potential resurgence of tuberculosis.

War crimes: Putin using cluster/vacuum bombs on schools, homes

US ‘donating’ drones to attack Putin’s convoy: US ‘advisors’ may help with logistics

Japan Special forces volunteer to fight USSR-minded Putin’s troops

 

FL ex-cop kills father who texted daughter during movie previews: cop: “feared for his life”

Another ‘no-knock’ night raid killing by police: police not at foult

 

How to buy a car when selection is slim: few new cars and high price used

Honda Tesla cars: randomly slam on the brakes for no reason—No safety standards

Beware: Car illegal repossessions up: no chips, used car demand, big resale profits

 

New York's attorney general lets Trump skate through questions of crime: gets off again

Scammers come in all forms: research before fall in love

Homeowner $3,708 scam: FAKE: No program to give homeowners money

 

Cambridge Investment Research caught overcharging fail conflict of interest

Roger Ng Goldman Sachs caught stealing $ billions from Malaysian fund: ruin GS image

Richard Hoffman AZ caught Ponzi crypto-loan (mafia-links) money-laundering scheme

Ameritas caught selling more expensive funds to get kickback: failed fiduciary label

 

Baseball’s millionaires fight billionaires for more: ticket price$ exclude working folk

Movie tickets up: variable pricing at some: pick your time wisely

All these products were recalled: dangerous falls, burns, crash, etc, etc

 

Hershey candy caught using non-food ingredients (Whole Foods) no more joy

Fake fake fake: how we are mislead by photo tricks: PhotoShop any photo to mislead

TX school officials are violating the First Amendment by removing books from libraries

 

Credit reporting agencies used as a tool to coerce and extort patients on medical bills

Supremes hide how we torture people: protect ID of torture contractors

 

Unmasking for the new plague mutation BA.2?: 959,000 dead

 

Are doctors running ‘pill mills’ and pill makers pushing more distribution ‘drug lords?’

 

Jobs

Protect and serve: knee-to-neck move “to save his life.”

Hourly rate for a babysitter leapt 11% in 2021 to $20.57

Average hourly earnings rising only a penny to $31.58

 

Who owns your account now?

First Horizon, TN to Toronto-Dominion Bank

Best pet insurance ratings: Embrace Pet Insurance

IRS changes our legacy beneficiaries: our designated beneficiaries may be disregarded

 

Vehicles that save you money: 200,000+ miles: engineered to last

 

Miracles:

NYC DA runs on sending Trump to prison then immediately folds: mafia got to him?

Driver run over by military vehicle: driver, not car, survives

CA driest January and February on record: drought in the snow

 

We can apply for Medicare online: https://blog.ssa.gov/apply-for-medicare-online

We can apply for Social Security online: https://www.ssa.gov/benefits/retirement/

We can apply for health care online: https://www.healthcare.gov/

 

IAN

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts available at http://dankeppel.blogspot.com/