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Ron Paul for A New Direction

Wy 401K’s are a bad Idea – Future Money Trends

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To start off, I’ve never been a fan of the 401k, the very description of why people use them has always baffled me.

Defer taxes now and invest in a 401k so that when you retire, you can pull out your money in the lowest tax bracket. Think about that, even at age 15 I knew I didn’t ever want to be in the lowest tax bracket because that would mean I’m in the poorest tax bracket.

So by design, the 401k’s goal is to assist you as a poor old person, wealthy people need not apply.
I also don’t like to defer my investments and trap them like rats. If it’s still my money, then why do I have to pay a penalty to withdraw it out.

If the 401k was more than just a tool for Wall Street to rake in the profits through fees and regular dumb money buying on the 1st and the 15th, then it would apply to all investments.

What about other investments, like your own business; why isn’t that money tax deferred?

Think about all the savings that has gone to 401ks since the early 1980’s, where would it have gone instead if the government wasn’t manipulating the population into investing in a 401k? Perhaps it would have gone into investments that helped increase someone’s income today, instead of in 30 or 40 years from now helping them to survive the expected income category that puts them in the poorest tax bracket.

60 minutes did a special report on retirement accounts and uncovered all of the hidden fees, fees that add up to 50% of your savings over the course of 3 decades!

I think savings and investing is a great idea, but I hate that retirement planners and government officials have conditioned us to think that stocks, bonds, and mutual funds are the only answer.

The real answer is investing in yourself, your own business, or investments that you are closer to the center of, things like houses, oil wells, and land.

A lot of times with the deferment of taxes, comes the deferment of life. We only get one shot at this, so maybe you don’t want to hoard all your cash for when you turn 65 years old. Maybe you want to go on a trip around the world now…
Don’t defer your life and certainly don’t trust Wall Street to help you retire or become wealthy.

Do you think the bankers and investment advisers on Wall Street are actively planning to be in the lowest tax bracket for themselves?

As someone who runs a financial newsletter, FutureMoneyTrends.com, I assure you everyone on Wall Street is getting rich from building businesses, many of them which are brokerage companies collecting fees.

The 401k is also a mindless investment, something that conventional wisdom actually touts as a positive, but I think this is hurting us, it is making our people more dependent on the government and financially ignorant. I would bet that not 1 in 10 people even know what they are investing in. Have you ever considered that you might own a company in China that is using slave labor or a business that totally goes against your own religious or moral values?

Lastly, not paying the tax now is a huge risk. Do you honestly think taxes will ever be lower than they are today? With 50 million Americans on food stamps and our middle class deteriorating, I am sorry, but taxes are going to be much higher in the future. You are far better off paying the tax now than paying it later. Unless of course your plan is to be poor at age 70, then I guess max that 401k out!

 

Written by opinionoregon

May 8, 2014 at 4:36 pm

Posted in Uncategorized

Public schools are the arm of big government

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Everyday your child goes off to government public school his or her life and well-being is in danger. Nowhere in the world is this truer than in the United States.

Written by opinionoregon

May 7, 2014 at 8:20 pm

Posted in Uncategorized

Renter Beware when renting from @Hertz – Don’t get cheated

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If you are planning on renting a car with Hertz, beware of some perceived collusion between Hotwire and Hertz.

Four weeks ago I visited Hotwire and rented and prepaid a car for a trip to DFW. The rental company for that trip was Thrifty. I arrived at the counter and was given the car no issues.

Two weeks ago I did the same thing and was assigned Hertz. I arrived and was denied a car because the name on my drivers license did not match EXACTLY the name on my credit card.  This is the same drivers license and credit card I used two weeks prior.  Hertz had no problem keeping the money they received from Hotwire for the prepaid rental.

Short of being stranded, I had to find another rental company and rented a car that cost 2x what I already prepaid.  Now I am asking for Hertz to do the right thing and pay for the secondary rental.  I will keep everyone up to speed.

Bummer for Hertz, I need a car next week in Baltimore, the following week in Dallas and March 2nd in London.  Please be very careful when renting a car from Hertz.  I’d steer clear if I were you.

Written by opinionoregon

February 6, 2014 at 9:51 pm

Gov’t Unemployment Numbers Explained by Abbott and Costello

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COSTELLO: I want to talk about the unemployment rate in America.
 
ABBOTT: Good Subject. Terrible Times. It’s 7.8%.
 
COSTELLO: That many people are out of work?
 
ABBOTT: No, that’s 14.7%.
 
COSTELLO: You just said 7.8%.
 
ABBOTT: 7.8% Unemployed.
 
COSTELLO: Right 7.8% out of work.
 
ABBOTT: No, that’s 14.7%.
 
COSTELLO: Okay, so it’s 14.7% unemployed.
 
ABBOTT: No, that’s 7.8%.
 
COSTELLO: WAIT A MINUTE. Is it 7.8% or 14.7%?
 
ABBOTT: 7.8% are unemployed. 14.7% are out of work.
 
COSTELLO: If you are out of work, you are unemployed.
 
ABBOTT: No, Congress said you can’t count the “Out   of Work” as the unemployed. You have to look for work to be   unemployed.
 
COSTELLO: BUT THEY ARE OUT OF WORK!!!
 
ABBOTT: No, you miss his point.
 
COSTELLO: What point?
 
ABBOTT: Someone who doesn’t look for work can’t be   counted with those who look for work. It wouldn’t be fair.
 
COSTELLO: To whom?
 
ABBOTT: The unemployed.
 
COSTELLO: But ALL of them are out of work.
 
ABBOTT: No, the unemployed are actively looking for work.   Those who are out of work gave up looking and if you give up, you are no   longer in the ranks of the unemployed.
 
COSTELLO: So if you’re off the unemployment roles, that   would count as less unemployment?
 
ABBOTT: Unemployment would go down. Absolutely!
 
COSTELLO: The unemployment just goes down because you   don’t look for work?
 
ABBOTT: Absolutely it goes down. That’s how it gets to   7.8%. Otherwise it would be 14.7%.

COSTELLO: Wait, I got a question for you. That means there   are two ways to bring down the unemployment number?
 
ABBOTT: Two ways is correct.
 
COSTELLO: Unemployment can go down if someone gets a job?
 
ABBOTT: Correct.
 
COSTELLO: And unemployment can also go down if you stop   looking for a job?
 
ABBOTT: Bingo.
 
COSTELLO: So there are two ways to bring unemployment down,   and the easier of the two is to have people stop looking for work.
 
ABBOTT: Now you’re thinking like an Economist.
 
COSTELLO: I don’t even know what the hell I just   said!
 
ABBOTT: Now you’re thinking like Congress.

Written by opinionoregon

September 24, 2013 at 2:23 pm

Currency Wars: Americans are throwing gold and China is throwing paper

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currency war

Written by opinionoregon

May 8, 2013 at 3:31 pm

Your passport does not belong to you.

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Your passport is the property of the issuing government. Several circumstances exist under which authorities can cancel or confiscate your U.S. passport, or the State Department can refuse to issue or renew it:

  • If a federal court has issued a warrant for your arrest
  • If a federal or state court has ordered you not to leave the United States
  • If another country has requested your extradition
  • If you owe more than $2,500 in delinquent child support payments
  • If doubts arise about the legitimacy of your birthplace or naturalization as a U.S. citizen.

Even if none of these criteria apply, the list of reasons for the United States to confiscate or non-renew your passport is increasing:

  • The 2012 Highway Funding Bill eventually signed by President Obama contained a provision that would confiscate the passport of anyone with a “seriously delinquent tax debt.
  • In 2011, the State Department proposed a new “Biographical Questionnaire” that, if approved, you might have to complete to receive a passport. Among numerous other intrusive questions, the State Department wanted to know “if there were any religious or institutional recoding of your birth or event occurring around the time of birth (Example: baptism, circumcision, confirmation or other religious ceremony).”

Written by opinionoregon

April 9, 2013 at 2:58 pm

The last time the Dow was this high…..

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The last time the Dow was this high…

•Food stamp participation was 26 million, today it’s 48 million
•Gas was $2.75, today it’s $3.80
•Gold was $748, today it’s near $1,600
•U.S. National debt was 9 trillion, today we are at $16.4 trillion