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green new deal
It is now clear that the left is willing to go to any extreme including lying, cheating and stealing to take the election. Protect your money from funding their Green New Deal. I’ve been working with Baby Boomers and retirees for nearly a quarter century. I can tell you that I’ve never experienced hearing more concern from Baby Boomers and retirees about the risk and uncertainty for their retirement.
I’m not trying to be a doomsayer, but I do want to paint a realistic picture of the real agenda of the Democratic party. The left is telling false truths about a number of things that will significantly impact retirement taxes and savings.
Taxes come in different shapes and sizes. Don’t get caught in Kamala Harris’ tax haven cross hairs. When she tells you that the Republicans are coming for you, make no mistake about it, it’s the Democrats who are coming for you and me. Specifically, they are coming for your income and retirement assets through higher taxes.
If you take the word theirs and divide it in two, it spells, “The IRS.” There’s ours and there’s theirs. The Democratic party is clearly trying to take away ours and make it theirs.
When asked if she supported the Green New Deal, Kamala Harris answered that she did not. Yet, Kamala Harris was the original co-sponsor of the Green New Deal and the Biden/Harris election website clearly states that they support the Green New Deal. So, should you really believe that Joe Biden is only going to raise taxes on those earning over $400,000 a year? The Green New Deal has a projected price tag of $100 Trillion (and guess who is going to pay for it)?
Joe Biden said he will abolish the Trump Tax Cuts and Jobs Act (TCJA). If he’s elected, he will start by raising the corporate tax rate. Increasing corporate taxes indirectly causes higher inflation and reduces the performance of the stock market. When companies pay more taxes, they’re less profitable. Less profit results in increasing the price of goods and services which makes things more expensive. This rise in costs causes inflation.
Higher taxes lower wages, which results in less tax revenue. Revenue from elsewhere will be needed to cover what’s been lost. Lower wages result in less consumption. Less consumption causes a slower economy. A slower economy results in less profitable companies which translates to a lower performing stock market. A lower market means lower returns to support retirees income.
Our clients, Jim and Alice, shared they had almost all of their retirement savings at risk to tax. They were already frustrated with the amount of taxes they were paying. They were worried about their Required Minimum Distributions (RMDs) forcing them to pay even more taxes in the future. They were also concerned about the risk of inheritance tax on their IRAs to their three adult children.
They learned how to Roth convert $600,000 with zero conversion tax using one of our Hidden Wealth Tax Savings Solutions. They were able to lower their retirement savings risk by almost 50% and still increase their return by an extra 2%. They shared that they now have peace of mind because they have covered the reality of the higher taxes that are around the corner with their tax-free Roth income. This solution prevents their Social security from being taxed. They are at ease because they’re no longer worried about leaving their children with an inheritance tax burden.
Let’s get to work! if you’re someone with 401(k)s and IRAs and you’re not sure about the most efficient ways to eliminate taxes for Roth conversions, RMDs or capital gains, there’s not much time left in the year to save tax. The time to protect our retirement money is in 2020!
For those with a net worth of over $1 million, there’s a special provision in the TCJA that I’ll be teaching about this coming Tuesday in my Wealth Protection Webinar. For those who qualify, there’s an up to 100% tax deduction that you can take in the same year. This deduction can be used to offset the tax for Roth conversions, capital gains or to lower your taxable income. But this provision must be used before the end of the year.
Imagine, more financial success, less tax, less risk with less worry. Join me this coming Tuesday for my Wealth Protection Webinar. This complimentary educational event will teach you how to protect your money in 2020 and how you can enjoy upside market growth without having downside market losses.
This event is for those who have saved at least $500,000 or more in IRAs and 401(k)s and who want to protect their money while we’re still in 2020.
To register, follow these four simple steps:
- Go to www.RetirementProtected.com (or scroll down to the form below).
- Select the webinar date/time you prefer.
- Enter your information thoroughly – make sure to double check.
- Click “Reserve My Spot!” to submit, that’s it!
Once you’ve registered, you’ll receive an email containing a personal access link to join Tuesday’s event. Don’t forget to add it to your calendar!
Let me leave you with one final thought. It’s our green they want to steal to pay for universal healthcare, free college, student loan forgiveness and the Green New Deal. Avoid getting your retirement caught in Kamala Harris’ tax haven cross hairs.
Register for your preferred webinar time now because these events have proven to fill up fast. Those who attend this event will receive a complimentary copy of my latest eBook, The Baby Boomer Retirement Breakthrough-The Unfair Advantage to a Safe and Secure Retirement.
Spouses and Significant Others are Encouraged to Attend This Event Together
Note: We serve Boomers and Retirees all over the Unites States. We have an efficient, supported process to meet online, as have been doing for over 20 years. Our online meetings are private, the access is restricted and we never share our meeting link with anyone who’s not a part of the meeting.
Wealth Strategist | Best-Selling Author
We help Baby Boomers and Retirees thrive in retirement through a clear retirement road map that provides market correction and tax protection to optimize income and assets!