EFR PODCAST EP. #32: TAX SZN

We’rrreeeeeeee back new episode of the EFR Podcast with your hosts Businessman Bassey (Sammy BE) @Ecofiretv, James Lyman @ObsoletePeople (finally getting a twitter handle), and on the engineering boards Jon “The Don” Sterling @TheDramaBlock.

The trio discussed the tax season in the U.S. of A, month of April, as well as topics ranging from President Donald J. Trump’s tax returns, American citizen having to pay taxes (or if you don’t want to, face the penalty & consequences), @ YOUR OWN RISK, of course.

As well as topics, such as Herman Cain & Stephen Moore possibly being nominated for the prestigious Federal Reserve Board; then both gentlemen dropping out from the nomination process; and plenty of more economic, financial and business discussion topics…..

This is a must listen to episode, for your ears…

As always #BEBless #StayBless #GODBLESS #RealRecognizeDeal

Check Out Our Online Platforms:

1) www.instagram.com/EcoFireTV (Sammy BE)
www.twitter.com/EcoFireTV

2)www.twitter.com/ObsoletePeople (James Lyman)

3) www.EconomicandFinanceReport.com (Economic & Finance Blog)

4)@Economic-FinanceReport (Podcast/Online Show)

5)www.youtube.com/channel/UCWZo5bug…Nlb2VRfDCQ/videos (EFR.Tv Youtube)

6)www.SammyBuysHomes.com (Real Estate Investment)

7) www.TraderSoul.com (Financial Trading Website)

21 February 2019

1) The Swiss bank UBS has been fined $4.2 billion dollars for money laundering. The bank had created a sophisticated system, including special computer software, that allowed the bank to counsel clients on how to avoid paying taxes.

2) Amtrack plans to expand its services, but will be stressing short runs between cities, mostly in the northeast corridor. Many fear this will mean the drastic reduction of long haul routes.

3) 20 FEB 19 Stock market closings:

Dow               25,954.44    up    63.12
Nasdaq            7,489.07    up      2.30
S&P 500           2,784.70    up      4.94

10 Year Yield:      up   at    2.65%

Oil:    down   at     $56.90

LATEST TRADE WARS: INDIA ISSUES RETALIATARY TARIFFS ON USA PRODUCTS……

*image source: Shutterstock*

By: Economic & Finance Report

India has struck back on retaliatary tariffs on USA made products. They issued a petition to the WTO (World Trade Organization) on Thursday, June 14, 2018.

The tariffs are in retaliation of products the USA placed on aluminum and steel approx. a month or so ago.

India tariffs will be placed on certain USA, fruits, vegetables, motorcycle parts and steel/aluminum products. -SB

Siren Song of “Mommy will take care of you.” : Another Resurrection of Socialism to Answer the Impact of Technology Displacement on Today’s Economy and the Millenniums

socialism-bernie-sanders-castro

By: James Lyman, BSAE, BSEE, MSSM

Economic & Finance Report

One surprise of the sixteen election has been the way the youth of America, the millenniums, are suddenly responding to Bernie Sanders advocating socialism, simply because the Occupy Wall Streeters of September 2011 didn’t. As the Occupy movement gained momentum and supporters, advocates of socialism stepped forward to promote the same tired worn out philosophy that in the western world has become a synonym for failure and non-performance. But there was little support among the students for socialism, and much to the surprise of those advocates, they quickly found themselves talking to just themselves. And then Bernie Sanders comes along, a

lifelong and dedicated socialist, who magically starts drawing student supporters to the cause like a Pied Piper, and so suddenly socialism is again considered a viable political philosophy in America.

This is despite the long and sordid history of socialism’s failures, as well as communism, in delivering on their promises. Granted, this is largely due to youth’s lack of historical perspective, of not yet having the experience of life that tells them this is a bogus philosophy. They are not aware of British socialism in the sixties and seventies, with Britain’s Great Brain Drain problem when her intellectual assets (scientists, engineers, musicians, economist, … etc. ) fled the country to avoid the high taxes and floundering British economy brought on by the political philosophy of socialism. Just one prominent failure among many failures including the Communist Soviet Union and China (Communism is just socialism under a hard repressive totalitarian power which forbids any objections or actions to undo socialism). Nevertheless, today there is the socialist Venezuela mess, which right now is imploding before the eyes of the world on TV news, not to mention the economic troubles of Greece, Italy and Spain all from their socialist programs.

It’s easy to see why millenniums are drawn to the promises of Bernie Sanders as they face more and more under and unemployment (20 to 25% for recent college graduates), as they face the

overwhelming problems of obsolescence and the coming realization that there’s no future for them in the twenty-first century. For when people are hard pressed by the realities of their environment, especially when individuals have little to no control over their lives, it’s hard not to succumb to the siren song of “Mommy will take care of you.” For that’s the foundation of socialism– that Mommy will take care of you, if you will just quietly sit down and let the government take control of your lives … that is, don’t complain or resist.

Today, a technologically advance people are displacing a lesser one, and those lesser ones are coming from the folds of the millenniums. The youth of today are being played for chumps! It’s the politicians playing on the natural desire of people to ‘vote’ themselves success and prosperity. It’s much easier and a lot more fun to march in demonstrations and do political activism than struggle through a calculus or physics course to prepare yourself to be an asset for a technologically advance society. The political debate of the sixteen election is: Businesses is doing fine, but not so for many people, things are getting better for some, while worst for many others. For people, especially the young, when they are faced with difficult problems, it’s a comforting thought that a “mommy like” figure will step in and take care of you, just as your real mommy did with all those little hurts encountered in childhood. But it’s a siren song heard many times before which has yet to pan out. Their proposed programs really just constitutes a reservation- an artificial environment for warehousing unwanted and unneeded people, in this case the millenniums who have failed to advance sufficiently to make substantive contributions to the world’s most technologically advance society. Just like the Native Americans of the nineteenth century, the government ponders just what to do with these kids, but doesn’t have any real viable ideas about what to do with them.

The only real political debate for today should be the problem of obsolete people and what to do with them, as public schools, colleges and universities continue to pump out a flood of obsolete people. Millenniums will continue to be an increasing burden for society, dragging America’s economy down, instead of being a beneficial asset to America’s economy. Until this problem is successfully addressed, all other debates are meaningless nonsense. So in our time, which history will most likely come to call the “Age of the great pretenders”, where none of those who govern us seems to have a clue what needs to be done … how will America cope with this growing mass of obsolete people?

In other words– just how do we fix this problem?

Well first and foremost, we must get a functioning government. Until you have a functioning government, you can’t do or accomplish anything! And that means getting capable people, who are less backwards and behind than those who are now charged with leading us into the twenty-first century, to be elected to government service. Only then will it be possible to reverse the economic chasm so many of the millenniums are sliding into.

And will the time ever come when the political philosophy of socialism is finally laid to rest to remain buried and forgotten so as not to give false hopes to those of desperate economic stations in life.

ALMOST HALF OF AMERICAN CITIZENS DON’T PAY FEDERAL TAXES!!!!!!!!!!!!!!!!!!!!!!!

taxes

By: Economic & Finance Report

Approx. 77 million American citizens do not pay federal taxes. This has been indicated from policy think tank, Tax Policy Center. Americans can’t pay taxes if close to the majority, does not have taxable income, or make enough income to pay federal taxes.

The bottom later of citizens who make under the threshold of disposable income, get aid and assistance from the govt, which allows them to use it for sustainable purposes. It is an interesting point to consider, when filing this tax season; that if you are not making enough, you may not be susceptible to pay federal taxes. -SB

Wealth Being Sustained In Hidden Shell Corporations

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By: Economic & Finance Report

Wealthy people have used shell corporations and trusts to establish purchases of property in the U.S. and around the world. Shell corporations allow individuals to protect their identities and avoid tax encumbrances.

Wealthy individuals utilize these safe havens for the availability to secure their identities and their earnings.  This is not a new trend to say the least but it is increasing,  as more people attain assets and diversify their financial portfolios.-SB