Do you know your “Pros” and “Cons?”
Do you know what the opposite of “Progress” is?
Well, it must be “Congress” See: http://jeffress.com/newsarticle/
Do you know your “Pros” and “Cons?”
Do you know what the opposite of “Progress” is?
Well, it must be “Congress” See: http://jeffress.com/newsarticle/
Happy New Year 2018
May we each have the wisdom and courage to take the “Giant Leap” from 2017 to 2018 to be a part of making our Nation and the World a better, happier and safer place to live.
May 2018 be a Blast ! Hmmm, Let me rephrase that. May we be blessed in 2018 with good health, love and happiness, peace, security and success that we so much want and deserve, and…
May Chaos be replaced with Peace & Harmony; Common Core with Common Sense; Political Infighting with Political Responsibility; Pestilence & Terrorism with Peace & Tolerance; Greed & Blasphemy with Godliness and Fear & Frustration with Faith & Freedom.
May 2018 put God back in our Schools; Common Sense back in our Minds, and America and all that it once stood for back in our Hearts. May these hopes, prayers and principles eventually give us Resolution instead of the Revolution we fear. Happy New Year to you all. The Jeffress Group… Jeffress.Com
Jeffress Group posted 171231 -> http://jeffress.com/2017/12/31/1675/
Photo credit to: http://www.happy-newyear-2018.com
Merry Christmas to Family, Friends & All Who Enjoy The Miracle of Christmas
May you be blessed with good health, happiness, love, security and success in the new year.
Happy Birthday Jesus, and thanks for giving us the reason to celebrate this wonderful day.
Thanks for following Jeffress.Com. Starting next week, we will have a weekly Educational or News Article, Puzzle or Quiz, and will address any appropriate question chosen from comments or requests. So, stay tuned to Jeffress.Com, also on Facebook & Twitter. Cheers and Merry Christmas.
Five years ago today, Jeannene lost her battle with cancer and left us to be with God. She was a smart, wonderful and loving wife, mother to Scott, Chris & Ian, grandmother and friend. She was an excellent teacher, made friends where ever she went, was always positive and made a positive difference in the lives and hearts of those she touched. She is missed, but not forgotten… Lots of good memories.
Tomorrow, Chris (our middle son) and his many friends will again host and celebrate “Jeannene’s Gift,” a wonderful fundraiser-dinner to help children with cancer, to have a Christmas they so want and deserve. Our gift…your gift is “Jeannene’s Gift,” and I know she would be proud to have this event in her honor. Jeannene’s Gift is part of the fund-raiser Chris and friends started nine years ago. You can read about it at –> http://goodtimebenefit.com/
Jeannene is 3rd from right in Santa’s hat. Photo at Chris & April’s, on far left.
The Jeffress Federal Tax Reformation Proposal / 171031, Revised 171202
Please Read All: My explanation & reasoning for this proposal is at the end. Do you agree?
Cat. – Taxable Income Tax Rate
1. Corporate & Small Business
.1 Corporate TaxRate . . . . . .. 20%
.2 Repatriated Business
1st 3 yrs back in USA . . . . .. 15%
2. Individual / Personal
.1 Less than $25,000 . . . . . . 1%
.2 $25,000 to $50,000 . . . . . 5%
.3 $50,000 to $100,000 . . . . 10%
.4 $100,000 to 200,000 . . . . 15%
.5 $200,000 to 500,000 . . . . 20%
.6 $500,000 to 1 Million . . . . 30%
.7 $1 Million to 5 Million . . . . 40%
.8 $5 Million & Greater . . . . . 50%
3. Small Business Pass-Through
.1 Same as Individual / Personal
up to a maximum rate of . . . 20%
4. Corporate Deductions
.1 Normal-Legal Business Expenses
.2 Depreciation of Production
& Service Equip: After 1st year 20%
and each year thereafter . . . . 10%
Deductions Allowable: Either “Standard” #5 or “Itemized” #6. Not both.
5. Standard Deductions, either on of the 3 categories:
.1 Individual; single, divorced or widowed. . . . $10,000.
.2 Married filing jointly & living together . . . . . $20,000.
.3 Single Parent / Head of Household with
children under 24 or disabled adult(s) . . . . . . $15,000.
6. Itemized Deduction / Individual & Personal
.1 Actual, out-of-pocket Medical Expenses; Greater than 10% of total income, but not to exceed $25,000. Must be supported by receipts.
.2 Educational tuition, books & supplies and room & board actual, documented expenses: Greater than than 10% of total income, but not to exceed $25,000.
.3 Mortgage Interest & Student Loan Interest: Documented by Form 1098.
.4 Charitable Gifts to Registered Charities, Churches, etc.: Documented Record.
.5 Unreimbursed Job Related & Misc. Verifiable Expenses, Fees, Seminars, etc;
Not to exceed 10% of total income, or $25,000, which ever is lesser.
.6 Social Security income will only be calculated at 50% of the amount received unless “other” income exceeds $40,000.
Examples of Tax Calculations
7. Single tax payer or married filing separately (3 examples):
.1 Works half-time at minimum wage: Income $7,540.
Takes standard deduction… owes nothing. Tax= $0
.2 Works 40 hrs/wk for 50 wks at $15.00/hr=$30,000;
Std Ded $10,000, Tax Inc=$20,000 x 1%=200 Tax= $200
.3 Professional athlete, Income $6,400,000/year:
Itemized deductions, $200,000. Tax Inc= $6.38 Million:
8 step calculation at rates shown above gives: Tax= $2,521,500
8. Married Couple, living together filing Jointly (5 examples):
.1 Tot. Income, $27,000 – Std Ded of $20,0000= $7,000 Tax= $ 70
.2 Tot. income, $42,000 – Std Ded of $20,000= $22,000: Tax= $220
.3 Tot. Income, $160,000 – Std Ded= $140,000, so the: Tax= $12,500
.4 Tot. Income, $256,000- Itmz’d Ded of $86,000, then Tax= $17,000
.5 Tot. Income, 17,360,000- Itmz’d Ded of $2,320,000: Tax= $9,361,500
Note: Pro Athletes, Movie stars & TV Personalities would finally pay their way.
9. Single Parent Head of Household
.1 Mother, Her disabled mother and 3 children, 2 in College:
income of $42,000; Med & Edu Deds of $37,000, then Tax= $ 50
.2 Widowed Dad, Pension+SS= $84,000- Med, Edu &
Mortgage Int totaling $56,500, Tax Inc= $27,500, so Tax= $425
Common Sense Explanation of this Proposal
10. This is my “common sense explanation” (common sense being the key words) for why I think this tax reform proposal is Fair, is Sensible and is Workable. It simplifies the massive tax code that we now have, that only tax experts and some lawyers understand, and doesn’t require paying your tax expert for preparing your taxes.
.1 I realize it costs more for the IRS to collect taxes on low income than they collect, so maybe it would make sense to not require anyone who makes less than $50,000 to file nor pay tax. (See note at end) **
.2 Our current Immigration Laws & Policies are so conflicting and convoluted that it seems almost impossible to control, limit or find those who cross our borders. Our culture, our civilization, isn’t so civilized anymore and seems more divided now than ever before… some say more than during the Civil War.
.3 I also know that the government tries to track “everyone” and I can’t think of a more determined group than the IRS to do this job. So, I think and propose that “everyone” should take some responsibility for supporting our country peril and should pay “their fair share” to support it. This will also give the Internal Revenue Service the perfectly legal way of keeping track of and going after tax evaders.
.4 For those who make nothing or very little, they will pay nothing or very little, but it will be fair. Those who make a lot will pay a lot. They already do. The top 10% pays more that all the rest combined. If you only make $20,000, you spend it all, but if you make $20 million, you can probably scrape by with spending a few hundred thousand and can afford to pay more taxes. Bill & Melinda Gates, Warren Buffett and several other billionaires have publicly stated that they pay what is required by law, but agree that they should be paying more. Look at my proposed rates above. The poor pay little or no more than they currently do.
.5 The Standard Deduction and the Itemized Deductions (# 5 & # 6 above) seem fair, cover all I believe is necessary, protects the poor, the elderly and disabled and should certainly simplify the tax code and preparation. The poor and the really rich will complain and I’m sure the NFL, NBA, movie stars and TV celebrities will hate this idea, but I’m more concerned with the peril of the “Lower, Middle and Middle-Upper Class” than I am the “do nothing sloughs” at the bottom or the “billionaire oligarchs” at the top.
.6 Our ill-conceived “Affordable Health Care Act” needs to be majorly revised or replaced and Immigration needs serious attention, but that is a separate issue.
.7 The Urban Institute-Brookings Tax Policy Center estimates that 47 percent of households pay no federal income tax, whereas the Joint Committee on Taxation estimate that 53 percent of households paid no federal income tax during the past few years. If you split the difference then 50% pay no “federal Income Tax.? Other taxes, e.g., state, property, gasoline and sales taxes are paid, but this proposal is dealing only with “ Federal Income Tax.” I think it is time we all support our country. IF we demand more than we can afford, our national debt, now approaching $20.6 Billion (http://www.usdebtclock.org/) will continue to grow and when faith is lost in the almighty dollar and it falls, so will our economy and it will take your entire pay check or social security payment to take your “SO” (significant other) out for dinner at McDonalds.
.8 ** Now, referring back to my Item 10.1, if this tax proposal is still too long and complicated, then maybe we should just go to a very simple Tax Rate as follows: Income: $0 – $50 K, tax $0; $50 – $250 K, tax 10% of total; $250 – 500 K, tax 20%; $500 – 1 million, tax 30%; $1 – 5 million, tax 40%; and Greater than $5 million, tax 50%. So, what do you think? Will you reply with comments (constructive I hope); Send it to your Congressmen and help it go viral; Send death threats again; Or maybe just support “Draining the swamp,” demanding that our wasteful government find ways to be more efficient, effective and serve the will of “We the People,” instead of just their own selfish interests and preserving their jobs. Remember: “Bad things happen when good people do nothing.” Thanks for reading and following Jeffress.Com,
Sorry about the format changed from what I submitted.
Hey Boss, Cut My Pay
Have you ever gone to your boss and said, “Hey boss, me an my SO (significant other) are spending way too much, so please cut my pay so we can’t spend so much. If we do go over, we’ll just borrow like we’ve been doing for the past few years.”
Really now… tell the truth… have you ever done that? Or, maybe you decided to cut back on your expenditures so you could live within your means. Make sense?
Well, if you have been listening and watching the news lately, Big Brother… no, not yours… I mean everyone’s… the “Government” is talking about cutting taxes. Tax is income, and I’m all for cutting my hard earned dollars going to my greedy, inefficient government, but I think we should talk about cutting EXPENSES, reducing inefficiency and unnecessary redundancy; eliminating the “clinging vines” and draining the swamp where necessary… Not just talking about cutting taxes (Income) and how beautiful it will be. Geeze… we’re already $20.677 Trillion in debt when I checked a few minutes ago. See–> http://www.usdebtclock.org/
I hope some of our “employees,” our Senators and Congressmen, who we elected and sent to Washington, DC, to represent us and look out for us, those whom they swore to serve will do so. I hope they will get off their dead Donkey and out from under the Elephant, admit that President Trump actually is President, start working together to “Make America Great Again,” rather than continuing the great divide that has been created over the past decade.
About the House and Senate’s version of the Tax Reform Act, I don’t like either plan as it is now, but I think that there are good parts in both and than IF they would just get together, they could come up with cuts in expenditures, cuts in taxes, simplification of the tax code, and have a plan that they could be proud of and helpful to us. Now that would be beautiful.
I’ve always believed that if I was going to complain about something or pose a problem, that I should do something about it, suggest a solution, not just complain. So, to that end, I will issue my “Jeffress Tax Reformation Proposal,” either later today or tomorrow. I have revised it by reducing the “comments” (it’s still long) and maybe get by with no death threats like I got when I submitted it a month ago. Halloween was not good for me this year. Follow and look for my Tax Plan, and comment if you like… but no threats this time. Cheers. Jeffress.com
Drawing credit to Randy Glasbergen, glasbergen.com
OMG, Do I Really Owe That Much?
I posted this photo and caption 6 years ago. It was terrible then… it’s a disaster now!! Today, every man, woman and child in the USA owes $61,538 as their proportional part of our National debt. Since just over half of the adult, tax paying population actually pay taxes, the average tax payer’s part of the National debt is now about $200,000, which for many people is their largest financial obligation.
I was brought up to be very patient,
But I’m now tired of this obamanation.
Education & health care still in stagnation,
Will next come castration or cessation?
Dates That Will Live In Infamy
On December 7, 1941, Pearl Harbor and other Pacific Islands were viciously attacked; 2,403 people were killed and 1,178 wounded. The following Day, President Franklin D. Roosevelt spoke to the US and World and called it “A date that would live in infamy.”
On September 11, 2001, (Now referred to as “9/11”), The World Trade Centers I & II were destroyed and the Pentagon seriously damaged. 2,996 people were reportedly killed and over 6,000 injured. This is another “Date that will live in infamy.” 😱 😰
In addition to the tragic loss of lives, injuries, unforgettable trauma, families torn apart and dreams destroyed, there is the terrible effect on people, not only in America, but in most countries of the World. We used to go to the airport, buy our ticket, put our bags on the scale and go board the plane. Now we have to get there two hours early. Our bags go through x-ray & metal detector machines, and are often torn into. We take off our coat, shoes and belt and then enter a body-scan machine, hold our hands over our heads and hope our pants don’t fall down. Travel used to be enjoyable but not anymore.
But those aren’t the only changes. There are new rules and regulations and diminished freedoms; New government programs and millions of hours spent for the sake of security, which we used to take for granted. And… when all direct and indirect costs are taken into account for the past 16 years, they total $4 to $5 Trillion Dollars. Yes, that is 4 to 5 Trillion… with 12-0’s! Maybe you are not used to thinking in “trillions,” so think of it this way. IF you are one of the 100 Million people who actually “pay” federal and state taxes, then you proportional part of this cost…this debt, is $40,000 or more. Even if you don’t pay taxes, think of the wasted time.
Yes… 9/11 is a date that will live in infamy. Power, money, intolerance, hatred and greed have given us these dates to remember. Wouldn’t it be wonderful if we didn’t have more of these tragic dates to remember?
Irregardless of “Who and how many” were responsible for these acts and for those who never want all the facts known, it is intolerable that some Muslims, both here and abroad, celebrated this tragedy. (It is documented that they did.) It is also intolerable that Islam, supposedly a “peaceful” religion, continues to allow a radical minority of Muslims to spread, teach and affect hatred, death and destruction on those who do not agree nor accept their ideology… the radical ideology I mean.
May our condolences, prayers and support continue be with those whose lives were affected by this Day In Infamy. Thanks for reading and following Jeffress.Com