Jeffersonian Blog
On April 5, 2023 (IR-2023-71), the IRS updated its list of the “Dirty Dozen” tax scams for 2023; some items are new, others “made a return visit.” The first on the list is one that I have been repeatedly asked and re-asked about due to all the advertising and hype on radio and the internet stating that your business can receive up to $26,000 per employee, even if you received a PPP Loan; and it only takes minutes to determine your qualification.
Whether it’s law students at Stanford shouting down a Judge invited to speak, or the “100 days of violence” in the summer of 2020 deemed “mostly peaceful protests,” that involved the burning and looting of privately owned businesses and the destruction of public buildings, the end of the American Republic — the experiment in individual freedom that NEVER existed on any large scale until after July 4, 1776 — may be identified by future historians with the indictment of our former president, Donald J. Trump.
We are fast approaching Tax Day, April 15th … since it falls on a weekend, our individual income tax returns are due on the following Monday; this year the IRS has extended the deadline until Tuesday, April 18, 2023. On this infamous day each year, every United States citizen and resident, whose gross income exceeds a threshold amount (e.g., $12,950 for a single person and $25,900 for a married couple filing jointly or $5 for a married person filing separately), is required to file their individual income tax return with the Internal Revenue Service (our version of the Gestapo), pay any taxes that still may be due, or, at the very least, request an extension of time to file Form 1040.
The Constitution of the United States is “the supreme Law of the Land.” All members of Congress “shall be bound by Oath or Affirmation, to support this Constitution.” Article III, Section 3 states, “No person shall be convicted of Treason unless on the Testimony of two Witnesses . . . or on Confession in open court.” Seditious conspiracy (18 U.S. Code § 2384) occurs when “two or more persons . . .conspire to overthrow . . . put down, or to destroy . . . the Government of the United States . . . [the Conspirators] shall each be fined under this title or imprisoned not more than twenty years, or both.”
In early 2017, Tony Robbins published Unshakable, Your Financial Freedom Playbook, Creating Peace of Mind in a World of Volatility. Robbins interviewed many of the Titans of Wall Street, e.g., Warren Buffet, John Bogle (founder of Vanguard Mutual Funds), and Peter Mallouk, co- author, “Wealth Advisor,” and Tony Robbin’s partner. Robbins made a great argument for investing in the stock market, but first, he explains, you must buy his book and call his partner for financial advice!
Since Joe Biden’s State of the Union, Lying-Joe, the Democrats, and the mainstream media have accused the Republicans of wanting to reform and cut Social Security and Medicare. Senator Rick Scott (R-FL) is on the record of wanting ALL federal legislation and programs to sunset after 5-years, which quite honestly, could be a good thing for American Taxpayers.
We are living in interesting times and for many, quite taxing times. As I explained in our January 10th blog, every generation has its share of upheaval. The only constant appears to be human nature and we do not learn from history. When Rome was burning, the average person had no idea; they were busy living day-to-day, working to feed and take care of their families.
Are you ready to become wealthy and financially independent? Would you like to ensure that you maintain your financial freedom? Would you enjoy seeing your children and grandchildren obtain financial independence early in their lives, no matter what their career choices and no matter how many mistakes they make along the way? And, would you find satisfaction in the thought of your parents retiring without worrying that they may outlive their money?
We are living “in interesting times.” A World in turmoil, inflation, recession, supply-chain shortages, crime, open borders, and power-elites that want to control every aspect of our daily lives. You think it’s bad now… Two more years of Joe Biden, with “a pen and a phone,” and even Democrats may be tearing their hair out!?
We are just 8-days from the mid-term election with less than 20-days of diesel fuel supply left in America!?! This unprecedented shortfall—caused by the Democrats and the Biden Administration’s War on Fossil Fuels—will lead to even higher prices of all food and consumer goods, most likely resulting in shortages, or the unavailability of many commonly purchased necessities, repair parts, and luxury items.
The mid-term elections are only 15 days away and early voting has begun in many States. Please, consider casting your vote for freedom, NOT democracy (see Freedom vs. Democracy, Publications — Jeffersonian Group | Financial Planning & independence.
In our last blog (October 3, 2022), Bear Markets Represent A Buying Opportunity, we listed 20 DRIP stocks that are great buys. At the close of the market on October 7th, Lockheed Martin (LMT) dropped in price to $403.96 resulting in a dividend yield of 3%, so we now have 21 DRIP stocks that meet our criteria. By the time you read this, LMT’s price might rise again, resulting in a dividend yield of less than 3%; if you do not own any shares in LMT – based upon global instability and the Russian-Ukrainian War – if the dividend yield of LMT is above 2.5%, we suggest you buy some shares.
The “Inflation Reduction Act”—more properly described as “the Schumer-Manchin Tax-and-Spend Bill”—provides $80 Billion for the IRS to hire an additional 87,000 employees, making “the IRS one of the largest federal agencies” employing more people than the Pentagon, State Department, FBI and Customs and Border Protection (CBP) combined![2] This $80 Billion is approximately six (6) times the current annual budget for the IRS.
On this past 4th of July, we celebrated our independence from Great Britain 246 years ago. As Ben Franklin aptly stated, “If we do not hang together, we shall surely hang separately.” With respect to the 56 signers of the Declaration of Independence, who “mutually pledge[d] to each other [their] Lives . . . Fortunes, and [their] sacred Honor,” many did indeed lose their families, their property, or fortunes, and 14 made the ultimate sacrifice, either dying in battle or from wounds, or captured and tortured to death by British soldiers.
I just filled up our SUV last Thursday, June 16, 2022; $5.80 per gallon, seems like twice the cost since President Trump left office! When we go to the grocery store, we are paying 25%-to-50% and often much more. Many of the products or brands we purchased in the past are no longer available, with many shelves empty.
“Great book--easy read--to the point--If you are losing money in your investment account this book is a must read--Since Covid we have lost a lot of money in two different large financial companies. We asked six months ago to have our investment money put into a safe account. Their safe investment was losing another 12% from mutual funds. This book will tell you to stay away from mutual funds! Mr. Beard from his newsletters and book highly recommends DRIP stocks (Dividends). Six weeks ago, we gave our broker a list of Drip stocks (most were in the book) to invest in. I am very happy to say we are up 5.4% in stock increase alone--dividends are not posted yet. READ THIS BOOK!”
