By Admiral William McRaven | Care of Wall Street Journal
We need a president with decency and a sense of respect.
In their 1998 book, “A World Transformed,” George H.W. Bush and Brent Scowcroft recount the events that fundamentally changed the world during the Bush presidency. At the end of the last chapter Bush observes: “The importance of American engagement has never been higher. If the United States does not lead, there will be no leadership. . . If we fail to live up to our responsibilities, if we shirk the role that only we can assume, if we retreat from our obligation to the world in indifference, we will one day pay the highest price once again for our neglect and shortsightedness.”
For all the challenges the past 20 years brought on this country--
By Kerry Pechter | Care of Retirementincomjournal.com
With the presidential election looming, the candidates’ views on Social Security and how to “fix it” are important to those who follow retirement policy. The president has made non-specific promises to maintain the program. Former vice president Joe Biden has specific proposals.
In a recent report, the Urban Institute, a progressive Washington think tank has reviewed the Biden plan. According to the report, an incoming Democratic administration would raise benefits for almost everybody and collect more taxes from those earning more than $400,000.
That is, someone with an income of $500,000 would pay $12,400 more in payroll taxes. Eighty-seven percent of the additional payroll taxes generated by Biden’s plan in 2065 would be paid by Americans in the top one percent of the income distribution, the report said.
Surprisingly, the Biden plan doesn’t fully address the Social Security funding gap.
Tuesday August 20, 2019 was a huge day in the Business Section of the Los Angeles Times. No, the United Nations did not declare world peace nor a new universal declaration of human rights. However, it was still monumental.
David Lazarus wrote that day of the broken premise of the “trickle-down theory” which was the centerpiece of the Reagan administration’s economic policy.
“For decades, working families have been told not to worry about the growing wealth gap between the nations haves and have nots. A rising tide lifts all boats. The magnitude of the deception borders on monstrous”, he wrote. “The reality is that as the rich get richer, the rich get richer, full stop”.
It has taken a near criminal lack of national management of a deadly pandemic to make us realize the depth of our folly. Trickle down? More like trickle up.
On that same day, Michael Hiltzik reported on the end of the shareholder value myth. Have you wondered why for the last fifty years it has seemed that corporations didn’t care about Americans and our neighborhoods and cities?
HECM for Purchase remains one of the most under-tapped resources for older adults and realtors alike. Even though using reverse mortgages for purchase have not quite met the lofty assumptions for the product, both loan originations and home sales would benefit from the potential boost. But that doesn’t mean that individuals — as well as isolated markets — haven’t had visible success with the Home Equity Conversion Mortgage for Purchase program.
Undeterred by the lack of home buying, Millennials tend to dominate the national conversation surrounding real estate. Nonetheless, people over the age of 60 account for approximately a quarter of all buyers.
By David Sieminski | Care of Consumer Financial Protection Bureau (CFPB)
September was National Preparedness Month , which is aimed at promoting family and community disaster planning, including financial preparedness. This year, for many Americans who experienced financial challenges as a result of the coronavirus pandemic, preparedness means taking small steps toward rebuilding and resilience.
If you are still struggling financially due to the coronavirus pandemic, you may not be ready to start rebuilding your finances. Visit Consumer Financial Protection Bureau to find resources on managing your finances during the pandemic, including help with your mortgage or rent.
If you are ready to think about your bigger financial picture for the first time in months, what’s the first step?
Marc has 36 years in financial services and 6 years in teaching.
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