Showing posts with label Before. Show all posts
Showing posts with label Before. Show all posts

Thursday, 31 March 2011

Twas the Night Before Doomsday 2012

Twas the night before Doomsday, two thousand and twelve
Not a creature was worried, they'd all prepared well.
Provisions piled high in the basement with care,
In case that The Comet soon would be there.

The children were nestled, all snug in their beds,
While Visions of Catastrophe danced in their heads
And Mamma in her Kevlar, and Me with my Uzzi,
Were heading for bed with our minds feeling snoozy.

When up on the Big screen there arose such a clatter
From all the Talk show hosts, and the internet chatter
Away to my desk chair I flew like a flash,
Tore open the browser, and stared in abash.

The websites were pumping their dower doomsday stuff,
And I was tired of it all, Just about to log off
When, what to my wondering eyes should appear,
But a miniature sleigh, and eight tiny reindeer.

With a little old driver, so lively and quick,
I knew in a moment it must be St Nick.
His eyes-how they twinkled! his dimples how merry!
His cheeks were like roses, his nose like a cherry!

His droll little mouth was drawn up like a bow,
And the beard of his chin was as white as the snow.
But his face flashed with anger, and he stomped and he seethed,
(For the world had gone wild with this Mayan prophecy)-

"Come Comet, come Earthquake, come Nostradomus
Come Famine, come Pestilence, and all that bad stuff.
These things are so awful, they horrify us,
But why, do you suppose, on the eve of Christmas?

First came old Scrooge and his Bah, Hum-Bug junk,
Now it's doom and gloom prophets spreading dank Maya Bunk!
To discourage hearts and to make folks feel drear,
They always pick Christmas, the best time of year

I don't like what they're doing, and I think it's a plot,
To bring people terror, believe it or not!
What right have they got to go spreading 'round fear?
'Tis the Birthday of Christ, Now be of good Cheer!

It's just one more trick, can't you see, don't you know?
To steal away Christmas, from right under your nose!
Those Maya's are Grinches, as plain as can be,
They want you to focus on them, and not He,

Who came to this earth as the Savior of men
And died on the cross in atonement for sin.
So don't trust the calendar of the ill-fated Maya,
Believe upon Jesus, God's promised Messiah."








Dan Boyd is a prolific writer, and considered to be somewhat knowledgeable on the 2012 Doomsday Issue. For more information on Doomsday 2012, please visit: http://www.the2012warning.com

Wednesday, 30 March 2011

A kid-friendly tax shelter to consider before April 18 …

Nilus Mattive

In my last few columns I’ve been talking about a number of ways you can both save for retirement and reduce your tax burden.

But today I want to talk about one more type of tax shelter that’s great for a child in your life — whether it’s a son, a granddaughter, or even a niece. In fact, I’ve been using this very same type of account for my daughter Vela since she was born in 2007.

It’s Called a Coverdell ESA,
And Here’s How It Works …

Yes, the name sounds pretty intimidating … but what is now called a Coverdell Education Savings Account used to be known simply as an Education IRA. I guess lawmakers later decided that calling it a retirement account was silly since these things have to be used by age 30. Either that or they were looking for something to name after yet another Senator (in this case, Paul Coverdell of Georgia)!

Of course no matter what you want to call it, the Coverdell account does function very much like Roth IRAs designed for young students.

Like Roth IRAs, they allow you to sock away money — $2,000 a year, in this case — by tax day. And like Roth IRAs, as long as the funds are used for the benefit of schooling costs, any returns earned in the account will be distributed free of additional taxation going forward.

While that’s not an eye-popping number, it’s still a nice start and will add up over time. Plus, it’s perfect for using any tax refund money you receive.

Meanwhile, don’t underestimate the benefit of that tax shelter! Heck, let’s say you happened to put $2,000 into your child’s Coverdell account and invested it so wisely that within ten years it had miraculously turned into $200,000. That full amount would be available to pay for your kid’s education, and not one penny of taxes would need to be paid as you pulled it out!

Another cool feature of Coverdell accounts is that — unlike ever-popular 529 Plans — they can be used for expenses related to all types of schooling: High-priced pre-K classes, private secondary education, and many associated costs such as computers and books. It’s worth noting that this feature was set to expire in 2010 — but as part of the recent tax package, it has now been extended.

The contribution limit was also set to drop down to just $500 a year in 2011, but the tax package also extended the $2,000-a-year limit through 2012.

What about income restrictions, you ask?

A Coverdell can be a great way to save some money for future education expenses.A Coverdell can be a great way to save some money for future education expenses.

Well, like the Roth IRA there are some caps to be aware of: Technically, you cannot fund a Coverdell if you have MAGI above $110,000 filing singly or $190,000 married filing jointly. Phase-outs kick in at lower levels, too.

But here’s where it gets interesting — even a child with no earned income can contribute to a Coverdell!

So if you’re above the income threshold, you can just gift the $2,000 to the child under the Uniform Transfer to Minors Act and they can put it in the Coverdell themselves.

Yes, it’s a stupid formality, but if it works in your favor, go with it!

And again, please note that you can establish a Coverdell for ANY child in your life — not just a direct relative but even a friend’s child or grandchild. Corporations and trusts are also free to establish Coverdells.

The only thing to know is that the Coverdell’s beneficiary can only have $2,000 contributed to his or her account in any given year. So you should always ask whether an account already exists and how much has been deposited before establishing one on your own. Contributions must also be made before the beneficiary turns 18.

As I noted earlier, a Coverdell beneficiary has to use the funds before turning age 30, or else taxes and penalties will likely be owed. However, the account can always be switched to another beneficiary before then — even if the new recipient is between ages 18 and 30!

Bottom line: You don’t get the potential for tax deductions that you do with 529 plans, but as you can see, Coverdells are a unique way to sock away a little extra money for someone special. And they can be fully funded in addition to 529 plans. So if you’re an aggressive saver and planner, they are definitely worth investigating no matter what.

If you’re interested in establishing a Coverdell, just check with your regular brokerage house or other financial institution. Most offer them, and it’s just a matter of completing some simple paperwork. But remember, you only have a couple weeks left to open one for the 2010 tax year!

Best wishes,

Nilus

P.S. While I’m using a Coverdell to help plan for my daughter’s future education expenses, I’m helping my dad plan for his retirement with a regular IRA. To learn more about what we’re doing there, just click here.

Nilus Mattive has been obsessed with dividend-paying stocks since the sixth grade. And after graduating from college, he began working for Jono Steinberg's Individual Investor Group, where he wrote a regular investment column. Later, Nilus spent five years at Standard & Poor's editing the company's flagship investment newsletter, The Outlook. During that time, Nilus also penned his first finance book, The Standard & Poor's Guide for the New Investor. These days, Nilus loves telling investors about dividend-paying stocks in his monthly newsletter, Income Superstars.


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Wednesday, 23 March 2011

Britain’s income taxes leaned relatively heavily on the rich before the 50p rate

Britain’s income taxes leaned relatively heavily on the rich before the 50p rate
Matthew Sinclair  •  2020 Tax Commission  •  Tuesday 22 March 2011

An interesting article by the Tax Foundation yesterday looked at how heavily different countries lean on those with higher incomes.  It cited OECD data from the mid-2000s (i.e. before the 50p rate) looking at the share of taxes coming from the richest decile (the richest ten per cent of the population).  That showed that the US took the most, at 45.1 per cent of all income taxes, and the UK was pretty high at 38.6 per cent.  However that could partly be explained by greater income inequality in the US in particular: rich people have a greater share of total income so they pay a greater share of total income taxes.  To correct for that they look at the ratio between the richest decile’s share of income taxes and their share of market income.  Again the US topped the table with the highest ratio at 1.35.  The UK also leaned relatively heavily on the rich though.

Ratio of share of taxes of richest decile to share of market income of richest decile, by country, mid-2000s

Of course, that graph is far from a complete picture.  There are consumption taxes too and they hit the poorest hardest.  It does show though that a steady pursuit of relatively low top marginal rates of income had yielded quite strong results in terms of getting the rich to pay a substantial share by the mid-2000s.  There is a real danger we are throwing that away at the moment.

Now we have the 50p rate which most independent forecasters expect is not raising any revenue.  That will mean the rest of us have to pay more.  New gestures are apparently being lined up as well like a private jet tax.  If that just amounts to adding air passenger duty to flights on private jets then it will probably be pretty irrelevant.  If it is more punitive, it will be yet another strike against the idea that Britain welcomes people who bring money and jobs to the country.  It will be another straw that breaks more camels’ backs and sends some limping off to Switzerland.

If we want to reduce the burden on ordinary families we need to stop trying to mislead them with those sorts of gestures.  Instead there are two critical steps.  First, stop the rapid growth in some items of spending – like International Development and the capital budget of the Department of Energy and Climate Change – and use the money to start lowering taxes. Scrap HS2 as an intolerable white elephant while resources are so scarce.  Go for more affordable options to get the capacity we need.  Then cut back on attempts to use the tax system to police behaviour.  Higher and higher taxes on smoking and drinking might satisfy nanny state enthusiasts but they hit the poor hardest.  That means they directly increase benefit dependency or poverty.

The biggest determinant of the fortunes of poor and middle income families will be the extent of economic growth, not how the resulting prosperity is carved up, so we need to do all we can to create the right conditions.  But to the extent those families are paying a larger share than they need to be, they are paying for political class shibboleths like sharp rises in international development spending and nannying taxes.  It isn’t because the rich aren’t paying their share.


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Monday, 14 March 2011

How Long Before Christians Are Actively Persecuted in England?

eunice-owen-johns.jpg

I think it would be useful to begin this article with a brief statement of the facts. Eunice and Owen Johns are an elderly couple from Derby, who fostered a number of children in the 1990s, and who recently offered their services again to Derby City Council. Their offer was rejected on the grounds that, as fundamentalist Christians, they might teach any children in their keeping that homosexual acts were sinful. They took legal action against the Council, arguing that their beliefs should not be held against them. On the 28th February 2011, judgment was given against them in the High Court. The Judges ruled that, where the laws against discrimination are concerned, sexual minorities take precedence over religious believers. Because Mr and Mrs Johns might not remain silent about sexual ethics, there was a danger to the “welfare” of children taken from their homes by the Council.

The Judges insisted that this did not represent a “blanket ban” on the fostering of children by religious believers. There was no issue involved of religious liberty – no precedent being set for wider discrimination by the authorities. It was simply a matter of child welfare. You can read all this for yourself on the BBC website.

I think we can take it as read that the Judges were talking hot air about the nature of the precedent they were setting. There is already a modest but settled ruling class bias in this country against Christianity. This does not extend, so far as I can tell, to Jews and Moslems. But the bias does certainly apply to fundamentalist Christians, especially when it is a matter of what they believe and might say about homosexuality. Yesterday, they were barred from fostering, and perhaps also from adoption. It is only a matter of time before they are barred from teaching. It is conceivable that they will eventually be classed – on account of their beliefs – as unfit parents and will have their children taken away from them. Before that happens, of course, there will be laws against home education, and an inquisition in the schools of what they have been telling their children.

This is my most important observation arising from the case. The issues in themselves are not at all to my taste. I dislike the idea of fostering. There are times, I accept, when people are so violent or negligent that children must be taken away for their own protection. In these few instances, though, I prefer that children should be kept in orphan asylums or offered for adoption. The present system allows immense numbers of children to be snatched away by social workers – often for trivial, and even perhaps for corrupt, reasons – and then put into the temporary care of strangers. I will not deny that many foster parents do as fine a job as circumstances allow. Probably, Mr and Mrs Johns were good foster parents in the 1990s, and would have been again. Even so, those who volunteer as foster parents are giving support to a system that is mostly used to steal children who are in no reasonable danger.

Also, I oppose all anti-discrimination laws. People have rights to life, liberty and property. Deriving from these are the specific rights to freedom of speech and association, and to due process of law. No one has the right not to be hated or despised, or not to be excluded. People have the right to hate or despise anyone they happen to take against, and – so long as they refrain from any breach of the rights mentioned above – the right to put their beliefs into action. While there is good reason for insisting that the authorities should not discriminate, I fell no general sympathy for people who make use of anti-discrimination laws to get their way.

But, this being said, I return to the matter of our ruling class bias against Christians. Why? Why should Christians be so disliked? Why should Christian hoteliers be persecuted for refusing to take in homosexual guests, or refusing to let them occupy double beds? Why should Christians not be protected – given our apparently comprehensive anti-discrimination laws – when forbidden to wear crosses at work? Why should banknotes be printed with pictures on them of Charles Darwin? The facts that Darwin was a great man, and that I think he was right about evolution, are beside the point. For very large number of British citizens, he was a gross blasphemer. Why are the few British colonies that remain being ordered to remove any reference to Christianity from their constitutions? Why do many local authorities keep trying to rename Christmas as Winterval? Why is there so much evidence, both anecdotal and on the record, of an official bias against Christianity?

One answer, I suppose, is the current power of the homosexual lobby. The prejudice against homosexuality that has existed throughout much of European history is blamed – perhaps unjustly – on the Christian Faith. Certainly, Christian leaders were, until very recently, forthright in their condemnation of homosexual acts, and they opposed the legalisation of such acts. There are many homosexual activists on the lookout for historical revenge, and who are making use of every law that now stands in their favour.

But I am not satisfied by this explanation. It is impossible to know how many homosexuals there are – indeed, sexual preference should not be seen as a matter of homosexual or heterosexual, but instead as a spectrum on which most people cluster far from the extremes. But there are not that many embittered homosexual anti-Christians. If they are being listened to at the moment, I do not believe it be because they are powerful in themselves. They are getting a hearing because what they say is what those in power want to hear.

We are moving towards a persecution of Christianity because Christians believe in a source of authority separate from and higher than the State. Until recently, it was the custom of absolute states to make an accommodation with whatever church was largest. In return for being established, the priests would then preach obedience as a religious duty. Modern absolute states, though, are secular. Such were the Jacobin and the Bolshevik tyrannies. Such is our own, as yet, mild tyranny. In all three cases, religion was or is a problem. Though a Catholic, Aquinas speaks for most Christians when he explains the limits of obedience:

“Laws are often unjust…. They may be contrary to the good of mankind… either with regard to their end – as when a ruler imposes laws which are burdensome and are not designed for the common good, but proceed from his own rapacity or vanity; or with regard to their maker – if, for example, a ruler should go beyond his proper powers; or with regard to their form – if, though intended for the common good, their burdens should be inequitably distributed. Such laws come closer to violence than to true law…. They do not, therefore, oblige in conscience, except perhaps for the avoidance of scandal or disorder.” (Summa Theologiae, I-II, 96, 4, my translation)

Certain kinds of bad law do not bind in conscience. And there may be times when even the avoidance of scandal or disorder do not justify obedience. Then, it will be the duty of the Faithful to stand up and say “No!” It will be their duty to disobey regardless of what threats are made against them. Any ruling class that has absolutist ambitions, and is not willing or able to make an accommodation with the religious authorities, will eventually face a wall of resistance. It will eventually go too far, and command things that cannot be given. The French Revolutionaries were taken by surprise. The Bolsheviks knew exactly what they were doing when they hanged all those priests and dynamited those churches. Our own ruling class also knows what it is doing. The politically correct lovefeast it has been preparing for us throughout my life requires the absolute obedience of the governed – absolute obedience to commands that no fundamentalist Christian can regard as lawful. Therefore, the gathering attack on Christianity.

As said, this does not yet apply to the other religions. The Jews are untouchable. Besides, religious Jews are a minority within a minority, and involve themselves in our national life only so far as is needed to separate themselves from it. The Moslems and others are not really considered part of the nation. Otherwise, they are considered objective allies of the new order under construction. Otherwise, no one wants to provoke them to rioting and blowing themselves up in coffee bars. But it goes without saying that they must eventually be persecuted should the Christians ever be humbled.

I think this explains what is happening. Whatever the case, it is wrong. Now, the accepted rule for defending any unpopular group is to begin with a disclaimer – for example: “I am not myself a Christian/homosexual/white nationalist, etc. Indeed, I bow to no man in the horror and disgust these people inspire in my heart.” There are further protestations that depend on the circumstances. But the concluding plea is the same: “It is therefore only out of a possibly misguided commitment to Victorian liberalism that I ask for these people not to suffer the extreme penalties of law. All else aside, it sets an unwise precedent that may be used on day against undoubtedly good people.”

Well, I do not propose to make this sort of defence. I am a Christian of sorts, and I think that even fundamentalist Christianity is a very fine religion. It is the historic faith of my country, and part of my national identity. It is also connected, however loosely, with the growth of civility and the rule of law. I do not like to see it persecuted. And the persecution is wrong in itself. I may not have a clear message to give about the refusal to let two elderly Pentecostalists to become foster parents. But I do object to the creeping delegitimisation of the Christian Faith in England. Any Christian who is willing to stand up and speak in the terms set by Thomas Aquinas gets my support.

But now – and only now – that I have said this, I will talk about precedents. Sooner or later, the present order of things will come to an end. It is based on too many false assumptions about human nature. It is based, indeed, on too many misapprehensions about the natural world. In the short term – even without pointing guns at them – people can be bullied into nodding and smiling at the most ludicrous propositions. In the longer term, bullying always fails. The Bolsheviks had seventy years, and murdered on a scale still hard to conceive. They never produced their New Soviet Man. Except for the worse, they never touched the basic nature of the Russian people. Our own ruling class will fail. What new order will then be established I cannot say. But I suspect it will be broadly Christian.

What we shall then see may not be very liberal. Possibly, homosexual acts will be made criminal again, or everything just short of criminal. I spent my early years as a libertarian denouncing the legal persecution of homosexuals. I have now spent years arguing against persecution by homosexuals. I may sooner or later need to turn round again. As with all collective revenge, the individuals affected will not be those who are now behaving so badly – just as those now persecuted probably did not make any fuss about the 1967 Act that legalised most homosexual acts. But that is the nature of collective revenge. Because the most prominent homosexual leaders have not been satisfied with a mere equality of rights, ordinary homosexuals in the future may find the current precedents used against them.

For the moment, however, England is a country where Christians are fair game for harassment. I do not suppose that the case of Mr and Mrs Johns will be my last reason for commenting on this fact.

http://www.brusselsjournal.com/node/4695

Why are the few British colonies that remain being ordered to remove any reference to Christianity from their constitutions

why Cameron?

Is this the reason he and his Fabian bunch want to re-write our CONSTITUTION?

words from Theodore Dalrymple:

Political correctness is communist propaganda writ small. In my study of communist societies, I came to the conclusion that the purpose of communist propaganda was not to persuade or convince, nor to inform, but to humiliate; and therefore, the less it corresponded to reality the better. When people are forced to remain silent when they are being told the most obvious lies, or even worse when they are forced to repeat the lies themselves, they lose once and for all their sense of probity. To assent to obvious lies is to co-operate with evil, and in some small way to become evil oneself. One’s standing to resist anything is thus eroded, and even destroyed. A society of emasculated liars is easy to control. I think if you examine political correctness, it has the same effect and is intended to.

So how is Stonewall’s thinking and inevitable practice connected to this exclusive and often rather secretive political group that merely describes itself these days as a political “think tank”?

Without mentioning the obvious “New World Order” connections to Stonewall due to its financial donors and board members who have their fingers in numerous big multinationals, there is a clearly identifiable political influence behind the organisation.

It appears Stonewall is a sub-project of a relatively unheard movement known as “Fabians” and their UK based branch “The Fabian Society” – a somewhat secretive, self righteous and almost impenetrable collective now running our country.

In the beginning the Fabians were more about exploring spiritual, rather than political, alternatives to capitalism until a woman called Annie Besant brought Freemasonry to England in 1902 and joined the Fabians tea party. Her involvement massively influenced the Fabians and has shaped the organisation into what they stand for today. Leon Trotsky later
described Fabianism as “an attempt to save capitalism from the working class”.

On hearing the name for the first time you might be forgiven for confusing the Fabians with some eccentric religious cult with Aliens at the heart of their ideology (thats the Raelians) however this group of Capitalist Socialists most people have never heard of represent one of the most powerful circles of people in the country – if not the world.

The facts and figures behind the theory

The Fabians were one of the original founding groups of the original Labour Party in 1900 and despite their obvious connection they still exist as a separate, antonymous body today. Members include Tony Blair, Jack Straw, Stephen Twigg, Peter Mandleson, and the current Prime Minister Gordon Brown. Stonewall’s Ben Summerskill has used his position as Chief Executive of Stonewall to speak at a number of Fabian events all over the world, and his Grandmother, a notable feminist the late Baroness Summerskill was a notable member of this elite group.

For an organisation with less than 6,000 members, the number of highly influential members signed up is unusual to say the least.

One prominent link between the Fabians is Tom Happold – Chair of the Young Fabians between 1996-1997. He is the editor of Guardian Unlimited, previously Deputy Editor of “Comment is free”, of which Ben Summerskill and Julie Bindel are regular contributors to. Controversially, Julie Bindel (a radical feminist known within the LGBT community who opposes the rights of transsexuals) has been nominated for a Stonewall Award along with countless Fabian members and people with connections to the Fabian Society. Fabians take their name from the Roman General Quintus Fabius Maximus Verrucosus famous for keeping his enemies at bay not by fighting but by wearing down his army with “delaying tactics, endless maneuvering, and avoiding confrontation wherever possible”. Additionally Fabians believe in “gradual incremental change rather than revolutionary change” – is this sounding familiar?

The truth about Stonewall’s name…
Fabian Gordon Brown ….

Gay American History: Lesbians and Gay Men in the U.S.A” in which he talks about Cleburne’s sexuality.


During Pride London 2008 a select number of Stonewall UK staff called in at 10 Downing Street to meet Prime Minister Gordon Brown.

gay mafia watch!

http://gaymafiawatch.wordpress.com/?s=fabians


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