The Facts about the Tax Bill

Please don't call it an overhaul because it is NOT. Please don't call it a tax cut because, in the long run, we will all pay higher taxes and receive fewer public services. It's a tax cut for corporations, not individuals. Ge the facts from the Associate Press:

AP FACT CHECK: Trump’s truth-warp on taxes; Dems drift, too

By CHRISTOPHER RUGABER and CALVIN WOODWARD

"You wouldn’t know it from President Donald Trump’s rhetoric, but the tax overhaul coming into effect is heavily tilted to the rich. It also leaves “Obamacare” in place, despite his assertion that the tax plan repeals the health care law. Nothing about the plan provides the fuel to achieve economic growth at the levels he’s predicted." Get the details at: https://apnews.com/c59140758e824054a9c26c1eb5b02e5e

Republican tax bill will reduce access to small business 401(k) plans

In addition to all the other negative effects of the proposed Republican party’s proposed tax changes, the bill will discourage small employers from offering 401(k) plans because employers would save on taxes by dropping employee plans. According to the American Retirement Association about 24 million workers could lose 401(k) access as a result of the proposed tax bill. Just one more example of how the Republican tax bill hurts middle class workers. 

Source: https://www.fa-mag.com/news/gop-tax-reform-will-cause-small-business-owners-to-drop-retirement-plans--ara-says-36083.html?section=88

 

Fiduciary Rule Delayed by Trump Administration

The Labor Department said an 18-month postponement of enforcement of several key provisions of the fiduciary rule has become official. The effective date of the best-interest contract exemption and related exemptions has been changed from Jan. 1, 2018, to July 1, 2019.
Financial "advisors" can continue to put their own financial interests ahead of their clients thanks to the pro-business, anti-consumer Trump administration.Financial salespersons can continue to recommend investments that line their pockets and put their own interests ahead of their clients.
Why should advisors put their clients best interests ahead of their own? Just one more anti-consumer action from the current powers.
Have you asked your "advisor" yet whether he is a fiduciary? If not, it's long past time.