'$250,000 statistic is significant in rebutting Obama administration claims: It is the number President Obama has used repeatedly since 2008 to define "middle class."''
Saving Medicare for the middle-class----what percentage of Americans are going to earn $150,000 to $500,000 because that is the middle-class for whom Obama works. Less than 10% of Americans. These of course are the people coming to the polls to vote Clinton neo-liberals in every election. Remember, the Living Wage has a family of four at poverty line earning $78,000 a year. America is fast becoming a nation of 70% and higher at poverty and now the safety net programs are being dismantled which deepens the poverty----this is how you take a first world nation third world.
Today we will look at the Maryland Assembly Appropriations Committee meeting from yesterday and below you see the Bills before this committee. Maggie McIntosh was placed as head of Appropriations right now for a reason----we are heading for an economic crash and money will have to move behind closed doors and the Johns Hopkins' method of doing what you want with money will apply.
The Bills below were 'late filed' which means the pols missed the early legislative process for bills and are trying to get them Fast-Tracked late in the session. No doubt there is reason for doing this at times. We see that many of them are school building bond bills. Look below this list of bills to see THE BOND CRASH IS COMING AND MAJOR NEWS JOURNALS ARE SHOUTING THIS. So, perhaps Larry Hogan spurred the sudden interest around Maryland with his desire to open Maryland to national charter chains----you know, to make education better! The level of bond leverage in this 2015 session was huge and done with everyone knowing the bond market is crashing. Remember subprime mortgage fraud and how Maryland Assembly and Baltimore City Hall threw subprime mortgage loans into overdrive as the economic crash was to occur? This is the same thing and the defaults will bring huge losses to the public and government will be mortgaged with these debt deals and corporate tax breaks for decades. OF COURSE NONE OF THIS IS LEGAL AND CAN BE REVERSED AS CONTRACTS FILLED WITH MALFEASANCE CANNOT HOLD. It's the level of malfeasance that requires no ability for anyone to talk openly about this process. That's why you will see Cindy Walsh in front of Committees trying to testify being told I didn't sign up to testify. I am now recording myself signing these Maryland Assembly witness boards. Not a word was said as these bills were entered and moved through with no discussion.
Bills 110, 1182, 1193 are all school building bond bills.
BILL HEARINGS - 1:00 P.M.
HB 110 The Spkr Creation of a State Debt - Qualified Zone Academy (Admin) Bonds
HB 1105 Del Zucker, et Disabled Individuals - Maryland ABLE Program - al Established
HB 1136 Del Shoemaker, Higher Education - Military Dependents - In-State et al Tuition
HB 1182 Chr APP (Dept) Academic Facilities Bonding Authority
HB 1193 Del Hixson, et Supplemental Public School Construction Matching al Fund Program
HB 1211 Del Korman, et State Budget - Board of Public Works - Notice of al Reductions in Appropriations
Bond Binge Pushing Leverage Toward Financial Crisis Peak
by Charles Mead 11:56 AM EDT
August 28, 2013 Bloomberg Financials
A Bond Market Collapse Is Imminent As Junk-bond ETF Short-interest Soars And Mutual Fund Giants Began Turning Down People Hoping To Invest In Funds That Buy Junk Bonds
Submitted by IWB, on December 2nd, 2012
Read more at http://investmentwatchblog.com
I touched on the next issue but the Maryland Assembly is moving to make it official----Disability Protections are going, going, going.......and we have HB 1105 ABLE doing just that. Remember, Obama is dismantling Medicare, Medicaid, and Social Security with SS Disability almost bankrupt from the subpriming of Disability with low-income people simply needing jobs allowed to hit the disability rolls. Historically, people with REAL disabilities had access to the same level of health care as Medicare----it was decent coverage and was augmented by War on Poverty Disability funding. Well, Obama has defunded War on Poverty and along with that Disability to replace the massive looting of our US Treasury of tens of trillions of dollars in corporate fraud. At the same time he started these private 'savings' programs like myRA to replace Federal Social Security and a similar private program for people with disabilities. All of this is Republican policy for ending social programs but it took a politician running as a progressive Democrat to end all of the social safety net programs. That's because he is not a Democrat-----Obama is a Clinton neo-liberal.
So, Maryland's global corporate pols are doing the same at the state level. Heather Mizeur, the Clinton neo-liberal chosen to run as a progressive actually placed the state version of myRA into her platform.
WE HAVE TO GET THOSE LOW-INCOME AND DISABLED PEOPLE SAVING MONEY TO SUPPORT THEMSELVES NOW THAT THE SOCIAL SAFETY NETS ARE BEING DISMANTLED!
Democrats don't say this folks----they shout STOP DISMANTLING OUR SOCIAL SAFETY NETS. See why McIntosh did not want anyone able to actually explain what the ABLE program is about? Below you see more and more disabled are being pushed to these private Medicare Advantage Plans that when Federal Medicare is dismantled----will no longer carry anyone not able to pay the rising costs of private health care insurance. THAT'S THE AFFORDABLE CARE ACT FOR YOU!
More than 16 million elderly or disabled people are enrolled in these plans with insurers including UnitedHealth Group Inc, Humana Inc and Aetna Inc.
Read more: http://www.businessinsider.com/r-us-announces-proposed-payments-for-2016-medicare-advantage-plans-2015-2#ixzz3UvWkKHlB
Maryland's ABLE places the responsibility on the family of the disabled for their care and all the family gets in lieu of a Federal Disability programs tied to Social Security is a tax break for saving money. As the bill states-----this disability fund is tied to the college saving fund since low-income families will no longer be receiving college financial aid that is not job training. So, Maryland Assembly pols are all about ending all social safety net programs and education programs that help the middle/working class and poor...... BUT CORPORATE SUBSIDY AND ZERO TAXES HAS CORPORATE PROFITS SOARING!
This is what Baltimore City pols do in the Maryland Assembly as they push all of these Johns Hopkins public policies ending Equal Protection, War on Poverty, and New Deal Programs-----
UP WITH WEALTH INEQUITY SAYS BALTIMORE CITY NEO-CONSERVATIVES RUNNING AS DEMOCRATS! YOU CANNOT HAVE A GOOD THIRD WORLD NATION WITHOUT THE MASSES BEING KEPT DESPERATE AND DYING YOUNG!
Disabled Individuals–Maryland ABLE Program –Established2FOR the purpose of requiring the College Savings Plans of Maryland Board to establish the 3Maryland ABLE Programfor certain purposessubject to certain provisions
As you see the Democratic Senate moved this bill through just months ago and that is why Maryland is following. Republicans say this is justice for the disabled as they now get a tax-free way to save money LIKE THE POOR HAVE MONEY TO SAVE. Nowhere does either of these articles tell you all this is being done because Federal Social Security Disability is being allowed to be subprimed with fraud. Southern states like Maryland have used SSI for funds to replace Welfare putting people to work doing public sector work on the back of Social Security Trusts. All of that money saved actually using public funds for Baltimore City public work was moved to Baltimore Development and Johns Hopkins----global empire-building you know aways helped by raiding Social Security disability.
Tax-Free Disability Savings Bill Headed To Obama
By Michelle Diament December 17, 2014 Text Size A A
With final approval from Congress, a bill that would establish a new way for people with disabilities to save money is headed to President Barack Obama. (Ellen Creager/Detroit Free Press/TNS)
The U.S. Senate has voted overwhelmingly to send legislation to the president establishing a new way for people with disabilities to save money without risking their government benefits.
Lawmakers voted 76 to 16 to approve the bill as part of a package of tax measures Tuesday evening. The legislation will now go to President Barack Obama to sign.
Originally known as the Achieving a Better Life Experience, or ABLE, Act, the legislation which has been under consideration since 2006 was recently renamed the Stephen Beck, Jr. Achieving a Better Life Experience Act of 2014. A longtime proponent of the bill, Beck died unexpectedly earlier this month.
The ABLE Act would allow people with disabilities to establish special accounts where they could save money to pay for education, health care, transportation, housing and other expenses. Individuals could deposit up to $14,000 annually under current gift-tax limitations and accrue as much as $100,000 without risking eligibility for Social Security and other government programs.
Meanwhile, the bill ensures that people with disabilities can retain Medicaid coverage no matter how much money is saved in their ABLE account.
“This landmark legislation puts a stake in the ground that people with disabilities, for the first time ever, can work and save money for the future,” said Sara Weir, interim president of the National Down Syndrome Society.
The accounts are modeled after 529 college savings plans and interest earned on savings would be tax-free.
The bill does include some limitations, however. Each person may only have one ABLE account and to qualify a person must have a condition that occurred before the age of 26.
“It’s utterly unacceptable that our current laws doom a child born with a disability to a lifetime of poverty and dependence,” said Sen. Richard Burr, R-N.C., one of the measure’s chief sponsors. “The ABLE Act will take the first critical step in ending this injustice.”
These ABLE disability accounts simply move what was a public trust supposedly protected from the Wall Street Stock Market and throw that money in the investment pot to be used as fodder just as pension and 401Ks are. Lost 1/2 the value of your pension last economic crash from massive corporate fraud? Well, so did these 529 Plans for student tuition and now disability savings accounts. So, right after the crash parents wanting to send their children to college could not because all of the money in these 529s were lost.
OH, BUT WE NOW HAVE THAT MONEY BACK YOU SAY-----WE ARE HEADING FOR A BIGGER CRASH IN JUST MONTHS!
So, these plans have nothing to do with saving money----they are simply ending our public trusts and exposing yet more of our personal wealth to Wall Street criminality.
SEE WHY THEY DID NOT WANT ANYONE TESTIFYING AT THIS APPROPRIATION COMMITTEE MEETING? WE DON'T WANT ANYONE TO KNOW!
529 Plans in the Post Crash Era Crash Era
Financial Aid Finder We talked a few weeks ago about how the stock market crash is going to affect college savings plans. I mentioned that those of you with plans to attend school in the next year might be feeling a real pinch. Before you completely panic, I decided to take a look at what the experts are saying about 529 Plans – both for those of you who are in school, or about to start, and for those parents who are wondering whether they should still invest for their children’s future.
Quick Reminder: What is a 529 Plan?
There are two different kinds of 529 Plans: college savings plans and prepaid tuition plans. Prepaid plans let you buy tuition credits at today’s prices and guarantee them for the future. In today’s market, this might seem like a safer bet, but keep in mind that prepaid plans limit a student’s options in terms of what school they will attend.
A college savings plan is a managed investment portfolio, where your money is invested in some savings vehicle, usually mutual funds of stocks or bonds. The risk is greater than with a prepaid plan, since you are not guaranteed a rate of return (in this case, X number of tuition credits). But, if your college savings plan does well, you can earn a lot more in interest than with the prepaid plan.
In addition to the benefit of saving for college, both types of 529 Plans offer added tax incentives. The money saved in a 529 Plan earns interest tax-free; and when the funds are used for an approved education expense (this is generally broadly defined), the withdrawal is also tax free.
How has the stock market crash affected college savings plans?
According to this article, 529 Plans have declined in value 9 percent since last quarter – even taking into account new investments. And that was before the bottom fell out of Wall Street.
It stands to reason, though, that aggressively invested 529 Plans will be seeing similar losses to the rest of the Dow Jones. Since its record high one year ago on October 9, the Dow Jones has lost over 40 percent of its value.
Keep in mind, however, that most 529 Plans are set to become increasingly conservative as your child gets closer and closer to college age. Which means, if you child is about to start school next fall, your plan may have already converted to a majority bond position – and therefore have been spared most of the axe. Definitely check your plan’s quarterly statement, if you haven’t already.
For those of you with more aggressive funds, the precipitous drop has undoubtedly cut your earnings (and likely your principle) dramatically. The good news, though, is that (1) you still probably have time to recover and (2) your tax savings are still accruing.
What if I had a 100% Equity Plan and my child is about to start school?
Well, then, unfortunately, you are probably feeling substantial pain since your plan is not worth as much as you had counted on. Your family may have to take out more college student loans that you planned – or make alternative arrangements (like considering a less expensive state school, or two-year community college). Many parents of incoming freshmen are opting to leave their funds untouched for the next year or two, hoping the fund will bounce back in time for junior and senior year. In the meantime, they are taking out loans or using other means to cover the costs of tuition, room and board.