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As If We Don’t Pay Enough in Taxes Already…

By JLP | October 27, 2013

A Black Box in Your Car? Some See a Source of Tax Revenue

Charging drivers by the mile.

Anyone who lives outside of New York City or any other big metropolitan area, will not like this idea.

I loathe any idea that adds a new way to tax people. Why? Because the old taxes rarely get done away with. There is a gasoline tax already. There are also lots of toll roads that charge by distance driven. WE DON’T NEED ANOTHER WAY FOR GOVERNMENTS TO GET MORE TAXES.

The above article mentions that this is necessary because the roads are in need of repairs. Wasn’t TARP supposed to be for roads? We have zero accountability in how the government spends the money it receives.

Topics: Politics, Taxes | 4 Comments »

Take This Spelling Test…

By JLP | October 23, 2013

I found this link to this spelling quiz on facebook. I took the quiz last night and scored a whopping 78%.

The 25 Most Commonly Misspelled Words

Take it and if you aren’t too embarrassed, post your results in the comments.

NO CHEATING!!!!

Topics: Miscellaneous | 5 Comments »

WSJ Opinion: How Government is Making Solar Billionaires

By JLP | October 22, 2013

From today’s WSJ (How Government is Making Solar Billionaires):

Welcome to SolarCity, SCTY -0.59% the latest booming green company that has never recorded a profit. The startup’s stock price has soared by 600% since its IPO last December—it closed on Monday at $57 a share—and spiked after the company announced a couple of weeks ago that it expects business to grow by 70% to 90% next year. Yet the company, based in San Mateo, Calif., and specializing in deploying rooftop panels, ended the first six months this year $61 million in the red.

Ordinarily, that sort of number might disconcert investors. But SolarCity’s business model is powered by government subsidies, which also fueled the 500% stock run-up and turn to profit this year of the electric-car maker Tesla. Steering both companies is Elon Musk.

In addition to being the chairman of SolarCity and CEO of Tesla, Mr. Musk is the largest shareholder in both companies. The increase in their stock prices has raised his net worth by more than $5 billion over the past year.

Isn’t that lovely?

Yes, I am aware that the government also helps other industries. The point is the government really should get out of all business creation and promotion. The government should not be deciding who is or is not successful. If your idea cannot succeed in the market place on its own, then you need a different idea. Mr. Musk has the U.S. taxpayers to thank for his wealth.

Discuss among yourselves while I go paint the master bedroom…

PS – If you can’t read the link, email me (JLP – at – AllFinancialMatters.com) and I’ll get you a copy.

Topics: Economics, Politics | 9 Comments »

Update on What’s Going on in JLP Land

By JLP | October 22, 2013

We found out a couple of months ago that we are going to be moving. With a senior in high school and another right behind him, the timing is horrible. My wife didn’t feel like she could turn this job down. We managed to stay in the same house for 14 years.

Our house wasn’t ready to go on the market, so I’ve been spending a lot of time getting it ready to sell. Combine remodeling with taking care of kids and all the other household stuff, and it leaves little time for AFM.

Anyway, AFM’s not going away. I’m just too busy to even think about blogging. I have come across great material recently but haven’t had the time to post about it. I do have one post in the works that will blow your mind (at least I think it will).

Take care and please remember my family and me in your prayers.

Topics: Announcements | 4 Comments »

An iMessage Fix

By JLP | October 7, 2013

If you have an iPhone or iPad running iOS7, chances are pretty good that you have had an issue with iMessage. I and my son were having issues with it. I would type a message, hit send, the blue send notification bar would get almost to the end and stop and just sit there. Very annoying.

Anyway, my son found a fix that has worked for both of us.

Go to…

Settings > Messages
• Turn off iMessage
• Wait a few seconds and turn iMessage back on
• Do a power cycle of your iPhone by holding down the home button and the button at the top right corner of the phone down at the same time until the Apple icon pops up on the screen.
• Once your phone is powered back up, it should work.

Topics: Miscellaneous | No Comments »

Anyone Following This CFP Mess?

By JLP | September 24, 2013

I’m not a CFP, but I have been following what’s going on with the CFP Board and their members who use “fee-only” as their compensation method.

Apparently, the board removed “fee-only” from all members’ profiles after it was reported that certain individuals were calling themselves “fee-only” when they were not.

Now people are claiming that the “fee-only” rule was too vague.

Hogwash.

It’s pretty simple, really. If you are “fee-only,” you are FEE-ONLY! Meaning, your fees are paid directly by the client. That’s it. If you get paid by a third party (other than portfolio management fees through Schwab or Fidelity), then you are not fee-only.

It doesn’t surprise me that stock brokers would move to call themselves “fee-only.” The compensation method is gaining in popularity as the public becomes more aware. I’m sure brokers are losing business to “fee-only” planners. What better way to combat the loss of clients than to simply call yourself a “fee-only” planner?

It’s sad and it only confuses clients.

So, the CFP Board should inspect their licensee’s compensation method and fine or revoke the licenses of those who are lying. Pretty simple if you ask me.

Topics: Financial Planning | 1 Comment »

Get Ready for Your Energy Bills to Skyrocket

By JLP | September 12, 2013

From today’s WSJ:

The Obama administration plans to block the construction of new coal-fired power plants unless they are built with novel and expensive technology to capture greenhouse-gas emissions, according to people familiar with a draft proposal.

Further…

The person and others briefed on the rule said such stringent limits would ban new coal plants, which generally release about twice as much carbon dioxide as the proposed limits. Even the newest, most advanced coal-fired power plants in the world would fall far short of that revised standard, they said.

Someone stands to make a lot of money installing all this new technology. That’s what this is really about. It’s not about the environment.

The American people should be allowed to vote on things like this. There should be a rigorous objective study done that will show how much these proposed changes will add to our monthly electric bills. Then, we should vote on the bill. Better yet, it should be a STATE ISSUE!

Have a great day, everyone.

Topics: Budgeting, Politics | 8 Comments »

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