North Dakota Sen. Kent Conrad mounts campaign to defend bank bailout, stimulus
At a time when many lawmakers are running away from the hated 2008 bank bailout, Sen. Kent Conrad is holding it close – and waging a one-man campaign to rehabilitate the program in the eyes of angry voters.

Jones chronicles the history of the global elite’s bloody rise to power and reveals how they have funded dictators and financed the bloodiest wars, creating order out of chaos to pave the way for the first true world empire. Play List www.youtube.com

Right now the country is 75% caucasian and they make up most of Republican party. By 2050 there will be more minorities and they will be in the majority. At this time Republicans will be the minority, how will that change the party and the ways they get elected.
Sorry, I can admit it is possibe that more minorities may become republicans, although it seem improbable right now.

Democrats hope to retain control in Dallas County
Four years ago, just days before the midterm elections in Dallas County, few figured that the results would show anything but a typical Republican victory.

Shondra Wygal introduces Chelsea Clinton to the 2008 Democratic Party Convention in Texas.

Obama asks voters to stand by him
The president urges voters to support politicians who made difficult votes on health care and stimulus.

Do you see a warning light flashing? Americans with high net worth and high incomes are preparing for the likelihood of higher taxes in 2011 and subsequent years. High earners are almost certainly going to take the hit if the EGTRRA and JGTRRA cuts fade away at the end of 2010. Here’s a summary of what’s happening – and a look at what might happen. There are some developments you will want to remember, and some tax breaks you might very well want to exploit.

No phaseouts on itemized deductions and personal exemptions in 2010. This may provide you with an opportunity for some notable tax savings. Historically, high-income taxpayers have been subject to a reduction in the value of itemized deductions and personal exemptions. That has gradually decreased in this decade. In 2010, the phaseouts are gone entirely. In 2011, they are poised to return. 1

As IRS standard deduction and personal exemption amounts are indexed to inflation, you’ll see very little change there for 2010. The standard deduction for heads of household will rise by $50 to $8,400 for the 2010 tax year. Other standard deductions will stay put, and the personal exemption amount will remain at $3,650 for 2010. 1

Lower long-term capital gains rates through 2010. Unless Congress decides to extend these Bush-era cuts, capital gains tax rates will revert to pre-2003 levels in 2011. For 2010, the long-term capital gains rate for those in the 10% and 15% tax brackets is 0%. In 2011, it is set to go to 10%. If you fall into the 25%, 28%, 33% or 35% tax brackets, the capital gains rate is 15% in 2010 and 20% in 2011. 2

The Tax Extenders Act of 2009. The House passed this legislation on December 9, and the Senate is likely to follow suit. The final version of this bill would likely extend the additional standard deduction for real property taxes, the deduction for state and local sales tax, and deductions for tuition/education expenses and teachers’ classroom expenses into 2010. 3

The estate tax. 0% estate taxes in 2010? That was the plan … but the reality is that estate taxes are likely to remain at current levels in 2010 with some retroactive lawmaking. In early December, the House voted to restore the estate tax for 2010; a week later, the Senate voted against temporarily extending 2009 estate tax levels into the coming year. The Senate will almost certainly take up the issue again in January. However, to prevent a complete repeal of the estate tax next year, any new legislation is expected to contain a retroactive provision. So instead of taking effect upon passage, any new estate tax law would likely be made retroactive to January 1, 2010. 4

The AMT. You know how it works – Congress comes up with another AMT patch at the stroke of midnight and middle-class taxpayers are saved once more. Well, just to make things interesting, the Tax Extenders Act of 2009 doesn’t include an AMT patch for 2010. Many tax professionals think the 2010 patch issue will be addressed early next year, with the patch for the 2010 tax year made retroactive. 5

How will marginal tax rates rise in 2011? Does anyone think taxes won’t increase in the near future? At present, the marginal tax rates are 10%, 15%, 25%, 28%, 33% and 35%. If Congress doesn’t act by the end of 2010, the tax brackets will reset to 15%, 28%, 31%, 36% and 39. 6%. By the way, President Obama and some Democrats have proposed future tax brackets of 10%, 15%, 25%, 28%, 36% and 39. 6% for 2011 (that is, only the highest two brackets would revert to pre-EGGTRA levels). 3

A healthcare surtax? If the healthcare reforms pass in 2010, taxpayers in the highest brackets might pay even more to the IRS. For example, the legislation that the House passed would require couples with MAGI of $1,000,000 or more or individuals with MAGI of $500,000 or more to pay an additional 5. 4% surtax. 3

And finally, a dilemma for Congress. Congress would like to extend the Bush-era tax cuts further to protect lower-income and middle-income taxpayers. However, some analysts say it would cost the federal government more than $1 trillion over the next decade to do so. 3

Have you talked to your financial or tax advisor lately? If you have, good for you. If you haven’t, do so now. Prepare for change, and plan to take advantage of extended and potentially expiring tax breaks.

This material was prepared by Peter Montoya Inc, and does not necessarily represent the views of John Jastremski, Jeremy Keating, Erik J Larsen, Frank Esposito, Patrick Ray, Robert Welsch, Michael Reese, Philip Catalan, Brent Wolf, Andy Starostecki and The Retirement Group or QA3 Financial Corp. This information should not be construed as investment advice. Neither the named Representatives nor Broker/Dealer gives tax or legal advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. The publisher is not engaged in rendering legal, accounting or other professional services. If other expert assistance is needed, the reader is advised to engage the services of a competent professional. Please consult your Financial Advisor for further information or call 800-900-5867.

The Retirement Group is not affiliated with nor endorsed by fidelity. com, netbenefits. fidelity. com,  hewitt. com, resources. hewitt. com,  access. att. com, AT&T, Qwest, Chevron, Hughes, Northrop Grumman, Raytheon, ExxonMobil, Glaxosmithkline, Merck, Pfizer, Verizon or by your employer. We are an independent financial advisory group that specializes in transition planning and lump sum distribution. Please call our office at 800-900-5867 if you have additional questions or need help in the retirement planning process.

Find more Information here: http://www. theretirementgroup. com/new/retiregroup2/content. asp?contentid=2016566134

Citations.

1 webcpa. com/news/CCH-Sees-Little-Help-from-2010-Tax-Inflation-Adjustments-51737-1. html [9/17/09]

2 usatoday. com/money/perfi/taxes/2007-06-15-mym-capital-gains_N. htm [6/15/07]

3 fa-mag. com/fa-news/4914-higher-tax-rates-ahead-so-make-the-most-of-2010. html [12/17/09]

4 marketwatch. com/story/story/print?guid=8639F258-5FD1-467F-AE47-3D5BD4572CB6 [12/18/09]

5 tax. cchgroup. com/Legislation/2009-Tax-Extenders-Act. pdf [12/10/09]

The Daniel E. Garrett Memorial Booklet, 1933, contain four suede-covered vellum copies of the “Resolution / Adopted January 10, 1933 / by / the Board of Directors / of / the National Bank of Commerce / in Memory of / Honorable Daniel E. Garrett / Born April 28, 1969 / Died December 13, 1932″. Daniel Edward Garrett (1869-1932), teacher, lawyer, and Democratic congressman, was born in Springfield, Tennessee, to Edward C. and Susan Olive (Haddox) Garrett. After teaching while studying law, he opened a legal practice in his home town in 1893. Garrett earned a seat in the Tennessee House of Representatives (1892-1896) and in the Tennessee Senate (1902-1906). He moved to Houston, Texas, in 1906 and served as Texas congressman-at-large in the US House of Representatives (1913-1915; 1917-1919). During his terms as the 8th District’s congressman (1921-1932), Garrett was a member of the Military Affairs Committee and secured the establishment of Camp Logan and Ellington Air Force Base. In 1893 Garrett married Ida Jones, sister of politician Jesse H. Jones and businessman John T. Jones. Hurt Garrett was a cashier for the National Bank of Commerce (later Texas Commerce Bank and now part of JPMorgan Chase), for which John and Jesse Jones served as board members. Sources: Daniel E. Garrett Memorial Booklets, 1933, Dolph Briscoe Center for American History, University of Texas at Austin. Handbook of Texas Online, sv “Garrett, Daniel Edward,”www.tshaonline.org (accessed June 16, 2010 …

University of California $1,591,395
Goldman Sachs $994,795
Harvard University $854,747
Microsoft Corp $833,617
Google Inc $803,436
Citigroup Inc $701,290
JPMorgan Chase & Co $695,132
Time Warner $590,084
Sidley Austin LLP $588,598
Stanford University $586,557
National Amusements Inc $551,683
UBS AG $543,219
Wilmerhale Llp $542,618
Skadden, Arps et al $530,839
IBM Corp $528,822
Columbia University $528,302
Morgan Stanley $514,881
General Electric $499,130
US Government $494,820
Latham & Watkins $493,835

This table lists the top donors to this candidate in the 2008 election cycle. The organizations themselves did not donate , rather the money came from the organization’s PAC, its individual members or employees or owners, and those individuals’ immediate families. Organization totals include subsidiaries and affiliates.

Because of contribution limits, organizations that bundle together many individual contributions are often among the top donors to presidential candidates. These contributions can come from the organization’s members or employees (and their families). The organization may support one candidate, or hedge its bets by supporting multiple candidates. Groups with national networks of donors – like EMILY’s List and Club for Growth – make for particularly big bundlers.

http://www.opensecrets.org/pres08/contrib.php?cycle=2008&cid=N00009638

Obama rallies for a loyalist as final dash begins
Bracing for an election beatdown, a defiant President Barack Obama campaigned for an endangered Democrat in Virginia on Friday and tried to rally his party nationwide ahead of Tuesday’s elections. Shadowing it all: fresh…