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Bill’s By The Number$

Posted by: Kim Vo | Posted on: September 12th, 2016 | 0 Comments

1. HIGH AND LOW – 45% of the tax returns filed in tax year 2014 reported adjusted gross income (AGI) less than $30,000. 4% of the tax returns filed reported AGI of at least $200,000 (source: Internal Revenue Service).

2. SOME PAID, SOME DID NOT – Americans filed 148.6 million tax returns in tax year 2014. 65% of the returns (96.5 million) paid federal income tax while 35% of the returns (52.1 million) did not pay any federal income tax (source: Internal Revenue Service).

3. DOLLARS IN, DOLLARS OUT – Chicago has more retired policemen and survivors of policemen than they have active police officers. As of 12/31/15, Chicago had 12,061 working policemen but had 12,528 retired officers and survivors of deceased officers (source: Policemen’s Annuity and Benefit Fund of Chicago).

4. OUT OF BUSINESS – Lehman Brothers, a 158-year old company, was forced to file for bankruptcy protection on 9/15/08 (8 years ago) when no “white knight” emerged to rescue the company from its substantial investment in subprime mortgages. It was (and still is) the largest US bankruptcy ever. Since Lehman Brothers’ 2008 filing, central banks around the world have cut interest rates 670 times (source: JPMorgan).

5. AFFORDABLE HEALTH CARE COVERAGE – 12.7 million Americans enrolled through their state health insurance marketplace or through the federal health insurance marketplace during the 2016 enrollment period, i.e., the 3 months of 11/01/15 through 1/31/16. As of 6/30/16, 11.1 million (of the 12.7 million) were current with their monthly health insurance premium payments. Of the 11.1 million with active insurance coverage, 9.4 million are receiving a tax credit that averages $291 per month (source: Health and Human Services).

6. A SINGLE PERCENT – Total foreign aid spending by the USA in fiscal year 2016 (i.e., the 12 months that will end 9/30/16) is projected to be $38.8 billion or 1% of our government’s projected spending of $3.951 trillion that is forecasted for the fiscal year that ends in less than 3 weeks (source: Office of Management and Budget).

7. LUMP-SUM NEEDED – A present value (PV) amount of $179,000 is required to fund a $1,000 per month payment for 20 years with a 3% annual increase for maintenance of purchasing power assuming that a +6% annual rate of return is maintained into the future. The PV amount is $237,000 if the required payment period is 30 years. The calculations ignore the impact of taxes and are for illustrative purposes only and are not intended to reflect any specific investment alternative (source: BTN Research).

8. WELCOME TO AMERICA – The United States will admit up to 85,000 refugees into our country during fiscal year 2016 (source: Immigration and Nationality Act, Section 207).

9. AGING POPULATION – 9 of the 12 fastest growing occupations expected in the upcoming decade are in the health care industry, including occupational therapists, physical therapists, home health aides, audiologists and nurse practitioners (source: Department of Labor).

10. SKILLS SHORTAGE? – The 5.871 million job openings nationwide as of 7/31/16 were the largest number ever reported by the government for a statistic tracked since December 2000. Just 3 years ago (7/31/13) there were just 3.689 million job openings in the country (source: DOL).

11. ON YOUR OWN – More than 1 in 3 employed Americans (36%) work for companies that do not offer an employer-sponsored retirement plan, a total of 55 million workers lacking access to a plan (source: AARP, DOL).

12. JUST TRYING TO HELP – 8 American states (California, Connecticut, Illinois, Maryland, Massachusetts, New Jersey, Oregon and Washington) have passed legislation that created state-sponsored retirement plans for private sector workers. Another 20 states are considering legislation that would enact a similar plan (source: Pension Rights Center).

13. HE SAID NO – President Barack Obama has vetoed just 10 bills since taking office more than 7 ½ years ago. The 10 vetoes, none of which have been overridden, are the fewest by any president since Warren Harding (1921-23). President Ronald Reagan vetoed 78 bills during his 8 years in office (source: Senate).

14. WHEN IS YOUR BIRTHDAY? – With just 46 people in a room, there is a 95% chance that 2 people in the group have the same birthday (source: BTN Research).

15. PRIME TIME – Deion Sanders is the only athlete to have competed in both MLB’s World Series and the NFL’s Super Bowl. Sanders played in the 1992 World Series with the Atlanta Braves and in Super Bowl # 29 (played on 1/29/95) with the San Francisco 49ers (source: BTN Research).

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