It’s probable that “tens of millions” of taxpayers have paid this sort of penalties and interest during the three and a half years that the disaster declaration was in force. You can check your returns from the years in question, or request a “tax account transcript” from the IRS, to see whether you are among those impacted.
Non-partisan researchers at the RAND Corporation have published studies on the consequences of the last 50 years of rising economic inequality. We summarize the research here.
Over the weekend and early on Monday, we received a flurry of messages from our clients – “What’s happening? Should we do something?” Briefly: While we certainly recognize and understand the concerns about what’s going on, we think it wise to exercise caution with respect to our clients’ portfolios right now.
While there is abundant cause for concern in the current political and social situation, our approach has always been to look beyond the current circumstances, and to construct prudent portfolios that can survive most short-term stresses. Briefly, we believe that Trump’s cruel chaos does not create a need to make big changes to your investments at this time.
Last week, our friends at the sustainability-oriented non-profit Ceres announced a new initiative — “Freedom to Invest” — to push back against the anti-ESG movement. On behalf of Horizons, and all of our clients, I gladly signed on.
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