Nukkad

[Mort Walker]

For those in Khanland.

The IRS has increased employee 401K limit to $18,500/yr for 2018. An increase of $500. However, the over 50 age additional contribution still remains at $6,000/yr.


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Limit is increased for 457B also (for govt employees). Some may be able to contribute to both. But Trumps Tax plan MAY reduce the limits even though it may keep both the plans.

Not Trump, but House Republicans wanting to tax 401(K)s. Trump specifically Tweeted on Monday saying NO change to 401K.


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[saip]

If the tax plan is passed Trump will own it (like Ombaba care). If they tax 401k now they have to allow tax free withdrawals (like Roth Ira), basically kicking the problem to future generations. That also means it will become non-deductible which may not go well with Trump.. Considering that not many people can fully take advantage of the 18,500 deduction they make keep it deductible and lower the limit.

[Mort Walker]

If the tax plan is passed Trump will own it (like Ombaba care). If they tax 401k now they have to allow tax free withdrawals (like Roth Ira), basically kicking the problem to future generations. That also means it will become non-deductible which may not go well with Trump.. Considering that not many people can fully take advantage of the 18,500 deduction they make keep it deductible and lower the limit.

The Roth IRA doesn’t reduce your AGI like a 401k, so your contributions are constrained by your tax bill for people who earn $100K-$150K per year. You don’t get taxed when you withdraw, but since your principle was lower, your return on investment will be lower. More than 1/3 of those between $100-$150K /yr have been contributing the max into their 401K to lower their tax bill as it easily puts them in a lower bracket. Good KBs contribution matches 5% of pay. It is the primary retirement savings since Social Security is a mess and pensions don’t exist in most KBs.

Throw in removal of state and local tax deductions. This is going to be a massive tax increase on middle class professionals. My guess is that it won’t pass the senate.


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[saip]

I agree. I live in CA which has high state tax. If that deduction is gone my tax bill will go up. When Trump was screaming about repealing Ombaba care I thought I will not have to pay Obama tax. But tax is still there. As I see it unless you are in the top 1% your taxes will go up.

[Singha]

no matter what the tax climate, CA has the jobs, lifestyle and climate to keep attracting hordes of people to its coast. being a semi desert and high sierra the only limiting factor is continued ability to steal water from colorado and nevada.

without water & lots of fertilizer it would never have become a agrarian powerhouse in central valley, whose soil is pathetic vs our loamy silt laden river valleys.

[Marten]

I, a child of the Maha Sapta Sindhu, should rightfully be called a Hindu.

By Bakistani author Salman Rashid.

[Singha]

AGRA: Three underage boys are among five arrested for assaulting a Swiss tourist couple in Fatehpur Sikri near Agra on Sunday and leaving them with severe wounds and broken bones.

The oldest accused is 20, say the police

IBNlive

[Singha]

arizona based PIO pharma billionaire indicted in opoid pushing case

http://www.news18.com/news/world/indian ... 58819.html

[Marten]

arizona based PIO pharma billionaire indicted in opoid pushing case

http://www.news18.com/news/world/indian ... 58819.html

Brown Dwarf syndrome. Become any taller than the white man, and you shall be brought down.

[Javee]

Yes and no. This is like Raj Rajaratnam' case. A lot of them are doing it, but being a brown man, you dont get the same chances as others.

http://www.fiercepharma.com/pharma/insy ... ys-scripts

[Singha]

True . Bali ka bakras are being sought for opiod and street drug epidemic.

Its a v2 cloud based variant of the big iron baremetal waah on drugs play

Some heads are needed on a stick to appease public sentiment and media

[Mort Walker]

Yes and no. This is like Raj Rajaratnam' case. A lot of them are doing it, but being a brown man, you dont get the same chances as others.

http://www.fiercepharma.com/pharma/insy ... ys-scripts

Agree. If you have enough money like Rabat Gupta got good lawyers at his disposal and got a really light sentence.


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[Mort Walker]

I agree. I live in CA which has high state tax. If that deduction is gone my tax bill will go up. When Trump was screaming about repealing Ombaba care I thought I will not have to pay Obama tax. But tax is still there. As I see it unless you are in the top 1% your taxes will go up.

Not only that, but loss of mortgage deduction too. So far on taxes I see loss of deductions on local taxes, mortgage interest, and now reduction of 401K on AGI from $24K to as low as $2,400. Throw in rising health care and failure to repeal Obamacare this will be a real slap in the face to the upper middle class families (top 20%) who earn a combined $200-$250K/yr. No amount of simplification of tax code will reduce their taxes.

In TX and FL there is no income tax, good weather and cost of living is lower with good International air access. Unless you’re profession is in running your own business, Silicon Valley and IT, then IMO in the long term CA is not the place to be. As my kids get older into college, it would have been better to move between DC and Boston. Lots of academic opportunities and choices in that corridor for educated desis.




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[KJo]

Mort, I told you the story of what happened to a desi madarassa Prof of mine here in the US. He became so big the goras pulled him down for "misuse of Univ facilities" because he used the Xerox machines! Heck, I have misused a lot more than him.

Back in the day, many desi guys used to come into the computer lab late at night and print out dutty dutty pictures from the internet. One Tamilian fellow did that and the printers jammed up and stopped. Then the next day when the admins unjammed it, all his dutty dutty pictures came out in broad daylight.

[Mort Walker]

Mort, I told you the story of what happened to a desi madarassa Prof of mine here in the US. He became so big the goras pulled him down for "misuse of Univ facilities" because he used the Xerox machines! Heck, I have misused a lot more than him.

Back in the day, many desi guys used to come into the computer lab late at night and print out dutty dutty pictures from the internet. One Tamilian fellow did that and the printers jammed up and stopped. Then the next day when the admins unjammed it, all his dutty dutty pictures came out in broad daylight.

KJo,

I’m familiar with what happened. The prof had enemies within the dept. because of his ethnicity and the first opportunity they got, then they got him. That same university is different now compared to what happened back then. I believe he left the US for the UK and retired there. That said, he should have left earlier even to another university in the same state which would have been happy to take him.

Years ago when Medicare fraud started being heavily prosecuted, many Indian doctors were nabbed whereas lots of Jewish doctors had been doing that for decades.

The bar has always been set higher for Indians no matter what. I know in medical and professional school admissions they want to limit Indian origin students, all of which are higher achievers, and so getting admitted becomes harder. On top of that throw in the obnoxious K&N attitude of other desis, it’s a real bitch.


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[Raja]

Mort uncle not just med schools or YumBeeAye, SDEE intake is actively restricted even in engineering and science degrees in places like Stan madrassa.

Even for ITvity types, CA Bay Area is only a great place to live when you are young and working and stability is not the #1 criteria. It’s a great place for active lifestyles and new opportunities. Once a stable pay the bills type job becomes the criteria or one is looking to retire, its time to get the heck out of CA. Most people who made their fortunes but disengaged from trying to make another fortune typically moved out of CA.

[Mort Walker]

Mort uncle not just med schools or YumBeeAye, SDEE intake is actively restricted even in engineering and science degrees in places like Stan madrassa.

Even for ITvity types, CA Bay Area is only a great place to live when you are young and working and stability is not the #1 criteria. It’s a great place for active lifestyles and new opportunities. Once a stable pay the bills type job becomes the criteria or one is looking to retire, its time to get the heck out of CA. Most people who made their fortunes but disengaged from trying to make another fortune typically moved out of CA.

Raja,

You are correct. Stanford, UChicago, the Ivys + MIT have restricted admissions of PIOs for some time now. Of course I don’t know about CalTech as those guys are too scary smart when I’ve run into a couple of folks from there. They give me a serious inferiority complex since I can’t keep up with them, but I can handle the MIT guys who are still smarter than I am, but I can follow what they’re saying.


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[Raja]

My KB is a Caltech shop onlee so they are a dime a dozen here (including people who worked on the LHC and other stuff). Some are super smart, some are stupid, rest are OK. Just like any other school's grads.

[Indrad]

what is this 'sent from my iphone using tapatalk'

[Mort Walker]

what is this 'sent from my iphone using tapatalk'

Tapatalk is a mobile application for iOS and Android that BGR forum allows.

I’ve turned it off. Sorry for the irritation.

[Singha]

wife has gone out to escort a few murican and sinic visitors from her team around the city as a day trip.
have asked her to take them on a metro ride also to showcase peace n progress than just historical, botanical and architectural stuff

[Singha]

i love this, for the first time ever, a indian politician has gone to murica and addressed their black spots in a less than timid way lol

https://www.ndtv.com/india-news/us-is-g ... eststories
https://www.ndtv.com/india-news/shivraj ... cs-1767294

predictable pavlovian response for congis demanding he be deported and his visa revoked for 'insulting massa'

[Raja]

Yes important to underscore the fact that unlike Euros and Egyptians India is not just a land of past glories.

[Singha]

Day before yesterday night i had a troubling dream.
Me with the two children are walking in a grassy field.
From behind us a long snake approaches at a fast pace,
Overtakes us and keeps going. Off to the left i notice two smaller fat snakes lying motionless in the grass. I yell at my daughter who has wandered left to run back but she is too close and one of the serpents bites her in the foot. I desperately carry her in my arms to a hospital where a lady er doctor comes to help me, i say its potentially a king cobra juvenile who bit her she comes back with a carton of preloaded anti venom serums each marked for type of serpent, finds the right one and injects my daughter

Today afternoon mail comes that a small snake has gone in my apartment gym and gone inside a treadmill that is under repair. Despite hard effort by security guards none have been able to flush it out or properly identified. Some apt Kids playing outside ran to inform me as i passed by. The rwa will likely call the bbmp helpline to send a pro to investigate. I had run 10km on its next to next treadmill yday morning before leaving for 11.1km on the road

Premonition ?

[Mort Walker]

Singhaji,

I don't think it is premonition, but be careful. Can your society hire some snake charmers? Snakes don't like camphor and you could crush it in to a powder and spread around the entries of your flat.