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Full Show 12-5-17

Dec 5, 2017|

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This is the financial exchange with the very Armstrong and chunks are now. You're exclusive look at business and financial news affecting your day you're sick leave your world. Stay informed and up today about economic and market trends plus give breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. Hold your horses folks many of you are gonna pay more in federal income tax and 2018 dude tax reform. But just the nature of the bills a lot of your gonna pay more in federal income tax and many of you are gonna pay less in federal income tax today. Share with you some of the ideas that might help soften the blow for those of you or look at your tax police oh my gosh. And a property tax bill twenty grand a year and I am not going to be of the deducted anymore got a lot of medical expenses etiquette to talk about it. Because you know what. Some of us are gonna be paying more in federal income tax in 2018. Than we were in 2070 hi everybody it's buried truck with you here. And you don't that's just the nature of tax reform there's winners and there are losers. Yeah and in the big thing is you know we still don't have a 100% clarity on what this bill's going to look like Blanton at least on some of the key items we do have enough clarity based on similarities between house and senate bill. That we can say. Some things that could make some sense heading into next year well and the problem is. Some of the wind is the president can actually sign this bill to increase the Christmas Eve. In much elated that yeah so here's the problem right we've got some ideas for and I think these ideas are applicable now. I'm gonna quantifying this on their call for. Something here. We're talking about what you should be doing between now and the end of the year and this is primarily for people. Who file itemized returns if you're wealthy in your filing an itemized return some of these tips might help you. But check with your accountant before you implement that's the the one tabby and an throw out their chucked. But for instance that that the one that just popped off the page. Was it if you got a big property tax bill and you've been filing an itemized return let's say you've got to. You know a Lakefront home on lake would oppose Saki and may be live in Massachusetts a year pain and heck you could be paying 3040000 bucks a year in property taxes to. Well you know what next year in 2018 you're limited to paying 101000 dollars or deducting 101000 dollars on your tax. Yeah that that's what both of these bills happened so it's likely that that's going to be the case and so you can't do is you can say hey. I'm gonna try to peep prepaid some of my property taxes in 2017. So I can deduct it this year. And kinda get around that now you can't do it again next year because obviously you know that the laws and change at that point if if this goes through. But certainly this you say hey if I've got cash on hand let me make that extra payment right now and get that deduction this year and then now afterward about that. And let's just walk you through the math on folks you might say well how big a difference gonna make let's say you're. Property taxes or 30000 box ritzy you're over by 20000 dollars in terms of what you're gonna be allowed to deduct in 2018 sets of 20000 dollar extra. Beat your gonna pay. You won't be able to deducted as you've had been able to in the past yet the value of that deduction if you're able to do it this year is probably depending on your tax bracket anywhere between probably four and 7000 dollars right probably closer to seven because if you can afford to pay 30000 bucks a year in taxes you're not making a small amount of money your higher yeah so. You know think about that. City of La Colonia or wherever you happen to be. But the fact of the matter is by paying those taxes in advance you at least get to deduct them in 2017. Because in 2018 folks. That deduction is gone it's gone up and and I don't think the house and senate. I mean Susan Collins we can thank her for getting it up to ten. House yet it's it's pretty much because for now what's interesting is that the other freedom caucus yesterday came out and said hey some of these things. The side deals that we're negotiate we're not sure that we want to necessarily. Stick around with it's too late for that those and for the freedom is isn't this already know this donor conference in what does that mean. They have to come up with a unified bill that can get through both the house and the senate so they have to vote on it again in the house yes column. Cash and guys had a disaster get their conference committee Oka and based on what we hear the freedom cogs of putting up some plates yesterday and then you know and they they backed off and said okay we will allow this to go to caucus to walk conference. But it's. You never know what they're gonna do what their room out there some time so that's that's one I'd write it yeah prepaying your property taxes. What's another. Depending on how the you have a home equity loan structure get rid of it. Paying some of that off might make sense for his well because the deductibility of that could potentially shift you might be you know paying 345%. On home equity line credit. He's got to cash in the bank pay it off. What are the big question that that is out there is going to be for older folks the deductibility of medical expense right. And so the house bill does not allow for any deduction of medical expenses people are going to be sold mad about the the senate bill actually makes it easier to deduct medical expenses lowering the threshold to seven point 5% of your just losing come down from 10%. But that would only be for one year before going back to 10% so again like worked complicating things here. But if medical deductions either go way or your ability to deduct them is reduced you might be better off saying. It in those procedures that haven't put off the last couple years in plants maybe maybe it's time for me to what do some of those things this year. In tax three to four weeks you talk about your medical leg. Dental work comes to write a lot of lot of pay dental work and any kind of any kind of surgery that wouldn't be covered or any kind of procedure that wouldn't be covered by insurance is my faceless. My Botox how often do you do there's these expected it's getting better and you'd almost week. But it. So the the anything that I can deduct in twenty you look into what medical expenses you have that are tax deductible because. They may not be tax deductible in 22. Another big one and and I've gotten probably 45 calls about this in the last couple days charitable donation to yes all of my gosh charitable donations are something that. You know with the changes in the standard deduction as well as near kind of where things are set up right now it might be a case where this is a year where say look I'm gonna front load a whole bunch of charitable donations for the next few years. And get them all wiped out you know right now just because it makes more sense for me to do all in one swoop as opposed to union the little pieces which I might not be able to deduct going forward. I was talking to one of our clients to and what we're doing for that client is he's got a charitable trust and what we did was we said okay well. He didn't wanna give the money directly to the charity today. Rates they didn't wanna write a check to the university. In 27 team so what he did was he's making an extra deposit to his own charitable trust. And Daniel he'll distribute that money but he understands that this is probably the last year this then that little. Glitch in the tax code. Is gonna cost churches and schools an awful lot of money. Going in to between nineteen it it has the potential to so it's it's something where pastors are very upset about talking to pastor. Oh I would imagine and and he was quite upset in and they are trying to organize but it's too late to party in the gap. What else inning medical expect our investment income those big the investment stuff and I think it's too early to tell on a lot of that but you know the the big ones that we talked about could make some sense but. It easier kinda roll the dice do you do any of that right now like he still don't know what this thing's going to look like. Well I think if people are kind of getting around it. And and getting their arms or the tax code that the problem I could see happening chuck is you know the president signs it. On December 24 December 27. It's tough to get a lot of the stuff done. By the end of the year oh yeah act is a property tax bills pretty well especially you can win. These. Tuesday so you really look like three d.s and there's no carry over weekend because the thirtieth is Saturday cease their sane. I've got near three days to get things done and it's a time where you might have other things that you're doing and make it's it's it could be a real challenge for people to do some others. It's one of our friends in New Hampshire is asking is it 101000 dollars per property no it is on its 101000 dollars per tax return. In property taxes that you will be allowed up to deduct going forward so. You know if your married couple and Nate if you're a married couple that I described in you've got a house needed maybe you live in Boston. And you have a place on the cape or you've got to place on liquid the sake here at lake some may go lower or Connecticut short the network news. Right but if you've got property taxes that you pay in excess of 101000 bucks between two properties three property be 22 properties. Only deduct 101000 dollars. Hole. On your tax return. And that doesn't matter whether you're single or married. So be aware of that that's a big change up and you could prepaid. And then it's is 617 somebody from Boston asking can I prepaid eight full year and does that apply to any property taxes. The best of my knowledge you can prepaid yeah you can pre pay a full year and it could be on investment properties investment properties are have to worry about it though because you have rental income offs. The tax the yen in I would recommend checking with you work town on that this property tack to yeah some may say hey you can some may say that you can't I don't necessarily know the specifics because I'd never done it. But it might vary based on know the town. Couple just a housekeeping item our poll question today is do you think restaurants servers waiters and waitresses should be required to share their tips with kitchen staff there's a law. That's about to pass that will require that so. If you know some may be here when he kids as a waiter or maybe your way carrier server. You're gonna have to start sharing your tips with a kitchen staff are people upset about this we wanna know your opinion on this. Days they on this poll question. I'd go to our website financial exchange showed dot com Tucker you you've had some history in the restaurant business how do you think people are gonna respond to. We eaters having to share their tips with the cooks and chefs in the dish I think the polls going to be overwhelmingly no. Know who can I vote yes just to start. That's on stir the pot there. We're really the canal vote on our poll it's financial exchange showed a comet that Arctic. Chuck is always asking me why. I'm always so grumpy when there's a reason there's a bit there's logic to generation grumpy. Why you may be unhappy. If you're around fifty years old which you know plane as a reason Michael early morning bears scary very. Scary very that's very player there yet that's my name it they'll talk to meet tool. You know 12 o'clock or any 5 o'clock tomorrow. Who who we're gonna be joined by Robert gavel and he's gonna explain why people who were in their fifties or little crabby east that's next from Anthony to exchange radio network. Barry and Joakim the latest every day beginning at ten only here on the financial exchange radio network. Many of you listening to the legal exchange know that Todd let's do you spent his career helping people just like you with their state planning needs a common theme among his clients is the question of legacy claiming we all leave our children in the best possible shape but gifting our assets being a home or vacation property in creating huge capital gains tax problem that the kids choose to sell the home. The problems can become disastrous if one of the adult children has creditor issues or goes through divorce you know the old adage you can't take it with you and that inspires people to start giving assets away as gifts it can be a good strategy but the devil is in the details Cushing in Dolan has written a brand new guide that explains gifting strategies it's pretty by calling 8668485699. You can also download a copy on our website at legal exchange showed dot com just click on the guides and articles that you worked a lifetime accumulating well now you should spend a few hours making sure it stays in your family though right way. Call 8668485699. Or downloaded right now a legal exchange showed dot com. Hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking when he one point 15%. 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Get the most comprehensive weekly economic update from CNBC senior contributor for Larry Kudlow every Friday at 1045. Only here on the financial exchange radio network. You know when you first graduate college trying to figure out how to like come up with a deposit to rent my first department helmet and pay next month's rent and how they gonna make that car payment. By the time you're getting a little older you tend to be a little more at peace with your finances. Recently used to be. Survey research shows. That the current crop of middle aged Americans not feeling very good about their finances were joined by Robert gebel off from the New York Times Robert welcome to the show. They're good morning so why are all my peers so grumpy about the finances what's occurred in the last 2030 years. It's kind of several things going on simultaneously the first step back up what we found was there's a based survey that's been asked for the last. 45 years and the same question to NASA's top of the national opinion research banner. Called the general social survey and they ask the question. Are you pretty well satisfied with your present financial situation. And for thirty years or so the answers when broken dam age group were pretty much the same older workers where the most world of respondents would most satisfied. Younger people would at least satisfied and people in the middle age were somewhere in between. But in the last ten years or so much change to arm. Everyone is somewhat less satisfied where before but the biggest drop has been in this age group of 45 before your world. And some of the reasons are. People in this age group were probably. More likely than other age groups to get caught up in the housing crisis yeah cause and while Matt hit they were probably at the age of buying their first home. There are other long term trends such is if you have a job whether or not you have a defined benefit pension plan that started to go away to the generation. And assist other. Trend that is starting to be better understood by a lot of people looking at economy which is the role older people com. Older people are more likely to stay in the workforce longer. And to take the highest paying jobs. And you know other survey research resource lounge shows that they are increasingly likely to be among the wealthiest Americans as opposed to. You know a generation ago when this would be considered the peak earning years. Right so you're talking about the boomers the boomers are hanging around too long and they are hurting this younger generation. Well in a way and it and it's an excellent question because when. I first noticed this was happening a few years ago we were a lot of people were looking at what's going on with the middle class in this country and it's. If you look at income trends over time you see generally in the United States the number of people Orwell he's going up. And then the number of people or pour is going up and the number of people sort of in the middle. Or actually represented by what is the average is going down but when I looked at that more closely what I saw is the shift. Who is still in the middle a lot of older people who had previously. In income statistics ranked near the bottom. And a few years later when it looked at it again this time you'd see it's just it's really shifting dramatically. Number of people 65 or working full time. I used to be a fifteen years ago was about one and twelve now about one in seven. And well when you first were looking at this we. Kind of got the impression that some of this we're was people who were. You know may be taking a job in retail or something to supplement to retirement savings and actually when we look at it more closely this time. People over 65 or matching the trends in general economy that are going in computer science and standing longer. That helps jobs wrote a lot of those are older people respect that. So. You have these two things happening simultaneously. You know being caught in the negative trends and happening in the economy and then having the older generation. That is that would normally be retiring and is not as likely to retire and that is sort of got. Boom the people 4554. Kind of caught up. So what does the future hold for that group an and what is the future hold further. 35 to 45 general public is this a trend that's going to continue or is it isolated to this group that was you know. Not quite baby boomers general the next nickname is an active for the conduct. It it sounds like they are kind of stuck in Iraq. Right and and you know the belong Petraeus like you know I've I've worked which is demographics and economic data and we're always looking backward yeah. So looking forward is always tricky and as I think are part nonetheless segment you know when you have like a major tax bill that. The change things like that it's hard to predict. But if if all things hold the same. This could be the new normal which is. You know by the time you know ten years from now our generation could be in join the same things as future generations but it it raises a question of like how much damage was done to our finances. By like losing our defined benefit pension and what's gonna happen until security is it going to be as good for us when we get to that page so. It's possible that we could still be. Not as satisfied as. Previous people as we move up through the age. Cohort. Very good very Robert thank you for your study in a it was fascinating as I read it and I'm sure appreciate your coming on the show and explaining to thank you very much are at brought her gavel off from the New York Times and you know chuck heat with wood struck me. What is you know you think about those people aboard navy retired and the people born between 1962. In 1971. Indy live through. To just horrific stock market crashes they lived through the crash of you know 2000 through 2002. And then they lived through another crash into your every thought that the dot com bubble was just terrible break it all allows the worst thing ever at the time. Right then you live through that date the crash of 2008 these poor people are shell shocked. There anymore shall sector should they be any more then the boomers. Or people in their eighties and like you know you look at it the boomers had happened right as they were trying to retire yet so you know it's true rumors and you're saying look at a plan and all of a sudden I'm working the next ten years. Then you've got folks you know like my grandfather's 98 years old now who sit there in retirement saying. But what happens like where did all my retirement savings actually the technical back to work at age ninety you know we like it that this is not happening so. You sit there and you're you're going to. OK lately it it was bad for all these groups why is this one more impact it and that's what what I find tough to kind of pick up there is. I think it's living through two really bad. Recessions. When Yuri in the you know you're you're supposed to be. Writing skills so imagine you know you lose your job like a lot of people that fired 2008 in the middle on start their young careers. I think that has a lot to do it. When to go backward talk about how graduate students will pay a higher price. Under the new tax plan that's next from the financial exchange radio network. Like this on FaceBook and follow us on Twitter. Show breaking business news is always burst right here on the financial exchange radio network. This is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks -- hassle out of rent day with easy round leader banks all mine rent collection tool he -- automatically deducts tenant's rent and deposited into your account visit www. C Rand dot net to learn more we see rent your payments for each unit received regularly on the same day every moment tenants pay nothing in the first six months or free throw landlords visit WWW dug see rent dot meant to learn more or call 7816418691. Are you financial advisor who lacks the formal succession plan you're not alone according to investment news 43%. 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Subject to credit approval leader bank a step ahead. Many of you listening to the legal exchange know that tub Penske has spent his career helping people just like you with their state claiming needs a common theme among his clients as the question of legacy claiming. We'll leave our children in the best possible shape but gifting your assets be at home or vacation property can create a huge capital gains tax problem that the kids choose to sell the home. The problems can become disastrous if one of the adult children has creditor issues org goes through divorce you know the old adage you can't take it with you and that inspires people to start giving assets away as gifts it can be a good strategy but the devil is in the details Cushing in Dolan has written a brand new guide that explains gifting strategies it's pretty by calling 8668485699. You can also download a copy on our website at legal exchange showed dot com just click on the guides and articles that you worked a lifetime accumulating well now you should spend a few hours making sure it stays in your family though right way. Call 866845699. Or downloaded right now and legal exchange showed dot com. 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To 900 or email BBO at leader bank dot com for more information member FDIC equal housing lender. Time now for Wall Street watch a look at the market's performance so far today until Darian chug right here on the financial exchange radio network. Kind of a mixed bag for stocks today it looks like tech companies must've gotten congress does the nasdaq's up in the Dow's down. Yet Dow down about four points NASDAQ up 35 S&P is pretty much flat at the moment. Amazon really leading the NASDAQ had a one point 51 point 62% now. You know notable companies moving around. FaceBook also about one point 6% apple up about half a percent so. You know you big tech companies moving forward a little bit at this point and big Dow components struggling a little bit except for Deere caterpillar both in positive territory continuing their strong runs dear now up to a 152. Dollars a share. If you take a look at the 52 week range years from a hundred to 150 twos are up 50% over that last. Year now are well here's the story as it relates to restaurant workers restaurant servers so you waders in your waitresses and bartenders. If you received tips you might be required by your employer to share that money with no on. Tipped colleagues this under a proposed Labor Department regulation. That and does an Obama aero rule. That the restaurant industry has balked. So. The proposal in it was made yesterday morning we didn't pick up on till today but was made yesterday morning. It's a win for restaurant owners' rights if you own a restaurant. It requires that cooled tip money. And not the business itself. Would be providing part of the compensation for staffers who typically do not interact with customs while seeking pay a dishwasher. Or a busboy or something like what you might pay the busboy seven dollars an hour. But a bus was actually using get a piece of the tentative date they'll they'll they'll bet I'm thinking of the dishwasher. And cook's in the shafts in them. At that Michael hooks him in the guys in the back right they don't get to and they. Frankly they have really tough job because there were signals that stressful what and not a waiters and put. Well they're they've got the heat. Right the the elements that they were so. The the proposed rule would also mean by sharing their gratuity more widely. Waders are gonna bring home last tip income as would bartenders bring homeless tipping. You know who is a big proponent of tip sharing at by if my numbers are correct Danny Meyer Steve if political. Obvious no he was opposed to actually dubbed as I believe has a tip sharing arrangement of the I believe they do it with a kitchens that. Thought they did or maybe your right Michael your wrong in this but I've I've read his book and I thought that was in there because the the thing that down. It. This is a very controversial. Topic and it's our actually our poll question today do you think restaurants servers should be required to share their tips. With the kitchens that you can vote in our poll. By going to financial exchange show dot com. And you know let us know how you weigh in on this 38% of you. Saying yes servers should be required to share their tips for 61%. Saying no agreement you worked in the restaurant industry. Yes and your family and we spent a lot of time in that business to yes any general thoughts on this. I mean I just think the system's broken altogether. I think waitresses should be dependent or bartender should be dependent. On tips I'd I know in Europe it's a lot different and they actually get paid. You know it's it's a tough job it's a really tough job so I I feel like the wages should be higher and then if the wages were higher for each position. Then I'll would be in favor of to share. Well they would be higher his right now waiter makes two bucks an hour with us from saint wise way to make into books that's ridiculous hold on now. Under this agreement. And under the regulation right waiters who go from two bucks at two to 725. It's still too low twos two up plus their share of the tips to up. Wages should be higher adjustment in his you should learn it now well but lady talked to the restaurant owners it's not like here. Unity talk to your local law owns arrest rate he'll tell you it's not easy to make money in the restaurant photo it's not at all he think about how many restaurants you see. Coming in and out of business yet right it's a tough game go to any restaurant Tuesday night. Something like Paris thing that I was find interest in that the that the tipping. Only happens in certain types are instrument you never tips and wanted to mcdonalds. You never to it's it's based on the service not on the production of food and I've always kind of wondered about that because you sit there and you say. Well again if someone's making me an awesome murder Wendy's. Should I be tipping them let you know usually he's there and you know why why do you only tip on the service portion and not on the production and because. At our place like any fast food restaurant like dash is literally defrost it and then program and the rest I've always been a proponent that. I don't think that you should have tipping anyways at I think it's just beat out I don't either pay workers what their worth it's not my responsibility. Right there would determine what your worst days as an employee if you like if our mean. This would be equivalent to a far listeners that texting your wages that yeah it's it's icing might get put on a terrible showed today we're not gonna pay. Yet the the thing is with this this this theory behind this is from the restaurant owner's perspective. Is don't get everybody pulling in the same direction rates of the guys in the kitchen are gonna make sure that the food is just fantastic because they're shared the right into a frankly a big party you're gratuity is based service I acknowledge that but if the foods crappy radio we've had a tip. Not great yet really good food and silverware clean. You are more plaque says that that's the thought process behind the National Restaurant Association who's in favor of this ranks so then. You're gonna get cooks may be possibly accusing readers of pocketing some took money. Well most of our common on the credit card. IDI tomorrow cache be a lot of I know Tata tea on the credit card but I tipping guys pay nothing in. I know a lot of people do Katyusha I've got to when he did the other night I wrote down I've got a twenty dollar bill in my wallet from. General. Tickets deception. I have so much to probe broke especially like not just in restaurants bullets and these other situations like. You go late to the airport it's like Jolie is gonna move my back from here to there do I have to tip of morally. I'm checking in no don't help me bell hop because I don't want to have to tip Lleyton you sit there and it's like. Tampa. It's in the yeah exactly and everybody why is my responsibility to lower the business owners caught it's Christmas and just be generous of them or that of it has nothing to Christmas how much do I tip my post draw you to only two but you know how much I got. I know but how like fifty. Chuck brought out a dark or don't like palm's OS if this how much do duet to the mortgage mess yes yes you do how much do it to them you don't call the garbage workers and you call them sanitation workers put tape it. Two Libyan. You do admit this week and all the whatever they like I don't hear you calling later and I tip them yes you objects twenty bucks without yet the dry cleaner. And and and I I don't harassment crap mark on the pole for word on what tips postal worker yes twenty to fifty bucks. Sanitation workers depends on how big slob you or were big slots that we give fifty. So like I always erotica that we produce a lot of errors we could probably do a whole show on holiday tipping his Ide I've got the answers them and meeting. Okay it would about a place that we were this actually not already like in the office the you've got people you know the people that clean that given the beat what about superintendent give them a bit about where they were taken up from a a hairdresser yes we mean hairdresser. It's side notes side note I don't took potato ever sorry I don't hate I took less on take I don't look at all. I usually do it it ten to 15% on on take I all right we earnest definitely need to take a break here is the right time. Throughout the year. It's in a lot of different occasions Christmas is coming up. And many of you are trying to think about what are you going to put under the tree that loved how but a gold coin. What do you think of that you can buy in a one ounce gold coin it's gonna cost you over a thousand bucks beat him by 110 of an gold coins as well. Precious metals for Christmas are available exclusively. From leader bank go to any leader bank Rachel called them. And you can buy gold coins silver point would be for Christmas their phone number is 877691. 7908776917900. And buy gold points. We are a lot. Check this is what you should he should go by. One out gold coins and give those out to be the most popular guy and one ounce. Why not now. You'll be very content on the tap my 401K dollars. Our way licked we would what else. And that FedEx drivers should I get to absolutely I think I tip. Our FedEx driver and I I tip our UPS drivers and I took them you mean a Christmas. Radio in the off so I I give them big tips because those poor buyers the beer carry those boxes up their run. -- in you know especially this time a year you guys were either Christmas seventy hours a week they are required by the company if your driver UPS you're working seventy hours a week then alto support until like January had Merry Christmas it's more just than anything. But I'll say on the text blind date is OK okay I here's here's some other questions that I have these aren't necessarily for me but I'm just looking at you know other people that you made. And use a tip your sanitation worker witnesses to send cheap. Did you tip of yet I kept of effort might Postal Service sucks too bad it's gonna get worse if he'll tip of is that they eat you tip your postal workers. What about a would get a paper delivered tip of absolutely publicly. Home when he when he. Toy for so Tony is the minimum twenties the minimum fifty is kind of like the they're pretty it you know what about we're like a person you cannot give postal workers cash that's. Democrat catcher here be given a cash for thirty years. Given beer. He given to dole dole them out you see they don't have to drink it in the clock and oh no that really I'm gonna give me this is some other bison. Don't give them a box of chocolate chip cookies they want cash. All right Terry what do there's money hitting in the criminals cash. Telling. You give people cash that's what they want. Tipping isn't mandatory now it's it's not mandatory. But you know what it's the nice thing to do these people work hard it's we get it digest more of these well like this would sixes three says it's actually sanitation engineer badly that thank you. And we share tips that he shares it it's yours it's the trade workers and lake if if the guy's a carpenter. You know it's beep the winner of questions about like my house easier regular housekeeper at a human music now gives its people that you see regularly those those the ones that I struggle with words like OK and of the yearly and you elected to light not tip. Though those ones I tend to struggle. And yeah I came across a story that you're gonna find very interesting. It's this organization in California that is helping transform the lives of ex convicts it is teaching him how to become. Technology workers it's a fascinating story you're gonna wanna stay tuned to it that is next from the financial exchange rated network. The financial exchanges all over New England to go to financial exchange showed dotcom and search for the station closest to you this is the financial exchange radio network. Hi this is very Armstrong and if your regular listener to my show you know that I talked a great deal about Smart retirement planning each year certain limits are set by the government and these key numbers are critical for you'd understand if you want to maximize your savings I'm not going to be for you the numbers that this is information that can help you plan accordingly and alleviate a lot of unwanted and unnecessary stress call my office right now at 803934001. And ask for my brand new free guide called key numbers for 2018. It's chock full of charts and statistics they can help you and areas of retirement planning that you might need the most that number again is 803934001. Or you can download the guide right now at Armstrong advisory dot com. Dirty suffer through securities America incorporated member finreg SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group the securities America companies are on affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. If you're landlord looking to find an easier way to collect rent payments than you need to hear about leader bank's online rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and he rent dot net without the need to collect checks mostly in the reduce local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank acquired does he ran technology Tillman McCall does he ran team at 781 at 6418691. That 7816418691. Or visit Z Rand dot net stopped chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot net. Everybody it's very Armstrong and I'm joined by estate planning attorney Todd what ski from the law firm Cushing in dole and and we're talking about. Gifting assets can you explain Todd the differences. Between gifting assets away from an IRS perspective. Vs gifting assets away from Medicaid. Perspective this is a great question because two things one the amount you can give away for an IRS purposes is 141000. Today and com 2018 the news is it's gone up to 151000. Seems to go up about every three or four years yeah it's got to make it by a thousand and our legal guys sell. There will be 151000. That you can give away. And what that means from an IRS perspective is that you. Do not need to file a gift tax return and you do not need to Pena gift taxes and you will not use up any of your gift tax exclusion. It is an out right freed. 151000. Dollars to anybody you want to give it to delight in one later as the recipient that's a question how often yesterday you know. Mom gives their son. 101000 dollars and then that subtle call me settlement on Gaby do you a 101000 dollars to have to declare that anywhere from you know absolutely nothing for the recipient and most importantly nothing for the gipper. However the differences for Medicaid purposes. It will be eight disqualifying transfer. It doesn't matter that it's not taxable for the IRS if you think you can give away 151000 dollars and protect it from the nursing home without creating a five year waiting period. You are incorrect. Folks it's important to learn how to properly if you're assets you don't run afoul of the Internal Revenue Service or Medicaid. Call Cushing and dole and 8668485699. Or download the guide right now and legal exchange showed dot com net. Legal exchange showed dot com or if you wanna call you can do so by dialing 866. 8485699. The financial exchange with Barry and chuck is alive on FaceBook and YouTube every morning beginning at ten disk is the financial exchange radio network. We're joined by Michael new birth from CNBC talk a proud of program. Called the last mile program that helps ex cons find jobs in the technology field they don't Michael. A very anti carrier. Great so tell us about this last mile program I was fascinated by it and the results in the actor outstanding. Yet so it story we initially did back in April and it's it's a pretty amazing. Programs and Quentin prison and a few other prisons around California and basically what they do. They go in and they teach in May to a willing to learn inner interest it and someone in technology or have no background on technology. They keep them how to code on these computers that actually are hooked up to the Internet because they aren't present are now allowed had. An Internet connection so it. It's an amazing thing and some of these people that that they're teaching have been incarcerated for twenty years some of them before. Cell phones were were really popular definitely before Smartphones before the dot com boom was even. I think in cities these these prisoners there are getting these skills. That they wouldn't have any way to get otherwise that this program didn't exist in some of them are actually planning real results from the get out. So Michael are people who actually willing to hire an X console like a cup I don't know which companies are hiring and their thinking like oracle oracle IBM Microsoft. Are you telling me that one a technology company will hire an ex con that's how short we are programmers. I don't think it's necessarily a shortage of programmers but it is you know kind of a social mission of some of these companies to find a way to get back the community. I know Mark Zuckerberg has gone innings and giving a presentation this group. I don't know it. Specifically FaceBook Microsoft. Have hired anyone but but one example that we did. Follow up with recently was the dining Craig Schumacher who just got out of prison after a seventeen year. In terms he was convicted of murder. It was in prison for seventeen years you went through the last mile island is actually working now as a programmer in Silicon Valley at this company called tandem. Which is. Stand super fan site where people go when they. You know that look up came to terms plot lines or diversity is actually. Using the skills he learned in prison and he was hired now as an intern but it's you know at a step towards. A full position at this company. So how many prisoners have graduated from this program. Well about twenty or so have gone through the program and left prison it's it's now in five different prisons in California there's. Quite a few dozens. You know it doesn't matter and it twentieth last. Prison none of them have returned to prison. So that throws it askew lead note no issues like you're having gone out and then. You know committed another crime. Right it'll a lot of people out of talking about the story you know they're saying you really want a criminal or convict have. Computer coding skills to. You know the natural thing to think it was that that could potentially lead news crimes related cyber crimes. What have you but. What it's really feeling it giving these people and you know hope and mission when they get out of prison and a skill set that actually let them re integrated society and a productive way and of the people have gone turn not gone back to presence. And that's a big problem recidivism rate date any law may I don't know what the rate is but it's very hot. You know cons of get out of jail and within two years they're back in the can't. Urine and the last mile. Provided the stat that that 60%. Prisoners in California actually do return. To present at some point to yet I have here a lot of twenty or so that it graduated as a pretty amazing statistics. Would go from the employer's perspective are they giving the financial bargain by hiring an ex con there's I would think. You know frankly just think he batter out from an economic standpoint rate if I can hire. A murder vs somebody who wasn't a murderer I would wanna be able to pay the murder less money. An interesting question I think what what we've found and in the community to you know who ultimately gave Chris Schumacher's. I shot it yeah censorship. His take away it was you know we're treating him like any other in certain we would have not. Giving him any special privileges were not taken last you know he didn't specifically say that. The implication was that he was being treated the exact same as any other intern. And that and that was almost as a sign of respect that they didn't want. Either to him last sort of treated differently because conserve but they were kind of judging him based on the skills that he had what he can offer the company. Co workers know about this negated the PG Schumacher's quote coworkers they know that he killed some nine. That's an interesting question to you and an. When you disperse tired. The entire company was not made aware right off the bat. Subscribers time. And present. They ultimately gave him the opportunity to go up in front of the entire company even webcast added to their offices in Poland and around the world. And he told isn't in Paris story from beginning to and we did talk to couples coworkers one. Gentleman who is is his senior on his team so that he was a little bit scared at first but once he got no press he'd. You know he wasn't afraid anymore it's brings energy and he's happy and is kind of like any other coworkers and in the prison part of it is just part of the story is not it's not his entire life. Or get Michael thank you for your time and thanks for your research. Michael knew Burke from CNBC. Convicts learning how to program while in prison and then coming out and able to find jobs. In this is really what you want to see the from. Prisons because some kind of train because the biggest cost taxpayers is necessarily the first time that someone goes to prisons that second third or fourth time so you're able to give them skills they can use Al. You know in the real world once they're out of prison health care it reduces the chance of them go back to prison and reduce the cost tax but he's thing about public health care workers we we have a shortage of what we say nurses right news short. Teach him how to become nurses in prison while complicated voting. Yes yes yes it's out there on the nuts and it certainly is. They don't forget to partake in our poll today. Do you think restaurants servers should be required to share their tips with the kitchen staff. Go to our website financial exchange showed dot com to participate in the pool will share the results with you when we come back. From the financial exchange rated it. Are you financial advisor who lacks the formal succession plan you're not alone according to investment news 43%. To financial advisors are over the age of 55 and many have no contractual agreement to care for their clients once they retire hi this is very are strong and we might be interested in buying your practice you worked hard but now it's time to find a successor the -- drug advisory group is a regional firm and we are looking to grow our business through acquisition we will consider both our -- and transactional oriented firms with a solid stable of young advisors who put your client's needs first and provide them with -- service and attention to which -- become accustomed if you're interested in talking with us please call me at 803934. Zeros or one that's 803934001. Or visit us online at Armstrong. Advisory group dot com securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. It's not too late to get a great raid on a whole mortgage leader bank specializes in a wide variety of purchases and refinance loans at some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call 8776917900. That's 8776917. B 900 workers at leader bank dot com. Member FDIC equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. Your dream home is within reach with a Jumbo mortgage loan from leader bank they're jumble loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases in refinances all originations are managed by leader bank's local underwriting processing teams for additional information call 8776917900. That's 8776917900. Or visit leader bank dot com. Member of the NC equal housing lender and Miller is number 449250. Subject to credit approval leader bank a step ahead many of you listening to the legal exchange know that Todd lets you spent his career helping people just like you with their state planning needs a common theme among his clients is the question of legacy claiming we all leave our children in the best possible shape but gifting our assets being a home or vacation property in creating huge capital gains tax problem that the kids choose to sell the home. The problems can become disastrous if one of the adult children has creditor issues org goes through divorce you know the old adage you can take it with you and that inspires people to start giving assets away as gifts it can be a good strategy but the devil is in the details Cushing in Dolan has written a brand new guide that explains gifting strategies it's pretty by calling 8668485699. You can also download a copy on our website at legal exchange showed dot com just click on the guides an article stab you worked a lifetime accumulating wealth. Now you should spend a few hours making sure it stays in your family though right way. Call 86684856. Tax numbers that are going to change in the year 2018 regardless of what congress does with tax reform. And Chaka wanted to talk first the ball. About the personal and dependency exemptions and then also the change in the terms of the standard deduction amount you know let's start first on those personal and dependency exemptions goers are effectively deductions that either you received or your dependents receive and when you were filing and what's happening next year. Is that numbers going from 4050. Dollars a person up to 4150. Person so it's an increase of a hundred dollars a person so that means that for you your spouse and any children that we have for you get effectively an extra hundred dollar deduction let's look at the standard deduction how is that changing next. Yet the standard deduction is increasing as well so what you're seeing is on the the married filing jointly it's going from 121713. Thousand if you're single it's going from 6350. To 6500. Seat yet. Effectively an extra 150 dollars a person in extra standard deduction next year's well. And so between that and your personal dependency exemptions to baton extra 250 dollars a person that you can deduct there are some changes coming. 22018 tax code if you like. 803934001. That's toll free 800. 3934001. Or if you want it right now good Armstrong advisory group dot com he can download the guide on our website. Armstrong advisory group dot com or call toll free 80334001. Security -- for your securities America incorporated member finreg SIPC and advisory services are offered through securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. Precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally it just makes sense of leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value leader bank. A step ahead hi this is very Armstrong and if your regular listener to my show you know that I talked a great deal about Smart retirement planning each year certain limits are set by the government and these key numbers are critical for you'd understand if you want to maximize your savings I'm not going to be for you the numbers that this is information that can help you plan accordingly and alleviate a lot of unwanted and unnecessary stress call my office right now and 803934001. And asked for my brand new free guide called key numbers for 2018. It's chock full of charts and statistics they can help you and areas of retirement planning that you might need the most that number again is 803934001. Or you can download the guide right now at Armstrong advisory dot com. Dirty suffer -- securities America incorporated member -- SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group the securities -- companies are on affiliated representatives of securities America did not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state your dream home is within reach with a Jumbo mortgage a loan from leader bank the Jumbo loan program designed for financing an excess of 500000 dollars offers fixed or variable rates for both purchases and refinances all originations are managed by a leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number 44950. Subject current approval leader bank. A step ahead hi this is very Armstrong and I've told you for years about my relationship with leader bank I've been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out leader bank is offering in east savings account providing free online banking with a one point 15%. Annual percentage -- this is an online product only and there's no minimum balance required so long gone to leader bank dot com and sign up today this rate may change without notice that don't delay log -- to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new east savings account that has a one point 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now its leader bank dot com leader bank a step ahead. And. This is the financial exchange with Barry Armstrong and chunks of you're exclusive look at business and financial news affecting your day your city your world and stay in for. And today about the economic and market trends plus breaking business news. And now the financial exchange we've Barry Armstrong and shocks. If I have to answer one more question about that going to think I'm gonna blow my brains out. Don't do that. And it's every every day I go to meet it. What about that kind. My son got bit calling for 200 dollars. My great you know. And not a fan of the record I just say again just so sick of hearing about it anyway I doubt that twenty point it'll be over soon. If it will let you can start shortening what next week. Sunday Sunday and Monday Monday Louis. NASDAQ didn't I'd call it a mini rally. That that's what I gonna get tomorrow at NASDAQ bounced back a little bit after a a tough day yesterday about three quarters of percent the Dow is up 32 points the S&P up seven. So if things move forward today it's relatively calm date to this point no well I mean nothing crazy going on in the market. This point at least you know anybody in graduate school if you do their undoubtedly quite upset why. Well the proposal there's a proposal the tax plan that will end exemptions. For tuition benefits. And it's in the legislation in their pride try to get this legislation signed off on by the president by Christmas this is Gannett. Wreak Havoc with colleges and you are so shocked to see how many people are grad school yup and this is something that is going to have a major financial impact. On a lot of these grad students and in particular. If you look at the wave. That a lot of these doctorate students and up. Paying their tuition it's done through a process that's called tuition wave and right now there's tuition waivers. Are not counted as income and effectively are able to be deduct that's that's the net effect that they wrap it. However. Under the new tax proposals. This would be counted as income which means that all of a sudden you have to pay tax on the money that you've never received axle with the Acosta student. On 500 dollars thousand dollars 4000 dollars it depends on the state and it depends on exactly how much they're paying tuition but. You know if you saw one examples likes five grip you're gonna see most people probably between about two and four. Yet to a 4000 dollars a year so. You you take people who are earning income anyways because they are in school other -- thirty guard and all of a sudden you're what you except you don't really have a choice and I you can spend it's going right to the school. And see Sydney saying OK so I mean grad school that means that. Now I have to go and get another job just to be able to pay BO for this unit for this privilege here. I just I think that's it ignorant people wonder where this came. It's that they're trying to make trying to find money numbers here is trying to find it's we saw the thing that we realized over the weekend right where. So the the corporate tax rate the trying to sit at 20% with all of these you know deductions and so forth and and write offs that companies can take that. They then set the corporate AMT at 20% as well in which means that all those write offs you think you can take you can't actually hear pay when he any because you're gonna pay twenty no matter what and that's why the RD tax credits effectively nothing at this point. So. They're trying to find the money to pay for some of these things they just. That they can't quite get something that makes cents. New you what they're doing is trying to save get the corporate tax rates are cuts. And and near an end to do it they have to tax people more right isn't that the long and short of is everything yet odds it's it's not a good look I mean I can get unpopular it is and and. Cutting the corporate tax rate is a worthy objective. Because I think it creates friction in the economy I think that it slows down the amount of economic activity that could be out there wasn't any might have been better off just focusing purely on corporate but when you do this when you say you're gonna do something on the personal side and then you start doing things like this then. You're sitting there any sane. Hope they did this so you're literally taking money from grad students to pay for stock buybacks and that's like the ads are gonna write them sell well. I know now an a anyway. That that's that's story. Started by UPS. I've ever seen UPS driver coming yet today but he'll be here he comes in every day. And UPS drivers between now and January are working seventy hours during any eight day period that's a lot of its. If it's pretty crazy in terms of the the hours these guys are working in Alitalia the the Amazon packages have been flying fast appears towards my house. That I get a driveway twice today I am Guinea another Amazon clients Roland this year it the adding to that point. The the the the used to be a sixty day work week over seven days now. It's seventy hours that there are allowed to work and the unions are complaining about it. Here's Sean O'Brien said he said. UPS he's referring to they have the ability to hires many people as they want during this time in the choose not to they choose not to because it would cost the money. Well I'm not sure how much money they're saving because anything over the 44 hours their pay and overtime. So I suspect. UPS's actually would be better off by hiring part time workers but they're paying a ton of overtime. My guess is their calculation is that even paying overtime those workers are more productive than trying to train someone approves new episodes so. Because let's say that you US train some what is new and the existing guy can do. You know a 150 packages and our but the new guy can only seventy. OK you know season it is and sees you is saying look at rather paid time and a half than double time for someone new. They've got 75000. Drivers across the country. Resistance and I know they beat you you see them there another company that's trying to hire both drivers make it about how much money they're making during this period time like they're probably. In that in the four weeks. Or maybe six weeks leading up to Christmas. They're probably gonna make double. More than double play. I'll tell you what it's funny though so I go I go you know running around town and so forth now and I see these trucks everywhere at this point. Every single driver looks exhausted. Again they you can telling they sit there go in three more weeks of this site right tip of you know it's I took three more weeks. In the tip there there Killen they're delivering close to thirty million packages today most days from now until Christmas. In a recap of the story we covered in the first hour had to do with restaurant owners. And restaurant workers there is a rule that. Is pending who's introduced yesterday. And the rule would require. That waiters waitresses and bartenders and bar maids would be required to share their tips with a kitchen staff. Now as a result they would get a higher weight right now they make 216 and our that would go to a 725 and yes. Do you think in and that's our poll question today do you think restaurant servers should be required. To share their tips with a kitchen staff that you would like to participate in our poll you'd go to financial exchange showed dot com. And wow DC that results on the soccer they've really flipped now pedals leaks like reporters said 16%. That's probably knee. And say yes they should have to share in 83%. Saying no they should not. City the you know it is. The 83%. Is siding with the workers right in the 60% deciding with the owners dizzy owners want us. The owners want this because it'll mean that they don't have to pay the cooks than the chefs in the dishwasher quite as much money. That deftly that that's that's where the savings instead get ripped have been. Most Americans. Are buying new homes that have not been started yet they're doing this at a rate that we've never seen before. Yes 36%. Of homes that were sold in October. Have not yet have construction started on the and that is the highest share since late 2005. Which it does sound a little bit ominous when you put it in in that context there. But pretty much the big reason why you're seeing this as we've talked about there isn't enough construction going on it's already shovels in the ground in so people are saying. Look if I need to buy new home. I can't find anything that's that's out there because we're not building enough I've got to build something that might not have a shovel in the ground for three to six months and then I'm kind of buying saying okay to sit on the center line. Exactly I mean I'm in line and I'm I'm still gonna be able to you know get what I want out of this. In that company that gets the order. Is now in a position where they can say well we can hire some more contractors and we can hire some more carpenters and electricians because. We know we've got his back like I mean the backlog must be enormous I don't think the backlog go away like peep people might say this you know it's not necessarily good sign because you know you start doing house inspecting it gets you know eventually you get to a point where no one wants to buy those. That is. You're out right it's there's such a backlog of people trying to get into the housing market but your you need we need to specify. That it's the entry level housing market we're not talking about the two million dollar mansions leave plenty of those for now you need more construction in that you know again. Depending on where you live in the country in the northeast you need more construction kind of an at 30500. In the midwest in more in that 10050. Range that's what you're looking at. In terms of what people are trying to buy right now and and really what we're not producing. All right at variance to. On end you want that house we better pay cash if you wanna buy a house now. Higher percent 28 point 8% of US homes and struck have been all cash transactions this year. In what people are doing news they're borrowing money your generation is borrowing money from my generation and paying cash that house and get to accept that offer. Yea you're seeing an awful lot of that going on your. Or the other piece that you're seeing as well are people borrowing against either brokerage accounts that have gone yet or against you know current property saying look I take at a home equity line and pay cash and common cash offered sell my place and you're seeing those kinds of things happening is people finally have equity in their homes as well. On so it's it's really interesting to kind of watch this happened because right now as you mentioned nearly 30% of transactions are all cash. At this point back in 2011. It was around 40% that was a different time that was it was mostly investors all henchmen eyes exactly but historically through have been around 20/20 1% as what you normally see. Yup and it's 28 point 8% now Bank of America as snitching program truck better if you noticed that the the way it works is let's say you do borrow the money from your old man to buy a house yeah right and just because you wanna get accepted our offer to talk the and his colleague. And he loans you the 400 grand by the house and what Bank of America will do is right after you bought it they'll give you an 80% cash out refi. Yeah but at that that's pretty good and that's it zeal lands what it's good business for Bank of America. Oh definitely make is they know they're gonna get paid to. Think coming up we'll be joined by Adam Johnson from bullseye briefed dot com this is a new thing he did tell me about it guys because I missed. I noticed is gonna give us pretty much a mark it up they were about a month to show therefore he's great just before during one of my many vacations yes one of one of my frequent days off yes. You know there's got. Could be the king. That amendment at its competitors. Could be thinking 58 that's or Dylan next from the financial ingredient. Barry Armstrong. Chunks on breaking business news every day right here on the financial exchange radio network. Hi this is very Armstrong and if your regular listener to my show you know that I talked a great deal about Smart retirement planning each year certain limits are set by the government and these key numbers are critical for you'd understand if you want to maximize your savings I'm not going to be for you the numbers that this is information that can help you play and accordingly and alleviate a lot of unwanted and unnecessary stress call my office right now and 803934001. And ask for my brand new free guide called key numbers for 2018. It's chock full of charts and statistics they can help you and areas of retirement planning that you might need the most that number again is 803934001. Or you can download the guide right now at Armstrong advisory dot com. Security suffer through securities America incorporated member finreg SIPC and advisory services offered through securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group in the securities America companies are on affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. And he spent the last thirty or forty years building your financial planning business he worked hard and your clients rely on your. But what about when you retire you have a team of dedicated professionals who will care for your clients in the same fashion as you do. Have you done about a succession plan for your clients our firm the Armstrong advisory group is a regional firm based in Massachusetts and we're looking to build our business through acquisition we are affiliated with an award winning broker dealer RI AA and we have superior service capabilities we work with clients in all six New England states and offices throughout the region making it easy and convenient to set up meetings if you're interested please contact us through our website Armstrong advisory group dot com or call 803934001. Our advisors have over 100 years of combined experience in the financial services industry call us today at 803934001. Or visit us online at Armstrong advisory group dot com security suffered securities America incorporated member and SIPC and advisory service is opposite securities America advisors incorporated Barry -- -- represented their arms or advisory group and securities America companies are. Unaffiliated hi this is very Armstrong and I've told you for years about my relationship with leader bank I'd been doing business with them for years because they're always coming up with great deals they've got another one that is surely worth your time to check out -- bank is offering in east savings account providing free online banking -- -- one point 15%. Annual percentage -- this is an online product only and there is no minimum balance required so logon to leader bank dot com and sign up today this rate may change without notice until -- log -- to leader bank dot com get all the information about this great offer and sign up today before the rates change get free online banking with leader banks in new. 15%. Annual percentage yield and no minimum balance and remember this product is only available online so logon to leader bank dot com right now -- leader bank dot com leader bank a step ahead. The problems can become disaster support of the adult children has creditor issues or goes through divorce you know the old adage you can't take it with you and that inspires people to start giving assets away as gifts it can be a good strategy but the devil is in the details Cushing in Dolan has written a brand new guide that explains gifting strategies it's pretty by calling 8668485699. You can also download a copy on our website at legal exchange showed dot com just click on the guides and articles that you worked a lifetime accumulating well now you should spend a few hours making sure it stays in your family though right way. Call 8668485699. Or downloaded right now and legal exchange showed dot com. Do you vote on our daily poll question. Had financial exchange Joseph Johns come while you're there fire of the media player and watch the show while you work. This is the financial exchange radio network. This segment of the financial exchanges brought to you by leader bank. If you're looking to diversify your portfolio precious metals are a Smart investment. Gold and silver bullion coins are now available all leader bank locations circle 8776917900. Or. Log on to leader bank dot com for more information member FDIC. Adam Johnson from bulls ivory dot com joins us now talk about what's going on in the markets and how much further we have to go Adam thanks for coming on those. Very Asia pleasure being with you guys. And let's talk a little bit about why we continue to see markets moving higher what factors are behind this at the moment. It's real simple the to ease of earnings and employment I've been talking about them from one. We were talking about them I wouldn't doubt that 20000 men at 43 and we said it's going forty or an hour way to quiet. Earnings and employment are an incredibly powerful -- course. And it's real simple you've got a higher percentage of Americans making the highest. Gross adjusted income. Allowance for inflation are in history. They're spending money and as a result corporations. Setting a record profits in effect. Profit growth in the fourth quarters as Clinton is likely going to accelerate to 12% from 7% last quarter of two integrating their point. That's the story at the forms simply a economic. Well let's talk about tax reform and its potential impact of what does that do I mean obviously we saw the market up about 300 points yesterday. After the passing of the senate bill on on late Friday night early Saturday morning but how much higher could that take this market. So here's the way of looking at a I think that you probably get an additional seven to 10%. Out of earnings from corporate America is based on tax reform in other words. If you lower the rate is it would appear right now from 39 point six to 20%. Yes they're gonna lose some of their production but the rock in a game being like a RD tax credit. Celebrated depreciate here and ultimately I think and that it can't stand to the earnings slide please save yourself wait a minute. If earnings are gonna be there. 10% higher and not just next year. But it your after your after your actor but I should be willing to pay more stuck. And that's what we are yesterday. The fact is you know when a reader market or a point 5% like that aspect you're gonna get the spelling is going to say wait a minute maybe this is as good as it gets but honestly it's gonna get better. And is there anything out there that gives you pause where you say. Hey things are good right now but maybe there's something we need to watch out for 1218 months from now. So I have been the same prolonged sun that we get tax reform and articulate are forgetting that you're going to prolong. The business cycle and I picked up by the way means that you're going to see Republicans called order out and the suspect in 28 you may even in. People are gonna area you might but it may even get down property elected in 20/20 which I think is currently the lady here McClintock Democrat is that so. Adamantly against these tax cut they don't want to see the economy. You welcome that makes it harder and answered is to get back in the driver's seat. What's gonna happen is that I think we're gonna get tax reform I think it's going to enable the economy to keep accelerating by. As that happens and it is the bugaboo that I think. You're really getting at you will see you wage price. Spiral began to do you're gonna start to their economies so much here while we beat inflation now it'll actually relate to the point where. It's concerning a bat point. That that is going to. Raise rates faster than it's doing now and that will start to. Actually put it just. Pull back on them via that liquidity in the system that'll get people nervous and that's. When I think you have an issue that honestly I don't either another eighteen months and. We seem wage growth to this point and all week we've got low unemployment underemployment rate is come down close to historical norms as well. How come we're still not seeing any kind of consistent wage. I think there are a couple of atom mobile wallet and it hasn't eaten this Wednesday. 101008 people wouldn't hold it Andy that he didn't make it won't there be any. All in some cases. More important all that but. More often than not. The hope of being replaced by a millennial don't want apple on where are effectively. You know we went in on the side very good economy. Which means that they don't care. Companies are practically. At the same way is to simulate that it don't have necessarily provide help there that it kind of gone out the door so. That's one of the biggest factors number two. The tactic so what congress is when are you find out what their total crap where he will be complete competition. Means that it. Much harder for companies to any country. You can't really credited. It is therefore a lot harder to actually. And on higher profit that you would have gotten great. In the form of higher wages so I I think there is certain to waste area but the technology as well. Surrogate Adam thank you very much for the time. Capsule that's Adam Johnson from bull's eye briefed dot com bill so house of cards. In the end of the pervert on the show the that in due to the season yet without mr. Spacey. The poor for him in in I don't know if you saw but the I saw a trailer for that movie he was supposed to be in. All the money in the eyes of the original trailer to the I I didn't I never saw the original trailer unless hostile out there so one of the revised ones the other night with Christopher Plummer yelled Christopher Plummer and it and I'm really curious how they in the pre shooting that. To actually make it work I've I've never heard of doing now like re shooting now. The movie in three weeks effectively now I think it was less than three weeks three honest but I mean he was like huge character in the movie so I know a handful of scenes but stole. I mean that's a tight tight deadline tickets Padilla house of cards the the show that effectively launching Netflix is original programming along with orange the new black was at the first one. I have cards and oranges and or barges into black the first two now. And so now it's going to be finishing with Al it's original star so Robin now writes going to be in the lead dip beneath the final season it's only be sushi. She she might have so doing an eight episodes instead of thirteen they're just doing this to kind of wrap up as the as head that way anyway is. So sorry it's a surprise that she's going to be the lead there I just don't know how to gonna do with that space is a little surprised they're doing the season actually. They don't need to which is subscription service like you not to make any money off of this they're they they're also taxing ten other shows we'll tell you what shows Netflix is taxing and just not producing anymore. When we return to the financial exchange rated network. The financial exchange is alive on FaceBook so make sure to like your page and watch the guys break down the latest on the markets every day beginning at ten on the financial exchange radio network. Whether you're celebrating a milestone or diversifying your portfolio precious metals are Smart meaningful investment one ounce and 110 ounce silver and gold bullion coins are now available at all leader bank locations bank locally and buyer gold locally it just makes sense of leader banker calling learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value leader bank. A step ahead hi this is very Armstrong and if your regular listener to my show you know that I talked a great deal about Smart retirement planning each year certain limits are set by the government and these key numbers are critical for you'd understand if you want to maximize your savings I'm not going to be for you the numbers that this is information that can help you play and accordingly and alleviate a lot of unwanted and unnecessary stress call my office right now and 803934001. And asked for my brand new free guide called key numbers for 2018 it's chock full of charts and statistics they can help you and areas of retirement planning that you might need the most that number again is 803934001. Or you can download the guide right now at Armstrong advisory dot com. Dirty suffer through securities America incorporated member finreg SIPC and advisory services are for your securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group in the securities America companies are on affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state and he spent the last thirty or forty years building your financial planning business. He worked hard and your clients rely on your. But what about when you retire you have a team of dedicated professionals who will care for your clients in the same fashion as you do every dot about a succession plan for your clients our firm the Armstrong advisory group is a regional firm based in Massachusetts and we're looking to build our business through acquisition. We are affiliated with an award winning broker dealer RI AA and we have superior service capabilities we work with clients in all six New England states and offices throughout the region making it easy and convenient to set up meetings if your interested please contact us through our website Armstrong advisory group dot com or call 803934001. Our advisors have over 100 years of combined experience in the financial services industry call us today at 803934001. Or visit us online at Armstrong advisory group dot com securities offered to secure America incorporated member and SIPC and advisory service is -- securities America advisors incorporated Barry Armstrong represented their arms or advisory group in the securities America companies are. Unaffiliated this is a special announcement for a landlords chasing down only rent payments and making trips to the bank to deposit checks take hassle out of rent day -- zero liter banks all mine rent collection tool zero automatically deducts tenant's rent and deposited into your account visit WWW duds he ran dot net to learn more would you rent your payments breach unit to receive regularly on the same day every month tenants pay nothing in the first six months or three coral landlords visit WWW dogs he rent dot meant to learn more or call 7816 or 18691. Everybody it's Barry Armstrong and I'm joined by estate planning attorney Todd what's key from the law firm of Cushing in Dolan. And we're talking about. Gifting assets can you explain Todd the differences. Between gifting assets away from an IRS perspective. Vs gifting assets away from Medicaid. Perspective this is a great question because two things one the amount you can give away for an IRS purposes is 141000. Today and come 2018 the news is it's gone up to 151000. Seems to go up about every three or four years yeah it's got to make up by a thousand and our legal guys sell. It'll be 151000. You can give away and what that means from an IRS perspective is that you. Do not need to file a gift tax return and you do not need to pay any gift taxes and you will not use up any of your gift tax exclusion. It is an out right freed. 151000. Dollars to anybody you want to give it to do I need to clear as the recipient that's a question out and yet they you know. Mom gives their son. 101000 dollars and then that sun will call me settlement mom gave me dia a 101000 dollars to have to declare that anywhere from you know absolutely nothing for the recipient and most importantly nothing for the gipper. However the difference is for Medicaid purposes. It will be gate is qualifying transfer. It doesn't matter that it's not taxable for the IRS if you think you can give away 151000 dollars and protect it from the nursing home without creating a five year waiting period. You are incorrect sorry folks it's important to learn how to properly gift you're assets you don't run afoul of the Internal Revenue Service or Medicaid. Call Cushing handle an ID 668485699. Or download the guide right now at legal exchange showed dot com nets. Legal exchange showed dot com or if you wanna call you can do so by dialing 866848. 5699. Like us on FaceBook and follow us on Twitter pax TFC show you. The breaking business news is always first right here on the financial exchange radio network. Is there anybody who doesn't have Netflix. Everybody's. So I'll make up my day about my granddaughter Chad and everybody's got Netflix. And net. Flicks recently cut ten shows canceled. Number one on the list long Meyer he canceled that after six seasons with surprisingly to me about this chuck is. It had a reading long marriage ever watched one where. I've heard of and I've heard good things kind of surprises me yes you heard it I've watched my resulted in as a rating of nine point two at a ten in the canceled. Who's the as the started which is named to the middle and it. While an earlier address Barea yes I thought Barry and watched it and I did but he I don't Hosni yeah I did I why do you watch the show but you don't know who's in I don't care. We I mean you know it's you know Kevin Spacey and something to ultra if you are watching with your eyes they I don't know the guy's name but he's good magazine's wall and and in that Israel Famer his show's name Robert Taylor on our own that is not familiar with Robert Taylor kind of reminds me knees grumpy. Drinks too much so it's like yourself if you were on TV right back in his this year. Data reckon as a student isolating waitress who else he's been in long Meyer cancel Lilly hammer. I wonder who this guy is. Little hammer is canceled slowly around I don't know maybe I watch that using it was for the first season a manager socked. Hemlock grove canceled awful and hit a show called haters back off yeah I watched one episode and I could not stand the main character so you hated it. All caught was about via PayPal haters Chelsea this right by way for as much in this one night. Will that those gusty like a late night talk show sort of form married with Chelsea handler is now what the analysts terrible. Who who is she I keep seeing her name should they were putting on aside from. Be yourself she was huge on the network. Markel poll this was actually good of he has watched this. It had a rating of eat at a ten in the canceled it and an interest rate music news I like the historical sense eight canceled. After two seasons and it never heard the Netflix description from the creators of the matrix and babble on five comes this tense series in which eight people can telepathically experience each other's lives and blame I wonder why didn't work out the the get down canceled after one season. I never heard oral boss girl boss canceled after one season has been real winner five point five audience rating. And that's terrorists that's part of that that's it's it's tough to get a rating that bad from an audience Gypsy canceled after one season had to set an operating. That's actually kind of surprised that it would. Cancel that clicked from. Hub house of cards that can't had a reading so. Long Meyer had a better rating in house of cards. Most house Carter in Britain seven point eight audience audience for N and a bullet with an audience right people watch it you guys are idealized and I'm looking at where they were coming from yes I come from Catholic yet Netflix doesn't do ratings on a scale from one to ten. And many house or house of cards brilliant canceled and then the killing his wife sent. No I didn't my wife theory is that the users remember right totally in the past. I'm giving you some Merrill to the united again. He needed to get get to do you know we don't news again EU evidently didn't write it down you remember you know you watch this stuff. For your wife racy there and and you sit on your iPad anything. It's just a and that's how you stay married for for a Tuesday night that 32 years. 32 years to tell you I try my leaf blower out yesterday that came it was awesome. Bear I'm telling you. This long is spotless of leaves the least for the area was able to do is it was getting dark and I couldn't see believes is a certain point court wouldn't react how long was your extension cord 150 feet thank you very much move. Long court now. Taylor swift's reputations spends a third week at number one why does anybody care. Taylor Swift is like the only person who can actually sell albums and Adele Ching Chang no Adele doesn't sell albums like this. Doesn't she know now lake good taste better musician hers so she has sold in three weeks. One point six million copies. What was Dell's last CD talker 125 press on them depressing zoning when he got out 25 via thank you. So Taylor Swift is done one point six million in three weeks. 25. Let's see. To a porno is a couple years ago. Did it shouldn't. It was very good. When he got the and a fifteen I think right. Alta pulled up but I wanted to try to stir their but yet Taylor Swift being one of the few people who can sell albums but to be he is more talk and dollar Taylor Swift who do you prefer. Upstairs she what does no question. He quick announcement on behalf of Cushing. And dole and you know it's the end of the year. And many of you are gonna see your kids in your grandchildren. Nieces and nephews 'cause Christmas that's you do get together with him. And some of you. Might even be thinking about giving assets away right and they say well honey we've had this whole month he was just give it to the kids who work. You've got some money in the stock portfolio let's give some money to kids or let's write a check to it. Well Cushing handle. Is giving away a guide during the month of December and it's all about the income tax state tax and Medicaid implications. Of gifting assets away. So if you're generous person. In your plane to make gift to a family member or loved one this Christmas you might wanna read the guide before you write that check it's 866. 8485699. And just gave you the number to Cushing handle and you can call them. And receive their guide you should read before you give away. A gift this year. 8668485699. Or you can download the guide at legal exchange show dot colonies go to the website legal exchange showed up on Europe to call anybody. You can just get the gift right now on. Chuck what do what do you think of this story about baseball developing an app for children. You know exactly what I think of this story well this the end of the world community it's this this is a development called. Messenger kids is for kids under age thirteen to be able to participate in FaceBook in a safe ways they can talk to their friends online and immigrant parents. Why then hectic kids need to have. Like FaceBook before their 32 does it because you make humane league near if I do a couple days semen daughters I'd like to be abundantly. Talked them. No wrong wrong at all drive over there. Have raised their parents that what what they need their own account. Use the telephone to use the phone don't this people know what I don't see a baseball game I use the messenger in the you know the video messenger and FaceBook. In hell I'll call oversee them we are we are just become ever ball was just I call it adult calling them might call my daughter and she'll pick up for our perfect and then I get seated but I would I'd rather have direct access to immigrant. As early when your little. I don't think it's a huge step how how old can get a boost that calgon which way. You can I get them FaceBook he can no one year old navigate it he doesn't say exactly how young it will go to says thirteen and under so I I don't know but I just. They are fascinated by the full. I I think it's incredibly distraught as well like all the studies that they know they look at the full when I called a month facetime all of this book. All the studies that come out showing. Any type of use of kids of these devices pretty much shows that a completely ruins their brains actually delighted they have no attention standing you know focus if they can't think they can't reason like where await word with at least these are studies existing studies that yes it just like every study that has been done on the use of social media by children says that it's like the worst potential thing that you can do them setting up phone. Or something and they're sitting on a phone it. And more important morning using social media and the reward structure that to build from like having like some things like that. Is the only reason you know how we talked the other day about how people would always study for the SATs if you paid them yes. I'm wounded vet if you ten years now to be people study for the SATs if you like FaceBook post. I'm I'm not even just like this is the world that we are going to Wear lights are the most important currency that kids like view now in its. Absolutely terrifying to me wonder fade it if we've kind of peaked with our social media and that starts to decline. I hope we lake I I if it's it's really bad at this point you know there's there's. Good reasons for businesses to use it as as promotional tools and so forth. But like. I've been reading like there are certain college counselors out there that are recommending that kids build an online brand on their FaceBook accounts they can advertise themselves to colleges like. What the hell are you doing thing like him no wait that's. Think this is done salt wrong if that's what we're advising kids to do like we don't play baseball go late. A broader something with the BB gun play and an eagle jump broke really bad advice and that's like that about it when you're proceeding on yet they use. He's around you and squirrels and stuff. You don't say yet that you don't see it on the radio nerve gotten him. Hey coming up. Coming up or be talking about Social Security is Social Security cheating the disabled the week time to get a hearing is nearly two years. When we come back will be joined by Margo Roosevelt. And we'll be talking about the topic of applicants for Social Security disability that's next from the financial exchange radio network. The financial exchanges line on FaceBook and YouTube watch Berrian chug discuss the issues of the day and see which one smiles at the most. Days as the financial exchange radio network if you're landlords looking to find an easier way to collect rent payments than you need to hear about leader bank's online -- collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and he rent dot net without the need to collect checks mostly in their dues local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank acquired does he ran technology to Obama called as he ran team at 781 at 6418691. That 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot net. Hi this is very Armstrong and if your regular listener to my show you know that I talked a great deal about Smart retirement planning each year certain limits are set by the government and these key numbers are critical for you to understand if you want to maximize your savings I'm not going to be for you the numbers that this is information that can help you play and accordingly and alleviate a lot of unwanted and unnecessary stress call my office right now and 803934. Zeros -- one and ask for my brand new free guide called key numbers for 2018. It's chock full of charts and statistics they can help you and areas of retirement planning that you might need the most that number again is 803934001. Or you can download the guide right now at Armstrong advisory dot com. Dirty -- -- securities America incorporated member -- SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group in the securities American companies are on affiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state if you're -- looking to find an easier way to collect rent payments than you need to hear about leader bank's online rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and see rent dot net without the need to collect checks mostly in the reduce local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank acquired does he ran technology to Obama called as he ran team at 7816418691. That's 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 78164186917816418691. Or zero rent dot net many of you listening to the legal exchange know that Todd lets you spent his career helping people just like you with their state planning needs a common theme among his clients as the question of legacy claiming we all leave our children in the best possible shape but gifting our assets be at home or vacation property in creating huge capital gains tax problem that the kids used to sell the home. The problems can become disastrous if one of the adult children has creditor issues or goes through divorce you know the old adage you can't take it with you and that inspires people to start giving assets away as gifts it can be a good strategy but the devil is in the details Cushing in Dolan has written a brand new guide that explains gifting strategies it's pretty by calling 8668485699. You can also download a copy on our website at legal exchange showed dot com just click on the guides and articles that you worked a lifetime accumulating well now you should spend a few hours making sure it stays in your family the right way. Call 866845699. Or downloaded right now have legal exchange showed dot com. Security suffered two securities America and members finreg SIPC. Advisory services arbiters securities America advisors Gerry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. They say video ipad's ten pounds. But don't tell Barry in charge in the financial exchanges lives every day on FaceBook and YouTube this is the financial exchange radio network. We're talking about Social Security disability. And if you are obviously. Disable. And you should automatically be eligible for Social Security disability. We're learning that the administrative hearing free disability clean hearing through Social Security. Is taking almost two years joining us to explain that story is Margo Roosevelt. She wrote an article and I think I count caught it on marketwatch.com. But anyway she's good enough to join us on the show today and we appreciate I'm Margot walk into the program. Thank you so much. Our article was he registered. He. It at that time that period of time in. Torre that that very expensive graphic with those numbers the what's happening. Basically. The average time now I'm talking average rate are getting. It is let me use. Even to get it has to have a hearing and vision and Whitney you're. Entitled to it collect the ability. Is and the balloon at 633. Days. And amp M in method that and been some. The average is it gained eighteen months that we are hearing from people who. Are waiting two and three years and sometimes I interviewed a guy who was waiting I. Five years just to get a hearing on his disability claim. So we why her people are caught up in this back Kemp how many. People who are sick or disabled. Or being caught up in this quagmire. Well there are one point one million people who waited an average. 633. Days across the US. That's not by 300200. And him and let it contentment and that took an effort to. You know. How many people are on disability now do you know Margaret. Eight point seven. Million people. In the United States are on disability. That. Somewhat. 2010. When it was seven point eight million. But. Actually the number has started to taper but as. It is ballooned to win that boomer generation the baby boomers. And there it is in an early sixties which isn't. But time when many people become disabled that you worked in a factory. You know your ears back and breaking down memory couldn't get into it. Accident or you can get Kent State get a higher cancer rate notes. Now that people aren't going into their retirement age that has actually started to taper off. Our help me because the. I I read about the scams related to Social Security the one in Puerto Rico if you're call and I think there's another one neither intent ink. Tennessee or Kentucky and that that gives people a jaded view and you know because you read about scanned you save yourself. Well everybody who's on disabilities taking. Well there have been several large. He's. There was one and with its union that was led by a lower there and who both were sentenced to prison. But when it started actually looked at the people who got the benefit it now that the beneficiary is we're in fact that they. Now the Republican congress at. Seen that the very he has a big fraud cases to exaggerate and much there has been done. And they have actually better you know more and more task forces I think it's now up to 39 across the country if there at. Oppose it brought. And they didn't find much did I. Do they find much Barbara when the they look like that fraud. I think they've diverted funds practice inkling of finding pot but in back. A study by the as a security administration that are in more than 1% of beneficiaries don't actually does better than. Since you and your telling me what brought out of the pairing has actually been indicated that of people. Diet. And they admitted that that continues to pick that particular criminal you know the Social Security number of the beneficiary. And you know the benefit of not. People who are not actually been able. See your opinion based on the research you've done Margo is that disability fraud is not rampant right. It is not far from rampant the fraud is actually. Against the disabled who should be getting disability and then not getting it because the hole and is. Broken down. Margo if ten people apply for Social Security disability I'll make a number big hundred people apply for Social Security disability. How many of them will actually be accepted and and and receive benefits. Well three quarters the initial claims that turned down flat. And only a portion of those who would turn down you know an administrative judge. And out of both only a third are ultimately awarded benefit so it's. Less than a quarter. No less than a quarter actually get their benefits from the original hundred. And cut throat Margo thank you very much for bringing this to our attention we very much appreciated and we appreciate your donating your time to the costs. No problem Margo Roosevelt. You know if it's one of those things nobody cares about until toward their family members it'll give you had a brother chuck. And he would apply for Social Security disability mutiny darn well. That he was disabled but he had to wait two years to get and administrative hearing he'd be mad as heck. You would what's interesting is that. In terms. Disability. Claims and so forth. They're predominantly found in the south in terms of successful build disability claims that he what do you attribute that. The wave that the claim structure set up the grid that they have to go through if factors in things such as education. And so when you see only dumb people wouldn't know what you see is that if you only have a high school or lower education yup it's easier to be able to claim disability because they've viewed as you having fewer opportunities for jobs and so. In the northeast if you're someone who as a college education they say yeah you can't go work as a plumber anymore. But you can go works the computer programmer in Iran problem and says they say we're gonna deny your claim because you have a higher level of education whereas if you have a lower level of education. And you can no longer work in a fiscal capacity it's easier for you'd pick up. Claim him. I I just think back to the fraud issue and you know when you see fraud. It drives people crazy you know because he sing like Jiri comes at your paycheck comes out of my paycheck every couple weak right we contribute to Social Security disability. So if there's one fraudulent case. It bothers people like to know and he lets go back Tucker and take a look at our poll in the restaurant story. We asked if restaurants servers should be required to share their tips of the kitchen staff only 15%. Said yes they should. 85% of you saying no they shouldn't have to share. Mark it is kind of flat to catch up. Not a whole lot of movement. All right we'll see you tomorrow from the financial exchange with him.