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Montana Legislation Amends Annuity Laws
April 15, 2022

What is the purpose of legislation amending or creating laws referring to annuity plans? At the state level equity index annuities are protected and regulated. Non profit guaranteed companies are in charge of the regulations and if an insurance company fails, then guarantee associations pay claims up until the state’s statutory limits. The average amount of annuity protection by a guarantee association is $250,000. So, what is the purpose of legislation amending or creating laws referring to annuity plans; it is to protect the insured and the finances. 

In simple terms, annuity plans are a long-term contract between the insured and an insurance company that allows you to accumulate a certain amount of money on a tax deferred basis and later be paid in the form of guaranteed income. In other words inequity index annuity plans are a financial tool that pays a fixed stream of payments to an individual and is used primarily as an income stream for those who are retired. Not everyone can afford to put away enough money to retire comfortably with just a Roth IRA or 401K, that is where an annuity product becomes necessary.

Section 1 of the 2021 Montana Legislature, states that the purpose of the amendment is to insure that the producers are required to act in the best interest of the consumer when they are making recommendations of any annuity and requires that the producer also establish and maintain a system to supervise recommendations so that the insurance needs and financial objectives of the consumers are effectively addressed. 

Section 2 of the Montana Legislature goes over the exemptions from the new amendments, but does not apply to recommendations involving unless specifically included in the legislature. 

Section 3 goes over definitions of importance such as, defining select words or phrases and ensuring that anyone who reads the legislation would properly understand what is expected from the new amendments. As well as defining, this section describes information for a “consumer profile information” that would be considered appropriate for determining recommendations that address a consumer’s financial situation..

Section 4 amended subsections 33-20-805 to read, “Duties of insurers and producers– best interest obligations.” and so one to ensure there was a much better understanding of the law. Section 4 has the most amendments and is worth going over.

Section 5 also amends 33-20-806, MCA to read, “Compliance mitigation–penalties–enforcement.” Section 5 goes over these three aspects of the amendments. This is to ensure that insurers/producers are held accountable for any actions or inactions that cause violations of the laws.

Section 6 covers 33-20-807 and focuses on producer training. This section of the amendment goes over what a producer can legally do and not do, such as suggest a product they do not adequately understand.

The reasons amendments to laws are so important in general is because as time goes on things change, such as amendments to the constitution that has protected children. Legal marriage age has gone up and other abuse laws within just the past 55 years have made strides in protecting children and minors, thanks to amendments. Without amendments to country and state laws, many laws would be outdated and nearly impossible to enforce. The amendments to the 2021 Montana Legislature were needed and just in order to protect those who have interest in annuity plans and quotes. An equity index annuity can be an amazing retirement income supplement and helps many people around the USA and these amendments just ensure that equity index annuities will be able to continue helping millions of people.

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5 Foreign Policy Challenges President Joe Biden Has to Deal With
February 26, 2021

The foreign policy regimen under Donald Trump’s leadership was an escape from the norm. The former president emphasized on an America First approach that reset the government’s view on trade, foreign policy, and immigration. Now that Joe Biden is in office as the 46th President of the United States, he’s expected to reverse many of the actions took by the Trump administration. This article highlights the 5 key foreign policy challenges that are in President Biden’s in-tray.

1.      Restore Alliances and Re-Assess Competition with China

Xi Jinping
Chinese President Xi Jinping

China is considered to be an emerging global superpower in many areas including economy, technology, military, diplomacy, and soft power influence. The country’s economy is projected to overtake the US faster than expected – particularly considered that our country took a harder hit from the COVID-19 pandemic. China has also been identified as the greatest long-term threat to the US. The animosity brewed between China and the US during president Trump’s regime does not make anything better.

It is up to President Joe Biden to pool allies for a united front against a rising China. So far, president Biden has said that he may keep some of the existing tariffs in place as well as expand sanctions in response to human rights violations. Analysts however anticipate that the Biden administration will take a different approach from the strong-armed strong exhibited by the Trump presidency.

2.      Tame Russian Aggression

Vladimir Putin
Russian President Vladimir Putin

Russian aggression is considered to be a more urgent threat to American interests and influence around the world. Vladimir Putin seems to be on a rampage, with a cyber army that has breached American government and private sector systems multiple times. The Russian military and mercenaries are already engaged in conflicts all over, ranging from Syria to Libya, Venezuela, and the Central African Republic. Most recently, Putin’s government is accused of poisoning his chief critic, Alexei Navalny using chemical weapons and later jailing him on cooked-up charges.

Many analysts expect that President Biden will take a harder stance on Russia than Trump, who appears to have played to Putin’s tune on more than one occasion. Sanctions imposed on Russia in response to its aggression against Ukraine will likely continue. Already, Mr. Putin’s spokesperson has been quoted as saying they expect ‘nothing positive’ from the change in U.S. Administration.

3.      Get Ahead of the North Korea Nuclear Menace

Kim Jong Un
North Korean Leader

Donald Trump demonstrated one of the most vibrant approaches for addressing the North Korean perennial menace. President Trump went as far as meeting the pariah nation’s dictator leadership. While this did not stop North Korea from owning nuclear weapons, it at least put a ceasefire on the exchange of Armageddon threats between the two countries. Nonetheless, many strategists are worried that Donald Trump’s personal diplomacy may have given North Korea enough time to build more weapons.

As things stand right now, President Biden’s government will find itself in a position where it has less bargaining power. They may be forced to evaluate the possibility of pursuing an interim deal that at least puts a freeze on North Korea’s nuclear program. So far, President Biden has said that he is open to negotiating with Kim’s regime, but not Kim Jong Un himself.

4.      Tackle the Iranian Problem

In July 2015, the Obama administration (along with France, United Kingdom, European Unition, Germany, and China) signed a deal with Iran. It required the country to limit nuclear activities in exchange for a lifting of sanctions. In 2018, then President Donald Trump announced that the US would be leaving the Iran nuclear deal, negating any gains that may have been achieved with the initial agreement.

President Joe Biden now finds himself in a situation where he has to deal with an Iran that has higher levels of enriched uranium. The president has so far said that he is considering returning to the original deal if Iran commits to strict compliance. Iran’s leaders, in response, say that they ought to be compensated for the economic damage resulting from Trump’s sanctions.

5.      Address Climate Change

The Paris Agreement was a binding international treaty signed by 169 parties in 2015 to limit global warming. In 2017, former US President Donald Trump announced that the country would stop all participation with this accord. Mr. Trump’s main argument was that the agreement would put his country at a permanent disadvantage and undermine the economy. While this move was criticized by many allies, some experts argue that much more than an agreement on paper is needed to tackle the worsening climate change situation.

President Biden will have to pursue more robust measures as well as try to re-establish cooperation and goodwill with allies on this subject. China may be less reluctant to cooperate particularly given the animosity and spirit of competition between itself and the US.

Conclusion

Other major issues that will need priority attention from the President include migration and ending America’s war without increasing the risk of terror, as well During his first few weeks in office, President Biden has already signed dozens of executive actions to reverse many of Trump’s policies and set the direction for his own foreign policy. 

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Presidential Politics

Will Donald Trump Run for President in 2024?
February 19, 2021

Donald’s Trump last days in office were an almost unprecedented show in American politics. His alleged involvemen t in the capital insurrection also resulted in him being the first ever president in the country’s history to be impeached twice by the US House of Representatives. As Mr. Trumps eventful presidency fades beyond the Horizon, many are wondering whether he may pursue a White House comeback in 2024.

While it’s still too early to tell and things in politics tend to change really quick, this article explores the possibility that it might actually happen.

What the U.S. Constitution Says

The 22nd Amendment to the United States Constitution spells the number of terms when a person maintains eligibility to vie for the U.S. presidency. This constitutional clause limits the number of maximum presidential terms to two. This not only includes anyone who has held the office of President but also individuals who may have acted as President for over two years of a term to which someone else was elected president.

In the case of Donald Trump, the former U.S. president can still vie for another term during the next elections round. Perhaps the only obstacle to this would have been a successful senate impeachment, which did not happen because republican party senators decided to acquit the president.

Signs Trump May Vie in 2024

1.      The president’s own hints

During a holiday reception held at the White House in December 2020, Donald Trump seemed to flat the idea of running again in 2024. “It’s been an amazing four years. We’re trying to do another four years. Otherwise, I’ll see you in four years,” the former president told a crowd. This appeared to be an acknowledgement that he knew he could have lost the election and was already contemplating vying for the presidency on the next available chance.

2.      Influence from close allies

Donald Trump has been urged to vie again as a ‘martyr’ by Brad Parscale, his ex-campaign manager. Mr. Parscale believed that the second impeachment trial only served to make Trump more popular with his MAGA base. There are also scores of Americans who are still convinced – despite the record stating otherwise – that Mr. Trump did not lose fairly to Joe Biden. These might be excited about a second Trump presidency in 2024.

3.       Good relationships with republican base  

The president seems to maintain a better-than-expected relationship republican leadership. While some republicans have publicly stated that Trump ‘is on his own’, most are reluctant to burn bridges. The fact that 43 (out of 50) republican senators chose to acquit Trump in the impeachment trial is the best indicators of this. The invitation for Mr. Trump to speak at the Conservative Political Action Conference (CPAC) held February 2021 in Orlando, Florida is yet another sign of how things sit between Donald Trump and his conservative base.

4.      He is unlikely to leave political spotlight.

Trump loves the limelight and hates to lose. While he was permanently banned from Twitter, it may be just a matter of time before he’s back again. According to GOP strategist Patrick Griffin, “He will probably buy or start a TV network with a robust web and social media platform attached to it, might even buy a couple of newspapers, I think he continues the rally tour.”

Conclusion

Analysts are coming up with all sorts of theories while trying to answer the question of whether trump will vie again in 2024. However, this remains to be known for sure until the former president himself makes an unambiguous public statement regarding the same.

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Presidential Politics

Government Long Term Care Insurance, Politics of the Class Act
December 15, 2020

Back in the Obamacare battle of 2009 the democrats were pushing the health care reform bill but had little support because the bills was extremely expensive. The democrats knew that the bill was not budget neutral so they decided to plant a trick inside the bill or let’s call it a Trojan Horse. It was slipped in by the late Ted Kennedy and it was called the Class Act Long Term Care Insurance benefit.

The plan would provide a very minor benefit of $50/day of long term care insurance benefits but the premium would be three times what a private plan would charge. Also, no one could use their plan for the first five years yet they had to pay premiums day one. The slick politicians knew that the average voter could not follow their slight of hand so they counted those premiums from the long term care insurance benefit and put them towards the cost of the Obamacare bill in efforts to hide it’s real cost.

We all know the Obamacare bill was eventually rammed through the senate by reconciliation on Christmas Eve with just 51 votes. A couple years later after word got out that the Class Act long term care insurance bill was even in the bill it was taken out because the actuaries said it would not be sustainable and would soon have a financial death spiral.

This example of politics and insurance show why they two don’t mix. This government long term care insurance disaster just proves that if you truly want to protect your family you must do it yourself. This long term care insurance brokerage company called LTC Tree has a decent site and it looks like you can get long term care insurance quotes from the top few companies.

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Obamacare

Major Reasons Behind Workplace Politics
June 11, 2016

Office politics happens when employees try to get something that’s beyond their control by tarnishing their colleagues’ reputation. Workplace politics can indeed damage your business. Studies suggest that employees who are involved in office politics spend less time paying attention to the work that they’ve been hired to do. Most people who play office politics tend to misuse their powers in order to gain the attention of the attention of the management (or their superiors). Understanding office politics can help you prevent an impending decline in productivity. This article highlights some of the key reasons why people engage in workplace politics.

1.      Getting into the Limelight

There’s a section of employees who go to work just for the sake of it. They don’t believe in working hard in order to get results. These individuals tend to divert their energies to nasty politics in an attempt to create a not-so-pleasing image of their fellow workers in the eyes of superiors. Indeed, this is understood to be the main motivation behind workplace politics.

2.      Personal Relationships

Sometimes, workplace politics results from personal relationships amongst employees. This happens when some employees get out of their way in order to protect or support a relative, neighbor or friend at the workplace. By doing this, they mix business with their personal lives. They fail to understand that no special favors should be applied when dealing with others at the workplace.

3.      Blame Games

Blame games are a common occurrence in today’s competitive workplace. In an attempt to endear themselves to seniors, some employees will try to shed a negative light on their peers when something goes wrong. Instead of controlling their tongue, they always find fault in others. Rather than do this, responsible employees will listen to each other, and treat others’ opinions as important. They learn to shoulder their own responsibilities and admit it when they do something wrong.

4.      Lack of Trust

Trust is a crucial ingredient of interpersonal relationships. In the workplace, employees share various secrets and important information amongst themselves. If someone gives you confidential information, you shouldn’t go talking about it to anyone who wants to listen. Have it in mind that it’s human relationships and trust that helps you in the long run.

5.      Manipulations

Some employees try to manipulate information in order to mislead their superiors or the management of the firm where they work. By doing this, they cultivate nasty politics which ends up impacting others negatively and leading to lost work time for the business.

6.      Gossips

Workplace politics also happens when employees are involved in unnecessary gossip. Criticism, leg pulling, hatred, and backstabbing all lead to politics. Jealous employees will do anything to make sure that their peers do not do better. These are some of the common issues that lead to the negative practice that’s office politics. Most businesses lose a lot of paid-for staff time just because they do not acknowledge and tackle politics. Organizations should come up with a policy that discourages politics and other unethical workplace practices that do not work to the benefit of the business.

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4 Things You Probably Didn’t Know About Donald Trump
May 19, 2016

Despite numerous attacks on his credentials, mostly due to divisive comments that he’s made on the campaign trail, Donald Trump appears to be leading the Republican bandwagon. A billionaire real estate mogul, trump is an interestingly colorful and popular candidate, probably due to his work with celebrities, and also as a result of his ‘The Apprentice’ show. Definitely an influencer in this year’s race, here are 4 things you probably didn’t know about Donald J. Trump.

#1 His Family’s Last Name Used to be Drumpf

According to biographer Gwenda Blair, Trump’s family name used to be Drumpf, before evolving over centuries to ‘Trump’. According to Gwenda, one of Trump’s ancestors changed the name during the 30 years’ War in the 17th century. This revelation has recently led to a lot of fun on the internet, with users initiating the hashtag #MakeDonaldDrumpfAgain on Twitter.

#2 He’s Not Self-Funding His Campaign

Donald Trump has said, on multiple occasions, that he’s not party to any special interests because he’s self-funding his campaign. This is not the case. Yes, the billionaire businessman has already given about $20 million to his campaign, but he’s also taken over $7 million in individual contributions.

#3 He Had Various Business Failures

Donald Trump is very successful in his real estate business, but he’s had his fair share of failures with other businesses. For instance, he listed Trump Vodka, which was later discontinued. He also folded up ‘Trump Magazine’, Trump World Magazine, and the travel booking GoTrump.com. More so, he’s already being sued for Trump University, which other politicians have said is fake. According to John Oliver, who hosts the ‘Last Week Tonight’ program, several trump-branded real estate developments have attracted a number of lawsuits targeting the businessman. Oliver was reportedly quoting an investigation by CBS News.

#4 Takes It Seriously When People Insult His Hands

Marco Rubio recently poked fun at trump’s ‘small hands’. “You know what they say about men with small hands?” Rubio’s insult isn’t new. In 1988, a satirical magazine known as ‘Spy’ referred to Trump as a ‘short-fingered vulgarian’. The billionaire reportedly didn’t take this well. Although the magazine is now defunct, Graydon Carter, who used to be an editor, says that Trump has sent multiple photos of him, circling his hands in a valiant effort to demonstrate the length of his fingers.

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Senior European Leaders Warn the UK against Leaving EU
April 10, 2016

At least, two very senior figures have warned against the United Kingdom leaving the European Union. This, they say, would have dire economic and political consequences for the EU, and the UK. Britain is headed towards a June referendum that allows its citizens to weigh in on the issue of whether or not their country should leave the union.

Finance Ministers

According to Italian finance minister, Mr. Pier Carlo Padoan, a departure of British from the EU could trigger a domino effect in which other Eurosceptic nations would feel embolden to unmask their own exit plans. Wolfgang Schauble, Germany’s finance minister, has claimed that an out-vote by the UK would poison the economies of the UK, EU, and other world economies. During an interview held with the guardian, Pier also suggested that Britain’s departure could lead France to do the same during next year’s presidential elections. Currently, anti-European parties appear to be gaining a lot of support.

Both Schauble and Pier have warned that the UK would find it hard to negotiated free-trade deals with other member states if it left the EU. The Italian minister reiterates that instead of leaving the EU, Britain should seek to pursue deeper integration. For instance, European finance ministers could join up and craft a growth-oriented Eurozone economy that would place more emphasis on job creation, as well as controlling inflation. A bond-financed immigration plan has also been proposed as a possible route towards enhancing the Unity of the European Union. Other options include a common banking insurance fund, a European unemployment insurance fund, and a deeper single market. His comprehensive plan has been published in a paper issued by Italy’s finance ministry.

Italy’s Front Runner Role

Mr. Pier’s reform program is seen as an ambitious push to preserve the unity of Europe. Over the last two years, Italy has developed to be a key force in the Union. Italy has also been pushing the EU to press Germany to enhance investment and degrade its current account trade surplus, which has held back the rest of the continent by creating unemployment and low growth. Italy’s plan is being promoted across the EU by the country’s diplomats. It’s unclear whether it’ll really have a lasting impact on the future of the EU.

Britain’s Stand

Britain doesn’t necessarily think that it could lose as much by leaving the EU. According to Boris Johnson, a British politician, Journalist, and Historian, the UK could negotiate a better trade deal from the outside. Britain wants to take advantage of free trade arrangements but isn’t happy with the top down legislation and regulations subject to EU member states. The disagreement is one of policy, and it’ll be interesting to see what direction the referendum takes. Whether the UK stands to lose from leaving the EU remains to be seen. But right now senior EU leaders are doing everything they can to safeguard the unity of the continent!

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