Some helpful advice for protesters
by digby
Spicer says nationwide protests of Trump are not like Tea Party was: This is “a very paid AstroTurf-type movement” pic.twitter.com/WEeGpoP2sK— Bradd Jaffy (@BraddJaffy) February 6, 2017
If you, like me, are among the millions of protesters being paid by George Soros, you undoubtedly could use some investment advice. In these turbulent times it’s tough to know what to do with your protest pay.
Harold Pollack has some advice for you:
Finally someone has called attention to this important alternative issue. Paying millions of protesters was bound to be a challenge. Even so, this whole protester pay thing has got to be the most poorly-planned shambolic logistical mess of the Trump era.
As you might imagine, my own inbox is flooded with calls and emails from liberals wondering how to most prudently invest their Women’s March pay, whether they should wait for the 1099 before filing their taxes, whether parking and cardboard signs are tax-deductible, and so on. Apologies to the many RBC readers waiting for my responses.
Everyone’s personal situation is different. Generally speaking, I’d recommend that every protester open an SEP-IRA account for these earnings. You can contribute up to 25% of compensation. But regular protesters should be mindful of the maximum contribution limits: $53,000 for the 2016 tax year, and $54,000 for 2017. Something like the Vanguard Total Stock Market Index Admiral fund seems appropriate if your protest pay exceeds $10,000.
I believe the Vanguard site is back online after being crushed with Women’s Marchers opening new accounts with their January 21 paychecks. You might still want to login after midnight when the traffic is a bit slower.
So much of the operational chaos might have been avoided had the Soros people simply allowed direct deposit. Live and learn.
Words to the wise. I have a call in to find out if I can deduct my pink yarn and sharpee expenses. I’ll keep you posted.
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