Chian Federation Presents Tax Lecture
By Catherine Tsounis
“When there is an income tax, the just man will pay more and the unjust less on the same amount of income”, by Plato, (Ancient Greek Philosopher, who was the world’s most influential philosopher, 428 BC-348 BC).
Nicholas G. Poulis, CFP®, CPRC® presented an impressive lecture on Friday, February 15, 2013 evening in the Hellenic-American Cultural Center of the Chian Federation at 44-01 Broadway, Astoria, New York. “Beyond the Fiscal Cliff: The Political & Fiscal Landscape and the Challenges that Lie Ahead for Investors” topic focused on the top economic predictions of 2013. He believes “the US economy will gradually pick up steam, unless it falls off a cliff. The dynamics of US recovery are in place. Us consumer spending has turned positive. Economic growth will average around 2% in 2013. European growth will be weak in the north and negative in the South. Southern Europe will remain deep in recession with austerity and very high unemployment. Overall Europe growth will be around .2% in 2013.”
The financial Planner believes “China’s economy will slowly gain momentum and will have an 8% growth. Other emerging markets will show growth. The best markets seem to be in Asia due to domestic demand growth and more stimulus. Commodity (oil, gas copper, iron, etc.) will remain roughly the same. Low inflation is expected to continue through 2013.Central Banks will mostly be in wait-and-see mode. When world economies begin to look better, they will be neutral and may put monetary policy on hold.
Fiscal policy will become tighter that will most likely reduce the deficit. The US dollar will be stronger against the euro and flat against the rest. The risks facing the global economy will be balance. The American Taxpayer Relief Act of 2012 (ATRA) …will include 600 billion dollars over ten years in new tax revenue without any cuts in spending. Possible changes will be in mortgage interest deduction. Investors should pay down mortgage debt, start tax deferred retirement plans, invest in annuities and life insurance and other managed tax investment strategies.”
Nicholas G. Poulis, a Certified Financial Planner, Retirement Planning Specialist is a 28 year veteran of Morgan Stanley with a focus on investment and financial planning strategies and solutions to high net worth individuals, corporations, non-profits. He also teaches and lectures on current financial topics and strategies in the New York metropolitan area. Mr. Poulis, Chairman of the Chios Relief Fund of the Chian Federation, said “we send five thousand a month to Chios for supplies to the soup kitchen. We are feeding 570 families currently.” Visit https://www.facebook.com/pages/Help-Chios-Relief-Fund/113178142139764. For more information please contact the Chian Federationʼs office at 718-204-2550, or [email protected].
Photo 1 – Nicholas G. Poulis, a Certified Financial Planner, Retirement Planning Specialist is a 28 year veteran of Morgan Stanley.
Photo 2 – Participants of the lecture.