Friday, July 25, 2014

Bailed out banks help rich hide taxes

Banks we bailed out in 2008 help rich Americans avoid tax with “fiction”
A hedge fund’s investors probably avoided more than $6 billion in U.S. income taxes over 14 years through transactions with Barclays Plc and Deutsche Bank AG, a Senate committee said. The hedge fund used contracts with the banks to establish the “fiction” that it wasn’t the owner of thousands of stocks traded each day, said Senator Carl Levin. The maneuver sought to transform profits from rapid trading into long-term capital gains taxed at a lower rate, he said. “It meant enormous profit for both the banks and the hedge funds,” Levin said. “Ordinary Americans had to shoulder a tax burden of billions of dollars, a burden that was shrugged off by those hedge funds.”

Fix corporate tax evasion like we did for Capone
Supremes say ‘corporations are people’ so Justice Dept can sue for tax evasion. Justice can show revenue hidden worldwide. People must declare income made anywhere in world. Corporations don’t declare all their revenue to the IRS so they are guilty like Capone. Must pay and go to prison like Capone. The lesson of The People vs. Al Capone is that a profitable businessman, no matter how he earns his income, does have to pay his taxes. Judge Wilkerson would not plea bargain and he replaced all the jurors who were bribed with future jobs. Justice proved Al had control over profits made in many locations.
Don’t get stuck paying Apple, Google, GE taxes. Evade paying tax bill of Apple, Google, GE, etc using the IRS-own Roth IRA §408 trust.

Young Americans need money course
18-29 year-olds are more likely to choose cash as their favorite ‘long-term’ investment than any other age group, according to a new Bankrate.com report. Thirty-nine percent say cash is their preferred way to invest money they don't need for at least 10 years!! The fact is that the S&P 500 has gained 11% over the past 30 years while most cash funds yields remain below 1 percent. A market index fund would provide $500,000 at retirement vs. $150,000 for cash. "They won't get there without being willing to assume a little short-term price risk in their long-term money," said Greg McBride, CFA, Bankrate. Take the Money Course for $20: http://www.amazon.com/Personal-Finance-Online-middle-person/dp/1500522120/

GOP crazies
Some republicans oppose the uniform fiduciary duty for retail investment advice — a move that would force brokers to legally act in the best interests of their clients. Why oppose?
Rep. Lankford of OK argues that investment advisers aren't interested in helping investors who don't have much net worth. So he is against the regulation that he says will be “creating a regulatory scheme that discourages middle- and lower-income Americans from investing” by foisting higher regulatory and liability costs on brokers and driving them out of the advice market for those with modest assets. “If there are fewer people offering products to [investors], they're losing the encouragement and opportunity to invest,” Mr. Lankford said. Being an honest broker is NOT profitable?
This means he wants brokers to be able to screw people for their own good.

Bachmann: “there's a chance I could run" in 2016
Bachmann entered the last presidential race in June 2011 as a long-shot contender but was able to use her sway with elements of the Tea Party and an effective media campaign to rise temporarily toward the front of the Republican pack in a deeply fluid race.
The high point of her candidacy came in August 2011 when she won the Ames Straw Poll in Iowa. But in the interview, Bachmann alluded to her fundraising prowess as a reason she should be taken seriously, calling herself "one of the top -- if not the top -- fundraisers in the history of the United States Congress."
Ms Bachmann is now a Swiss citizen and perhaps the Swiss will fund her pac.
She is on the House Intelligence Committee, after all!

GOP votes to sue the President of the United States of America
Republicans in the U.S. House of Representatives on Thursday took another step toward authorizing a lawsuit against President Barack Obama, claiming he has overstepped his executive powers. In a partisan vote of 7-4, the House Rules Committee approved the legislation, likely setting it up for consideration by the full House next week. Boehner wrote that Obama's use of executive orders, including raising the minimum wage for federal contractors and stopping deportations of undocumented youths brought to the United States by their parents, risked giving him a "king-like authority." The House will use our tax dollars to pay their lawyers to sue and other lawyers to defend.
In 1968, Supremes found in favor of Nixon, holding that the president "is entitled to absolute immunity from damages liability predicated on his official acts." The theory goes that subjecting the president, who routinely makes decisions that alter the fortunes of millions of citizens, to such lawsuits would cripple his ability to preside effectively and distract him from the job. These Supremes are straight GOP so Obama loses.
Wasted taxes since Obama will be gone by the time suit gets decided.

40 US corporations avoid taxes yet take our taxes and our jobs
Yes, the joke is on us. Companies like Ingersoll Rand claim Burmuda as home but take huge government contract work which is supposed to only go to American firms. Congress passes laws but then allows lobbyists to put in “exemptions” and legal BS to get around the laws. Good for CEOs and large stockholders but not for US long term.
We are literally giving away our taxes and our jobs to help a few 'foreign' firms. 


Ryan pushing 70s block grants again—let the states help whoever for less
Rep. Paul Ryan spelled out his plan Thursday to fight poverty, combine 11 federal programs into one pool of money for participating states. According to the plan, states would voluntarily submit their own anti-poverty proposals in order to get money. "And the state would get more flexibility. It would get to combine into one funding stream 11 different programs, things like food stamps, housing assistance, child care, and cash welfare." Ryan’s budget proposals called for billions in cuts to social welfare programs, such as Medicaid.
Many states tried block grants in the 70s and they failed to help the poor for many reasons including deep, arbitrary cuts in support to the most vulnerable seniors,
individuals with disabilities, and low-income children. Christie buys helicopter?


Your UBS account fees are going up
As UBS Wealth Management Americas begins moving many of its clients into cheaper classes of mutual funds, the firm is asking advisers to consider raising their annual fees for those clients. Many of the firm's approximately 7,100 advisers were told that their clients' fees will be raised. The firm is also increasing the amount advisers have to charge for non-discretionary managed account programs in order to avoid penalties. Avoid fees; earn more by moving to low-cost investments: http://www.amazon.com/Pay-less-Get-more-investment/dp/1500598321

Your 403b plan fees are being challenged
Not-for-profit employers are being pressed to lower fees to employees but most plans include expensive annuities. Employees have been overcharged for benefits they don’t use and poor investment performance. Employees who leave must pay huge surrender charges to move their nest eggs to IRAs or new employer plans. Employers must now comply with costly regs: auditing requirements and strenuous reporting mechanisms. Most employers did not pay for the plans’ administration so they did not care about the costs. Now they care. Hopefully this will lower costs for the next generation. Unless there is an employer match, employees are better off with an IRA:  http://www.amazon.com/Your-Pension-Box-tax-FREE-employer/dp/1481945157


Does your teen use a safe car?
Vehicles on this list earn good ratings in the IIHS moderate overlap front test and good or acceptable ratings in the side test. If rated by NHTSA, they earn 4 or 5 stars overall or 4 or 5 stars in the front and side tests under the old rating scheme. They also have standard ESC and a better-than-poor rating for head restraints and seats. Adding a teen driver to a couple’s policy ups the premium by 100% on average.

DEM crazies protest Supremes decision on control of women
"Women should call the shots when it comes to their health care decisions. Not their boss. Not their government. Not anyone else. Period. ... Five men on the Supreme Court rolled back the clock on women across America." Voting 56 to 43, Democrats failed to rustle up the 60 votes necessary to proceed to a final vote. Three Republicans, Sens. Lisa Murkowski, R-Alaska, Susan Collins, R-Maine, and Mark Kirk, R-Ill., voted for the measure. Women’s health now depends on the religion of employer.

FL town police infiltrated by KKK
FL residents were told officers Borst and the Hunnewells had been members of the Ku Klux Klan, though its presence in their town wasn't noticeable. The Florida Department of Law Enforcement sent the police chief a report linking the officers to the Klan based on information from the FBI. Both men didn't return repeated phone messages to their homes, but Borst told the Orlando Sentinel he has never been a Klan member. As recently as the 1960s, many in law enforcement in the South were members but "it's exceedingly unusual these days to find a police officer who is secretly a Klansman," said Mark Potok, a senior fellow at the Southern Poverty Law Center, which monitors hate groups.

Do you know what to do with an inherited IRA?
Don’t turn it over to your advisor/broker immediately. This account is an estate planning tool and could be worth 7 or 8 times the current value if handled correctly. See a certified IRA specialist like those from https://www.irahelp.com/find-an-advisor. Learn what you need to know so you aren’t misled. http://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016

Salespeople told to sell the ‘story’ not what you need
Insurance agents and financial advisors would do themselves a favor if they held off on the pie charts, the statistics and the tables, according to Carol A. Harnett. Instead, advisors should approach prospects through storytelling to connect emotionally with prospects because it’s more effective, said Harnett. “Start telling stories from the audience perspective and you start to gain their attention,” said Harnett.
Buy only what you need NOT what they are selling and save: http://www.amazon.com/ Personal-Finance-Online-middle-person/dp/1500522120/




SCAMS           Why are we still paying $700 Billion a year for WWII deployments?
We are paying for 164,253 of our active-duty armed personnel to be in 150 countries around the world. We have about 50,000 in Japan and 50,000 in Germany.
Are we preparing for WWII again? There are 1,208,083[1] armed personnel in the United States. Our taxes pay for about HALF of the WORLD’s military expenditures every year. We have wasted $398.6 billion so far on the F-35 program—they can’t fly safely.
We just can’t afford to pay for everyone else’s defenses anymore.
Japan, Germany and S. Korea can pay for its own defense.

Who Owns Your Account Now?
Sunset Financial Services to Securities America.
OneWest Bank to CIT Bank

IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
973.746.2014
Alerts available at http://dankeppel.blogspot.com/



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Friday, July 18, 2014

Congress allows corporations to evade taxes--we pay

Congress allows corporations to evade taxes--we pay for them
More tax dollars are leaving the country as more US firms demand tax breaks to stay. Walgreen got $millions in tax breaks from IL and then decides to leave. We are being blackmailed and Congress does nothing. Even Fortune magazine sees the collapse in tax fairness coming. Coast Guard rescues Miami-based Carnival distressed Triumph and avoids taxes to pay its fair share. These corporations use our ports, roads, courts, communities, military hegemony, banking and capital markets but don’t pay for them. Forbes blames our tax rate not being as low as 5%. The 1%ers already got their tax cut.
Don’t get stuck with their tax bill. Start paying your fair share:

More drug firms escape taxes
AbbVie plans to buy Shire and base the new company in the U.K. to benefit from its lower corporate tax rate. The move is part of a wave of U.S. health-care companies looking to take advantage of European deals to lower their taxes. Also Mylan of Canonsburg, Pa., agreed to buy pharmaceutical assets from AbbVie's former parent, Abbott Laboratories that will create a new entity organized in the Netherlands. Tax considerations appear to be the primary driver in AbbVie's courtship of Shire. Shire's tax rate was 17% and AbbVie's was 22.3% a difference of only 5%.

Young women turn away from advisors—using internet tools and save
About 45 percent of baby boomers use a financial professional compared with 31 percent of Gen Xers and 15 percent of millennials. “The declining use of financial professionals may be due in part to the vast amount of investment research and tools available on the Internet, which millennials and Gen Xers are often more likely to use than baby boomers,” said Lori Fouché, CEO with Prudential Group Insurance. Nationally, only 31 percent of women use a financial professional, down from 48 percent in 2008, according to the Prudential study. With one in five women saying financial professionals don’t understand their needs, using jargon and a hardcore product sell is part of the problem. Women make better decisions when they find their own solutions. Cut out the middle person and Save: http://www.amazon.com/Personal-Finance-Online-middle-person/dp/1500522120/


Best mutual funds from last year fail for this year
For funds in the top quartile in March 2012, only 3.78% maintained that position in March 2014, a new study said. “Very few funds can consistently stay at the top,” according to the report, authored by the index provider's director of global research and design, Aye M. Soe. “The figures paint a poor picture of the lack of long-term persistence in mutual fund returns.”
This study confirms that there will always be a top performer for the year but you can’t use past performance to pick it. With 9,000 funds, one will always top next year’s list—just not predictable.
An unbiased Morningstar study of all funds showed that “In every single time period and data point tested, low-cost funds beat high-cost funds.” Cost is the best predictor.

Why your health insurance costs so much
Some health insurers pay their CEOs so much they make the top 10 on pay day. Aetna paid CEO over $36 million  so a good part of your premium goes to one man. Does he really help your health or even Aetna stockholder’s health? Could the company follow the rules just as easily without each patient having to pay $50 to $100 a year for this guy?


Obama cut deficit in HALF
The government's budget deficit will drop to $583 billion this year, the lowest level of President Barack Obama's tenure. Obama presided over trillion-dollar-plus deficits during his first term as the economy struggled to recover from a deep recession and financial crisis. GOP Reagan, Bush I & II ran the deficit from 30% of GDP to 90% of GDP, as in WWII, at $17 Trillion! Two tax cuts for the rich and two undeclared wars.  

GOP Crazies
FL GOP caught changing voting map to suit GOP. Districts redrawn illegally according to judge’s findings. Even though there are more registered Democrats in the state, Republicans currently hold a 17-to-10 majority in Florida’s congressional delegation. Did Bush II “win” 2000 election illegally?

Obama impeachment?
Sarah Palin declared last week that Obama should be impeached over the immigration crisis and other issues, a call that even Congressional Republicans have dismissed. “She wasn't a particularly good vice presidential candidate,” Holder said on ABC’s ‘This Week. “She’s an even worse judge of who ought to be impeached and why.”
“There’s a certain level of vehemence, it seems to me, that’s directed at me [and] directed at the president,” Mr. Holder told ABC News. “You know, people talking about taking their country back. … There’s a certain racial component to this for some people. I don’t think this is the thing that is a main driver, but for some, there’s a racial animus.”
The KKK uses bags of candy to recruit in SC
The imperial klaliff (political leader of the Muslim world) of the Loyal White Knights and said the effort was part of a recruiting event they hold three times a year. Kids found candy at door on Sunday morning with note "Save Our Land, Join the Klan." It had a phone number that led to an automated message discussing KKK efforts against illegal immigration.

GOP cuts IRS enforcement by 25%--we will have to make up for the tax cheats
The GOP-controlled House has voted to slash the budget for the Internal Revenue Service's tax enforcement division by $1.2 billion; a 25 percent cut that would mean fewer audits of taxpayers and make it more likely that people who cheat on their taxes will get away with it, especially if they have a lawyer/accountant.
 
GOP cuts securities regulator to halt advisor enforcement of fiduciary rule
House killed budget request for imposing the fiduciary rule (salesman must give best solution regardless of fees). SEC will not uphold ‘best for customer’ rule.

State Farm cancels 30-year homeowner because bad weather
State Farm, which has insured Metzler's property for 30 years, was declining to issue her a new policy. Too many claims, her agent said. Metzler, 74, was ticked off. Her neighborhood had been hit hard by extreme weather several times in recent years.
"It was ridiculous," Metzler said. "What do I do? Put a faucet on Mother Nature? Gee whiz." Homeowners met with Montana’s Commissioner to discuss claims disputes. Some had assumed a policy couldn't be canceled because of an act of God. Not true.
Non-renewal presents real problems for homeowners because once a customer had been turned away after multiple claims, it becomes difficult, if not impossible, to be picked up by another claim-weary company.
Brad Hilliard, a State Farm spokesman, said it “has to look at what it can reasonably cover.” Doesn’t matter how long a customer has been with the company or what kind of insurance they have. It is how many claims a customer has filed. Claims cost money. Shop for discounts every 5 years since loyalty doesn’t matter: http://www.amazon.com /Homeowners-Insurance-Beware-Coverage-Policy/dp/1480100870

Senate supports Supremes: our employer now decides which religious law we live by
The U.S. Senate turned back a Democratic proposal requiring for-profit companies to provide workers with insurance coverage for birth control even if the employer has religious objections. Five white guys’ religious views upheld.

Social Security office still verifies income
Social Security said its offices will continue issuing statements that recipients can use to verify their benefits. People sometimes need the information quickly to verify their income when applying for a loan or other government benefits, such as housing assistance. GOP cutbacks had scheduled to close offices in October but that plan was put on hold.

9 used cars with problems—avoid despite price discounting
Besides many GM ignition faults, theses 9 are losers. 


SCAMS           Why are we still paying $700 Billion a year for WWII deployments?
We are paying for 164,253 of our active-duty armed personnel to be in 150 countries around the world. We have about 50,000 in Japan and 50,000 in Germany.
Are we preparing for WWII again? There are 1,208,083[1] armed personnel in the United States. Our taxes pay for about HALF of the WORLD’s military expenditures every year. We have wasted $398.6 billion so far on the F-35 program—they can’t fly safely.
We just can’t afford to pay for everyone else’s defenses anymore.
Japan, Germany and S. Korea can pay for its own defense.

Ex-cop who shot dad in FL theater for texting is free on bond of only $150,000
It cost Tea Party leader $250,000 bond for doing MS GOP dirty tricks not MURDER. Ex-cop got No charge for shooting wife in hand. No charge for using gun in theater. Claims "self-defense." Family says he is not violent at home with guns!

Is your charity gift really a charity or scam?
IRS lists qualified charities online so you have no doubt.

AIG, the prime suspect in the 2007 financial crisis, is paid $650,000,000 by Bank America
American International Group will get at least $650 million in a settlement with Bank of America Corp. as the second-biggest U.S. bank seeks to end liability for faulty mortgages. AIG sold insurance to global institutions that bet on risky mortgages that went bad. AIG was bailed out by taxpayers and now reaped more profit from its bad bets.

Justice delayed is NOT justice
A dispute over a car damaged in an accident 18 years ago has led a Pennsylvania judge to order Nationwide to pay $18 million in punitive damages. It’s too late for the victims and only 1 week’s profit for Nationwide.

IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
973.746.2014
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Friday, July 11, 2014

Tax evaders leave us with the bill

Tax evaders avoid $ billions of taxes and move jobs overseas
1000s of US corporations that profit from our purchases are not paying taxes on their income like we have to. The Supremes decided corporations are people and have “religious freedom.” Yet they don’t pay taxes on their income no matter where they make it—We must pay no matter where we earn it. Since they don’t pay taxes, we must make up the difference.
Is this fair? 
Microsoft, for example, with $76.4 billion in foreign earnings, said that if it had brought those earnings home in 2013, it would have reduced the deficit by $24.4 billion. MS would have to pay 32% of income just like we do.
Aren’t you tired of paying the tax bill for MS, Google, Apple, Citi, GE, 1000 others?

Is advisor advice right for you?
In a recent survey, 23 percent of respondents weren’t sure why they do not work with a financial professional. Others said they prefer to make their own decisions (24 percent), and they feel financial professionals are too expensive (23 percent). The 35 percent of respondents who do work with financial professionals share some traits. For example, 68 percent are more likely to have calculated their retirement income need; 53 percent are confident or very confident about maintaining their lifestyle through retirement; but only sixty-eight percent of these respondents plan to continue to work with a financial professional through retirement. New tools online can replace advisors for Gen X.
Once you know what advisors do, you don’t need them:  http://www.amazon.com/The-Tax-Shelter-Young-Americans/dp/1500426520


“5 year hiatus in my 401k cost me $250,000”
Tim writes that he stopped investing at work for about 5 years when he was 33. He thought buying a new car was the right thing to do but it cost him about a quarter million in his retirement fund. He was investing $250 a month in his low cost 500 index fund. He now has $570,000. He figures he must keep working for 5 more years to get to his goal of $800,000. Compound interest makes his nest egg double in about 7-9 years. He will move some of his funds to a bond fund for his retirement income just as Warren Buffett does for his family: http://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592

High tech saves lives and money
Initial results of an analysis of combined crash-avoidance systems in the Honda Accord found they lowered insurance claims for vehicle damage and injuries, according to the Highway Loss Data Institute. Take ALL your discounts: http://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

Is a longevity annuity right for you?
The Treasury now allows longevity annuities in retirement plans. However, are they a good deal for you? Proponents argue that we are living longer and these deferred annuities insure lifetime income. Most start paying monthly income at age 85. Putting part of your nest egg in a guaranteed income vehicle sounds great but your money isn't liquid anymore. An emergency could require the money. The interest rates at the time of purchase may be low and thus you lock in low income for the rest of your life. Inflation reduces your purchasing power. Most annuity buyers don’t understand the costs and limits of the product. There are better alternatives that should be considered: http://www.amazon.com/The-Best-Annuity-Strategy-Income/dp/1497532019

GOP Crazies
Boehner's announcement that Republicans would sue the President of the United States over the administration's decision last year to delay the health care law's employer mandate has left many feeling CRAZY--Crazy and confused!
That's because the GOP House lawmakers ALREADY voted to do the exact same thing -- defer until 2015 the Obamacare requirement aimed at making businesses provide health coverage to their workers, or pay a penalty. Boehner suing Obama because the President only did what the House already made law. Obama is also carrying out the Bush II law giving children crossing border a place to stay for court date and lawyer and judges. Would they sue if Obama was white? 

  
Photosynthesis on leaves makes food and oxygen in ‘photo’
The photo was achieved by using an X-ray laser to record snapshots of molecules as they split in the reaction- a method know as X-ray crystallography. In photosynthesis, oxygen is created at a metal site, which contains a cluster made up of four manganese atoms and one calcium atom. This cluster is the site that drives the light-driven process of water splitting. According to the study, it takes four light flashes to split one oxygen molecule from two water molecules. The X-ray bounces off the materials projects a picture.

 More wasted tax dollars
In 2013, federal agencies made $97 billion in overpayments, according to agency estimates. Underpayments totaled $9 billion. The amount of improper payments has steadily dropped since 2010, when it peaked at $121 billion. This $100 B does not include over $125 B to corporations as tax-FREE loans or $100 B subsidies to make oil, ethanol, sugar, peanuts, cotton, beef, on and on and also NOTHING at all. Congress people like Bachmann receive money to NOT plant on farms they don’t live or work on. Bachmann is a Swiss citizen. The farm bill cut food stamps to increase crop subsidies.

Now you will have no private life at all.

SCAMS           Why are we still paying $700 Billion a year for WWII deployments?
We are paying for 164,253 of our active-duty armed personnel to be in 150 countries around the world. We have about 50,000 in Japan and 50,000 in Germany.
Are we preparing for WWII again? There are 1,208,083[1] armed personnel in the United States. Our taxes pay for about HALF of the WORLD’s military expenditures every year. We have wasted $398.6 billion so far on the F-35 program—they can’t fly safely.
We just can’t afford to pay for everyone else’s defenses anymore.
Japan, Germany and S. Korea can pay for its own defense.


Supremes allow corporations to decide coverage—no more cancer treatments are next?
Supreme Court ruled that the owners of private companies may refuse on religious grounds to offer employees insurance coverage for birth control. Some religions claim that death by natural means is God’s will. Scalia and Co face many NEW requests to cancel health insurance now. Constitution does NOT guarantee equal treatment for all according to Supreme majority. Congress must decide to stop Supreme’s change to Constitution’s guarantee for equal treatment for all.

Commerce caught overcharging
Thousands of Massachusetts motorcycle owners will receive a total of $14.6 million in insurance refunds as a result of a settlement with Commerce Insurance Company after allegedly being overcharged on their policies, Attorney General Martha Coakley announced.

One of Every Seven U.S. Cars Has Been Recalled but Not Repaired
Why? Many times customers found that dealers don’t have the parts so can’t fix even it got appointment. Some customers don’t understand how serious since recall can be for anything. Some customers bought the recalled car used and never heard about recall. Even GM ignition switch recall for safety poor fix rate.

IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
973.746.2014
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