IRS stops chasing tax evaders

IRS stops chasing tax evaders

Fed report on IRS says they don’t use every means to collect $ BILLIONS. Most uncollected taxes are owed by small business. Liens are placed on property but little is recovered. IRS wrote off $6.7 billions from 483,000 tax returns — because it couldn't find the taxpayers. IRS says: "It may be difficult for the IRS to collect on these outstanding liabilities considering that these taxpayers have already proven to be difficult to contact or locate." The big tax evaders—Apple, Google, Top Ten actually got REFUNDS. That’s right, your taxes went to GE, Boeing, Verizon, etc with $Bs profits.  In fact, 18,857 US companies keep a post office box in the Cayman Islands. 80 percent of the largest US corporations use offshore tax havens. Little wonder 57 percent of these companies paid no federal income taxes for at least one year from 1998 to 2005.

Pay your fair share: http://www.amazon.com/The-Tax-Shelter-Young-Americans/dp/1500426520

Is your advisor/broker trying to time the market? And wasting your money?

"Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves." Peter Lynch

Charles Schwab conducted a study using S&P data that showed that between 1994-2013, "missing the top ten up days by trying to time the market would have resulted in a reduction of 9.2% annualized return to 5.5%."

Investors lose more money trying to time the market ups and downs than if they had stayed invested. Your salesperson CANNOT foretell the future. Use the Best Predictor of Success method: http://www.amazon.com/Best-Predictor-Investment-Success-Cost/dp/1502524082

Corp execs make a killing with INVERSIONS
Medronic and other ‘deserters’ are using tricks to avoid their fair share of our taxes by claiming to move. This firm is giving its execs an extra $63 million from stockholders (our pensions) to ‘invert.’ Of course, Wall Street makes fees on the ‘inversion’ trick. Hedge funds get insider information and then make a bundle. Meanwhile, we pay their taxes to keep the system running and they continue to use it tax-FREE. They never moved!! You can go tax-FREE too: http://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976

Is a Worry-Free car right for you?

Cars that you don’t have to fix are in demand. CR and JDPower ratings combined to give you a list to consider. Even 3 year old models may be the best value—quality at the right price. http://blogs.cars.com/kickingtires/2014/09/whats-the-most-worry-free-car-you-can-buy.html. Trucks and cars that make 200,000 miles are listed here http://www.businessinsider.com/cars-most-likely-to-get-to-200000-miles-2014-10

Congress votes in its own interest—“representative democracy" focuses on millionaires

For the first time in history, more than half the members of the House and Senate are now millionaires, according to a new analysis of financial disclosure reports filed last year. The median net worth for lawmakers in the House and Senate was $1,008,767 — up 4.4 percent, according to the analysis, conducted by the nonprofit Center for Responsive Politics, which examines the influence of money on politics in Washington. None were laid off, unemployed, need food stamps, lack health care coverage, lack retirement plan, need a home, have college loans outstanding, or have trouble getting mortgages.

The world looks different to them. They get paid even if they do nothing. Perfect job!!

GOP crazies

U.S. Representative Michele Bachmann thinks President Barack Obama's strategy to defeat Islamic State extremists is piecemeal and we should hit them hard early. Bachmann says US knew last year. Congress should declare war on ISIS like WWII.

Supremes re-write Constitution—cut voter access in OH

“Thousands of Ohioans rely on early voting,” said Dale Ho, director of the Voting Rights Project. “For many, it is their only chance to cast a ballot during an election. While today’s order is not a final ruling on the merits, it will deprive many Ohioans of the opportunity to vote in the upcoming election as this case continues to make its way through the courts.” Supremes assist GOP to end of democracy as we know it. American Constitution never required voters have 3 IDs. Only Russia has that law.  

GOP hopes to win elections by changing American Constitution.

Secret Service looking to future with Koch Bros?

The Secret Service Ignored 8 Assault Rifle Shots Fired Into the White House Residence When Obama Family Was Home. Secret Service supervisor issued a stand down order, saying there were no shots fired without looking. A housekeeper found the bullets for the SS 4 days later. Is the SS incompetent? With the Obama hate that has been stirred by political rhetoric, it would seem the SS would be more likely to be on guard. Yet they let a knife-wielding gate-crasher in daylight roam around the Obama home. Hey, GOP has the money/will. They didn’t like Kennedy either. What else can we think?

Is a small company mutual fund right for you?

Smaller companies grow faster than large companies. For anyone who invested in smaller companies over any given 15 year period, the benefits were outstanding. For each $1,000 invested in the 1950s, $3,000,000 was the total return by the 1990’s. For investors who chose Biogen, Qualcomm, EMC, and Kansas City Southern RR when they were small firms, the rewards have been great. They earned price increases of 6,000% to19,000% because they held the stock for years. Vanguard’s Small Cap Index fund provides you with some of these gains over time at cost. It is one of the Vanguard Top 10: http://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

Are index funds in 401k, IRA, regular accounts good for you?
Index funds, matching market gains (no stock pickers), have managed to garner more assets during this recession/recovery cycle. During the last 5 years, each market segment index—small, large, global, real estate—has outpaced stock pickers. Not only do managers have to beat the markets; they have to overcome fees and transaction costs of 1-3%. Some managers do that but we will never know which ones they are till the year is over—too late to invest. Thus many large institutions and pensions are switching from costly “professional” managers to index funds. Index funds are what Buffett recommends: http://www.amazon.com/Warren-Buffetts-Vanguard-Funds-Retirement/dp/1496148592

Are you losing your future nest egg to fees?

Our 401(k)s and Individual Retirement Accounts (IRAs) are being eroded by fees, “leakage” and low participation rates, according to a new analysis of the Federal Reserve’s Survey of Consumer Finances. We are better off doing our own low-cost tax-FREE retirement account: http://www.amazon.com/Best-Predictor-Investment-Success-Cost/dp/1502524082

Deadline for tax extension filers is near

More than a quarter of the nearly 13 million taxpayers who requested an automatic six-month  extension this year have yet to file. Oct. 15 is the last day for most people to file. Members of the military and others serving in Afghanistan or other combat zones have until at least 180 days after they leave the combat zone to both file returns and pay any taxes due. Pay NO tax when you retire: http://www.amazon.com/How-Retire-Tax-FREE-Income-increases/dp/1484156951

Employment up—wages down—profits soar as corps pay LESS tax

The bounce in employment provided good news for the workforce in terms of total jobs, but wages remained stagnant. The average hourly wage actually fell one cent to $24.53, while the average work week edged higher to 34.6 hours. Wage growth is at just 2 percent on an annualized basis.

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 their own defenses.

Afghanistan—another Japan, Germany and S. Korea?

We thought we were getting out. A U.S. official says U.S. troops will stay in Afghanistan beyond the end of the year, in a deal to be signed on Tuesday under the country's newly inaugurated president. Policing never ends.

Why our govt hid the real bank bailout behind AIG bailout

Fed refused to let A.I.G. identify the betting banks that received full payment on their mortgage bets (insured by A.I.G.) After an outcry over the secrecy, the company identified the bailout recipients in March 2009; they included Société Générale (France), Goldman Sachs, Deutsche Bank and Merrill Lynch. Taxpayers were forced by Bush to pay off 100% of their gambling losses. Banks bet on mortgages going higher. The gamblers should have lost their money. Instead they collected 100% and our children will have to pay for the losses for generations. Bush’s bankers to testify at trial.

Agents target elderly with ‘low risk’ securities

Four insurance agents were charged with unlawfully selling securities in what turned out to be a multi-million dollar offering fraud targeting elderly investors. The scheme raised approximately $4.3 million during a nearly 18-month period. Agents in TX, PA, MI, CO sold securities that were supposed to be invested in government-backed agency bonds at a discount.

John Hancock Life agreed to refund senior citizens in Massachusetts more than $550,000 to settle allegations that it failed to supervise one if its representatives, James E. Moniz, permitting him to sell unsuitable variable life insurance policies, variable annuities, and other insurance and financial products.

  

IAN

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