How to avoid your income taxes by using a PO Box in Ireland

Can you Pay Less Tax by buying a post office box in Ireland?

Like many American corporations, which the Supremes have decided are “people,” I want to “move” just my legal address to a country with lower tax rates so I can pay less. Recently, Johnson Controls, WI and Pfizer, NY, said they had “moved” to Ireland (not really). Recently, the NYTimes asked an expert how we real human beings can do the same to save taxes. We can’t do it, according to the expert. Corporations can give unlimited amounts to buy our elections and they can lie about their home and pay less tax. Apparently, corporations have more rights than ordinary Americans do. No surprise there—they can buy more politicians. We are billed for Pfizer’s $35 billion taxes! And Pfizer still gets to enjoy our courts, police, army, lifestyle benefits for FREE.

The Times forgot one way to avoid Pfizer’s taxes: http://www.amazon.com/The-Tax-Shelter-Young-Americans/dp/1500426520

Wealthy are seeding their next bumper crop of ... not tobacco but … marijuana

The next big thing for the 1% ers is outlawed in most states but has a growth potential bigger than alcohol. Your rich friends are looking for something new and exciting. “I was drawn to the newness and growth of the cannabis industry,” one said. Banks won’t touch the stuff but people with money to burn can’t resist “stirring the pot.” They just don’t tell their well-heeled friends. They call it an “agriculture play.” They look at the “12% return and 60 percent loan to value.” Most risk only 5% assets because “it can go up in smoke.”

You don’t need $millions to earn 12%: http://www.amazon.com/Win-Investment-War-Earn-11/dp/1522916369

This is why you don’t give money to hedge funds

Aequitas Capital Management appears to be unraveling before investor’s eyes. Everything looked good in 2015. Aequitas appeared to be a healthy, growing firm, opening a new division to serve investment advisors. At its peak, it reported some $1.7 billion in managed assets. It offered short-term notes through advisors paying 8-12% interest and a more than 2 percent commission to advisors. Then in late 2015, it told investors that it was unable to refund the notes when they became due. Now it is allegedly under investigation by the regulators.

Low-fee always beats high-fee investing according rating firm Morningstar: http://www.amazon.com/Earn-11-not-3-On-Investments/dp/1502412187

  

Vanguard attacked because the fees are TOO low?

Disgruntled employee is after a government reward for telling the IRS that Vanguard owes it more money because Vanguard charges less for its services than all other mutual fund companies. Claim: Vanguard’s average expense ratio is 0.14 percent, compared with an industry average of 0.64 percent. That means Vanguard’s fees bring in about $4.5 billion a year, and if the fees were raised to the industry average they would bring in about $20.5 billion. Since Vanguard is run at break-even now, that difference would presumably be profit, and thus subject to corporate income taxes. This means more tax for IRS. This is like asking your food co op to pay tax on the profits it does NOT make because it could be like a Kroger store. Some people have too much time on their hands!

The IRS ‘loss’ is your gain: http://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

What happens after ObamaCare?

Despite GOP talk, the government did NOT determine my ObamaCare coverage—an insurance clerk determined what care I can receive. When going for an operation (my hip replacement), I called Horizon’s clerk and she read the manual for my ObamaCare contract. My daughter’s employer actually determines what their coverage is and how much she must pay herself. All GOP candidates wish to eradicate ObamaCare on Jan 21 2017. When that happens, how will we obtain care? Most insurance contracts run for a year so nothing will happen. The enrollment for 2018 is in Oct, so Congress has to pass a bill to make a new system. Insurance firms and hospitals and most providers will need another year to design and sell new GOPCare health contracts. So maybe 2020!

Since NO plan has been offered by the GOP (ObamaCare was GOP idea in 1993), we can only assume that Trump’s plan will be used. He promised "We'll work something out," when asked by ABCTV. He says he will have private plans; “great plans and health savings plans.” He “won’t let people die in the streets.” This sounds like what we had before so insurance clerks will continue to decide what treatments and surgery we will receive—IF we can afford coverage. The poor will go back to hospital ERs for primary and preventive care and we will still have the most expensive system in the world that only treats those with money. Hospitals are required to treat thanks to Reagan in 1986.

Learn how to buy for less: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

Defense contractors pay GOP to increase deficit another $18 BILLION

House GOP urging a steep increase in the Pentagon's budget have already received $10 million in campaign contributions. The 34 GOP lawmakers, all members of the House Armed Services Committee, are pressing for an $18 billion increase in the 2017 budget year. The Government Accountability Office has identified several areas of the department as "high risk" when it comes to waste and fraud, including weapons purchases and financial management. The committee's chairman, Mac Thornberry of Texas, topped the list of recipients with $941,700 in contributions made by employees of and political action committees sponsored by companies that do business with the Defense Department. (AP) We can’t stop contractors from buying our Reps but …

We can stop paying for this waste: http://www.amazon.com/Tax-Free-Living-2012-strategies-build/dp/1477452702

Does our President need to be smart and truthful? Do they even care about truth?

            (a summary of the GOP Presidential debates) (history: GOP has the final candidate by Feb 17)

Trump: Threatens Pope “when ISIS comes …” I won’t let Christianity be attacked …”

            $6 million raised for vets never got to vets. Vets on list have no checks.

            Trump’s ‘brown shirts’ sack rally protestor. http://cbiftrumpwins.com/#intro

            Klan to back Trump and fmr Mex prez says false prophet.

            GOP history repeats "Fighting Bob" La Follette’s anti-establishment crusade.

Rubio: “We’re keeping Guantanamo” Crowd cheered and yelled: "Waterboard Hillary!"

            Implies Rubio WILL let poor “die in the streets” Trump sounds like a Democrat.

Cruz: Draft women ‘Have we lost our faculties? Is political correctness so consuming”?

            Unleash the holy wrath on terrorists—sending 100,000 more troops in tribal war

            Holy war: “Christians have been ceding the public square to non-believers” 

Kasich: “I’ll give the Japanese a missile defense system and send arms to Ukraine.”

            Women can no longer use Planned Pd for health care in OH: Back to alleys!

            Does not know if wants to be Prez. ??

Perry: I may be nominee in “brokered” convention. Is he doing LSD in TX?

Romney: Raised questions about Donald Trump's taxes—Like kettle calling pot black!

Bush: Momma was right—“We’ve had enough Bushes.” No WMD, Not safe by BushII.

            Bush-Carson-Cruz voters NOT likely Trump voters—Hillary alt.?

Hillary: Trust is not my strong point—experience is—but what laws did she pass?

            Americans like “socialism” by another name—SS, Medicare, Medicaid, etc

Sanders: GOP’s Koch says he agrees with Sanders: system is rigged against the people

            We rebuild Afgan and Iraq villages. Why not our 59,000 falling bridges?

            American Revolution from voters voting out the oligarchy.

GOP Religion law allows discrimination in the name of Freedom

America had the rule of law so that every citizen is governed by the same laws, applied through a fair and equal judicial process to resolve disputes peacefully. But states like WV just passed a law that only protects those citizens who have a “sincerely held belief.” Part of the test for this belief is the practice of religion that does not seem to follow the rule of law. So apparently, if you are not a practicing member of a GOP religion, you have no standing with the Religious Freedom Restoration Act. This law creates a special class of American, and in the case of HB 4012, a special class of West Virginian. This special class may practice freedom of religion, but those who wish to have freedom from GOP religion have no special protections. 20 states have this law even though Supremes said “unconstitutional.”

The law protects GOP religionists so if they don’t want to serve a person they don’t like, they can refuse without legal liability. Discrimination is legalized. Religion justifies racism, sexism, intolerance. Jefferson called for a “Wall separating church and state” but now you must have a “GOP religion” to have the law on your side. This law makes GOP religion superior to civil law. It allows a business to tell employees what birth control they must use because the owner holds “sincerely held beliefs.” And the owners have the money to get an order from the Supreme court. We don’t.

1925 Scopes trial—Students not FREE to learn evolution in public school because GOP religion: https://www.youtube.com/watch?v=d2ctCPe51X4

School boards still try to rip evolution from textbooks so no Freedom to learn still!

OH GOP just cut funding for women’s health care at 150 clinics. Clinics had no abortions

Regulators are the only protection we have since we can’t sue anymore

            “It is nearly impossible for one individual to take on a corporation with vast resources.” (GOP bill requires impossible: every person in class action suffer “same type and scope of injury”)

               Supremes stop us from suing—State courts no longer available to sue corporations!

59,000 bridges need repair: What are we waiting for? DEATH? Wealthy could cover it.

Cliven Bundy stays in jail: “danger to community and flight risk”—owes US $1million. Georgia businessman requires employees have a concealed carry license for his “safety.”

High-Yield CD Offers Can Be Bait for High-Commission Investments—Security Com

Asset recovery firms scam seniors who were victims of fraud money-making schemes.

Broker examiner officer warning that only 10% of brokers examined is dangerous

“Assault” weapon purpose? Kill as many as you can. Do real hunters really use them?

We need regulation—GOP wrong—companies/cities wouldn’t fix bad products on own

Is this the American Future with the GOP?

Latin American women plead with westerners to send abortion pills. The overwhelmingly Catholic countries have criminalized access to contraception. Women are scared of giving birth to children with microcephaly, the mysterious condition marked by an undersized head and brain damage that doctors have linked to the mosquito-born Zika virus. Pope OKs contraception but silent on already pregnant. The Pope first answered by calling abortion an "absolute evil" and a "crime." “That is what the Mafia does.” Some priests still insist on no contraception to prevent pregnancy: “just wait for a year or two.” Cruz, Rubio, Bush say their religious beliefs will guide Presidency: Abortion illegal?

Will this become the US policy under GOP Religion in 2017?

Is it worth asking for a price check BEFORE seeing doctor?

Can you pay less yourself even when you have insurance to cover that MRI or exam? Some are finding the new world of health upside down. Some providers are cutting out the middleman (insurers) and saving you and themselves time and money. Before you have it done, take a price check at http://clearhealthcosts.com/. This site takes real prices paid from patients: Mammogram really costs $50 or $607?

Buy your “no repair” car with care

Lexus, Porsche, Buick and Toyota captured the top four spots in the annual vehicle dependability study which measures owners' complaints per hundred vehicles and was released one day after a similar survey by Consumer Reports magazine. These vehicles all had fewer than 114 problems per hundred, with Lexus (95) and Porsche (97) setting the pace.

Cut your insurance with discounts: http://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

How to file your taxes for FREE

Despite IRS advice to file early, Congress gave many financial firms until Feb 15^th plus a 30-day extension for some tax reporting forms. So you must wait or end up having to file an amended return. One firm, FOLIOfn, told me they don’t send forms anymore. I must find them and download. You don’t need to send in the forms with FREE efile, but the Payor’s number and amounts are important. EG: FOLIOfn’s EIN is NOT for 1099s.

Once you have all your forms, pick a FREE efile site at https://www.irs.gov/uac/Free-File:-Do-Your-Federal-Taxes-for-Free. Most charge for state filing and will work for any income. When you are done, most let you carry data and credits to next year so you will have less to do. I had to amend 2013 and FreeTaxUSA let me input and print it for FREE. Most sites ask you questions you can answer (some with email help) so filing is easy unless you are hiding money overseas (Romney) or have multiple real estate (Trump) holdings. My refunds are maximized and I get my money in my account in 2-3 weeks.

I am building my tax-FREE retirement with my refund: http://www.amazon.com/Pay-No-Taxes-in-Retirement-legally/dp/1507527977

How our government wastes our money

Air strikes costs $2.5 million each. We’ve spent $1 BILLION so far. We could have fixed the 59,000 bridges that need repairs immediately.  

FBI spends $8.3 billions on security:  Any hacker can crack 1 smartphone.

            Gov (NSA) already has San Bernadino terrorist’s phone calls in database!

            County owns iphone and could unlock for FBI. FBI really wants all iphone’s data.

It costs More than $233,600 a year to keep a young offender in LA county lockup.

Afghans abandoned three of bases in Helmand province surrendering 2 north districts.

Bush II pact allows Putin to spy on US anytime. Not keep us safe AFTER 9/11!

Drug tests for food stamps users but not farmers, energy, or corporate subsidies.

            States spend $1 million on tests to find 321 positive drugs in poor—no rehabbing.

SCAMS

Flint poor paying $864 a year DOUBLE average for water poisoned by lead—2^nd highest

IRS OKs “secret money” groups for lobbyists—Saudi’s can buy our elections legally!

IRS seizes store owner life savings for no reason but not Cliven Bundy $1 million fees??

Deadly cars: http://www.cheatsheet.com/automobiles/the-10-deadliest-vehicles-on-the-road.

Scalia mystery death reaching from the grave to change GOP future.

We just lost the right to film police arresting someone. GOP wins another one!

Who owns your account now?

Johnson Controls and Pfizer are now foreign firms and leave US with their tax bills. Are car seats and drugs safe in future since we don’t control these firms anymore.  

China bought GE appliances, equipment/chip makers, seed producers, and Chicago stock exchange.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts 

Wealth: What Every Student Needs to Know $3.99 iTunes

Wealth: What Every High School Student Needs to Know NOW at iTunes $3.99

Use a simple tax-FREE account called a Wealth Reserve to learn how to invest for long-term growth. This Wealth Reserve can provide $160,000 annual income for life with NO income tax.
This Wealth Reserve can provide real “lifestyle” security.

This Wealth Reserve can self-insure and self-fund financial needs saving $3,000 every year.

This Wealth Reserve takes advantage of the miracle of compounding—$250 a month becomes $2,000,000 over time.
Start today! Every year you delay costs you $100,000 later. http://itunes.apple.com/us/app/wealth-what-every-high-school/id540588535?mt=8

 

NC to reduce uninsured by 64% with ObamaCare

With the implementation of health reform, the first year of the Medicaid expansion alone is expected to reduce the number of uninsured persons in North Carolina by 64 percent, said a new report from the Budget and Tax Center a project of the North Carolina.

 

America is getting older

Baby boomers will turn age 65 at a rate of nearly 8,000 per day for the next 17 years. Most couples will need income for 30 years. IRAs must be used starting at age 70.5. If they are not needed, IRAs may be converted to Roth IRA which allows all gains to be left to heirs tax FREE like life insurance. 401k income is taxed as income. Social Security benefits (up to 85%) may be taxed if other income is high. A little planning goes a long way with our Guide:   http://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016

Will you have enough? Where will you invest? How much will you spend?

 

Is your advisor talking and showing variable annuity benefits again?
LPL and other firms are helping their advisors to push variable annuities since sales are down and commissions are up. LPL and others are using videos to help capture more clients’ dollars. The benefits are income and growth in the future during low interest times. Your advisor should also mention the costs and risks of these products. The SEC has warned that misleading claims can lock you into low benefits/rewards in the future:

 

RememberVariable annuities are designed to be long-term investments, to meet retirement and other long-range goals. Variable annuities are not suitable for meeting short-term goals because substantial taxes and insurance company charges may apply if you withdraw your money early. Variable annuities also involve investment risks, just as mutual funds do.

http://www.sec.gov/investor/pubs/sec-guide-to-variable-annuities.pdf

 

 

Book review Red Ink: Inside the High-Stakes Politics of the Federal Budget

How did we get to this point of owing $49,000 for each family member, up from $1,640 in 1966? Pulitzer-Prize-winning reporter David Wessel explains each party’s contribution to the mess. Who pays tax and who does not, how much goes to waste, how much is decided by 12,000 Washington lobbyists at $10,000 to $20,000 A MONTH retainer? How did corporations reduce their share from over 30% in the 1950’s to 6.6%? In 1980, 22% of all business profits were booked by firms that did not have to pay corporate taxes. In 2008, 73% of all business profits are booked by firms that don’t pay corporate taxes (yellow line in graph keeps going down).

Estate taxes account for less than 1% of revenue. Wage earners are paying 58 cents to state/local government for every $1 paid to the Feds. Why Reagan had to raise taxes 14 times and still couldn’t balance the budget. 

Is this socialism for the rich or what?

http://economix.blogs.nytimes.com/2009/10/20/federal-revenues-at-lowest-share-of-gdp-since-1950/

 

Accumulate $1,000,000 with NO taxes EVER.
+Take $6,600 monthly income FREE of income taxes in retirement.
+Avoid tax on up to 85% of your Social Security benefits.
+Turn your taxable pension or IRA into tax-FREE income.
+Use a special tax haven to protect all your earnings and gains.

+Twelve low-cost mutual funds that return 11% long-term.

Where is your sloop going? A retirement portfolio that flies. $12.95

Just published https://www.createspace.com/3948629

 

Insurers to raise price of UL life policies

Survey shows many insurers must raise the premium and lower their guarantees because of low interest rates and poor profit records. UL has a life insurance component which continues to cost less and savings component that can’t meet promises. Perhaps you should take your buildup and invest it while you switch to a lower cost term policy. You will have more later and still be covered. Life insurance is never a solid investment.

http://www.amazon.com/Drop-Your-Insurance-Dan-Keppel/dp/1448623391

 

 

GOP wants Romney to abolish interest deduction to lower his classes’ taxes

Republican platform drafters refused to put their party on record for preserving the mortgage- interest deduction, giving Mitt Romney more flexibility to promote his plan to lower tax rates paid by corporations and the wealthiest Americans without increasing the federal debt. Middle-class taxes would go up to pay for GOP tax breaks.

Who would vote for that outside the 1%ers?  http://www.sfgate.com/business/bloomberg/article/Republican-Platform-Won-t-Spare-Mortgage-Tax-3804350.php

 

 

Are commission-based accounts right for you?

Advisors are trying to switch our accounts into fee-based revenue accounts. Some are getting rich on 1-2% per annum but 72% of industry assets remain in commission-based accounts. Which is best for you? Like life, it depends on what you want to do. If you are a buy and hold investor, paying a low annual fee and no commission may be your best bet. If you like to pursue the hot products, a 1% fee may be great for hopping in and out of new trends. ETFs are popular but there are commissions to pay while an index fund of the same market may be cheaper. Learn from the insiders: Lies My Financial Advisor Told Me http://www.amazon.com/gp/product/1478281545/

 

Are your mutual funds really holding index funds (ETFs)?

Since you are paying 1-2% for a manager to pick market beating returns, would you be surprised (and angry) to find that they have put a lot of your money into index funds? It is true. Smart Money revealed that some small cap funds are actually invested mostly in the Russell 2,000 stock index ETF. Your manager may claim that they can easily sell the ETF when you and others want to cash in, but doesn’t that defeat the purpose of paying a “professional” to make the “smart” bets? Why pay extra for ETFs when you can buy the real McCoy and save the manager’s 1-2% fee plus ETF fee. The difference can be 40% of your total nest egg long term. In the last 10 years, Vanguard Small Cap Index has moved up 9.79% annually. You need your money more than your manager! Try it “neat!”  http://www.amazon.com/Wealth-Without-Wall-Street-Avoid Commissions/dp/1442168137

 

Women dissed by advisors?

According to a Boston Consulting Group survey, 73 percent of women say that they are dissatisfied with the financial services industry. Women claim they are overlooked, excluded, receive contradictory or poor advice and get worse deal terms than men.

But women are better investors than men and most know how to shop for a bargain. Stop wasting money and get better financial performance too: http://www.amazon.com/Leahs-Money-Book-control-money/dp/1448654408

 

Woman dissed by GOP

Paul Ryan, a married Roman Catholic, would overhaul women’ s health rights, Medicare, Social Security, and the health care law. He has actively fought abortion rights, government funding of family planning and insurance coverage for contraceptives. GOP platform says no abortion for rape, incest, even the death of the woman. GOP claims the sanctity of life, but not the pregnant woman’s life? Back to the coat hanger in the alley?

 http://www.nytimes.com/2012/08/22/opinion/what-the-gop-platform-represents.html

 

College student’s stuff may be covered by homeowners’

Check your policy or agent to confirm that your policy covers most of their stuff in the dorm or off-campus housing.

 

10 investments that worry regulators

Test your knowledge of the top investing scams being investigated by local regulators.

http://www.nasaa.org/3752/top-investor-threats/

 

 

SCAMS           “Only the little people pay taxes.” Leona Helmsley

 

Life Partners accused of fraud—“Gambling on death”

Accusing Waco-based Life Partners of fraud, state officials asked a state district judge in Austin on Thursday for authority to seize the life insurance settlement broker because it may run out of cash in two months. Texas claims that Life Partners sold unregistered securities and manufactured the value of the life insurance, or viatical, settlements by artificially shortening the life expectancies of those covered by the policies.

The company bought up insurance policies from elderly people, then resold fractions of the policies to investors, often promising big returns -- saying they are safer than buying gold or stocks. But some investors discovered that they had to pay premiums to keep the policies from collapsing, as people lived far longer than Life Partners predicted. Dah.

 

Congress benefits from letting lobbyists write our laws?

You have to be a millionaire to understand how the laws are written and they are.

http://thehill.com/business-a-lobbying/243625-the-hills-2012-50-wealthiest-in-congress

 

 

Who owns your account now?

Coventry Health to Aetna

 

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Take Social Security benefits before GOP cuts?

Is it smart to wait for Social Security benefits?

Now that the GOP is talking about cutting our future benefits, we have to reconsider when to start getting our money back. There are many situations—married, divorced, divorced 10 years, spouse passed away, younger takes benefits while older works, the reverse, playing the odds of living to 100, taxable benefits and 2nd job, supplement early benefits with spouse benefit while working, etc, etc. We need to know our options as soon as age 62. Read the info http://www.mymoney.gov/category/topic1/planning-retirement/-retiring.html and http://www.bankrate.com/finance/retirement/7-social-security-benefits.aspx?ic_id=nwsltr_wkrdup_20120203


House agrees to stop illegal insider trading—sort of.

60 minutes caught House leader Pelosi without answers on her ‘illegal’ trades. http://www.cbsnews.com/video/watch/?id=7388205n

House’s Cantor exempts those who sell “intelligence” to Wall Street. Allows “corruption” to continue, according to GOP Grassley.

http://articles.businessinsider.com/2011-11-14/politics/30396448_1_stock-market-market-moving-information-trades


Questions for your HR 401k Plan administrators/investment guides.

Forbes just outlined the types of questions to ask about your 401k so that you can make decisions about your best investment choices. Unbiased advisors say that cost is the best predictor of mutual fund returns. Why is there no Vanguard index option?

http://www.forbes.com/sites/feeonlyplanner/2012/02/02/do-you-know-whos-on-the-hook-for-decisions-made-in-your-401k/?partner=yahootix


Auto insurance instantly

Progressive announced today an application for the iPhone that is designed to radically change the auto insurance buyer’s experience. Positioned for the direct-to-consumer space, Progressive’s mobile app uses image capture technology designed to provide an accurate auto insurance rate that is customized to the user, and upon acceptance, to actually bind (guarantee immediate) coverage. “We can’t get a shortcut around the information we need, and we need lots of pieces of data, so keying in that data can be challenging at best. What’s unique about a mobile device is that it’s faster and more convenient—so we are taking the next step.” Progressive will be the first company to use image capture in this manner, Lehman says. “This is real time in front of the customer.”


Retirement income guarantee but at a cost

Uncle Sam wants to expand the transparency of 401(k) fees and broaden the availability of retirement plan payout options to encourage the use of annuities to provide lifetime income. Uncle Sam is giving a windfall to the financial services industry by making annuities available in our employer’s retirement plans. It will be easier to buy an annuity with our 401k money when we leave our job. Many people just cash out their 401k and the government is worried we won’t have a nestegg for later. Most annuities sold today are very expensive so sellers will make a fortune on the $11 Trillions in pension plans. Memebers have a better way and save 1-2% on the commissions too. http://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016


CA Medical Debt Keeps Rising, New Report Shows

In 2009, 2.6 million non-elderly Californians had some kind of medical debt -- an increase of 400,000 since 2007, the new "State of Health Insurance in California" report shows. Among enrollees in Medi-Cal, the program that is intended to provide comprehensive care for low-income residents, 18.2 percent had medical debt, a level comparable to the uninsured (18.4 percent). "This suggests that the program may not be providing everything its enrollees need, either because certain services are not included in coverage or there are increasingly fewer doctors that accept Medi-Cal patients," said Lavarreda.


Another long-term care insurer quits—raises rates for existing policies

Unum is getting out of the group long-term care insurance (LTCI) and preparing to increase the premiums it charges for in-force group LTCI coverage. "We intend to aggressively manage the long-term care business," Thomas Watjen, president of Unum, Chattanooga, Tenn., said today. "This will include continuing our practice of seeking rate increases on the in-force business where warranted and also exploring opportunities for capital management." Members consider alternatives like using their Wealth Reserve if needed. amazon.com/Create-Financial-Freedom-Wealth-Reserve/


Media spotlights how insurer evades paying claims--again

TV station highlights struggle of a patient’s family and regulators to battle for long-term care insurance coverage after buying a policy, the head of the NAIC health committee has vowed stronger regulation for those LTC insurers that deny coverage even when it deemed valid. The case involves a company making no benefit payments after claim for over $165,000 in care for a Miriam Mills, a 93-year-old nursing home patient with memory lapses. Mills' case was meant to expose the alleged problems with Bankers Life and Casualty (Conseco), which serves seniors. “Despite numerous faxes, telephone calls, letters, a flood of paid nursing home statements, care plans forms and even a formal complaint filed with the Missouri Insurance Commissioner, no benefits have been paid,” a Mills relative stated. Insurers don’t like paying claims. See The Rainmaker: http://en.wikipedia.org/wiki/The_Rainmaker_(1997_film)





The End
Eastman Kodak Co, the photography icon that invented the hand-held camera and helped bring the world the first pictures from the moon, is exiting the camera business.


GOP claim high taxes hurt job formation is disproved by Romney’s own work

Romney’s business profits for investors is evidence that fair tax rates don't hold back profit-seeking capitalists. From 1984 until 1999, the top rates on capital gains -- the profit from investments as opposed to compensation for work -- were often at 28 percent, and never lower than 20 percent. Indeed, in 1987, under President Ronald Reagan, the 20 percent rate rose to 28 percent -- a 40 percent increase in potential taxation of Bain investment profit. (Yes, Reagan did raise taxes, even on capital.)

Capitalists invest when there are profits to be made. Jobs are created when the workers earn enough to buy the stuff they produce.

Henry Ford had it right: Paying high wages," he concluded, "is behind the prosperity of this country."


SCAMS
Will anyone go to jail for mortgage mess?

New Mortgage Suits Against BofA, JPMorgan, Wells Fargo Plus Goldman

A federal judge certified a class-action lawsuit being led by a pension fund for Mississippi’s public sector employees that invested in the securities. A class action suit may draw in more plaintiffs who would otherwise not have the resources to take on Goldman in court. The case in question concerns a $698 million offering that was backed by New Century loans.

How could Romney have an IRA worth $20 - $100 million as per WSJ

The IRA max was $2000 in 80’s, now $5000. Rollover IRA from 401k max $30,000 a year. Romney was not making cash contributions to his IRA. Was he parking equity shares of his companies’ investment funds there, or quite possibly putting shares of private companies that his firm bought into his 401(k). If this happened, we need to know at what valuation Romney made these contributions. It is very easy to claim a low stated value for shares of private companies or investment funds that have no market price. If Romney purposely understated the true value of the shares he contributed to his retirement plan he could be held criminally liable. He used offshore accounts for this perhaps.

Romney will face earned income tax when he takes out the IRA money. IRA money is not taxed at capital gains rates. ... unless he can arange a special deal with the IRS. He might have a chance if he becomes Pres, unlike us tax payers. Maybe this is why he is running for President. The ultimate capitalist pays only 13%. Everyone else pays more.


Wall Street offers CD with 24% return—sort of, if you a lucky, maybe, perhaps, etc, etc.

Regulators are examining sales of certificates of deposit tied to derivatives after banks sold a record number of the investments last year. The industry-backed regulator wants to make sure the so-called structured CDs, where principal is protected by the Federal Deposit Insurance Corp., are properly understood by investors given their increasing complexity and lengthening maturities, said Maria Rabinovich, a lawyer in Finra’s risk division.

The watchdog issued an alert on “complex products” in January, outlining a few examples of misunderstandins, such as those where information is not readily available about the assets they’re tied to, and so-called“steepeners,” which typically bet on the shape of the Treasury yield curve. Goldman Sachs offered a four-year CD linked to the monthly returns of the Dow Jones Industrial average in December that returns as much as 24 percent a year. The Dow would have to gain at least 2 percent each month over the CD’s life for the maximum payout, according to an offering statement. Investors are guaranteed an annual yield of 0.5 percent, an amount less than the average 0.77 percent rate paid by one-year certificates of deposits.


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