Tax evaders we pay for

Tax evaders named by another Swiss bank Swisspartners

Swisspartners helped wealthy American clients hide income from the IRS between 2001 and 2011, according to the non-prosecution agreement (no banker goes to jail) filed in federal court. The companies created sham foundations and other entities that served as the nominal owners of bank accounts in Switzerland,Liechtenstein and other nations. In reality, assets and income in those accounts belonged to American clients. In another case, Credit Suisse bankers from 2001 to 2008 helped as many as 22,000 Americans with $12 billion in assets duck paying the IRS.

You can avoid taxes legally with the IRS § 408 account: http://www.amazon.com/Your-Tax-Haven-Tax-FREE-Americans/dp/1482659441 And it is FREE to set up.

Stealing us blind: Investors sue over fees

BlackRock faces potential class action by investors who assert the firm has breached fiduciary duty by charging exorbitant fees. The world's largest money manager keeps too much of the value generated by one of its funds even as it gets larger and cheaper to maintain, according to the suit. "The issue we're focused on is the difference between what BlackRock charges the funds and the fees BlackRock negotiates with other firms at arms' length."

You don’t need the fees to earn 11% over time: http://www.amazon.com/Warren-Buffetts-Investment-Strategy-Forget/dp/1484822900

Doing Nothing but staying invested in the market beats trading

Retail Investors earned an average annual return of just 3.69 percent for the 30 years through 2013. The S&P 500 market index returned 11.11 percent during the same period according to DALBAR’s annual Quantitative Analysis of Investor Behavior. Investors tend to buy and sell in a frenzy based on advisors and broker buzz. Trythe Buffett way: http://www.amazon.com/Wealth-Tao-Wu-Wei/dp/1499351348/

Europe court to Google: remove our bad info links

Europe's highest court ruled Tuesday that people have the "right to be forgotten" and can ask Google to remove some sensitive information from Internet search results. The court ruled that Google, if asked to do so, must amend links to information shown to be outdated or information deemed to be irrelevant. "An Internet search engine operator is responsible for the processing that it carries out of personal data which appear on web pages published by third parties," the judges added. The case followed complaints from a man in Spain who argued that when Google's search results revealed details about an auction of his repossessed home that infringed on his privacy rights.

GOP crazies denounced by Rand Paul … but he does not make the rules

“Everybody’s gone completely crazy on this voter ID thing,” Mr. Paul said in an interview. “I think it’s wrong for Republicans to go too crazy on this issue because it’s offending people.” After his meeting with the pastors inMemphis, Mr. Paul traveled a few blocks to address the Republican gathering, but he made no mention of voting rights.  Many of the claims of voter fraud amount to a great deal of smoke without much fire. The allegations simply do not pan out according to this legal analysis. http://www.brennancenter.org/publication/truth-about-voter-fraud

GOP crazies try to win 2016 election with warming denial

Rubio, R-Fla., said definitively that he’s ready to run for president in 2016 and he doesn’t buy into the “notion” that laws or human actions can contribute to climate change although much of Florida has been severely endangered by global warming.

“I don’t agree with the notion that some are putting out there, including scientists, that somehow there are actions that we can take today that would have an impact on what’s happening in our climate,” Rubio said. “Our climate is always changing.”

A glacial region of western Antarctica that's already melting rapidly has passed "the point of no return," according to NASA which estimates the glaciers, in the Amundsen Sea region, contain enough water to raise global sea levels by 4 feet. 

GOP Crazies: Rubio to make Medicare a voucher plan we pay the difference!

Running in 2016, he thinks changing Medicare into a premium-support program in which the government would provide a subsidy that people could use to purchase private insurance coverage. Vouchers were torched the last time the GOP proposed this because insurers do NOT want to insure seniors. No one wants an insurer CEO deciding to pull the plug on Granny’s life-support. CEO bonus depends on it.   

End to employer-paid health-benefit even if guaranteed in contracts

The Supremes agreed to rule on whether employers can unilaterally end retiree healthcare benefits, even when they're negotiated as part of a union contract. Federal law prohibits the unilateral reduction of retirement benefits retroactively. ERISA doesn't cover health benefits. "When employers do offer retiree health benefits, nothing in federal law prevents them from cutting or eliminating those benefits--unless they have made a specific promise to maintain the benefits."

Employer promises will have no meaning in future!

USAA lowers premiums for some CA homeowners

USAA homeowners and condominium policyholders in Sacramento County will save an average of $167. "This rate decrease is made possible in part by our low expense ratio, and our members' efforts to maintain their homes and prevent losses," said Jeff Dixon, vice president of P&C insurance property product management at USAA. "USAA is committed to partnering with our members to prevent losses, which is why we're also introducing a new insurance discount for members in communities that are working together to reduce wildfire risks by forming a Firewise community." USAA is run for the benefit of vets and family only. Agents receive salary. CEO is not overpaid. Use all your discounts: http://www.amazon.com/Homeowners-Insurance-Beware-Coverage-Policy/dp/1480100870

Fewer die with RomneyCare

The mortality rate in Massachusetts declined substantially in the four years after the state enacted a law in 2006 mandating universal health care coverage, providing the model for the Affordable Care Act. The Harvard study adds to a growing body of evidence that having health insurance increases a person's life expectancy. Mortality rates vary widely among states. Mississippi, Alabama, West Virginia, Oklahoma,Kentucky and Louisiana have the highest age-adjusted rates. 

Unfortunately, all but Kentucky refused ObamaCare.

Advisors are “scoundrels” and “cockroaches,” SEC says

The investment advisor and broker-dealer industries are plagued with too many repeat-offender “scoundrels” and “cockroaches,” SEC Commissioner Daniel Gallagher said. “Despite our best efforts, they manage to stay in the industry and continue to wreak havoc on the investing public.” Gallagher noted that 20 percent of the more than 600,000 actively licensed registered representatives in Finra’s BrokerCheck database have one to five disclosures for items such as customer complaints, regulatory violations, terminations, bankruptcy, judgments and liens. “There are plenty of repeat offenders at investment advisory firms who are engaging in misconduct. We’re just not finding them as quickly because no resources.

Buyer BEWARE: Manage your money the Buffett way: http://www.amazon.com/Wealth-Tao-Wu-Wei/dp/1499351348/

College experience determines happiness not tuition

The Gallup-Purdue Index found that elite schools fared no better than less selective private and public schools in ensuring graduates' well-being. The factors that do matter - feeling supported by a professor or mentor and having deep learning experiences - are, at least to some extent, factors that families can search for and control, Busteed said.

"In many ways, it's a very encouraging study for most of America," he said. "It doesn't really matter where you go. It matters how you do it."

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 just can’t afford to pay for everyone else’s defenses anymore.

Who owns your account now?

Consumers Insurance USA to Motorists Mutual

Sunshine State Insurance to United Property and Casualty

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts

Financial Death Insurance

Financial Death Insurance: Avoid death by a thousand cuts in pay 

#Debt is a knife that is killing us slowly. 

#Indenture to our bank kills the pleasures of life. 

#Break the chains and gain financial freedom.

     Let's admit it. Most of us are spendaholics. 70% of us live paycheck to paycheck. Most of us will NEVER pay off our loans. We will die by a thousand cuts to our paychecks.

How can we get free of the Master or the VISA?

      Freedom from our chains of lifelong payments requires immediate action: cutting credit cards and amputation of some of our costly toys and habits. Going cold turkey is the only way to save your life in rehab. 

      When you have financial freedom, you can buy new toys using the profits from your investments. You can be building wealth in 24 months.

Right now, you are making other people wealthy from your monthly payments. Stop it! 

http://www.amazon.com/Financial-Death-Insurance-Avoid-thousand/dp/1492803138

Need medical cover? https://www.healthcare.gov/

October 1, start your new year without fear of medical destruction. January 1 you can live knowing your family is covered for a catastrophic illness or accident. Your coverage is not capped, it can’t be cut if you get sick, you get free screenings, you don’t have to sit the emergency to get a flu shot and more. Here is the benefit list: http://www.hhs.gov/healthcare/facts/timeline/index.html

Your current employer insurance plan may NOT have the same benefits.

Plans existing before the new law in 2010 were grandfathered and don’t have to have ObamaCare benefits:http://obamacarefacts.com/grandfathered-plans.php

Estimate your least plan cost with subsidy: http://kff.org/interactive/subsidy-calculator/

ObamaCare myths: 

http://www.politifact.com/truth-o-meter/article/2013/sep/24/top-16-myths-about-health-care-law/

Best existing medical insurance plans CR reviews in your state: http://www.consumerreports.org/healthinsurance

Insurers are prepared for new business and competition—GOP wrong again

Based on the belief that most insurers were well-positioned and preparing for the expected impact of health care reform, A.M. Best Co. maintained its stable outlook for the majority of the health industry in January 2013. It appears that all the fuss over ObamaCare is just political BS. America’s insurers and drug firms are ready to serve more customers! GOP used to be in favor of everyone paying for healthcare: http://www.youtube.com/watch?v=rcSjLvWLcxE

MA has ObamaCare already thanks to GOP—what was learned?

Today, 97 percent of the state's 6.6 million people have it — the highest coverage rate of anywhere in America.http://www.npr.org/blogs/health/2013/10/01/227887992/lessons-for-the-obamacare-rollout-courtesy-of-massachusetts

Living without a mortgage?

A novel way to beat the high cost of living—tiny home, on wheels—not a double wide. Small but cozy—cuts down on clutter. Built it yourself $24,000 or buy for $57,000: http://www.tumbleweedhouses.com/

Should you make a homeowner’s claim?

In some states, making a single homeowner's insurance claim raises the annual premium cost over 20%, according to a newhttp://www.insurancequotes.com/home/home-insurance-claim report. The state with the highest increase is Minnesota (+21.2%), followed by Connecticut (+20.6%) and Maryland (+19.3%). Buy only what you need: http://www.amazon.com/Homeowners-Insurance-Beware-Coverage-Policy/dp/1480100870/

Will debt reduce your sunny retirement years?

A much higher proportion of homeowners over 65 are carrying mortgage debt compared with past generations. The Consumer Financial Protection Bureau estimates that 30 percent of all homeowners 70 and older have mortgages to pay off. In 2001, just 8 percent of owners 75 or older carried mortgage debt, according to the Federal Reserve’s Survey of Consumer Finances, published in 2010. Working longer may be the answer if employment is still possible. About 7.2 million Americans 65 and older were employed last year, a 67 percent increase from a decade ago, according to government data. The median 401(k) balance for households headed by people aged 55 to 64 who had retirement accounts at work was $120,000 in 2011, according to the Center for Retirement Research at BostonCollege.  http://www.businessweek.com/articles/2013-09-26/former-executive-tom-palome-spends-his-retirement-flipping-burgers#r=nav-fs

Insurers misuse your credit?

State Farm has sent notices to nearly 700 customers whose accounts were handled by an after-hours call center employee who allegedly "misused" credit card information of at least 11 customers.

Is life insurance the best way to help your grandchild?

Many grandparents buy small $10,000 policies for their loved ones in the belief that this is the best gift for them. Consider what really happens. Most child policies are dropped. The hundreds of dollars spent are defaulted to the insurer FREE. Better to start a savings program for the child. Your gift to their Roth IRA can be worth $2.1 million by age 65. That is the miracle of compounding. And the child does not have to die to collect! http://www.amazon.com/Give-your-Grandchild-000-Lifetime/dp/1456433105

Have you been to Chicago lately?

Stay off the streets. Chicago now has highest murder rate. More than in Capone days, more than the Wild West days. They even shoot kids now! 

We need Wyatt Earp to ban guns in town like they did back then: 

After a decision by the Supreme Court affirming the right of individuals to own guns, then-Chicago Mayor Richard Daley sarcastically said, "Then why don't we do away with the court system and go back to the Old West, you have a gun and I have a gun and we'll settle it in the streets?" This is a common refrain heard in the gun debate. Gun control advocates fear -- and gun rights proponents sometimes hope -- the Second Amendment will transform our cities into modern-day versions of Dodge.

Yet this is all based on a widely shared misunderstanding of the Wild West. Frontier towns -- places like Tombstone, Deadwood, and Dodge -- actually had the most restrictive gun control laws in the nation.

In fact, many of those same cities have far less burdensome gun control today than they did back in the 1800s.http://www.huffingtonpost.com/adam-winkler/did-the-wild-west-have-mo_b_956035.html

Towns banned guns for one reason back in the 1800s—guns kill people! People can't always control their emotions. 

Did you inherit an annuity?

IRS ruled that you can transfer the annuity you inherit to another insurer so you can receive more. Rather than being bound by the terms of the decedent’s contract, beneficiaries may be able to exchange inherited contracts for newer, higher paying contracts, according to PLR 201330016. Such an annuity might have lower costs, come from a stronger company, offer better investment options, or have desirable features. A PLR only applies to the taxpayer who made the request, but it also shows how the IRS regards a certain issue. Thus, an exchange for a higher-paying annuity may be a realistic option for beneficiaries. See your optionshttp://www.amazon.com/Not-Buy-That-Annuity-Guaranteed/dp/1466494573

Only poor people are hurt by GOP shutdown

Government employees but not Congress or aides, Women Infant Children, Veterans, Small Business loans, tourism and business that serve them, Head Start, SS disability hearings, cancer cure program testing, food safety, flu shots, etc. Congress and their staffs will get paid. Military and weapons makers will get paid. Anyone they decide is 'essential' is paid but the rest of workers are NOT essential.

http://www.washingtonpost.com/blogs/wonkblog/wp/2013/10/01/the-nine-most-painful-consequences-of-a-government-shutdown/

Millions of Poor Are Left Uncovered by Health Law—Two Americas?

If you and your neighbors elected a GOP government recently, you will likely NOT have health care available. Those that need it the most are denied the opportunity to buy coverage. America is NOT the land of opportunity GOP pretends. Only the rich can afford coverage in the 26 states ruled by GOP—60% of American working poor.

“How can somebody in poverty not be eligible for subsidies?” an unemployed health care worker in Virginia asked through tears. Before she lost her job and her house and had to move in with her brother in Virginia, she lived in Maryland, a state that is expanding Medicaid. “Would I go back there?” she asked. “It might involve me living in my car. I don’t know. I might consider it.” Will the poor have to move to get covered?

Two Americas: Banana Republic or Civil War?

SCAMS           “Deficits don’t matter” Republican godfather, Dick Cheney, 2002

Educated are more susceptible to scams than others

Recent survey found that more than 80 percent of respondents were approached with potentially fraudulent offers and that 40 percent of all respondents were unable to spot “classic red flags of fraud” — implicit warnings that they were in danger of being fleeced. The survey showed that the highest earners — those with household incomes of $100,000 or more — found the pitch more appealing than those with lower incomes. And those with more education were generally more credulous, too. The greater their education, the more likely they were to invest in potentially fraudulent schemes. They are overconfident and had the money. Scammers on work for people with money. http://www.nytimes.com/2013/09/29/your-money/the-bridges-are-new-but-business-scams-are-timeless.html?pagewanted=all

Tracking of Americans through friends’ network allowed

Government can now keep tabs on all your friends and networks without court order. You don’t even need to be in touch with foreigners. OKed by Supremes too:

http://www.nytimes.com/2013/09/29/us/nsa-examines-social-networks-of-us-citizens.html?pagewanted=all&_r=0

Allstate reneges on promises

Allstate retiree Garnet Turner is suing the insurer to protect the life insurance benefit he claims he was promised. 

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Earn 50% more with Tax-FREE 401k

Tune up your 401k: EARN 50% more Tax-FREE

Accumulate $1,000,000 free of fees and taxes.
Avoid ALL 401k plan Wealth Killers.
Use a tax-FREE account--better than tax-Deferred.
Buy low-cost mutual funds averaging 10-12%. 

     Accumulating wealth requires that we avoid high plan and advisor fees, commissions, loads and ... taxes--the Wealth Killers.
Since you have a 401k, why not earn 50% more? We avoid fees by buying ONLY the financial services we need at a discount. We avoid taxes by using an IRS-approved tax-FREE account. We reinvest ALL our earnings. We accumulate $1 million by leveraging the Miracle of Compounding over time. 

http://www.amazon.com/Tune-your-401k-EARN-Tax-FREE/dp/1490591028

Boomers working for themselves to guarantee retirement money

A recent survey by AARP found 10 percent of workers ages 45 to 74 plan to start a business and 15 percent workers in this age range are already self-employed. Some start a business due to a job loss, others had already retired but weren't ready to fully stop working. On average, self-employed workers in their 40s or 50s may spend nearly two decades working for themselves, the AARP study found. Nearly 75 percent of older self-employed workers surveyed by AARP indicated that their business made a profit in 2011. That may explain why nine out of 10 believe it is not likely they will have to stop working in the next year.http://www.amazon.com/Are-you-ready-retirement-worst/dp/1491002662

Credit bureaus destroy your credit and prospects for job, insurance, etc AND

Answer to no one!

Despite the huge judgment—$18 million—little is going to change for the millions of Americans who discover errors in their credit reports. The credit bureaus are willing to tolerate these errors — and settle with consumers out of court — as a cost of doing business, according to credit experts and lawyers who work on these cases. “Their business model is to keep doing the same thing over and over again,” said Justin Baxter, the lead lawyer on Ms. Miller’s case. “They can buy off a number of consumers with small dollar amounts and get rid of the vast majority of cases. To Equifax, that’s the cost of doing business.” The bureaus often outsource thousands of disputes daily to workers overseas. Congress does nothing after damning FTC report. 

The dispute process is not easy or effective:  http://www.nytimes.com/2013/08/03/your-money/credit-scores/credit-bureaus-willing-to-tolerate-errors-experts-say.html?

California’s Most Successful Small Group Private Exchange Says Everyone Benefits Through Competition Between Public and Private Exchanges

CaliforniaChoice, the nation’s most successful small group private exchange, said today it welcomes the addition of Covered California into the state’s health insurance landscape. CaliforniaChoice launched its private health insurance exchange in California in 1996 and currently serves more than 10,000 employers and 150,000 individuals statewide. “Competition makes everyone better, and consumers always win when competition is free and open” Covered California announced the carriers who will be participating in its Small Business Health Options Program (SHOP) marketplace. Some of this network overlaps the long-established network of CaliforniaChoice, widely considered one of the best health insurance exchanges in the country with coverage from Aetna, Anthem Blue Cross, Health Net, Kaiser Permanente, Sharp Health Plan, and Western Health Advantage. https://www.calchoice.com/

Paying more on student loan than needed?

Just 3 out of 10 borrowers in the repayment plans that pegs a borrower’s payment to his or her monthly income. These income-based repayment plans (known as IBR) are generally praised by student advocates for making loans affordable and because they forgive the remaining balance after 10, 20, or 25 years, depending on the program. Survey found that given the average amount borrowers in each program owed, “it’s possible that many borrowers in plans not based on income might be better off with an income-based plan.” Compare your payment to an IBR plan: http://www.businessweek.com/articles/2013-08-07/the-u-dot-s-dot-has-a-really-helpful-student-loan-repayment-program-and-no-ones-using-it?

Obama’s own staff workers don’t know that ObamaCare is for those without health insurance!

IRS chief Daniel Werfel says he wants to keep his health care plan, not switch to Obamacare in testimony to GOP.

Werfel should read the law he is supposed to enforce: http://www.naic.org/index_health_reform_faq.htm

What RomneyCare accomplished for Massachusetts: http://mittromneycentral.com/resources/romneycare/#1

Two Americas—Going part time

According to a recent Gallup poll: Fewer Americans aged 18 to 29 worked full time for an employer in June 2013 (43.6%) than did so in June 2012 (47.0%). 

SCAMS           “Deficits don’t matter” Republican godfather, Dick Cheney, 2002

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Are you bank fees higher?

Are your bank fees higher?

In Bankrate's 2012 Checking Survey, almost every checking fee they follow went up, with some bank fees rising 25% or more. The average monthly maintenance fee for a noninterest-bearing checking account rose to a record high $5.48, an increase of 25% over last year. The minimum balance to avoid a monthly maintenance fee has nearly doubled in the last two years, reaching $6,117.80. Making matters worse, if you don't make that threshold, you'll be on the hook for a $14.75 monthly maintenance fee.
ATM fees have become routine, especially for using other bank ATMs.  "Our recent survey showed that 72% of the largest credit unions still offered free checking." Members buy only what they need using the “tricks of the trade” and pay zero fees:http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/dp/143480593X

Long-term care insurance and alternatives

Please read all the exclusions and restrictions in at least three policies before buying. Consider that half of all policies lapse before any benefits were paid. Most owners were unable or unwilling to continue paying their premiums. Even if an owner has LTCi and goes to a facility, only half collect from the policy. If you need home care or use a residential facility, you may not collect benefits. When LTC benefits were paid, they were usually far below the actual cost of care. For many of the longest-term residents, benefits were used up before the nursing facility stay ended. Consider using the premiums to buy assets that can be used for LTC or legacy or retirement supplement, whichever is needed.http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X/

Decades of federal dollars, NOT entrepreneurs, helped pay for the natural gas boom

Pioneers in gas drilling say government research and tax breaks helped launch boom. The current new gas billionaires did NOT put up the money to assure their own success. The government did. In 1975, the Department of Energy began funding research into fracking and horizontal drilling, where wells go down and then sideways for thousands of feet. But it took more than 20 years to perfect the process. Millionaires like Romney say they did it all themselves. Not true.

GOP wants to eliminate the Department and every other government bureaucrat in Wash.

RomneyCare—emergency room for uninsured—disputed by doctors

"Emergency care is not health insurance," according to Dr. David Seaberg, president of theAmerican College of Emergency Physicians, responding to a statement by Governor Mitt Romney on 60 Minutes about how uninsured patients get medical care in emergency rooms. Most people need comprehensive care and can save with a high-deductible policy:http://www.amazon.com/Industry-Insiders-Guides-Buying-Insurance/dp/1466435712/

KS regulator ask GOP governor to set health exchange plan

GOP governor declines. He is waiting for election to see if he will comply with law to have exchanges for citizens to buy insurance. This will make it more difficult for uninsured to meet the deadline in 2014.

AR Gov embraces health care overhaul

Arkansas Gov. Beebe now wants to use ObamaCare to widen government-funded coverage to thousands of additional families. He’s relying on the move to help prevent a Republican takeover of the state Legislature for the first time since Reconstruction. Gov. Mike Beebe, the first Southern governor to back the law's expansion of Medicaid, has become an unlikely advocate for a central part of the overhaul that would expand Medicaid, a position made easier by the fact that he's not seeking re-election. Beebe has said he thinks lawmakers will support expanding eligibility when they see the broad benefits. The Department of Human Services has estimated expanding the state's Medicaid rolls by 250,000 people will save the state $372 million over the next several years. Republicans have expressed skepticism about that figure, noting that it factors in savings from other parts of the federal health overhaul. 

SD agrees to Fed health exchanges

South Dakota will not set up its own health insurance exchange, instead deferring to the federal government to operate and pay for a key component required by the federal health care overhaul. Each state has the option of making or renting exchanges. 

Are extended warranties right for you?

Experts agree that you should choose warranties backed by manufacturers and not third parties. Most cars have solid reliability records on engine/powertrain so you won’t need one. Check reliability at JD Power, Edmunds.com etc.

Sellers have considerable mark-ups on contracts – as much as 50%. Warranties are the profit line for most retailers. Some use warranty sales as sales bonus plans. Staples is a good example of what companies use extended warranties for—extra profit, not service. According to Staples employees, they are told: no warranty, no computer. The advertised computer is not in stock if you don’t buy the computer but is in stock if you do.

65% of Consumer Reports respondents spent significantly more for the extended coverage than they reaped in repair savings. Twelve percent noted they had difficulty getting warranty repairs because of contract terms or disagreements with an administrator. CRrecommends you put the $1,500-$2,300 you might spend in a moneymarket fund and "insure" yourself. Members self-insure for all large purchases:http://www.amazon.com/Build-Your-Tax-FREE-Wealth-Reserve/dp/1456505041

NJ Gov Christie fails to help homeowners in foreclosure—losing $300 million

ABC News reporter Jim Hoffer asked the governor to explain why New Jersey ranks last out of 18 states who have received hundreds of millions in funds from the US Treasury Department to help unemployed or underemployed homeowners to avoid foreclosure.

Specifically, New Jersey has distributed less than $4 million of a $300 million grant, placing the Garden State in last place among states that have received grants from the Treasury’s Hardest Hit Fund. The GOP governor has spent a good deal of time during the month of September campaigning out of state on behalf of Republican presidential candidate Mitt Romney. He allocated only 5 employees to the program. 

Best homeowner’s insurance services survey

The 2012 survey by JD Power is done. Amica Mutual ranks highest in satisfaction (859) for an 11th consecutive year among homeowners award-eligible insurance companies and performs particularly well in all five factors that contribute to overall customer satisfaction. Following Amica Mutual in the rankings are ACSC (AAA) (824) and Erie Insurance (822), respectively. USAA, an insurance provider open only to U.S. military personnel and their families and therefore not included in the rankings, also achieves a high level of customer satisfaction. Find your carrier on the list athttp://www.claimsjournal.com/news/national/2012/09/27/214364.htm.

Members find that quality service need not be expensive when you buy what you need.http://www.amazon.com/Industry-Insiders-Guides-Buying-Insurance/dp/1466435712/

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

Romney violated his own rule: Extra tax payments make him “unqualified” to be president!

Romney’s returns showed that the couple paid $1,935,708 in taxes on income of $13,696,951. Romney had claimed fewer deductions than he was entitled to just to keep his rate at such a level. Romney told reporters in August he had never paid below 13 percent in taxes in any given year over the past 20. Had he taken the full charitable deduction, it would have pushed his tax liability below 13 percent. Romney also said that "I don't pay more than are legally due, and frankly if I had paid more than are legally due I don't think I'd be qualified to become president."

Redistribution of wealth . . . to the wealthy, by the wealthy, for the wealthy!

Americans don’t understand why the wealthy don’t pay Social Security tax on ALL income.

Currently, workers pay the tax on the first $110,000 in income. Everything above that threshold remains untouched. Why? The current cap was set in 1983 to expose "90% of total national wages to the Social Security tax." Because of inequality in income growthsince then (the rich growing richer), the amount of wages escaping such taxation has grown from 10% to about 15%. It is said that if we raise the taxable portion, we will return to historical intent and also address the erosion of income equality since 1983.

Removing that cap entirely while leaving benefit levels the same could ensure Social Security's solvency for the next 75 years. 

Since the wealthy make more they should pay more. This seems fair. If you make $110,000 you pay $6826 but if you make $220,000, you pay only $6826. If you make $22 million, you pay only $6826.

Americans don’t understand why they pay 40-50% taxes in total and Romney and friends pay under 15% taxes in total.

Who owns your account now?

Morgan Stanley dropping the Smith Barney name from the joint venture it co-owns with Citigroup Inc.

Auto insurers Permanent General and The General to American Family Insurance. 

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Keep More of What You Earn

Keep More of What You Earn

10 Mutual Funds for Tax-FREE Income, Growth and Diversification

 >Earn 10% to 12% on your mutual funds FREE of income taxes.
>Avoid 1% to 3% sales fees and commissions on your account.
>Use low-cost mutual funds that are well diversified.
>Use a special IRS account to protect all your interest and gains.

Isn't it time you started using the low-cost high-return mutual funds the pension fund managers use?
You may not have the $ millions that pension fund managers have in their accounts, but that is no reason you can't Keep More of What You Earn like they do. You can also use a tax-advantaged account like they do. Get started in 1 hour. Presented by Law Steeple, MBA, one of our Insiders. Just $12.95.

https://www.createspace.com/3992600

 

 

 

No secret to having money: Invest early and spend less

New survey says HALF (47 percent) of the 1,038 respondents pointed to “living within my means” while more than a third (35 percent) say they “started saving from an early or at a young age.” Forty-two percent say saving for retirement is their primary financial goal. What is new is how to build wealth ON YOUR OWN and tax-FREE: http://www.amazon.com/The-ABCs-Building-Wealth-accumulating/dp/1468033344

 

 

Preferred auto insurance customers wasting premiums

Texas Office of Public Insurance Counsel found that the longer customers stay with a company, the more likely they are to pay more than they need to. The analysis found that the insurers' risk of loss is less the longer you stay with the company, meaning you become more profitable to the company the longer you stay around. While the savings will vary from person to person, long-term customers are likely to be paying too much.

The report was meant to be a siren call to shop around for home and auto policies. Our Guides show the ‘tricks of the trade’ to save: http://www.amazon.com/Industry-Insiders-Guides-Buying-Insurance/dp/1466435712

 

ObamaCare forced insurers to return premium overcharges

Virginia residents and businesses have received about $43 million in rebates from their health insurance companies. Fourteen insurers returned the money because they failed to spend at least 80 percent of their premium income.

 

What else does ObamaCare do for you?

See http://cigna.promo.eprize.com/hcrig/?affiliate_id=cigna

 

 

Romney now says he will keep ObamaCare benefits …. Sort of… (if you qualify?)

Romney does FLIP right on TV—he will gut ObamaCare, Then won’t, then will again!

On Meet the Press yesterday he said he intended to reform the health-care system to allow people with preexisting conditions to obtain health insurance. However, Romney doesn’t have a plan, or even a vague outline of a plan, to cover people with preexisting conditions. To preempt a conservative freak-out, Romney’s campaign clarified to National Review that its actual position remains, “Governor Romney will ensure that discrimination against individuals with pre-existing conditions who maintain continuous coverage is prohibited.” What does that mean?

The key clause here is “who maintain continuous coverage.” Romney is saying that if you have health insurance, you won’t get kicked off health insurance if you develop a serious condition, even if you switch insurers. That’s not the same as finding a way to give coverage to people who are locked out of the insurance market for medical reasons. It’s not even a new proposal. That right has existed in federal law since 1996. It’s possible Romney is saying he wants to strengthen it but, as Jonathan Cohn has explained, that’s really hard to do, and even if he could, it would be a very limited change that would affect very few people.

GOP captures the undecided by using half-truth sound bites?

 

Ryan lied about running a fast marathon!? Can we trust this man?

Runner who first questioned Paul Ryan’s marathon time speaks out. http://news.yahoo.com/blogs/ticket/runner-first-questioned-paul-ryan-marathon-time-speaks-155321505--election.html

“Turns out Ryan never ran a marathon in that time; a campaign spokesman was forced to walk back the comment.”

Why would he make up such a lie? Just to influence runners?

Does Ryan think we are stupid that no one would check him out?

Do all Republicans think this way?

 

CA approves pay-for-miles-driven program

Regulators approved an auto filing by Esurance that will allow its policyholders to voluntarily participate in a unique pay-drive verified mileage auto program. Under the company’s “Drive Less, Save More” program, customers provide odometer readings each term for possible additional savings on their car insurance. Other companies that offer pay-drive programs include: The Automobile Club of Southern California, State Farm, CSE Safeguard Insurance Company and the Sequoia Insurance Company of Marin. Learn all the ‘tricks’ to lower your premium with our Guide: http://www.amazon.com/Industry-Insiders-Guides-Buying-Insurance/dp/1466435712

 

Vanguard low-fee ETFs shaking industry to core (profits)

Vanguard's ETFs have attracted 70% of the inflows over the past three years, according to a recent AllianceBernstein LP research note. “A fee cut could go a long way toward helping their [BlackRock] products compete more directly,” said Mike Rawson, an ETF analyst at Morningstar Inc. The battle between the two firms' emerging-markets ETFs is the clearest example of the shift that's been under way. The iShares Emerging Markets ETF (EEM) and the Vanguard Emerging Markets ETF (VWO) track the same index but the Vanguard ETF has an expense ratio of 0.22%, 45 basis points lower than the iShares product.

Members know there is no difference between the two funds except sales charges, which reduce the size of their nest eggs. http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

Is your income going backward?

Median incomes fell 1.5 percent in 2011, while the official poverty rate ($23,021 for a family of four) remained essentially unchanged at 15 percent.

A family right in the middle of the income spectrum had an income of $50,054, which is actually lower than the 1989 median level of $50,624 expressed in 2011 dollars. The implication: For much of America the economy has produced not just one lost decade but two. Stagnation has even hit wealthier and more educated households (the 95th percentile in the Census data) for the past decade. http://www.myfoxspokane.com/news/economy/story/us-incomes-fall-1989-levels-how-did-happen

 

Top 1% of America’s wealthy now take double the national income http://www.nytimes.com/2011/10/26/us/politics/top-earners-doubled-share-of-nations-income-cbo-says.html

Top companies have moved their work overseas for lower wages and tax benefits.

 

 

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

 

Wealthy already plan to avoid new tax—The Romney way

Tax planners are developing ways to help clients avoid the taxes set to take effect next year. Advisers are devising methods for high-income taxpayers to shelter investment and other forms of income.

Obama's healthcare law imposes a 3.8 percent tax on investment income and a 0.9 boost in payroll taxes, both applying only to individuals earning more than $200,000 a year or households earning more than $250,000. That is about 4 percent of the tax-paying population, according to the non-partisan Tax Policy Center.

Among ways these taxpayers might be able to avoid the full brunt of the new taxes: cashing in gains this year instead of next; characterizing income as active instead of passive; and moving profits into vehicles or structures not subject to the tax, said a range of tax experts. Of course, law firms and real estate partnerships are exempt.

The 3.8 percent tax is assessed on top of the existing 15 percent tax rate on income from capital gains, dividends and other investments for the $200,000-in-income-and-up set. The tax applies to investment income from dividends, interest, annuities, royalties and rents - except for income earned in the ordinary course of a trade or business.

This 18.8% tax is still less than the 20% capital gains in effect under Clinton.

 

 

Corporations don’t need another tax break to open more factories—They went overseas

Corporations are holding record amounts of cash. And none of them wants to keep it in the U.S.Cash holdings for U.S. non-financial firms rose 3% to $1.24 trillion, according to Moody's. That tops last year's all-time high of $1.2 trillion. Moody's also estimates nearly $700 billion, or 57% of the corporate cash total, is held overseas. The ratings agency attributes this to emerging-market strength, dividends and high levies on repatriated cash.

"Without permanent reform that lowers the tax on overseas profits, Moody's expects the absolute and proportionate amount of cash held overseas will continue to rise," the firm says in its release. Even among corporate behemoths, there's a 1%: Apple, Cisco, Google, Microsoft and Pfizer accounted for 22% of all cash balances. Apple alone represented 8% of all holdings.

 

How did we get here

National Debt Graph by President

http://zfacts.com/p/318.html

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

 

Make sure your student has the facts

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 retirement 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

Or paperback http://www.amazon.com/Wealth-every-school-graduate-century/dp/1466427906

 

What is your retirement income plan?

How much will you receive from Social Security?

From a part-time job?

From your nest egg?

From your other assets?

Having a plan makes your life easier in retirement. Do it now so you can have peace of mind. http://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016/

 

Did you receive an IRS notice about IRA contributions?

One member received a notice for more tax because IRS claimed the filers were not allowed to deduct all the contributions because the spouse was covered by a pension and the other was not. This member did not accept the IRS claim since their tax preparation was done online using one of the firms the IRS listed on its website. The member also looked up the rules about IRAs and sent the IRS a copy of the page in question. Recently, the IRS gave up and did not require more tax. The IRS is staffed with folks who may not know all the rules—too many to know. It also pays to mention that you used the software firm listed at http://apps.IRS.gov/app/freeFile/jsp/index.jsp?ck and paid $10 for it.

 

 

Our taxes provide extra income to mega farms—Socialism for the rich

In 2011, corporate farmers earned a record income of more than $100 billion. With crop insurance and very high prices helping to compensate for a smaller harvest, incomes should remain strong, says an Iowa State University agriculture economist. Our taxes buy insurance for farm businesses that can show a “revenue” drop. This drives up the price of land and rents for smaller family farms. Food prices soar to offset lower supply of crops that now goes to making fuel and exports. Large agribusinesses get bigger.

 

CA establishes citizen health care co-ops to save premium; expand benefits

“These CO-OPs are a help to California consumers by returning surplus revenue to members in the form of lower premiums, lower cost-sharing and expanded benefits.”

The bill implements a provision of the Patient Protection and Affordable Care Act.

The bill would also make co-ops in California eligible for federal grants.

Under the health care law, those seeking to form a CO-OP may apply for $3.8 billion in federal funds in the form of low interest loans. To date, 19 non-profits, offering coverage in 18 states, have been awarded over $1 billion by the Department of Health and Human Services.

 

GOP-run states have declined to set up health exchanges—citizens lose

Putting their citizens’ health farther in jeopardy, GOP-led states do not see the advantages of raising health access and screenings for those in need.

http://www.dailykos.com/story/2012/06/30/1104748/-GOP-governors-fight-to-preserve-dismal-red-state-health-care

 

Is buying long-term care insurance when you are young right for you?

The LTCi industry is pushing this product for the young at work because sales have been slow for seniors. The sellers use arguments about how people at any age may need care. They cite very inexpensive policies. They drag out the best-case “examples” from insurers to show that someone actually received $730,200 in benefits at age 28 or 44. There are few details but the message is clear. http://www.lifehealthpro.com/2012/09/06/the-24-year-old-ltci-claimant?ref=hp

You can hit the LTCi benefit lottery by playing and you must be in it to win. But this policy is a really poor choice for young adults with few dollars to use for the rest of their lives. Yes, there are a few people who benefit just like there are a few wealthy widows and widowers. However, this is not the kind of long-odds bet you want to make at age 21. Buy LTCi at work ONLY if you have maxed out your 401k and Roth IRA and have a golden comprehensive health policy. You have a greater need for ready money later in life without having to become disabled first. For example, $250 a month can be worth $1million tax-FREE later. And you don’t need to get sick.  http://www.amazon.com/Lies-Financial-Advisors-Told-alternatives/dp/1478281545

 

 

 

Book review: Bailout: An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street Neil Barofsky (Author)

A taxpayer’s look inside the way Washington acts when our country is in crisis created by one of its own power centers. Prosecutors hired to stop fraud and waste of our tax dollars are considered enemies by bureaus with the money to bailout their friends and intentionally hurt homeowners. Programs were “designed by Wall Street, for Wall Street.” (p. 129) All the banks that bet their money with AIG got 100% back—no losses. http://www.nytimes.com/2009/11/20/opinion/20krugman.html

Despite Congress funding to modify struggling homeowners’ loans, servicing banks and holding companies pushed foreclosures because fees are higher for them than for modifications. Treasury poured money into banks without any accountability, thinking that banks would never do anything wrong. Banks paid bonuses, fixed their balance sheets, bought other companies—spent all $700B without improving lending. Bank stockholders and executives that should have lost their jobs and their investments due to their own failed policies were paid off. Treasury even approved bonuses for the AIG execs who caused it.

Consider Angelo R. Mozilo, the CEO of Countrywide, one of the biggest bad loan originators. He never faced a trial let alone jail time. He was named second "Worst American CEOs of All Time". He received $57 million in 2005 at the height of the fraud.

 

Barofsky concludes, “future massive crises—and bailouts—are … inevitable.”

 

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

 

Socialism for the rich

Crop insurance for agribusiness—drives up prices for land too.       

Oil and gas subsidies—drilling already paid for by speculators.      

Cotton subsidies—we have to pay off Brazil farms.  

Rice subsidies—mega farms collect most of it—two firms got over half of total. http://farm.ewg.org/top_recips.php?fips=00000&progcode=rice&regionname=theUnitedStates

 

Who owns your account now?

American Financial Group's supplemental insurance business to Cigna

Hartford s Retirement Plans business to Massachusetts Mutual Life

 

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com