Showing posts with label big banks. Show all posts
Showing posts with label big banks. Show all posts

Friday, February 19, 2016

Another corporation leaves US with their tax bill

Another American company moving to Mexico after taking our tax money
Carrier made air conditioners in Indianapolis. Mexico did not suck the jobs out of America. We sent them the jobs. American businessmen decided to move 1400 good-paying jobs to Mexico so United Tech’s group could get a bonus to cut costs. This violates their mission Core Values and history.  CEO Nelson claims he is dumping 1400 workers to “maintain quality.” Quality comes from design and employee commitment. The company received a $5.1 million tax credit from the Department of Energy — for the sole purpose of creating and maintaining green jobs in the United States. They broke promise to these workers and America. No wonder Trump and Sanders have voters.
Avoid paying the taxes Carrier used to pay: http://www.amazon.com/Tax-FREE-Income-000-tax-free/dp/1477472584

Did you get a 23% or 35% pay raise for your work in 2015?
Bank of America CEO Moynihan received a massive 23% pay hike in 2015, pocketing over $16 million. What did you do for your raise? Moynihan drove the company stock DOWN 28% in the last year (down 73% in 10 years). The market rose 48%. He DOUBLED the loss in stockholder equity. This usually means the boss did a bad job but not for bankers. Like the crisis of 2007-8, bankers are rewarded for losses. Chase’s Dimon's 2015 compensation increased by 35 percent to $27 million. They get credit for increased earnings even though it was the economy not brilliant management that did the trick. Brian, as manager, actually lost $10 BILLLION in legal costs from bad decisions.

Investment advice you won’t get from your broker/advisor
The investors who actually make money from what they know and NOT from your money say: “the time to buy is when blood is running in the streets." Your broker makes money from your money when you trade so their advice is BIASED. They are just salesmen not knowledgeable investors. Real investors are patient and know it is time to buy oil-driven stocks now AFTER they have fallen 30%. When they rebound, real investors will profit BIG. Master investors Warren Buffett, George Soros and David Tepper have bought Phillips66, Kinder Morgan and other energy related stocks. Since regular investors don’t know energy companies well, they invest in the group like Vanguard Energy Fund. It is one of the Vanguard Top Ten: http://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

Uncle Sam will pay you to save for retirement
Saving for retirement is hard but you can get help. First, make an IRA contribution for 2015 by April 18, and reduce your income taxes. Second, take the Savers Credit up to $4,000 for your IRA, 401k, SEP, SIMPLE, etc contributions. Third, reduce your payroll tax withholdings to match your current refund so you can start saving this year. You will have more money in your paycheck each month to save and invest. This will put the Miracle of Compounding to work for you now. $250 a month is worth $1,000,000 later: http://www.amazon.com/The-Miracle-Compounding-Turn-into/dp/1470176513


Get your refund quickly
File using an IRS approved vendor and file for FREE electronically. Have the IRS credit your bank accounts in 2 weeks. Most states follow the same pattern. Most vendors do Fed for FREE. Some charge for state filing. The nice part is that once you use them, they carry forward your data and credits for next year. Usually, you just copy your W-2, 1095, etc forms onto their screen forms. Fairly easy and most offer all the forms and worksheets you need to file. If you ever have a mistake it is easy to file an amended return since you have the old data in your file online. Prices increase later in the season so file early. Remember, IRS does NOT call you asking for money. Ask scammers for letter. 

What do the GOP candidates say they will do?
They don’t all agree but these seem to be the things they agree on.
No abortions even for incest or rape or to keep mom from dying.  Rubio
No immigrants: must wait/pay fees/file forms even if life is threatened at home. Trump
No/low taxes for those that live on their wealth—0 tax on dividends/gains. Rubio
No complicated tax rules for wealthy and corporations. Cruz
No hold on corporations: cash is speech, unlimited promotion, inequality OK, no jail
No welfare: everyone must work or use soup kitchens, ER, church gifts and shelters.
No healthcare for all: use hospitals for routine care. But Cruz has ObamaCare!
No control on guns: shoot if you feel threatened by music, popcorn, people, etc. Bush
No regulations on commerce: bad drugs, bad air, bad water, bad products, bad serviceOK
No tolerance for non-Christians—War on Christianity ended by Trump
No sexual activity other than marriage—abstinence only. Rubio Cruz
No government programs to help people less fortunate--cut SS benefits Cruz
No government spending for non-defense—increase deficit. Cruz by $8.6 trillion.
No cuts in military spending--increases even in peacetime. Cruz
No plan for global environmental destruction, scientists are wrong Carson Cruz Trump

Conservatives want to keep social issues as they used to be, so they delay, delay delay in Congressional matters except military spending and tax cuts for already wealthy. “Starve the beast” (no taxes) is their motto but 2017 GOP tax plans increase deficits to pay for greater spending. GOP has become the NO tax and spend party—run up deficits.  
"Bush I. handed Clinton a $269 billion budget deficit.
Clinton handed Bush Jr. a $127.3 billion surplus.
Bush II handed Obama a $1.4 trillion deficit.
Obama has reduced Bush Jr.’s deficit to just $492 billion.
GOP = Tax (cuts) and Spend Party
Bush III $3.5 TRILLION over 10 years.
Rubio $6.8 TRILLION over 10 years.
Cruz $8.6 TRILLION over 10 years.
Trump $12 TRILLION over 10 years.


Yes, the market is down 8%. What should you do now?
Franklin Resources said Wednesday that investors withdrew $20.6 billion in the fourth quarter. Franklin saw investors pull $28 billion in 2015, the biggest quarterly redemption in its history. Investors have locked in a loss. They have lost ground but might be a good buy now near bottom. Franklin’s assets under management fell 13 percent over the past year. Vanguard has been taking in assets from many other fund managers because fees have been reduced as market returns have fallen past 0%. Low fees means you lose less. Consider your long-term investment returns. Stocks have provided 10-12% for any 15 year period. Balanced (stock/bond) funds like Wellesley Income have provided 10% a year since 1970 with only 2 down years. This year the stock market is down 8.5% but Wellesley is down only 0.8%. If the market regains its momentum in 1 week, you will have missed an 8% gain. You never know and so “stay the course.”
Wellesley is one of the Vanguard Top 10 funds you keep for life: http://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X



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

Trump: “Cruz can’t run against me” suit because not citizen—new Apprentice show?
            “We’re voting with our middle finger,” Trumper said.
Cruz: Trump defended PParentd, attacked Bush II, and dirty tricks/lies.
Rubio: Tax for wealthy will be ZERO, China lends US another $6.8 trillion.  
Bush III: I spent $36 million to lose in NH and my brother will win SC for me. (63% of GOP still thinks Iraq had WMDs). Trump “fears me” because he attacks me.????

Trump’s immigrant First Lady--Melanija Knavs knows clothes’ design.

Sanders: A Wall Streeter wants his reform to eliminate cheating. It is Fairness stupid. 
            Financial crisis put no one in jail, thousands in jail for 1oz pot.

Scalia legacy:  Bush illegally installed as President, ‘corporations are people’ ideology: “money is speech” so OK to buy elections (Bush III still running after IA, NH loss), corporations can pick which birth control employees use/can’t use, SCOTUS decisions—4-4 ties for over a year bec Senate won’t consider Obama’s legal pick. Is Senate racist? GOP fears Obama confirmation now hurts 2018 elections. Scalia death suspicious: declared ‘heart attack’ by TX JP yet did NOT actually SEE the body and did not order autopsy. How can decide heart attack without examining body? "My gut tells me there is something fishy going on in Texas."
So YOU can be declared dead in TX without being seen? JFK killed in TX without exam too. It required Warren Commission to guess at death and now we will never know.

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!

Timothy Dembski Walter Grenda, Buffalo, caught misleading investors who lost 80%.
Former head, bank bailout: bank-busting is necessary or we have another 2007 meltdown
Future voters: under a new Oregon law, all eligible voters are registered automatically.

We need regulation—GOP is wrong—companies/cities wouldnt fix bad products on own


Tax regs in future may change value of your Roth IRA
Obama has proposed changes in retirement funding that may change how you structure your future retirement income. Changes are unlikely this year but could be included in “the middle of the night” budgets like the recent ban on Social Security strategy of “file and suspend.” Retirees who were unable to find work could tape their spouses’ benefits early to offset the 25% cut by filing early. Some benefits of a Roth IRA could be dropped: Required RMD, no IRA conversions, no contributions after age 70.5.

  

How our government wastes our money
OR terrorists left booby traps to kill FBI/police. Go to Gitmo?
Cuba returned US missile that was “inadvertently” shipped to Cuba by Spain, 2014.???

SCAMS
Pope OKs contraception for Zika: “avoiding pregnancy is not an absolute evil.” WOW
IRS warns of e-mail schemes rose 400 percent in phishing and malware incidents.
Hollywood Presbyterian paid a $17,000 ransom for hacked patient records. Our Future?

IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
973.746.2014
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Friday, December 25, 2015

Did your "representatives" give YOU any tax breaks?

Did your “representatives” give you tax breaks like those for the wealthy?
GOP says that the package of tax breaks “will grow our economy and help American taxpayers keep more of their hard-earned dollars” while providing “certainty to American taxpayers.” This is the old “trickle down” strategy. Business got research and development tax credit and heavy machine deduction to $500,000. A business can deduct 50% of new equipment and vehicles in 2016. They got many other tax breaks.
Take your tax breaks: http://www.amazon.com/The-Tax-Shelter-Young-Americans/dp/1500426520

Succeed in this angry American decade
Many Americans are angry with their situation just like during the 30’s Depression. Leaders are competing for support by driving wedges between us. We are unhappy that our labor intensive jobs have flown. We are unhappy that we are stuck with wages that don’t increase with our productivity. The wealthy now own 90% of assets. 20% of children live in poverty. Our middle-class is shrinking while new entrepreneurs make a fortune overnight. America has swung to its individualistic right. The trust of an earlier period of the American Dream for all is shrinking fast. Demagogues appear in times like these because they offer simple solutions—target one group and control the angry mob as leader. Leadership in one man (usually) allows power to corrupt absolutely. But in our short history, we have voted for a Teddy to breakup corporate power and FDR to fight right-wing extremists overseas. Most of us do not like giving all the power to one person like our ancestors did.
A new poll shows that the majority of us do NOT feel comfortable with a group hater as President. We prefer a positive hopeful future for all of us even if it isn’t possible.

27% student loans owed by seniors are in default—Solution?
The amount of education debt held by people 65 and older has risen from $2.8 billion in 2005 to $18.2 billion in 2013. Gov guarantees the loans and lenders can collect our Social Security benefits FOREVER. There is no time limit and no bankruptcy discharge. Bankruptcy judges have said that to get education loans wiped away, borrowers must show their entire lives would otherwise be characterized by a “certainty of hopelessness” or that repaying the debt “strips [the debtor] of all that makes life worth living.” Federal rules allowing education debt collectors to auto-dial borrowers’ cell phones. Parents become indentured servants for life. See discharge process: https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation


Why are women better investors than men?
New survey says men lost 1.8% while women only 1.4% in 2015. They become rich faster than men now. Over time, both would be better off NOT trading the study shows. Trading assumes we know or we think our broker/advisor knows what will happen in the future. Greed and fear are Wall Street’s tricks to separate us from our money like fortune tellers. Buffett says his holding period is forever. 257 hedge funds closed this quarter because they lost so much money. The record is clear: earn 3.79% with managed account or 11.06% with index funds. If we just held the whole market and didn’t try to time the ups and downs, we could earn 10-12% a year. This is the record you could have:
2014    13.80%
2013    32.43
2012    15.88
2011      2.07
2010    14.87
http://www.amazon.com/The-Pimps-Wall-Street-middlemen/dp/151525254X

Why let your broker/advisor take 2/3rd of your returns?
You put up the money and take all the risks. You should earn the full amount of return the market provides. Your broker has no special information or technical tools to win or they would own their own management fund. As a sales person, their job is to sell you for a profit, just like all salesmen. Successful investing is about putting your money to work not playing poker or the slots. It takes a lifetime to build a successful business. Why would investing be any different? Let your money work and compound for you. Over time your $250 a month compounds to $1 million. Earn 11% not 3.69%:
 http://www.amazon.com/Earn-11-11-3-69-On-Investments/dp/1502412187

Which vehicles last at least 10 years?
Sad but true that all 10 have foreign labels but are made by American workers. American management seems to have hard time managing the process of making reliable cars. Perhaps their top brass does not stay long enough in the job or wants more money or wants to build a corporate empire or run the company into bankruptcy or sale in order to cancel labor contracts or run up the stock price by cutting R&D so the options have more value or retire with a $1 million pension while cutting everyone else’s pension and health care benefits. It is amazing that the best cars are made by the management that takes the fewest rewards. Bottom of the reliability scores: Jeep, Dodge, Ford, Chrysler
Compare management of Chrysler now Fiat, GM now new GM, to Toyota and Honda.

Does our President need to be rational and truthful?

Cruz on budget: "It was Republican leadership playing Santa Claus to the lobbyists”
            “My kids can hit Hillary emails in ad but don’t put them in cartoon.”
Trump: “while I hate some journalists, “I’d never kill them.”
            “There is no proof Vladimir Putin has killed enemies or journalists.”
            Putin is a “strong leader” Putin thinks Trump is “brilliant”
Clinton: “Trump is ISIS best recruiter” No comment on Trump vulgarity—IA take note.
            “I will shut below average schools”
Christie: "does anybody really care if Hillary apologizes to Donald or vice versa”?
Carson: “I never saw a body with bullet holes more devastating than taking the right to             arm ourselves away.” Carson never lost a child in gun fire.
Jeb: “I am more comfortable ranking lower in the polls because it means less scrutiny.
Graham: I told them how to fight ISIL so now I’m done.
Sanders: “Sad reality is Wall Street regulates the Fed.” Fed ready to bail them out again.

New poll: Americans oppose Donald Trump’s plan to ban all Muslims from coming to the country by a more than 2:1 margin (66 percent to 27 percent). The partisan divide on the issue, however, is sharp. Democrats would accept Syrian refugees (74-22) while Republicans (82-13) and independents (51-42) would ban them. All three groups oppose barring all Muslims: Dems (79-18); Republicans (51-41) and independents (67-22). A majority (55 percent) of Americans believe domestic extremists are a bigger threat than foreign radicals, while 55 percent think Islam is a peaceful religion. Americans also support (50-42) sending ground troops to fight ISIS.

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.”
               Supremes stop us from suing—State courts no longer available to sue corporations!
Lisa Lewis, former Fidelity broker, caught check-kiting from client accounts.
Olympus Corp’s duodenoscopes found to kill 21 patients but not disclosed to anyone.
LifeLock caught (AGAIN) promising what nobody can deliver—ID security
VA revokes 25 state’s gun permits to fugitives, stalkers and drug dealers, etc.
Wall Street could lose $19 billions if Fiduciary Rule to protect us becomes law. Currently             savers are losing $ billions with high fees and bad sales practices.
Galen Marsh, MorganStanley, caught stealing 730,000 customer account records  
Honda air bags kill 9: why do we leave testing to the companies themselves?
  
We need regulation—GOP is wrong—companies would not fix bad products on own

Is a SBLOC right for you?
Securities-Backed Lines of Credit are being marketed by your broker/advisor but regulators are concerned that when your portfolio loses value, you may have problems with repayments. Your loan may be called at any time so the extra capital may not be worth the risk especially if you are using assets you expect to grow long term. On the other hand, if you have a sure thing—an investment you know will perform (?) and you pledge a small part of your portfolio, the low fixed interest rate on these loans may be perfect. Compare a 15 month 0% balance transfer loan from your credit card. A variable rate SBLOC may add another level of risk not worth taking.
Check with Warren first: http://www.amazon.com/Warren-Buffett-Your-Investment-Advisor/dp/1518690963

Future of computers, internet and work?
Many are already doing everything online on their smartphones, so why pay for home broadband or landlines? Cable firms have a problem. Where will we do work if we are already on call from employers via phone. If all major computing is done in cloud, why keep data on separate drives? We won’t need a wallet or purse for creds/info. Work will be running machines that actually do the physical stuff except personal services like plumbers, electricians and movers. Most of us find answers online now—diagnose illness, home and car repairs/problems/purchase, work issues. We buy almost everything online from Amazon, et al so retail stores become rare treat. What change is next?
Already, some create their own financial system to produce tax-FREE income: http://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466


HOW CONGRESS WASTES OUR TAX DOLLARS
Special Inspector General John F. Sopko has spent years documenting waste, fraud and abuse in the U.S. military’s efforts to rebuild war-torn Afghanistan. We have spent $110 billion on reconstruction projects in Afghanistan. When adjusted for inflation, that total exceeds the value of the entire Marshall Plan effort to rebuild Western Europe, WWII.
=More than $8 billion in spending on counter-narcotics efforts in Afghanistan that have “failed by every conceivable metric. Afgans grow poppies like we grow corn.
=The purchase of nearly $500 million worth of airplanes that never could fly and had to be turned into scrap.
=Construction of a building that literally began to melt when it rained.
A $500,000 health clinic that lacked water and electricity. Newborn babies had to be washed in a nearby dirty river.
= Biden promised an additional $190 million to fight corruption in Ukraine's law-enforcement and reform the justice sector. 
=Congress cut future Social Security benefits to spouses  but not their own account.
=Navy's new $362 million ship broke down and had to be towed--lasted three weeks.
=VA keeps paying managers found guilty of retaliation on workers who complained.
=federal workers, who will get a 1.3 percent raise in 2016 but NOT for SS recipients???
=$400 million for new FBI HQ in VA or MD.
=IRS stopped from limiting political gifts from non-profits so rich can buy more votes.
= Military-industrial got biggest bump. For the first time since Cold War, contractors are sending tanks, fighting vehicles and heavy weapons to several Baltic and eastern European countries. Europe can’t defend itself? Putin responds with more nuclear weapons. We have 50,000 ‘active’ military that can’t deploy but are being paid. More =Nat. Guards needed to fill in. Civilians hired to steer drones from Las Vegas and get bonuses.  
=US just killed ten Iraqi soldiers by mistakenly bombing own lines near Falluja
=IRS handed out $46 million in tax refunds in 2013 by mistake—hire bill collectors
=FL postal worker landed his gyrocopter at Capitol proves $3 billions wasted

SCAMS
David J. Homan, Wells Fargo Advisors, Saginaw stole $513,000 from elderly by fraud.
Over 3,000 prisoners were mistakenly set free early in Washington state computer bug.
Lottery fixed in IA, CO, OK, WI by guy in charge of security—Nice job.
Wall Street claims average investors will be harmed by new “do the right thing” Rule.

Indiana will allow alcohol sales on Christmas for the first time – IN turning Left?
KY GOP cancels voting rights of more than 100,000 nonviolent felons.

Who owns your account now?
Deutsche Bank private-clients to Raymond James, 
Nomura Holdings, Japan, agreed to pay CIBC about $1 billion for its 41 percent stake in money manager American Century.


IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
973.746.2014
www.InsuranceAdvisorsNetwork.com
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