Showing posts with label uninsured. Show all posts
Showing posts with label uninsured. Show all posts

Friday, November 6, 2015

Congress just gave $17 Billion kickback to banks

Our so-called “representatives” gave $17 billions to Wall Street—Wasted tax dollars
All but two Republicans voted for the measure, including all but one member of the hyper-conservative Freedom Caucus, which frequently lambasts the grip of "crony capitalism" in Washington. Only 70 Democrats voted against the measure, mostly members of the Progressive Caucus. Wall Street lobbyists get reward for paying for our “reps” campaigns and perks. It just takes more complicated steps these days. Wall Street has paid $6.7 Billions to maintain these “subsidies.”
Corruption runs Washington despite Teas claim to reduce government (benefits to us)

Wall Street takes $530 billion of our money
Every year, you and I give up $530 billions of our returns to the middle people who claim they can outperform everyone else. Most can't for long and we lose. The average investor earned just 3.79% annually while a market index fund earned 11% over any period for 30 years. Move your money to earn 11% not just 3.79% and retire early. New standard for advisors (do what is right for client rule) could send $1 trillion to passive investment products, according to Morningstar.

Another way the wealthy avoid taxes
The CEO of a drug company retired at age 65. Elected to board of directors at another drug company, he is sold company stock at 86% discount. He gets stock options every year for going to board meetings. His new company has seen a 16,000 percent surge in value in 20 years. His income does not come from wage earnings so he pays no federal or state income taxes, no SS or Medicare taxes, no unemployment or disability taxes, and does need to fund his 401k or health care. Many of his expenses are covered by his company—working vacations, car and airfares, golf memberships, office staff and equipment, etc. He only pays tax when he sells stock he got at a discount. Pay taxes like the wealthy class: http://www.amazon.com/Most-U-S-Corporations-Pay-Taxes/dp/1514274116

We will end up as servants to the top 1%: 116 million to serve 100 people
The retirement savings accumulated by just 100 chief executives are equal to the entire retirement accounts of 41 percent of U.S. families -- or more than 116 million people, a new study finds. Many companies have cut funded pensions or limited matching funds for 401k plans for employees while increasing the benefits to CEOs. Many have authored their own deferred compensation plans that permit them to set aside salaries and bonuses on a pretax basis, with no limits. Later they use preferred tax rates. Some have supplemental executive retirement plans, (multiply years of service by final pay). Retirement plans now stretch to $234.2 million not counting Social Security.

Warren’s bill to raise Social Security benefits – seniors’ expenses rose not flat
Elizabeth Warren wants to give seniors the same pay raise enjoyed by CEOs—and to raise taxes on some executive pay in the process. The liberal senator from Massachusetts is introducing a bill on Thursday to boost Social Security payments for 2016 with a one-time bump in benefits. A $581 increase could cover almost three months of groceries for seniors.

2nd wealthy rancher refuses to pay US 
Defying his legal contract, LaVoy Finicum, Cane Beds, Arizona, told Washington he doesn’t acknowledge BLM. Inspired by the success of rancher Cliven Bundy, Finicum stopped paying fees for using our land and following the boundaries for grazing. Finicum thinks gov has no Constitutional right to manage lands shared by ranchers for grazing.

Advisors forced to “do the right thing” face layoffs
The new “fiduciary” rule means your advisor may have to quit if they can’t find a way to convince you that the high-priced is better than the low-priced fund. There are reasons to use an advisor but good results are not one of them. Low price is the best predictor of good investment returns. Charging you more means your ‘net’ is less. Simple math. Some analysts are predicting $1 trillions will move to low-cost index funds. You can benefit from this change buy moving your funds NOW ahead of the demand. There are only two companies that offer low price funds and only one that Buffett recommends: http://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

Is a “retirement loan” right for you?
I got a spam message that I did NOT click to learn about a ‘retirement’ loan. There is nothing except a scam here. When you borrow from your retirement fund—401k or other plan, you are creating a death spiral into a financial black hole. Retirement is not the time to pay back a loan. Using money that took you years to accumulate cannot be replaced without more years than you may have left. On average, it takes 10 years of investing $250 a month to earn $40,000 but you must double your savings. Perhaps bankruptcy is a better alternative since you can begin with a “fresh start.” It is not as bad as it once was considered. Promises of making tons of money using your life savings are only appealing to those of us who have become desperate. A fee-only planner may be your safest escape from this situation. An experienced advisor can help you find a way out of your dilemma. https://www.napfa.org/



File-Suspend for Social Security spousal benefit cut by Congress—GOP starter kit
The file-and-suspend strategy in which Spouse A files for retirement benefits and immediately suspends, to allow Spouse B to file for spousal benefits while Spouse A’s retirement benefit continues growing, is eliminated.” You can still use the strategy to change your mind and go back to work and let your benefits accrue at 8%.


GOP to end Social Security and Medicare as we know it
Their starter kit passed this week. The File-Suspend strategy for Social Security spousal benefit was cut by Congress. You can no longer file when you are working past age 67 so that your spouse can claim your benefits when they are out of work. This is the first step to cut Social Security benefits so the rich can keep more. Congress did not require the rich to pay Social Security tax on their income over $118,500 as Medicare does. That would guarantee our SS benefits past 2033.
Every GOP candidate has a plan to cut SS and Medicare. None want to end the $Billions we waste propping up child molesters in Afgan and terrorist funders in the Middle East! None wants to spend a dime on fixing our infrastructure to create jobs here—only there.

GenWorth Slides 45% This Year On LTC Woes
The stock of GE’s old financial arm fell 45% this year as long-term care insurance has taken more of its profits than expected. It is not clear whether the largest LTC insurer can overcome this drain without changing its products. Price increases have driven many to drop their policies and many insurers out of the business

Does our President need to be a good sales person?

            Questions are too hard for GOP because must admit mistakes/explain B.S.
Carson: “Joseph built the pyramids to store grain." Bible-based gov? Stone women?
Sanders: “Socialist programs we like”--Medicare, Medicaid, water, gas, courts, Army
               "We are going to ask the wealthiest people to pay more and raise corporate tax rate.”
Rubio: I will round up immigrants too. “Turning his back on the immigrant community.”

KY gov vows to drop 500,000 from KYnect insurance
GOP promised to end insurance for poor if elected. KY had seen largest drop in uninsureds after AR. Now largest group in US will lose healthcare: Back to emergency rooms for 5 hour wait.

GOP Prez would repeal ObamaCare and return to the days of old
Wealthy use health savings accounts and employer-provided plans and GOP wants these plans only. No gov marketplace nor subsidy so we would need to go to each insurance agent and compare costs/benefits. We would need to read each insurer’s plans to see if our doctor and our meds are covered by co-pay or out of pocket totals. Insurers only want healthy people, so any conditions would be handled by a state pool of last resort. For Medicaid and Medicare, coverage will be changed since we would have a certain amount (voucher) to spend and insurers would decide what and how much we are reimbursed if at all. We would have to research each insurer’s contracts to pick our own plan. Mrs Ted Cruz would lose coverage. 
Congress people have Federal health care so they pick any of 300 plans/premiums. 

Best college savings plans if your state offers no deduction
Rating-firm Morningstar picked these 529 College Savings Plans to use if your state-specific tax benefits don’t apply. Here are the Gold-rated plans for 2015:
Use the balanced funds that cost the least for the best risk/reward returns.



Used car bargains instead of new 2016
According to Kelley Blue Book, the average cost of a new 2015 vehicle is over $33k. Most lose 40% of their value in 3 years so I think it is wise to buy used. I just bought a ’12 Camry with 51K miles and new smell for just $13,000 tax, title, fees. I spent $9 a day for 3.5 years in my Wealth Reserve. 2012 Camry has high reliability and none were recalled so far. Used luxury cars are what the Working Millionaires buy because they know they can make their money grow at 10-12% during those first 3 years instead of losing 10-12% a year. http://www.kbb.com/car-reviews-and-news/top-10/best-cpo-luxury-cars-under-30000-2015/2000012102-8/


GOP is wrong—We need regulation otherwise everyone would cheat!
VW lied about emissions in more vehicles: Touareg, Porsche Audi A6, A7, A8, A8L, Q5.
            These engines spew nitrogen oxide up to 9 times the EPA standard. Our lungs!
Toyota recalls for fire in door, many cars for airbag, Ford for steering bolts, more more 
Chase caught overcharging and collections deception—no jail time—stockholders pay!
Student loan servicers caught allocated payments to maximize their fees like banks!
Mortgage servicers failed to automatically terminate mortgage insurance—refunds due!
Debt collectors caught using illegal tactics—complaints sustained but no jail time. 
Scott Doak, Xenia, Ohio, OVO Wealth Management, caught stealing money in Ponzi. 
No Jail Time--Are fines enough to make them stop cheating us?
           

GOP religion in LA schools
Teaching creationism as science and making Bible readings mandatory is what this school of the right thinks is education in America. Biology teacher says, “didn’t want to teach evolution because she was scared” about controversy. “The health teacher… has had students read Bible passages in class,” she said. At Airline High, a public school in Bossier Parish, Louisiana, they read Bible passages, and their teacher asks them to identify their favorite verses. High school sure has changed since I went!

What do you do with your unreliable car?
Sell or trade in before the repairs or after you lay out $1,000. Original warranty? http://www.brainycars.net/es/136/page2/18-Most-Unreliable-Cars-You-Don't-Want-To-Buy  Warranty is expensive but may save you in the long run. Shop for best deal: http://www.consumeraffairs.com/auto_warranty/



SCAMS
New IRS scam: threatening bodily injury against their victims. State Police say they have two news cases in York and Oxford Counties ME where the IRS scammers are demanding payments and threatening beheading if the victims don't pay up.
"It's bad enough when you're trying to get money from people but when you're threatening bodily harm It's really concerning to everyone here in law enforcement," 

Scott Doak, Xenia, Ohio, OVO Wealth Management, stole money in Ponzi run by William Apostelos Midwest Green Resources. Former doctor will pay fine after stealing $66 million from roughly 350 investors. No Jail Time 

HOW CONGRESS WASTES OUR TAX DOLLARS
            Will House committee spend $4 mil to investigate these 30 killings by our guys?
House Benghazi committee cost us more than $4.5 million to make Clinton look bad.

We wasted $2.7 BILLION on those giant blimps that broke free from Washington.

“We must guard against the militaryindustrial complex.” 1960, Pres Dwight Eisenhower.
Defense spending has DOUBLED in 14 years.
Since 2001, the base defense budget has soared from $287 billion to $530 billion — and             that's NOT counting the Iraq and Afghanistan wars, ISIL, Ukraine, Cameroon. 
US knew US would fail in Vietnam in 1965 but still 1.3 million dead, Kissinger diary.
We just sent “several dozen special operations forces into Syria.” Just like Vietnam.

America needs to take care of American’s needs FIRST!
Rebuild America Act: a five-year plan would invest $1 trillion and create or maintain at least 13 million decent-paying jobs—Senate Budget Committee but GOP says no.
Will GOP use taxes to move Alaska town due to global warming they don’t accept?

We are still wasting $8 million per HOUR we don’t have in Syria/Iraq/Afgan/  Ukraine/Cameroon. Obama keeps 9,800 in Afghanistan        
            Taliban captures Kunduz, Afghans run. We bomb hospital instead.

We bombed and killed our own Doctors without Borders hospital staff 10/2/15
            We pay bonus for kills – no wonder the world hates us!
             Saudi’s just bombed Doctors Without Borders hospital even with GPS

We are supporting child abuse by Afghan leaders by giving them arms/money.

100,000 our military in Germany and Japan….still. Why? Costs us $200 billion.
Residents of Okinawa object to tens of thousands of U.S. troops and another base there.

Who owns your account now?
L.A.'s City National Bank to Royal Bank of Canada. 


IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
973.746.2014
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Friday, May 22, 2015

Use the Buffett strategy to maximize your pension

Which investment option do you use for your 401k, 403b, IRA, any pension?
Use the Buffett strategy to maximize your pension. Avoid fees that can take up to 63% of your total accumulations.
Maximize your pension: http://youtu.be/taCOTU067qs (my first video)

Banks caught rate fixing and get NO jail time
Citibank and JPMorganChase as well as Barclays and Royal Bank Scotland pleaded guilty to antitrust violations stemming from their collusion to manipulate prices in the foreign exchange market over the course of five years, the Department of Justice said on Wednesday. Those banks and UBS have agreed to pay a total of $5.8 billion in fines. Citigroup and JPMorgan will keep their banking licenses and that criminal guilty pleas to collusion are not expected to have a material impact on their operations. Payments to the DoJ and Fed, are paid by stockholders, not the criminals. No punishment at all!

Supremes vote for worker—Employer must not screw us on fees
GOP-led court decided it was NOT appropriate for a multi-billion dollar plan to offer retail-class mutual funds that were way more expensive than comparable institutional-class funds. Employers, as 401(k) sponsors, have an ongoing fiduciary duty to monitor plan investments and remove imprudent ones. “The average person doesn’t necessarily know about the difference between institutional and retail fund fees; the fiduciaries are held to standards of knowing these matters; they’re the ones who should be monitoring and selecting funds with institutional fees,” says Jerome Schlichter, the plaintiff’s lawyer. “There are still billion-dollar-plus plans using retail funds.” Workers paying excessive fees over long periods reduces their potential nest egg by up to 63% according to John Bogle, Vanguard founder.
Low-fee funds beat high-fee funds at all times: http://www.amazon.com/Your-Retirement-Mutual-Funds-retirement/dp/1481114026

ObamaCare vote by GOP-led Supremes may cut 10 million American’s benefits
As many as 10 million Americans in 37 states could be affected by the widely anticipated ruling, which is expected late June. GOP plans to limit tax exclusions on employer-provided health insurance to $12,000 for individual coverage and $30,000 for family coverage, dismantle Medicaid expansion and disallow us from purchasing health plans across state lines, according to The Washington Times.
Will the million-uninsured July march on Congress to keep their ObamaCare working?

GOP crazies
Leader Boehner’s disdain for questions of Congress inaction on train safety is proved wrong. GOP did NOT give Amtrak power to install safety system in Philly. GOP cut more than $1 billion from President Obama’s $2.45 billion Amtrak funding request the day after the derailment. Congress failed to provide the railroads access to the wireless frequencies required to make the [safety] system work, so Amtrak was forced to negotiate for airwaves owned by private companies that are often used in mobile broadband. But the railroad struggled for four years to buy the rights to airwaves in the Northeast Corridor that would have allowed them to turn the system on. Congress guilty!

Jeb says we can use Apple watch instead of ObamaCare. "You're diabetic, you can't do that," Bush said, mimicking what the watch says, for example. "Obamacare makes that journey even harder," he said, calling for the law to be repealed and replaced. "It's so complex and so big." Yet, Jeb and his donors have no alternative.
Will Bush pay the $800 for my health care watch? What if I have to go to hospital?

GOP candidates deny warming but are they smarter than NASA scientists?
NASA thinks another Antarctic slab as big as Scotland will melt by 2020. Will a GOP prez just ignore the NASA science? What about asteroid heading for earth? Would GOP even tell us if they don’t believe in astrophysics?

GOP in Ohio want to bring back poll tax made illegal by Supremes in 1966
A bill introduced last week would require many Ohio residents to pay an actual poll tax  $8.50 in order to vote citing voter fraud. But there have been only 17 of 5.6 million cases in Ohio 2012 election. As in PA, GOP says they can’t win unless they suppress the votes.

AZ dumps 2,700 kids from welfare—“get back to work”
Arizona will drop at least 1,600 families — including more than 2,700 children — from the state's federally funded welfare program on July 1, 2016. The cuts of at least $4 million reflect a prevailing mood among GOP lawmakers that welfare, Medicaid and other public assistance programs are crutches that keep the poor from getting back on their feet. Lawmakers can't live on $7.50 either. 
GOP looking to bring back child labor sweat-shops?

GOP Jindal will use Obama-style order to allow discrimination
Jindal (R) will sign an exec order to implement Louisiana’s proposed Marriage and Conscience Act which failed in the state’s house. Last year, Jindal ripped Obama for issuing executive orders:  “This is an arrogant, cynical political move by the President, and it’s why so many Americans no longer trust this President to solve the problems we face.”
But is it OK for Jindal?

GOP Christie living in another universe
Polls say his 65% negative rating among NJ residents was because they want him to stay as Gov.??!! After claiming “I knew nothing” of the bridge closing by his secretary and appointees, he tells NH voters that he knows the truth about Social Security. At dinner, he says he doesn’t give a sh___ about any of this.     

DEM crazies
Hillary’s baggage is heavy. What about Bernie and Liz?
Bernie introduced legislation to make college tuition-free. "We live in a highly competitive global economy and, if our economy is to be strong, we need the best-educated work force in the world. That will not happen if, every year, hundreds of thousands of bright young people cannot afford to go to college, and if millions more leave school deeply in debt," The plan will provide tuition-free higher education to students at four-year colleges like European nations. 
Bernie and Liz have no big donors so they will never get elected, but … .

Are you ready to retire?
The average American’s assets less liabilities not counting their home totals less than $50,000 by age 65. Most of our net worth is tied up in our house. The median net worth for a person aged 70 to 74 drops to $31,823 from $181,078 when home equity isn't included. That means our home is usually paid for but we must live on average SS benefits of $1,294 a month or $15,500 a year. If we are married, that’s $30,000.

Workers plan to “work till I drop” but don’t
Gallup survey found that only 1/3 workers aged 67-68 are still working. Many can’t find work or are unable to work, even part-time. Modern medicine has increased the life expectancy so living 30 years on Social Security and savings is becoming the norm.


Is dumping the debt (bankruptcy) right for you?
Business failure and health care expenses are the reasons for many older Americans picking this option. Chapter 7 erases debts that can never be paid back but the stigma can last. Despite learning to keep it secret from family and friends, your new life can eliminate the stress of collections. And bankruptcy is not the end of the world. One client paid $2,500 in deductible legal fees to discharge credit card debts totaling about $200,000 and was able to refinance their home mortgage at 3.25% and obtain new limited no fee credit cards just 5 years later. They had family income of about $80,000. They were able to keep their home worth $500,000 with mortgages of $300,000, two older cars and all their retirement accounts of about $550,000. They could not discharge their two mortgages or student loan debts. Each state has different laws about what is “exempt” property so a special lawyer is necessary.

IRS tax bill can be negotiated
If you prove you can’t pay now, IRS offers several solutions. Skip the private company offers to help you and go directly:  http://www.irs.gov/uac/New-IRS-Fresh-Start-Initiative-Helps-Taxpayers-Who-Owe-Taxes. You can stop some of the collection steps. http://www.irs.gov/Individuals/Offer-in-Compromise-1

Does your auto insurer overcharge you?
Most of us pay too much because we don’t shop and don’t ask for discounts. 84% of us don’t even ask. There are over 15 discounts from most insurers. Avoid duplicate coverage--life insurance, towing, low deductible, coverages you never collect on. Discounts can mean $22,000 over 10 years. I pay less every time I shop insurers.


Star Trek depictions might be true!—matter goes in and comes out in other galaxy
Scientists think quantum paradox (particle pairs “talk” across galaxies) may explain how two black holes could be connected through far reaches of space through “wormholes.”
Read more: https://www.quantamagazine.org/20150424-wormholes-entanglement-firewalls-er-epr/#ixzz3aJGAcYZb

Nissan SUV tops crash tests but Leaf tops wholesale value loss list


Cancer charities take Americans for $187 millions
The charities — the Cancer Fund of America, Cancer Support Services, Children’s Cancer Fund of America and the Breast Cancer Society — were created and controlled by the same network of people and led by James Reynolds Sr., the F.T.C. says. They stole $187 million in donations for personal expenses, in one of the largest charity fraud cases ever. Always check with Charity Navigator before giving.
Is life-term as bed-pan orderly at Gitmo too severe?

SCAMS           Why are we still paying $700 Billion a year for WWII deployments? That is 27 cents of each dollar in taxes—the largest part of our money—and we aren’t even at war. We could pay off our debts and fix our schools, roads and bridges!
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.

We are building another military base for Japan at Henoko. Air Force Gen. Ronald Fogelman admitted that the Marines “serve no military function there. They don’t need to be in Okinawa to meet any time line in any war plan.”
Are we preparing for WWII again? There are 1,208,083[1] armed personnel in the United States. Our taxes pay for about HALF of the WORLD’s military expenditures every year. We have wasted $398.6 billion so far on the F-35 program—they can’t fly safely.
We just can’t afford to pay for everyone else’s defenses anymore.
Japan, Germany and S. Korea can pay to defend themselves.

The War on Terror requires special forces attacks on top terrorists at their homes like Obama’s al-Amr May14 Abu kill. Iraq proved converting a nation to Western-style republic doesn’t work. The troops we trained ran away. Former Saddam army now ISIS. We are wasting $4 billion a year on Afgan tribal rivalries; paying ransom to Al Qaeda; supporting corruption with our money.

Regulators fine PayPal
Regulators charge PayPal a fine for illegally signing up consumers for its online credit product, PayPal Credit, formerly known as Bill Me Later. The CFPB alleges that PayPal deceptively advertised promotional benefits that it failed to honor, signed consumers up for credit without their permission, made them use PayPal Credit instead of their preferred payment method, and then mishandled billing disputes. 

Taking $3 million gets you 9 years; but crashing US system gets 0 years
A St. Louis-area investment advisor and financial radio show host Bryan Binkholder was sentenced to 9 years in prison for losing just $3 million that investors gave him to use as loans to real estate developers. Wall Street firms (big Congress donors) brought the system to the brink and not one of them went to jail. Median household wealth fell 35% from $106,591 to $68,839 between 2005 and 2011.[32] Even the most visible criminal, Angelo Mozilo of Countrywide, taking $470 million paycheck, got no jail time.
Hell yes, big crime pays!


IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
973.746.2014
Alerts 
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