Introducing Law Steeple author of "No Sweat Investing"
Law has been one of our Insiders who helped create the Insider’s Guides to Financial Services. He has put together his experience with clients investing in No Sweat Investing: amazon.com/No-Sweat-Investing-your-money
Managed mutual funds can’t justify the high fees anymore
Index mutual funds took in a record $76 billion last year, and exchange-traded funds, which are predominantly passive, scored another $121 billion. Actively managed funds, meanwhile, lost about $9.4 billion, according to Morningstar Inc. The outflows create “hidden” costs, such as tax consequences from forced selling or extra transaction costs. You may be paying for the shift from managed to index funds during this period of low market returns. If your advisor made $0 or lost money, you still had to pay for their salary and bonus plus the taxes created when they sold assets to reimburse clients who left. Members have decided to seek Wealth Without Wall Street. amazon.com/Wealth-Without-Wall-Street-Commissions/
Half of American households receive some government benefits
Some 48.6% of the population lived in a household receiving some type of government benefit in the second quarter of 2010, up a notch from 48.5% in the first quarter, according to Census data. In the second quarter, 34.4% lived in a household benefiting from food stamps, subsidized housing or Medicaid, among others.
This does not include House members like Bachmann’s farm subsidy and six Democrats and 17 Republicans who receive over $6 million in addition to salary and expenses. http://www.ewg.org/agmag/2011/03/farm-subsidies-paid-to-the-members-of-the-112th-congress/
This does not include Congresspeople who receive other direct subsidies (oil, gas, etc).
This does not include corporations like GE that received tax benefits of $3.2 Billions.
This does not include 66% of US corporations that pay NO tax at all. http://www.forbes.com/sites/timworstall/2011/08/16/two-thirds-of-us-corporations-dont-pay-federal-income-tax-true-but-horribly-misleading/
America’s tax system is complicated and slanted.
Obama’s State of Union gets voter’s OK
Polls show that even GOP voters favor Obama proposals. http://www.whitehouse.gov/photos-and-video/video/2012/01/25/2012-state-union-address-enhanced-version#transcript
Women short changing themselves on retirement
Only 8% of female workers believe that they’re building a large enough retirement fund for themselves, according to the Transamerica Center for Retirement Studies. Yet women live longer and thus need income for more years. Women who invest are more confident in meeting future needs. Members use our Guide to plan future: amazon.com/Leahs-Money-Book-control-money/
Romney as 1 percenter pays only 13.9%—Newt at 32%
Romney’s 2010 return shows he received $22 million—much of it is so-called carried interest, which is taxed at the preferential rate of 15% and is reported as a capital gain.
Carried interest is compensation paid to general partners at private equity firms -- such as Bain Capital, which Romney left in 1999. Venture capitalists like Romney put up a little capital and use OPM (other people’s money) to buy a company, reorganize and sell it, taking 20% of the sale price. Partners usually defer as much of their compensation as possible. They invest the rest offshore so they can control taxes. Romney gives over 10% of his income to charity so his tax rate may be less than 14%. Some analysts say his returns have been reworked since he has been running for Pres since 2004. Warren Buffett said, “He makes his money the same way I make my money.” “He makes money by moving around big bucks, not by straining his back or going to work and cleaning toilets or whatever it may be. He makes it shoving around money.”
By contrast, Newt earned $3.1 million in 2010 and paid an effective federal tax rate of about 32 percent, returns released by the candidate on Jan. 19 show. Newt sells books and steers Congress about companies he “advises.” Romney pays tax of $3 mil on $250 million in assets—about 1.2%. Most people pay over 5% of their assets in tax. Median US income is $33,048. The 2011 tax table says this person would pay 15%, just like Romney. Taxing global assets, not earned income, might be the fairest way to tax.
Romney gives lady money after she says God told her to follow Romney bus
And pray for him. SC treasury official pays her light bill.
"God didn't tell me to go to nobody else, He told me to pray for Romney," said Williams, when asked why she has decided to support Romney. "I listened to the Lord."
IRS on smartphones ????
The IRS offers multiple avenues for you to get tax information. If you have a smartphone, we have an app! If you like to watch videos from your phone or computer, we have dozens of helpful YouTube videos…and, of course, follow us on Twitter.
Check out how the IRS delivers the latest tax information, initiatives, products and services through social media.
1. IRS2Go The IRS recently launched a smartphone application that allows you interact with the IRS using your mobile device. Our app can help you get your refund status and tax updates. IRS2Go is available for the iPhone or iTouch and the Android.
2. YouTube The IRS offers short, informative videos on an assortment of tax-related topics through our YouTube Video channel. The videos are offered in English, American Sign Language and a variety of foreign languages.
3. Twitter IRS tweets include tax-related announcements, news for tax professionals and updates for job seekers. Follow us @IRSnews.
4. Audio files for podcasts These short audio recordings provide useful information on one tax-related topic per podcast. They are available on iTunes or through the MultimediaCenter on IRS.gov.
Tax filing FREE if income (AGI) under $57,000 and $10 if over $57,000
The internet has provided the means to efile taxes to IRS and state government for $10 or free. Using IRS list, pick a provider or search the web for software that has no income limit and files the state return too for $10. Using last year’s return most people can figure out what goes where and beat the cost of an accountant. Some of the storefront vendors charge over $50 for a simple return. Avoid online vendors who charge more than this since you are doing the work not them. Members know how to save on expenses so doing taxes can be learned too.
IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
347.746.2014
www.InsuranceAdvisorsNetwork.com
Alerts available at http://dankeppel.blogspot.com/
Friday, January 27, 2012
Friday, January 20, 2012
Are we losing our democracy?
Are we losing our democracy?
When wealthy contributors can give $ millions to candidates thru PACs and blanket electorates with TV ads non-stop, is it possible to buy an election? Could a foreign government via a puppet give $ billions to a PAC to sway voters to someone favorable to them? The Supreme Court decided thatcorporations are people (?) and their money is free speech. So, is America different than other governments that allow one group to slant the elections? http://www.youtube.com/watch?v=SprsUaX5j78
And why didn’t they count all the votes in 2000 like the Constitution says in Article II Section 1? It is the House not the Supremes that is supposed to make the decision. The founders knew Justices are political appointees not elected representatives. http://www.archives.gov/exhibits/charters/constitution_transcript.html
Romney seems to be the perfect corporate ruler. He bets $10,000 on things we would wager a $1 on. He does not earn a living. He pays a tax rate based on investment income, not earned income. Never got a paycheck. http://www.investmentnews.com/article/20120118/FREE/120119921/-1/INDaily01&dailycount=3&issuedate=20120118’
Newt makes $ millions by influencing Congress by giving “advice” not lobbying, he says. http://www.washingtonpost.com/politics/the-influence-industry-gingrich-case-raises-question-what-is-a-lobbyist/2011/12/07/gIQAtW7ZdO_story.html
Santorum is the largest supporter of Big Government earmarks. http://www.nytimes.com/2012/01/16/us/politics/as-rick-santorum-secured-earmarks-2006-donations-flowed-in.html?pagewanted=all
Obama is out fundraising instead of governing. He is said to be on track to pass the record $750 million this year. http://www.foxnews.com/politics/2012/01/12/obama-fundraising-could-fuel-small-economy/
Many GOP-run states are enacting laws to make it harder for people to vote even though there is no known case of fraud being prosecuted. http://www.miamiherald.com/2012/01/16/2592500/holder-decries-states-efforts.html
MI has gone so far as to eliminate the local governments elected by the citizens of 5 towns. http://news.yahoo.com/marchers-protest-michigan-emergency-managers-governors-home-234600752.html
Is the new Suze Orman debit card right for you?
One critic called the talk show host's card “the cream of the crap,” noting the fee structure and features are comparable to the best prepaid debit cards already on the market. However, he and most other financial experts agree the category is a dog. “You are still paying at least $36 a yearto have access to your own money,” Mr. Ulzheimer said. “And you're doing nothing to help with your credit.” “It might be a conflict because people view her as potentially objective,” he said. Her $63 newsletter promises to tell you where to invest your retirement money. However, Ms Orman is no longer a registered advisor. Members remember her pitch for her $180 credit monitor service! WOW. Better alternatives in our Guide: : http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/
How is your auto insurance company rated by customers?
Check at http://www.insure.com/best-car-insurance-companies/
New Year resolution—Stop leasing your cars
Leasing a vehicle for 36-39 months is waste of money. You could be investing that $10,000 -$12,000 to make sure you have enough later on. Buy a used car that still has good mileage and low maintenance. http://www.kbb.com/car-news/all-the-latest/10-best-used-cars-under-8000-1/
Allstate raises rates, again, in IL for homeowners
It's the second time in less than a year that Allstate has raised homeowners rates in Illinois. In July, the company said it was planning to increase rates 2.5% to 9%, effective July 11. But it also hiked the discounts it offers to policyholders up to 5% for taking on options such as paying the premium in full or paying online. Time to shop for new coverage: http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/
When is the best time to take Social Security benefits?
Many people are giving up 25% of their benefits by starting early at age 62. Is this smart?Find out why or why not. What are your options if you have to start early? http://www.aarp.org/work/social-security/social-security-benefits-calculator/
Managed funds see flow to index funds … again
Most popular funds from American and Fidelity lost customers last year. Many went to Vanguard as index funds with low expenses faired better during the market volatilityhttp://www.investmentnews.com/article/20120116/FREE/120119942/-1/INDaily01&dailycount=1&issuedate=20120116
Are you eligible for filing tax for FREE?
People with an adjusted gross income of $57,000 or less are eligible for at least one software product if not more. Each of the Free File software providers sets their own eligibility requirements, usually based on qualifiers such as income, state residency, age or military status. The easiest way to locate a software provider is to use the online “get help” tool at www.irs.gov/freefile. Before you start the Fed tax filing, check the cost of the state filing. Most sites charge for this and it is easy to complete your state filing from the numbers you already entered. Go back to the site the next day to confirm IRS acceptance of the return. Taxpayers can e-file their tax returns one of three ways starting 1/17/12: through a tax return preparer, through self-preparation software or through IRS Free File.
PA health insurance for less
Simply Blue PPO, a new individual insurance plan that offers simple health insurance coverage with a low premium, low deductible and predictable copayment structure. plan, offers preventive care benefits with 100 percent coverage, emergency room coverage and vision benefits. Premiums for Simply Blue are as low as $90 a month with a $500 deductible for males ages 25 to 29. Plan description: "Individuals can feel at ease knowing that they are covered for preventive services to keep them healthy and have the protection against the high cost of unexpected illness or injury." Members buy only what they need: : http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/
Is your car safe and repairable at reasonable cost?
Check your vehicle for relative cost of repairs and medical/injury ratings. The most expensive are not always the safest or cheapest to repair. Some are twice as safe as the averages but cost the same. Members save on their purchase by using the “tricks of the trade”: http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/
SCAMS
Brokerage caught screwing clients on purpose -- cost Citi $54 million
“… the product was defective, management inept, risk controls nonexistent and the effect was ruinous. If one drives their car into another, they are responsible; they have no option but to take responsibility for their actions,” One witness said. Citi tried to cover up the mess when clients complained about the losses.http://www.nytimes.com/2012/01/15/business/in-citigroup-case-a-risk-rating-investors-didnt-see-fair-game.html
Insurers, caught holding death benefits, face little penalty for fraud
Prudential Financial Inc. has settled with Massachusetts and 19 other states, agreeing to improve its practices in identifying beneficiaries who are due unclaimed life insurance death benefits. What kind of accountability is this?
Let me know what you think. Editor@TheInsidersGuides.com
IAN 41 Watchung Plaza, B242 Montclair, NJ 07042 347.746.2014www.InsuranceAdvisorsNetwork.com
Alerts available at http://dankeppel.blogspot.com/
When wealthy contributors can give $ millions to candidates thru PACs and blanket electorates with TV ads non-stop, is it possible to buy an election? Could a foreign government via a puppet give $ billions to a PAC to sway voters to someone favorable to them? The Supreme Court decided thatcorporations are people (?) and their money is free speech. So, is America different than other governments that allow one group to slant the elections? http://www.youtube.com/watch?v=SprsUaX5j78
And why didn’t they count all the votes in 2000 like the Constitution says in Article II Section 1? It is the House not the Supremes that is supposed to make the decision. The founders knew Justices are political appointees not elected representatives. http://www.archives.gov/exhibits/charters/constitution_transcript.html
Romney seems to be the perfect corporate ruler. He bets $10,000 on things we would wager a $1 on. He does not earn a living. He pays a tax rate based on investment income, not earned income. Never got a paycheck. http://www.investmentnews.com/article/20120118/FREE/120119921/-1/INDaily01&dailycount=3&issuedate=20120118’
Newt makes $ millions by influencing Congress by giving “advice” not lobbying, he says. http://www.washingtonpost.com/politics/the-influence-industry-gingrich-case-raises-question-what-is-a-lobbyist/2011/12/07/gIQAtW7ZdO_story.html
Santorum is the largest supporter of Big Government earmarks. http://www.nytimes.com/2012/01/16/us/politics/as-rick-santorum-secured-earmarks-2006-donations-flowed-in.html?pagewanted=all
Obama is out fundraising instead of governing. He is said to be on track to pass the record $750 million this year. http://www.foxnews.com/politics/2012/01/12/obama-fundraising-could-fuel-small-economy/
Many GOP-run states are enacting laws to make it harder for people to vote even though there is no known case of fraud being prosecuted. http://www.miamiherald.com/2012/01/16/2592500/holder-decries-states-efforts.html
MI has gone so far as to eliminate the local governments elected by the citizens of 5 towns. http://news.yahoo.com/marchers-protest-michigan-emergency-managers-governors-home-234600752.html
Is the new Suze Orman debit card right for you?
One critic called the talk show host's card “the cream of the crap,” noting the fee structure and features are comparable to the best prepaid debit cards already on the market. However, he and most other financial experts agree the category is a dog. “You are still paying at least $36 a yearto have access to your own money,” Mr. Ulzheimer said. “And you're doing nothing to help with your credit.” “It might be a conflict because people view her as potentially objective,” he said. Her $63 newsletter promises to tell you where to invest your retirement money. However, Ms Orman is no longer a registered advisor. Members remember her pitch for her $180 credit monitor service! WOW. Better alternatives in our Guide: : http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/
How is your auto insurance company rated by customers?
Check at http://www.insure.com/best-car-insurance-companies/
New Year resolution—Stop leasing your cars
Leasing a vehicle for 36-39 months is waste of money. You could be investing that $10,000 -$12,000 to make sure you have enough later on. Buy a used car that still has good mileage and low maintenance. http://www.kbb.com/car-news/all-the-latest/10-best-used-cars-under-8000-1/
Allstate raises rates, again, in IL for homeowners
It's the second time in less than a year that Allstate has raised homeowners rates in Illinois. In July, the company said it was planning to increase rates 2.5% to 9%, effective July 11. But it also hiked the discounts it offers to policyholders up to 5% for taking on options such as paying the premium in full or paying online. Time to shop for new coverage: http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/
When is the best time to take Social Security benefits?
Many people are giving up 25% of their benefits by starting early at age 62. Is this smart?Find out why or why not. What are your options if you have to start early? http://www.aarp.org/work/social-security/social-security-benefits-calculator/
Managed funds see flow to index funds … again
Most popular funds from American and Fidelity lost customers last year. Many went to Vanguard as index funds with low expenses faired better during the market volatilityhttp://www.investmentnews.com/article/20120116/FREE/120119942/-1/INDaily01&dailycount=1&issuedate=20120116
Are you eligible for filing tax for FREE?
People with an adjusted gross income of $57,000 or less are eligible for at least one software product if not more. Each of the Free File software providers sets their own eligibility requirements, usually based on qualifiers such as income, state residency, age or military status. The easiest way to locate a software provider is to use the online “get help” tool at www.irs.gov/freefile. Before you start the Fed tax filing, check the cost of the state filing. Most sites charge for this and it is easy to complete your state filing from the numbers you already entered. Go back to the site the next day to confirm IRS acceptance of the return. Taxpayers can e-file their tax returns one of three ways starting 1/17/12: through a tax return preparer, through self-preparation software or through IRS Free File.
PA health insurance for less
Simply Blue PPO, a new individual insurance plan that offers simple health insurance coverage with a low premium, low deductible and predictable copayment structure. plan, offers preventive care benefits with 100 percent coverage, emergency room coverage and vision benefits. Premiums for Simply Blue are as low as $90 a month with a $500 deductible for males ages 25 to 29. Plan description: "Individuals can feel at ease knowing that they are covered for preventive services to keep them healthy and have the protection against the high cost of unexpected illness or injury." Members buy only what they need: : http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/
Is your car safe and repairable at reasonable cost?
Check your vehicle for relative cost of repairs and medical/injury ratings. The most expensive are not always the safest or cheapest to repair. Some are twice as safe as the averages but cost the same. Members save on their purchase by using the “tricks of the trade”: http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/
SCAMS
Brokerage caught screwing clients on purpose -- cost Citi $54 million
“… the product was defective, management inept, risk controls nonexistent and the effect was ruinous. If one drives their car into another, they are responsible; they have no option but to take responsibility for their actions,” One witness said. Citi tried to cover up the mess when clients complained about the losses.http://www.nytimes.com/2012/01/15/business/in-citigroup-case-a-risk-rating-investors-didnt-see-fair-game.html
Insurers, caught holding death benefits, face little penalty for fraud
Prudential Financial Inc. has settled with Massachusetts and 19 other states, agreeing to improve its practices in identifying beneficiaries who are due unclaimed life insurance death benefits. What kind of accountability is this?
Let me know what you think. Editor@TheInsidersGuides.com
IAN 41 Watchung Plaza, B242 Montclair, NJ 07042 347.746.2014www.InsuranceAdvisorsNetwork.com
Alerts available at http://dankeppel.blogspot.com/
Friday, January 13, 2012
Larrysaved $774 on auto insurance
Larry spent one hour with twoalternative insurers to find a better rate than he had for two cars—a 2005 and1998. He found out he was paying for services he did not need, like PIP health
insurance. He has adequate health insurance and is covered by the policy if he
and family are injured in a wreck. He went through the charges with his current
carrier to see if he could drop some other items. His ‘98 car doesn’t need
comprehensive/collision. He raised his deductible too. His new carrier gave him
their alum discount. Find out what you could save using our Guides: http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/
Maybethe health care mandate is not such a bad idea
Healthinsurance premiums for California families rose 153% since 2002, more than five times the29% increase in the rate of inflation, according to a new survey released
Wednesday. The CHCFsurvey found that annual premiums were higher in California than nationally forindividual coverage ($5,970 versus $5,429) and family coverage ($15,724 versus
$15,073). 35 states have some authority to approve or reject health insurance
rate increases, while California has none.
Health care mandate was a GOP idea but it is worth a try. http://www.foxnews.com/politics/2010/03/27/republicans-hatched-idea-obamas-health-insurance-mandate/
Some to see lower health care policypremiums drop
TheFeds have determined that Trustmark Life Insurance Co. proposed unreasonable
rate increases in five states _ Alabama, Arizona, Pennsylvania, Virginia, and Wyoming. Trustmark must withdraw hikes and explain why it wants
more. This is part of the new health care law to reduce costs.
Which discount broker was tops forConsumer Report?
Reader score: 93
Customer service: Top
Website usability: Good
USAA is the winner. Beat other brokers in the business. This is a company run
for our armed service members. They have excellent service and low fees. We
can’t buy their AUTO but we can use all the other financial services with
confidence.
Results from online survey of 7,327 ConsumerReports.org subscribers
reporting on their experiences between Oct. 2010 and Oct. 2011. The reader
score represents overall satisfaction with the firm and is not limited to the
factors listed.
Yourbroker may be forced to change its business model
Ifa strict definition of a fiduciary standard of conduct (NO product pushing)
becomes the fate for broker-dealers owned by U.S. life insurance companies, they could be forced tocompletely revamp their sales and distribution business model. The U.S.
Securities and Exchange Commission in January 2011 recommended the standard to
Congress. It would apply to broker-dealers and investment advisers when they
provide investment advice about securities to individual investors. GE just
sold its broker-dealer so it would be free of this rule. GE can now push its
products without running into trouble with the SEC. Bank America has now outlawed Merrill broker accounts of less than$250,000 so they can collect the annual fees not just commissions.
Howdid your advisor do in 2011?
Our clients’ portfolio did not lose valuelast year. Our clients use a low-cost provider so when the market is down theypay little in fees. Fees are the best indicator of performance according to
fund tracker Morningstar.
2011 Return Fund Long-term Return* Longevity
1.97% 500 Index 10.36% since 1976
-1.74% Energy 12.71% since1984
-3.73% Extended Market 9.96% since1987
11.45% Health 16.30% since1984
-13.68% International Growth 10.50% since1981
-1.84% PRIMECAP 12.79% since 1984
-2.80% Small Cap Index 10.26% since1960
9.63% Wellesley Income 10.16% since 1970
-4.00% Windsor 11.00% since 1958
2.70% Windsor II 10.18% since 1985
__________________________________________
0.00% Average 11.42%
*AverageAnnual Returns as of 12/31/11.
Seeamazon.com/Working-Millionaire-Tax-FREE-Self-insure-Self-fund/
IsAllstate’s satisfaction guarantee right for you?
Underthe program, eligible Allstate customers who aren't happy with service they
receive on a paid auto claim can write a complaint to the company within 180
days of the incident. If a policyholder complains, Allstate will credit the
customer's account an amount that's equivalent to a six-month premium on the
car involved in the claim, said Allstate spokesman Kevin Smith. The company
tested the program in 2011 in Indiana, Ohio, Michigan and Georgia on its standard auto policies, and Allstate saw a limitednumber of requests in those states, Smith said. As of Jan. 2, the company madethe program available in 31 states, with more states planned later in the year.
Allstate’scredit is not cash. This is not a big deal. You can complain anytime. Claims
are handled by local adjuster. Working with them is the best way to obtain
fairness. If you are paying too much, you don’t get a refund for all those
years you overpaid. Safe drivers shop for the best price not guarantee of what
might not happen. Accidents are infrequent. Use our Guides: http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/
Weare more likely to need extra income later in life
U.S.life expectancy climbedto a new high in 2010 as fewer people died from heart disease and cancer, andhomicide was no longer among the 15 leading causes of death. Life expectancy
increased to about 78.7 years. Now is the time to plan to have enough for
longer income needs: amazon.com/Your-Retirement-Spending-Plan-enough
Romneyis the only person who could FIRE his health insurance company
Where has this manbeen living? The rest of us could NOT fire our insurer because we did not liketheir refusal to pay for our cancer treatment or whatever. We would then be out
looking for new coverage with a “pre-existing condition” which insurers loath.
Only Romney could afford to self-insure—pay for treatments out of his $250
million pocket. The rest of us would need a health law that guaranteed
coverage with pre-existing condition. That system was what Romney put in place
in Mass and what Obama has to defend against the GOP Supremes this year. We all
need that guarantee because we could not get health care in the present system.
No insurer would sell us a policy for any price. Just ask the 50 million
without coverage.
SCAMS
Why do we havea deficit and high unemployment? Taxes go to foreign governments!
Cutting taxes tocreate jobs is a political gimmick—it does not work.
Taxesof $385 billion went unpaid in 2006, according to new estimates by the IRS. IRS
says biggest cheats are small business and corporations who hide revenue and
add expense. For instance, Exxon employed 50 lobbyists, and spent $12,450,000
to influence lawmakers, according to the Center for Responsive Politics. What
does that buy you?
Little tax AND oil subsidies of $4B.
Exxon,which last year reported a record $45.2 billion profit, paid the most taxes of
any corporation, but noneof it went to the IRS: 20 wholly owned subsidiaries domiciled in the Bahamas, Bermuda and the Cayman Islands that (legally) shelter the cash flow from operations inthe likes of Angola, Azerbaijan and Abu Dhabi. No wonder that of $15 billion in income taxes lastyear, Exxon paid none of it to Uncle Sam, and has tens of billions in earnings
permanently reinvested overseas.
Manycorporations send profits overseas so they don’t pay tax at all.
GEearned $14.2 billion in profits in 2010, but it paid not a penny in taxes
because the bulk of those profits, some $9 billion, were offshore. In fact, GE
got a $3.2 billion tax benefit. GE laidoff 21,000 American workers and closed 20 factories between 2007 and 2009.More than half of GE's workforce is now
outside the United States.
Why are people upset?
55%of US corps paid no tax some years: http://www.gao.gov/new.items/d08957.pdf
GOPdebate statements and the facts: http://news.yahoo.com/fact-checking-hampshire-debate-023952440--abc-news.html
Who owns your account NOW?
MorganKeegan to Raymond James
GenworthFinancial has agreed to sell its broker-dealer unit to Cetera Financial Group
GE want to be free to push its products. Ifa strict definition of a fiduciary standard of conduct becomes the fate forbroker-dealers owned by U.S. life insurance companies, they could be forced tocompletely revamp their sales and distribution business model. The U.S.
Securities and Exchange Commission in January 2011 recommended the standard to
Congress. It would apply to broker-dealers and investment advisers when they
provide investment advice about securities to individual investors.
Starry starry night
On average, each of the 100 billion or sostars in our galaxy hosts at least 1.6 planets, according to the study,bringing the number of likely alien worlds to more than 160 billion. "This is a major milestone on the road to finding Earth's twin,"Douglas Hudgins, Kepler program scientist at NASA headquarters in Washington,D.C., said in a statement.
Letme know what you think. Editor@TheInsidersGuides.com
IAN
41 Watchung
Plaza, B242
Montclair, NJ 07042
347.746.2014
www.InsuranceAdvisorsNetwork.com
Alerts available
at http://dankeppel.blogspot.com/
Larry spent one hour with twoalternative insurers to find a better rate than he had for two cars—a 2005 and1998. He found out he was paying for services he did not need, like PIP health
insurance. He has adequate health insurance and is covered by the policy if he
and family are injured in a wreck. He went through the charges with his current
carrier to see if he could drop some other items. His ‘98 car doesn’t need
comprehensive/collision. He raised his deductible too. His new carrier gave him
their alum discount. Find out what you could save using our Guides: http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/
Maybethe health care mandate is not such a bad idea
Healthinsurance premiums for California families rose 153% since 2002, more than five times the29% increase in the rate of inflation, according to a new survey released
Wednesday. The CHCFsurvey found that annual premiums were higher in California than nationally forindividual coverage ($5,970 versus $5,429) and family coverage ($15,724 versus
$15,073). 35 states have some authority to approve or reject health insurance
rate increases, while California has none.
Health care mandate was a GOP idea but it is worth a try. http://www.foxnews.com/politics/2010/03/27/republicans-hatched-idea-obamas-health-insurance-mandate/
Some to see lower health care policypremiums drop
TheFeds have determined that Trustmark Life Insurance Co. proposed unreasonable
rate increases in five states _ Alabama, Arizona, Pennsylvania, Virginia, and Wyoming. Trustmark must withdraw hikes and explain why it wants
more. This is part of the new health care law to reduce costs.
Which discount broker was tops forConsumer Report?
Reader score: 93
Customer service: Top
Website usability: Good
USAA is the winner. Beat other brokers in the business. This is a company run
for our armed service members. They have excellent service and low fees. We
can’t buy their AUTO but we can use all the other financial services with
confidence.
Results from online survey of 7,327 ConsumerReports.org subscribers
reporting on their experiences between Oct. 2010 and Oct. 2011. The reader
score represents overall satisfaction with the firm and is not limited to the
factors listed.
Yourbroker may be forced to change its business model
Ifa strict definition of a fiduciary standard of conduct (NO product pushing)
becomes the fate for broker-dealers owned by U.S. life insurance companies, they could be forced tocompletely revamp their sales and distribution business model. The U.S.
Securities and Exchange Commission in January 2011 recommended the standard to
Congress. It would apply to broker-dealers and investment advisers when they
provide investment advice about securities to individual investors. GE just
sold its broker-dealer so it would be free of this rule. GE can now push its
products without running into trouble with the SEC. Bank America has now outlawed Merrill broker accounts of less than$250,000 so they can collect the annual fees not just commissions.
Howdid your advisor do in 2011?
Our clients’ portfolio did not lose valuelast year. Our clients use a low-cost provider so when the market is down theypay little in fees. Fees are the best indicator of performance according to
fund tracker Morningstar.
2011 Return Fund Long-term Return* Longevity
1.97% 500 Index 10.36% since 1976
-1.74% Energy 12.71% since1984
-3.73% Extended Market 9.96% since1987
11.45% Health 16.30% since1984
-13.68% International Growth 10.50% since1981
-1.84% PRIMECAP 12.79% since 1984
-2.80% Small Cap Index 10.26% since1960
9.63% Wellesley Income 10.16% since 1970
-4.00% Windsor 11.00% since 1958
2.70% Windsor II 10.18% since 1985
__________________________________________
0.00% Average 11.42%
*AverageAnnual Returns as of 12/31/11.
Seeamazon.com/Working-Millionaire-Tax-FREE-Self-insure-Self-fund/
IsAllstate’s satisfaction guarantee right for you?
Underthe program, eligible Allstate customers who aren't happy with service they
receive on a paid auto claim can write a complaint to the company within 180
days of the incident. If a policyholder complains, Allstate will credit the
customer's account an amount that's equivalent to a six-month premium on the
car involved in the claim, said Allstate spokesman Kevin Smith. The company
tested the program in 2011 in Indiana, Ohio, Michigan and Georgia on its standard auto policies, and Allstate saw a limitednumber of requests in those states, Smith said. As of Jan. 2, the company madethe program available in 31 states, with more states planned later in the year.
Allstate’scredit is not cash. This is not a big deal. You can complain anytime. Claims
are handled by local adjuster. Working with them is the best way to obtain
fairness. If you are paying too much, you don’t get a refund for all those
years you overpaid. Safe drivers shop for the best price not guarantee of what
might not happen. Accidents are infrequent. Use our Guides: http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/
Weare more likely to need extra income later in life
U.S.life expectancy climbedto a new high in 2010 as fewer people died from heart disease and cancer, andhomicide was no longer among the 15 leading causes of death. Life expectancy
increased to about 78.7 years. Now is the time to plan to have enough for
longer income needs: amazon.com/Your-Retirement-Spending-Plan-enough
Romneyis the only person who could FIRE his health insurance company
Where has this manbeen living? The rest of us could NOT fire our insurer because we did not liketheir refusal to pay for our cancer treatment or whatever. We would then be out
looking for new coverage with a “pre-existing condition” which insurers loath.
Only Romney could afford to self-insure—pay for treatments out of his $250
million pocket. The rest of us would need a health law that guaranteed
coverage with pre-existing condition. That system was what Romney put in place
in Mass and what Obama has to defend against the GOP Supremes this year. We all
need that guarantee because we could not get health care in the present system.
No insurer would sell us a policy for any price. Just ask the 50 million
without coverage.
SCAMS
Why do we havea deficit and high unemployment? Taxes go to foreign governments!
Cutting taxes tocreate jobs is a political gimmick—it does not work.
Taxesof $385 billion went unpaid in 2006, according to new estimates by the IRS. IRS
says biggest cheats are small business and corporations who hide revenue and
add expense. For instance, Exxon employed 50 lobbyists, and spent $12,450,000
to influence lawmakers, according to the Center for Responsive Politics. What
does that buy you?
Little tax AND oil subsidies of $4B.
Exxon,which last year reported a record $45.2 billion profit, paid the most taxes of
any corporation, but noneof it went to the IRS: 20 wholly owned subsidiaries domiciled in the Bahamas, Bermuda and the Cayman Islands that (legally) shelter the cash flow from operations inthe likes of Angola, Azerbaijan and Abu Dhabi. No wonder that of $15 billion in income taxes lastyear, Exxon paid none of it to Uncle Sam, and has tens of billions in earnings
permanently reinvested overseas.
Manycorporations send profits overseas so they don’t pay tax at all.
GEearned $14.2 billion in profits in 2010, but it paid not a penny in taxes
because the bulk of those profits, some $9 billion, were offshore. In fact, GE
got a $3.2 billion tax benefit. GE laidoff 21,000 American workers and closed 20 factories between 2007 and 2009.More than half of GE's workforce is now
outside the United States.
Why are people upset?
55%of US corps paid no tax some years: http://www.gao.gov/new.items/d08957.pdf
GOPdebate statements and the facts: http://news.yahoo.com/fact-checking-hampshire-debate-023952440--abc-news.html
Who owns your account NOW?
MorganKeegan to Raymond James
GenworthFinancial has agreed to sell its broker-dealer unit to Cetera Financial Group
GE want to be free to push its products. Ifa strict definition of a fiduciary standard of conduct becomes the fate forbroker-dealers owned by U.S. life insurance companies, they could be forced tocompletely revamp their sales and distribution business model. The U.S.
Securities and Exchange Commission in January 2011 recommended the standard to
Congress. It would apply to broker-dealers and investment advisers when they
provide investment advice about securities to individual investors.
Starry starry night
On average, each of the 100 billion or sostars in our galaxy hosts at least 1.6 planets, according to the study,bringing the number of likely alien worlds to more than 160 billion. "This is a major milestone on the road to finding Earth's twin,"Douglas Hudgins, Kepler program scientist at NASA headquarters in Washington,D.C., said in a statement.
Letme know what you think. Editor@TheInsidersGuides.com
IAN
41 Watchung
Plaza, B242
Montclair, NJ 07042
347.746.2014
www.InsuranceAdvisorsNetwork.com
Alerts available
at http://dankeppel.blogspot.com/
Friday, January 6, 2012
Save $3,000 every year
How can I save $3,000 a year on financials?
Dennis H., Valley Stream, NY asked this question. He hasn’t had a raise for two years and everything has gone up. He says he has cut out all his ‘wild’ spending. I told him the best places to look are his mutual funds and his insurance. I suggested he find out what he could save by increasing his deductibles and cutting extras from his policies. He said he found he saved $660 by raising his deductibles and another $60 a year on extras like towing and a death benefit in his policy. He was paying $1660 a year for a universal life policy. He decided he doesn’t need it anymore. He is divorced and his kids are grown. He transferred the cash value to bond fund for emergencies. He asked for more suggestions, so I recommended he read our Guides: http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/
President says he won’t hold citizens in Guantanamo but he could if he wanted to!?!
Congress has passed the National Defense Appropriations Act, with Amendment 1031, http://thomas.loc.gov/cgi-bin/bdquery/z?d112:SN01867:@@@D&summ2=m&
which allows for the military detention of American citizens. The amendment is so loosely worded that any American citizen could be held without due process.
We can be locked away by soldiers without trial!
"By signing this defense spending bill, President Obama will go down in history as the president who enshrined indefinite detention without trial in U.S. law," said Kenneth Roth, executive director of Human Rights Watch. "In the past, Obama has lauded the importance of being on the right side of history, but today he is definitely on the wrong side."
Hard to believe that we have become what we hate. Only six Senators voted against. http://www.thedailyshow.com/watch/wed-december-7-2011/arrested-development
Do you need a lobbyist?Each of our representatives in Congress has 41 lobbyists EACH, . . . officially. They are the government influencers. We may need one soon. Here is a list of the ones who register.
List of 22,000+ lobbyists and government relations professionals who directly influence government policies and legislation. http://www.lobbyists.info/ProductDetail/the-3-0-31/Lobbyist_Mailing_Lists
E-file taxes for quicker refunds
The IRS issues refunds to 98 percent of electronic filers by direct deposit within 14 days. You may use Free File software if your AGI income is under $57,000. Starts mid Jan. Due April 17 but don’t wait. http://www.irs.gov/efile/article/0,,id=118986,00.html
File tax form just to get money back if …
Your employer withheld federal income tax from your pay, you worked but earned little and get Earned Income Credit, have child and get child tax credit, are student and get opportunity credit, adopted kid and get adoption credit and you paid for health insurance under certain conditions and get the health coverage credit. See http://www.irs.gov/ita/
for interactive bot to answer your questions without having to wait on phone. Check on your refund at https://sa2.www4.irs.gov/irfof/lang/en/irfofgetstatus.jsp
BEWARE: Annuity sellers are pitching hard
Sellers know that you would like to have guaranteed growth on your money without paying taxes, guaranteed income for the rest of your life and a guaranteed death benefit.
Annuities look like they are safer than gold, real estate and the stock market. Parking money somewhere safe with better interest rates than a bank is appealing. Some sellers are linking the annuity to life insurance premiums later in life so that you can leave a tax free legacy to the kids. It also doubles their commissions.
ACTUAL situation is more complicated. First, you’re going to pay a lot for those guarantees. Costs may wipe out the advertised rates of gain. Second, you or your beneficiary will pay taxes later when the annuity is used or passed. Third, you can buy guaranteed income for life at much cheaper rates when you need it. Other alternatives offer tax-FREE death benefits to your heirs without the fees and commissions. All investments have risks so gold, real estate and stocks are taken in moderation and balance. See alternative solutions before you buy: amazon.com/Not-Buy-That-Annuity-
Breath easier
One in eight people earning at least $1 million annually was audited by the Internal Revenue Service last year, making them far likelier to be examined than those making below $200,000, according to IRS data released Thursday. Just 1 in 100 individuals earning less than $200,000 had their income tax returns examined, the IRS said.
If you are audited, don’t volunteer old tax returns or any data not specific to the audit. The IRS takes weeks to find your old return so they only have the summary figures from some lines on the 1040. Say little and ask for any additional requests in writing. Stall. IRS agents get paid on volume.
Romney tax plan gives rich extra 15% discount
On average, households making less than $20,000 would see their taxes increase by more than 60 percent, said the Tax Policy Center, a Washington research group that studied the Romney plan. Households making between $50,000 and $75,000 would get small tax cuts, averaging 2.2 percent, or about $250, the study said. People making more than $1 million would get tax cuts averaging 15 percent, or about $146,000. Romney's plan would reduce tax revenues by $180 billion in 2015, adding to the federal budget deficit, the study said. Romney's plan would cut the top corporate tax rate. Most pay $0 now—many get refund of $millions. Romney says rich would create jobs even though they haven’t with the Bush tax cuts.
SCAMS
Alternative investments are risky
Waco- based Life Partners Holdings and three of its top executives were accused Tuesday by the Securities and Exchange Commission of "systematically and materially" misleading investors about the life expectancy of people whose life insurance policies it traded.
Let me know what you think. Editor@TheInsidersGuides.com
IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
347.746.2014
www.InsuranceAdvisorsNetwork.com
Alerts available at http://dankeppel.blogspot.com/
Dennis H., Valley Stream, NY asked this question. He hasn’t had a raise for two years and everything has gone up. He says he has cut out all his ‘wild’ spending. I told him the best places to look are his mutual funds and his insurance. I suggested he find out what he could save by increasing his deductibles and cutting extras from his policies. He said he found he saved $660 by raising his deductibles and another $60 a year on extras like towing and a death benefit in his policy. He was paying $1660 a year for a universal life policy. He decided he doesn’t need it anymore. He is divorced and his kids are grown. He transferred the cash value to bond fund for emergencies. He asked for more suggestions, so I recommended he read our Guides: http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/
President says he won’t hold citizens in Guantanamo but he could if he wanted to!?!
Congress has passed the National Defense Appropriations Act, with Amendment 1031, http://thomas.loc.gov/cgi-bin/bdquery/z?d112:SN01867:@@@D&summ2=m&
which allows for the military detention of American citizens. The amendment is so loosely worded that any American citizen could be held without due process.
We can be locked away by soldiers without trial!
"By signing this defense spending bill, President Obama will go down in history as the president who enshrined indefinite detention without trial in U.S. law," said Kenneth Roth, executive director of Human Rights Watch. "In the past, Obama has lauded the importance of being on the right side of history, but today he is definitely on the wrong side."
Hard to believe that we have become what we hate. Only six Senators voted against. http://www.thedailyshow.com/watch/wed-december-7-2011/arrested-development
Do you need a lobbyist?Each of our representatives in Congress has 41 lobbyists EACH, . . . officially. They are the government influencers. We may need one soon. Here is a list of the ones who register.
List of 22,000+ lobbyists and government relations professionals who directly influence government policies and legislation. http://www.lobbyists.info/ProductDetail/the-3-0-31/Lobbyist_Mailing_Lists
E-file taxes for quicker refunds
The IRS issues refunds to 98 percent of electronic filers by direct deposit within 14 days. You may use Free File software if your AGI income is under $57,000. Starts mid Jan. Due April 17 but don’t wait. http://www.irs.gov/efile/article/0,,id=118986,00.html
File tax form just to get money back if …
Your employer withheld federal income tax from your pay, you worked but earned little and get Earned Income Credit, have child and get child tax credit, are student and get opportunity credit, adopted kid and get adoption credit and you paid for health insurance under certain conditions and get the health coverage credit. See http://www.irs.gov/ita/
for interactive bot to answer your questions without having to wait on phone. Check on your refund at https://sa2.www4.irs.gov/irfof/lang/en/irfofgetstatus.jsp
BEWARE: Annuity sellers are pitching hard
Sellers know that you would like to have guaranteed growth on your money without paying taxes, guaranteed income for the rest of your life and a guaranteed death benefit.
Annuities look like they are safer than gold, real estate and the stock market. Parking money somewhere safe with better interest rates than a bank is appealing. Some sellers are linking the annuity to life insurance premiums later in life so that you can leave a tax free legacy to the kids. It also doubles their commissions.
ACTUAL situation is more complicated. First, you’re going to pay a lot for those guarantees. Costs may wipe out the advertised rates of gain. Second, you or your beneficiary will pay taxes later when the annuity is used or passed. Third, you can buy guaranteed income for life at much cheaper rates when you need it. Other alternatives offer tax-FREE death benefits to your heirs without the fees and commissions. All investments have risks so gold, real estate and stocks are taken in moderation and balance. See alternative solutions before you buy: amazon.com/Not-Buy-That-Annuity-
Breath easier
One in eight people earning at least $1 million annually was audited by the Internal Revenue Service last year, making them far likelier to be examined than those making below $200,000, according to IRS data released Thursday. Just 1 in 100 individuals earning less than $200,000 had their income tax returns examined, the IRS said.
If you are audited, don’t volunteer old tax returns or any data not specific to the audit. The IRS takes weeks to find your old return so they only have the summary figures from some lines on the 1040. Say little and ask for any additional requests in writing. Stall. IRS agents get paid on volume.
Romney tax plan gives rich extra 15% discount
On average, households making less than $20,000 would see their taxes increase by more than 60 percent, said the Tax Policy Center, a Washington research group that studied the Romney plan. Households making between $50,000 and $75,000 would get small tax cuts, averaging 2.2 percent, or about $250, the study said. People making more than $1 million would get tax cuts averaging 15 percent, or about $146,000. Romney's plan would reduce tax revenues by $180 billion in 2015, adding to the federal budget deficit, the study said. Romney's plan would cut the top corporate tax rate. Most pay $0 now—many get refund of $millions. Romney says rich would create jobs even though they haven’t with the Bush tax cuts.
SCAMS
Alternative investments are risky
Waco- based Life Partners Holdings and three of its top executives were accused Tuesday by the Securities and Exchange Commission of "systematically and materially" misleading investors about the life expectancy of people whose life insurance policies it traded.
Let me know what you think. Editor@TheInsidersGuides.com
IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
347.746.2014
www.InsuranceAdvisorsNetwork.com
Alerts available at http://dankeppel.blogspot.com/
Friday, December 30, 2011
New Year new chance
New year goals—Create a tax-FREE Wealth Reserve
Pensions, 401k and paid health care benefits are decreasing
We are living longer, need income for more years
Health care costs continue to increase
Savings/investment yields may be lower
Annuities and pensions are taxed at higher income tax rates
Social Security and Medicare under attack by GOP
Volatile market requires global diversification
Fees and commissions can take 40% of earnings
Long-term care needs are unpredictable
Grandchildren need financial assistance to make it
Tax-FREE Wealth Reserve is lifestyle insurance:
amazon.com/Forget-Social-Security-Medicare-Lifestyle/
Mentally ill flood ER as states cut services
Just as GOP candidate Ron Paul suggested, if people don’t have insurance, too bad. They should have thought of that before they got sick, he said. Personal responsibility is the theme of Tea Party. In the debates, Paul suggested that the charity hospitals used to treat the indigent. We all have to pick up the cost unless the 1% want to make contributions and get their names on the hospital wings. Last time I went to hospital, a local robber baron had his name-plaque on the wall of a tiny exam room in the nurses triage station. http://news.yahoo.com/mentally-ill-flood-er-states-cut-services-131133880.html
Tax savings
Business mileage went to 55.5 cents/mile after July 1, 2011 up from 51 cents before June 30. Exemption rose to $3,700 each. Roth IRA conversions allow 2 years to pay tax on the gains—2011 and 2012. Only armed forces can claim 1st time home buyer credit. Health coverage tax credit extended. Making work pay credit expired. Efile for faster refunds. Average refund last year: $3,036.
Use your refund to fund your Wealth Reserve, it may be worth $300,000 by the time you retire in a tax-FREE account. Wealth: at Amazon.
Congress to cut Medicare doctor pay—time to shop for another doc?
According to a 2010 survey by the AMA, about one in five physicians overall, and nearly one-third of primary care physicians say they are already being forced to limit the number of Medicare patients in their practice due to the ongoing threat of cuts and inadequate Medicare rates.
Sandusky’s insurer won’t pay his legal bills for rape charges
Pennsylvania courts have found insurers shouldn't be expected to provide coverage for someone who has been found to have sexually abused a minor.
OH Gov signs law that violates OH own constitution
Ohio Governor John Kasich on Wednesday signed a law that would prohibit abortion coverage from the state insurance exchange Ohio must create under the federal health care law. The law bans Ohio citizens from being able to purchase insurance through the exchange that includes abortion coverage, even if they pay for it with their own money, said Kellie Copeland, executive director of NARAL Pro-Choice Ohio, who criticized the bill. "It is appalling that Governor Kasich signed this bill, which clearly violates the Ohio Constitution, into law," said Copeland.
SCAMS
GOP future looks grim—Candidates want to:
Reduce Social Security and Medicare benefits
Continue global warming
End EPA protection of water, air, chemical spills, oil spills
Reduce voting access for minorities, union rights
Control our choice of having birth control
End regulation of bad food, bad marketing, bad financial products
Increase business freedom to sway elections with money
Bomb Iran and other countries
Continue drop of middle income in favor of wealthy
Let people die if they can't afford health care
Who Owns Your Account Now?
MetLife bank to GE
Let me know what you think. Editor@TheInsidersGuides.com
IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
347.746.2014
www.InsuranceAdvisorsNetwork.com
Alerts available at http://dankeppel.blogspot.com/
Pensions, 401k and paid health care benefits are decreasing
We are living longer, need income for more years
Health care costs continue to increase
Savings/investment yields may be lower
Annuities and pensions are taxed at higher income tax rates
Social Security and Medicare under attack by GOP
Volatile market requires global diversification
Fees and commissions can take 40% of earnings
Long-term care needs are unpredictable
Grandchildren need financial assistance to make it
Tax-FREE Wealth Reserve is lifestyle insurance:
amazon.com/Forget-Social-Security-Medicare-Lifestyle/
Mentally ill flood ER as states cut services
Just as GOP candidate Ron Paul suggested, if people don’t have insurance, too bad. They should have thought of that before they got sick, he said. Personal responsibility is the theme of Tea Party. In the debates, Paul suggested that the charity hospitals used to treat the indigent. We all have to pick up the cost unless the 1% want to make contributions and get their names on the hospital wings. Last time I went to hospital, a local robber baron had his name-plaque on the wall of a tiny exam room in the nurses triage station. http://news.yahoo.com/mentally-ill-flood-er-states-cut-services-131133880.html
Tax savings
Business mileage went to 55.5 cents/mile after July 1, 2011 up from 51 cents before June 30. Exemption rose to $3,700 each. Roth IRA conversions allow 2 years to pay tax on the gains—2011 and 2012. Only armed forces can claim 1st time home buyer credit. Health coverage tax credit extended. Making work pay credit expired. Efile for faster refunds. Average refund last year: $3,036.
Use your refund to fund your Wealth Reserve, it may be worth $300,000 by the time you retire in a tax-FREE account. Wealth: at Amazon.
Congress to cut Medicare doctor pay—time to shop for another doc?
According to a 2010 survey by the AMA, about one in five physicians overall, and nearly one-third of primary care physicians say they are already being forced to limit the number of Medicare patients in their practice due to the ongoing threat of cuts and inadequate Medicare rates.
Sandusky’s insurer won’t pay his legal bills for rape charges
Pennsylvania courts have found insurers shouldn't be expected to provide coverage for someone who has been found to have sexually abused a minor.
OH Gov signs law that violates OH own constitution
Ohio Governor John Kasich on Wednesday signed a law that would prohibit abortion coverage from the state insurance exchange Ohio must create under the federal health care law. The law bans Ohio citizens from being able to purchase insurance through the exchange that includes abortion coverage, even if they pay for it with their own money, said Kellie Copeland, executive director of NARAL Pro-Choice Ohio, who criticized the bill. "It is appalling that Governor Kasich signed this bill, which clearly violates the Ohio Constitution, into law," said Copeland.
SCAMS
GOP future looks grim—Candidates want to:
Reduce Social Security and Medicare benefits
Continue global warming
End EPA protection of water, air, chemical spills, oil spills
Reduce voting access for minorities, union rights
Control our choice of having birth control
End regulation of bad food, bad marketing, bad financial products
Increase business freedom to sway elections with money
Bomb Iran and other countries
Continue drop of middle income in favor of wealthy
Let people die if they can't afford health care
Who Owns Your Account Now?
MetLife bank to GE
Let me know what you think. Editor@TheInsidersGuides.com
IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
347.746.2014
www.InsuranceAdvisorsNetwork.com
Alerts available at http://dankeppel.blogspot.com/
Friday, December 23, 2011
Give your teen a financial chance
Great gift idea for your young person
In a few short chapters your favorite teen can gain insight to the world of money. No school has this course YET. All their contributions (with your help) go toward their future financial foundation. They will have enough for their needs without TAXES, FEES, and COMMISSIONS. Set up the account in 1 hour online and manage it only once a year. “So simple yet so powerful a strategy, anyone can.” ABCs of Building Wealth
amazon.com/ABCs-Building-Wealth-guide-accumulating/
Small business helped by Obama-inspired health insurance exchanges
A vast majority of New York State's small business owners are giving two thumbs up to health insurance exchanges as a viable way to provide health insurance to their employees, according to a statewide survey commissioned by HealthPass New York, a NYC-based commercial health insurance exchange. The survey also found that exchanges have the potential to change the health care marketplace in New York at a time when many small business owners are struggling to keep afloat. The federal Affordable Care Act of 2010 requires states to create their own exchanges to give small businesses access to affordable health care coverage or be included in a federal exchange. "We believe that health insurance exchanges have the potential to stimulate economic development throughout New York State,” one observer said.
Would you send your son/daughter to a place where rape covered up for years?
Paterno said he did not inform police and waited at least a day to inform his boss, athletic director Tim Curley, because he "didn't want to interfere with their weekends."
McQueary testifying that he personally saw Sandusky with his arms wrapped around a boy's waist in a shower, and believed (although he was not 100 percent certain) that the boy was being sodomized. He immediately called his father, and they decided he should go to Paterno the next day.
The AG's office wrote that "there is no indication that anyone from the university ever attempted to learn the identity of the child who was sexually assaulted on their campus or made any follow-up effort to obtain more information," and "there was no effective change in Sandusky's status with the school and no limits on his access to the campus."
The allegations subsequently came across as "not that serious" to Curley, and that it seemed to amount to a case of "he said, she said." Who is the she here?
Sandusky had been implicated as a possible sex offender as early as 1998, when university police were involved in an investigation following "allegations of sexually inappropriate behavior involving Sandusky and young boys in the football showers."
Where are the adults here?
Advisors pushing annuities—commission up to 17% BEWARE
More and more financial advisers are recommending stock market-linked variable annuities as part of retirement planning but one of advisers' biggest objections remains the cost of these retirement savings and income products. Bank sales up 11%! Guarantees sound attractive but small print can kill. Read our Guide FIRST: amazon.com/Not-Buy-That-Annuity-Guaranteed/
TX homeowners may not get refunds after all
State Farm Lloyds, the largest writer, has asked a Texas appeals court to reconsider an order requiring the company to refund about $350 million to consumers in the Lone Star State. Regulators had ordered the refunds because of overcharging from 2003-8. Earlier this month, State Farm Lloyds was allowed to raise deductibles for homeowners' policies in the state to 1% of the insured homes value. State Insurance Commissioner Eleanor Kitzman also approved a request by the company to raise homeowners' rates by an average of 10%.
WA drivers get refund
Geico has been ordered to refund $7.5 million by the end of the year after overcharging its Washington state customers. Geico claims it was caused by a computer glitch. Drivers will receive $300 on average.
Retirees don’t agree on working longer so plans get sidetracked
Almost half of couples — 47 percent — nearing retirement don’t agree on whether or not they’ll keep working, according to a new study.
MI health insurance buyers get rebate for overcharges
An estimated 340,000 Michigan consumers who buy their own health insurance could get as much as $89 million in rebates over the next three years following a ruling Monday by federal health regulators that turned down the state's request to be exempted from new health reform requirements.
Starting in January, insurance companies selling individual plans must spend at least 80 cents of every dollar collected from monthly premiums on medical care and no more than 20 cents on salaries and administrative costs. "Today's decision is a significant defeat for the insurance lobby and one that will allow our state's consumers to rightfully keep... their hard-earned money," said Don Hazaert, director of Michigan Consumers for Healthcare.
Do not be tricked by Wall Street ad men—Hot mutual funds deliver profit to manager NOT to investors
Most objective studies of investing style prove that chasing the hottest mutual fund over and over is a loser’s game. Note the record of top stock picker, Bill Miller at Legg Mason. Miller beat the market from 1991 to 2005 on paper. However, when real investor returns are analyzed, they earned less than a market index. Today’s winner is tomorrow’s loser. Buying and selling does not beat buy and hold over the long term. Bill Miller will retire with a TON of money—1.77% of $2.7B=$47,700,000 in just the last year—but his clents earned just 7.96%. Vanguard’s 500 Index earned 11.41%. http://finance.fortune.cnn.com/2011/12/07/bill-miller-legg-mason-returns/
Smart investors don’t fall for Wall Street’s sucker bet. amazon.com/Wealth-Without-Wall-Street-Commissions/
Small business write-off 35% of worker health care costs!
If you are a small employer who pays at least half of your employee health insurance premiums, you may qualify for a tax credit of up to 35 percent of the premiums paid. An employer with fewer than 25 full-time employees who pays an average wage of less than $50,000 a year may qualify. For more information see the Small Business Health Care Tax Credit page on IRS.gov.
For more 2011 tax credits, see Publication 17 online: http://www.irs.gov/pub/irs-pdf/p17.pdf
A.M. Best Downgrades Ratings of Alfa Insurance Group and Alfa Life Insurance
SCAMS
Washington Mutual CEO wrecked the bank and got paid well. NO ACCOUNTABILITY
Largest bank failure and the officers don’t even have to pay the fine! The bank they destroyed paid for the insurance policy that paid the Feds. Actually all of us pay since insurers only raise rates to make up what they paid out. The fines are a pittance when set against the $88 million in compensation that CEO Killinger received from the bank from 2001 to 2007. Regulators will probably not prosecute the execs because they don’t have the b___s for it. Just like Countrywide and IndyMac.
LESSON: Execs are free to steal in America today.
Our “representatives” give away $ Billions to each other and friends every year. In fact, Senator Coburn (R-OK) has issued a new report, Wastebook, about giving money to China, Chimp feces study, and that “bridge to nowhere” they continue to fund. http://www.coburn.senate.gov/public/index.cfm?a=Files.Serve&File_id=b69a6ebd-7ebe-41b7-bb03-c25a5e194365
Welfare for millionaires is explaned in this study:
http://www.coburn.senate.gov/public/index.cfm/pressreleases?ContentRecord_id=f50198ef-6e15-4847-ab95-1b2bb57278c4
We now have over 150,000 mercenaries/contractors in Iraq and Afghanistan. http://www.fas.org/sgp/crs/natsec/R40764.pdf
No wonder the deficit grows every day and we can’t stop it.
Feds sue Fannie and Freddie execs—and there’s NO chance they will go to jail!
Six former top executives at Fannie Mae and Freddie Mac were sued by U.S. regulators on charges of misleading investors about the mortgage finance companies' exposure to risky home loans in the run-up to the 2008 financial crisis. Of course, we pay for the executives legal bills even though they cleaned out the bank on leaving—$10.6 million to Mudd and $18.3 million to Syron. Plus they paid Newt $1.6 million to help Congress “turn the other way.”
Let me know what you think. Editor@TheInsidersGuides.com
IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
347.746.2014
www.InsuranceAdvisorsNetwork.com
Alerts available at http://dankeppel.blogspot.com/
In a few short chapters your favorite teen can gain insight to the world of money. No school has this course YET. All their contributions (with your help) go toward their future financial foundation. They will have enough for their needs without TAXES, FEES, and COMMISSIONS. Set up the account in 1 hour online and manage it only once a year. “So simple yet so powerful a strategy, anyone can.” ABCs of Building Wealth
amazon.com/ABCs-Building-Wealth-guide-accumulating/
Small business helped by Obama-inspired health insurance exchanges
A vast majority of New York State's small business owners are giving two thumbs up to health insurance exchanges as a viable way to provide health insurance to their employees, according to a statewide survey commissioned by HealthPass New York, a NYC-based commercial health insurance exchange. The survey also found that exchanges have the potential to change the health care marketplace in New York at a time when many small business owners are struggling to keep afloat. The federal Affordable Care Act of 2010 requires states to create their own exchanges to give small businesses access to affordable health care coverage or be included in a federal exchange. "We believe that health insurance exchanges have the potential to stimulate economic development throughout New York State,” one observer said.
Would you send your son/daughter to a place where rape covered up for years?
Paterno said he did not inform police and waited at least a day to inform his boss, athletic director Tim Curley, because he "didn't want to interfere with their weekends."
McQueary testifying that he personally saw Sandusky with his arms wrapped around a boy's waist in a shower, and believed (although he was not 100 percent certain) that the boy was being sodomized. He immediately called his father, and they decided he should go to Paterno the next day.
The AG's office wrote that "there is no indication that anyone from the university ever attempted to learn the identity of the child who was sexually assaulted on their campus or made any follow-up effort to obtain more information," and "there was no effective change in Sandusky's status with the school and no limits on his access to the campus."
The allegations subsequently came across as "not that serious" to Curley, and that it seemed to amount to a case of "he said, she said." Who is the she here?
Sandusky had been implicated as a possible sex offender as early as 1998, when university police were involved in an investigation following "allegations of sexually inappropriate behavior involving Sandusky and young boys in the football showers."
Where are the adults here?
Advisors pushing annuities—commission up to 17% BEWARE
More and more financial advisers are recommending stock market-linked variable annuities as part of retirement planning but one of advisers' biggest objections remains the cost of these retirement savings and income products. Bank sales up 11%! Guarantees sound attractive but small print can kill. Read our Guide FIRST: amazon.com/Not-Buy-That-Annuity-Guaranteed/
TX homeowners may not get refunds after all
State Farm Lloyds, the largest writer, has asked a Texas appeals court to reconsider an order requiring the company to refund about $350 million to consumers in the Lone Star State. Regulators had ordered the refunds because of overcharging from 2003-8. Earlier this month, State Farm Lloyds was allowed to raise deductibles for homeowners' policies in the state to 1% of the insured homes value. State Insurance Commissioner Eleanor Kitzman also approved a request by the company to raise homeowners' rates by an average of 10%.
WA drivers get refund
Geico has been ordered to refund $7.5 million by the end of the year after overcharging its Washington state customers. Geico claims it was caused by a computer glitch. Drivers will receive $300 on average.
Retirees don’t agree on working longer so plans get sidetracked
Almost half of couples — 47 percent — nearing retirement don’t agree on whether or not they’ll keep working, according to a new study.
MI health insurance buyers get rebate for overcharges
An estimated 340,000 Michigan consumers who buy their own health insurance could get as much as $89 million in rebates over the next three years following a ruling Monday by federal health regulators that turned down the state's request to be exempted from new health reform requirements.
Starting in January, insurance companies selling individual plans must spend at least 80 cents of every dollar collected from monthly premiums on medical care and no more than 20 cents on salaries and administrative costs. "Today's decision is a significant defeat for the insurance lobby and one that will allow our state's consumers to rightfully keep... their hard-earned money," said Don Hazaert, director of Michigan Consumers for Healthcare.
Do not be tricked by Wall Street ad men—Hot mutual funds deliver profit to manager NOT to investors
Most objective studies of investing style prove that chasing the hottest mutual fund over and over is a loser’s game. Note the record of top stock picker, Bill Miller at Legg Mason. Miller beat the market from 1991 to 2005 on paper. However, when real investor returns are analyzed, they earned less than a market index. Today’s winner is tomorrow’s loser. Buying and selling does not beat buy and hold over the long term. Bill Miller will retire with a TON of money—1.77% of $2.7B=$47,700,000 in just the last year—but his clents earned just 7.96%. Vanguard’s 500 Index earned 11.41%. http://finance.fortune.cnn.com/2011/12/07/bill-miller-legg-mason-returns/
Smart investors don’t fall for Wall Street’s sucker bet. amazon.com/Wealth-Without-Wall-Street-Commissions/
Small business write-off 35% of worker health care costs!
If you are a small employer who pays at least half of your employee health insurance premiums, you may qualify for a tax credit of up to 35 percent of the premiums paid. An employer with fewer than 25 full-time employees who pays an average wage of less than $50,000 a year may qualify. For more information see the Small Business Health Care Tax Credit page on IRS.gov.
For more 2011 tax credits, see Publication 17 online: http://www.irs.gov/pub/irs-pdf/p17.pdf
A.M. Best Downgrades Ratings of Alfa Insurance Group and Alfa Life Insurance
SCAMS
Washington Mutual CEO wrecked the bank and got paid well. NO ACCOUNTABILITY
Largest bank failure and the officers don’t even have to pay the fine! The bank they destroyed paid for the insurance policy that paid the Feds. Actually all of us pay since insurers only raise rates to make up what they paid out. The fines are a pittance when set against the $88 million in compensation that CEO Killinger received from the bank from 2001 to 2007. Regulators will probably not prosecute the execs because they don’t have the b___s for it. Just like Countrywide and IndyMac.
LESSON: Execs are free to steal in America today.
Our “representatives” give away $ Billions to each other and friends every year. In fact, Senator Coburn (R-OK) has issued a new report, Wastebook, about giving money to China, Chimp feces study, and that “bridge to nowhere” they continue to fund. http://www.coburn.senate.gov/public/index.cfm?a=Files.Serve&File_id=b69a6ebd-7ebe-41b7-bb03-c25a5e194365
Welfare for millionaires is explaned in this study:
http://www.coburn.senate.gov/public/index.cfm/pressreleases?ContentRecord_id=f50198ef-6e15-4847-ab95-1b2bb57278c4
We now have over 150,000 mercenaries/contractors in Iraq and Afghanistan. http://www.fas.org/sgp/crs/natsec/R40764.pdf
No wonder the deficit grows every day and we can’t stop it.
Feds sue Fannie and Freddie execs—and there’s NO chance they will go to jail!
Six former top executives at Fannie Mae and Freddie Mac were sued by U.S. regulators on charges of misleading investors about the mortgage finance companies' exposure to risky home loans in the run-up to the 2008 financial crisis. Of course, we pay for the executives legal bills even though they cleaned out the bank on leaving—$10.6 million to Mudd and $18.3 million to Syron. Plus they paid Newt $1.6 million to help Congress “turn the other way.”
Let me know what you think. Editor@TheInsidersGuides.com
IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
347.746.2014
www.InsuranceAdvisorsNetwork.com
Alerts available at http://dankeppel.blogspot.com/
Friday, November 11, 2011
saving $1560 on insurance
Sam saves $1560 on car, home and excess liability insurance
Sam of NY used our new Guide to save big on his insurance premium this year. He took an hour one day when he received his auto renewal to check other insurer’s rates. He was able to increase his deductibles and drop some of the duplicate coverage he was paying for in order to save on all three policies. He found that his bundled policies with one company did not save him as much as purchasing the coverage separeately. When he shopped he found that the rates were significantly lower than the coverage he had. He figured he had been losing $1560 for the last 12 year because that was when he last priced his car insurance. The home insurance carrier gave him a discount for his home since he had never made a claim. The insurers keep a record of all home claims. Sam used his savings to pay off a credit card. Sam was happy.
amazon.com/Industry-Insiders-Guides-Buying-Insurance
Women Much More Concerned Than Men with Keeping Up With Monthly Expenses MassMutual Survey says. Both men and women are concerned about saving enough for retirement – but for women, just keeping up with monthly expenses is an even bigger concern. The economy remains the big concern. Women are more likely to keep an eye on spending and finding bargains. Women are also better investors but they have less income than men. Members use our Guide for Women to Ensure Their Financial Health: amazon.com/Ensure-Your-Financial-Health-Wealth/
NY Gov orders refunds on health insurance overcharges.
11 insurance companies have been ordered to refund $114.5 million to holders of policies that cover 573,748 people who were overcharged for health insurance premiums in 2010. The refunds were overcharges on the premiums insurers are allowed to keep after claims are paid--MLR. Most of the refunds will go to members of large groups—employer-provided insurance. All major insurers were involved. For list of insurers, see Governor Andrew M. Cuomo’s website: http://www.governor.ny.gov/press/110911health
GOP lowering’ death’ tax in some states
If you live in some states, you need to make provision for estate and inheritance taxes. Or you can change legal residence and pay nothing. Since some tax is due on assets as low as $675,000, owning an average value home may trip the tax buzzer. In some states, GOP lawmakers have raised the threshold so more citizens pass free of tax. In most states, how you own assets can make a difference. In other states, you may not have to worry at all—the wealthy have already fixed NO death tax and NO inheritance tax. The federal exemption is $5 million but states are changing theirs. Check your state. We help you plan your retirement so that there is enough fulfill your wishes: amazon.com/Your-Retirement-Spending-Plan-enough/
Obama and GOP agree—raise taxes slowly by reducing CPI increases
Congress is looking at reducing future raises by adopting a new measure of inflation that also would increase taxes for most families -- the biggest impact falling on those with low incomes. If adopted across the government, the inflation measure would have widespread ramifications. Future increases in veterans' benefits and pensions for federal workers and military personnel would be smaller. And over time, fewer people would qualify for Medicaid, Head Start, food stamps, school lunch programs and home heating assistance than under the current measure.
Taxes would go up by $60 billion over the next decade because annual adjustments to the tax brackets would be smaller, resulting in more people jumping into higher tax brackets because their wages rose faster than the new inflation measure. Annual increases in the standard deduction and personal exemptions would become smaller.
Washington assumes that we are stupid and will not notice this change to Chained Consumer Price Index: http://finance.yahoo.com/news/New-formula-would-reduce-apf-365864943.html?x=0
Time will tell if Cain sex beats Chained CPI on our media coverage.
ObamaCare’s mandate upheld by district court
A panel of the U.S. Court of Appeals for the District of Columbia issued a split opinion upholding the lower court's ruling that found Congress did not overstep its authority in requiring people to have insurance or pay a penalty on their taxes, beginning in 2014. The requirement is the most controversial requirement of Obama's signature domestic legislative achievement and the focus of conflicting opinions from judges across the country. The Supreme Court could decide as early as Thursday during a closed meeting of the justices whether to accept appeals from some of those earlier rulings. Our future health care lies in the hands of 5 guys who have fully paid policies. http://usconservatives.about.com/od/capitalpunishment/tp/Top_Conservative_Justices.htm
SCAMS
Romney plan to change your benefits
The former Massachusetts governor said he would lower the cost of Social Security by raising the eligibility age for benefits, but he did not specify how quickly those changes would be phased in. He estimated that he could achieve tens of billions of dollars in savings by capping the cost of Medicaid, the federal program that provides medical care to the poor, and allowing the states to take it over — a move his campaign said would "empower them to innovate."
In one of the most controversial elements of his plan, Romney proposed a major restructuring of Medicare, which currently provides health insurance to about 47 million elderly and disabled people. Under the changes, Medicare would become just one of many plans that seniors could purchase with a new "premium support" system that would give them a set amount of money each year to purchase a plan.
Aides said the plans would have to offer a level of coverage comparable to the benefits offered under the current Medicare system. They asserted that by encouraging a range of private insurers to compete with Medicare, which could begin running a deficit as early as 2024, the program's costs could be lowered.
GOP plan: less SS benefits from your contributions, kick the poor off Medicaid, and give you a voucher to buy your own old age insurance, if you can find an insurer when you are old and sick. We will need a lot of luck!
We, Taxpayers are helping the wealthy buy bigger McMansions!!
“It's not the intent of the FHA to facilitate people buying McMansions,” said Representative Scott Garrett, a New Jersey Republican opposed to higher loan limits. “The intent is to help the average American buy the average house.” Congress is weighing a proposal to restore higher loan limits that expired on Oct. 1. The measure, already adopted by the Senate, would allow the FHA and government-controlled Fannie Mae and Freddie Mac to insure single-family mortgages for as much as $729,750, up from the current $625,500, in high-cost parts of the country. Banks and realtors are lobbying hard to stop Congress from cutting off taxpayer support.
“I wish I had done more”—famous last words
Paterno is not a target of the criminal investigation, but the state police commissioner called his failure to contact police himself a lapse in "moral responsibility." "This is a tragedy," Paterno said. "It is one of the great sorrows of my life. With the benefit of hindsight, I wish I had done more."
IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
347.746.2014
www.InsuranceAdvisorsNetwork.com
Alerts available at http://dankeppel.blogspot.com/
Sam of NY used our new Guide to save big on his insurance premium this year. He took an hour one day when he received his auto renewal to check other insurer’s rates. He was able to increase his deductibles and drop some of the duplicate coverage he was paying for in order to save on all three policies. He found that his bundled policies with one company did not save him as much as purchasing the coverage separeately. When he shopped he found that the rates were significantly lower than the coverage he had. He figured he had been losing $1560 for the last 12 year because that was when he last priced his car insurance. The home insurance carrier gave him a discount for his home since he had never made a claim. The insurers keep a record of all home claims. Sam used his savings to pay off a credit card. Sam was happy.
amazon.com/Industry-Insiders-Guides-Buying-Insurance
Women Much More Concerned Than Men with Keeping Up With Monthly Expenses MassMutual Survey says. Both men and women are concerned about saving enough for retirement – but for women, just keeping up with monthly expenses is an even bigger concern. The economy remains the big concern. Women are more likely to keep an eye on spending and finding bargains. Women are also better investors but they have less income than men. Members use our Guide for Women to Ensure Their Financial Health: amazon.com/Ensure-Your-Financial-Health-Wealth/
NY Gov orders refunds on health insurance overcharges.
11 insurance companies have been ordered to refund $114.5 million to holders of policies that cover 573,748 people who were overcharged for health insurance premiums in 2010. The refunds were overcharges on the premiums insurers are allowed to keep after claims are paid--MLR. Most of the refunds will go to members of large groups—employer-provided insurance. All major insurers were involved. For list of insurers, see Governor Andrew M. Cuomo’s website: http://www.governor.ny.gov/press/110911health
GOP lowering’ death’ tax in some states
If you live in some states, you need to make provision for estate and inheritance taxes. Or you can change legal residence and pay nothing. Since some tax is due on assets as low as $675,000, owning an average value home may trip the tax buzzer. In some states, GOP lawmakers have raised the threshold so more citizens pass free of tax. In most states, how you own assets can make a difference. In other states, you may not have to worry at all—the wealthy have already fixed NO death tax and NO inheritance tax. The federal exemption is $5 million but states are changing theirs. Check your state. We help you plan your retirement so that there is enough fulfill your wishes: amazon.com/Your-Retirement-Spending-Plan-enough/
Obama and GOP agree—raise taxes slowly by reducing CPI increases
Congress is looking at reducing future raises by adopting a new measure of inflation that also would increase taxes for most families -- the biggest impact falling on those with low incomes. If adopted across the government, the inflation measure would have widespread ramifications. Future increases in veterans' benefits and pensions for federal workers and military personnel would be smaller. And over time, fewer people would qualify for Medicaid, Head Start, food stamps, school lunch programs and home heating assistance than under the current measure.
Taxes would go up by $60 billion over the next decade because annual adjustments to the tax brackets would be smaller, resulting in more people jumping into higher tax brackets because their wages rose faster than the new inflation measure. Annual increases in the standard deduction and personal exemptions would become smaller.
Washington assumes that we are stupid and will not notice this change to Chained Consumer Price Index: http://finance.yahoo.com/news/New-formula-would-reduce-apf-365864943.html?x=0
Time will tell if Cain sex beats Chained CPI on our media coverage.
ObamaCare’s mandate upheld by district court
A panel of the U.S. Court of Appeals for the District of Columbia issued a split opinion upholding the lower court's ruling that found Congress did not overstep its authority in requiring people to have insurance or pay a penalty on their taxes, beginning in 2014. The requirement is the most controversial requirement of Obama's signature domestic legislative achievement and the focus of conflicting opinions from judges across the country. The Supreme Court could decide as early as Thursday during a closed meeting of the justices whether to accept appeals from some of those earlier rulings. Our future health care lies in the hands of 5 guys who have fully paid policies. http://usconservatives.about.com/od/capitalpunishment/tp/Top_Conservative_Justices.htm
SCAMS
Romney plan to change your benefits
The former Massachusetts governor said he would lower the cost of Social Security by raising the eligibility age for benefits, but he did not specify how quickly those changes would be phased in. He estimated that he could achieve tens of billions of dollars in savings by capping the cost of Medicaid, the federal program that provides medical care to the poor, and allowing the states to take it over — a move his campaign said would "empower them to innovate."
In one of the most controversial elements of his plan, Romney proposed a major restructuring of Medicare, which currently provides health insurance to about 47 million elderly and disabled people. Under the changes, Medicare would become just one of many plans that seniors could purchase with a new "premium support" system that would give them a set amount of money each year to purchase a plan.
Aides said the plans would have to offer a level of coverage comparable to the benefits offered under the current Medicare system. They asserted that by encouraging a range of private insurers to compete with Medicare, which could begin running a deficit as early as 2024, the program's costs could be lowered.
GOP plan: less SS benefits from your contributions, kick the poor off Medicaid, and give you a voucher to buy your own old age insurance, if you can find an insurer when you are old and sick. We will need a lot of luck!
We, Taxpayers are helping the wealthy buy bigger McMansions!!
“It's not the intent of the FHA to facilitate people buying McMansions,” said Representative Scott Garrett, a New Jersey Republican opposed to higher loan limits. “The intent is to help the average American buy the average house.” Congress is weighing a proposal to restore higher loan limits that expired on Oct. 1. The measure, already adopted by the Senate, would allow the FHA and government-controlled Fannie Mae and Freddie Mac to insure single-family mortgages for as much as $729,750, up from the current $625,500, in high-cost parts of the country. Banks and realtors are lobbying hard to stop Congress from cutting off taxpayer support.
“I wish I had done more”—famous last words
Paterno is not a target of the criminal investigation, but the state police commissioner called his failure to contact police himself a lapse in "moral responsibility." "This is a tragedy," Paterno said. "It is one of the great sorrows of my life. With the benefit of hindsight, I wish I had done more."
IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
347.746.2014
www.InsuranceAdvisorsNetwork.com
Alerts available at http://dankeppel.blogspot.com/
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