Saturday, July 28, 2012

'Only the little people pay taxes': Create a Tax-FREE income river

'Only the little people pay taxes': Create a Tax-FREE income river
Protect all your investment earnings in a low-cost trust.
Turn your taxable pension or IRA into tax-FREE income.
Take $6,000 monthly FREE of income taxes.
Avoid tax on up to 85% of your Social Security benefits.
“Only the little people pay taxes.” Leona Helmsley said. Mitt Romney pays less than 15%. Warren Buffett pays only 17% total tax. 35,000 wealthy households paid $0 tax. 1,470 millionaires paid zero taxes in 2009. Are YOU paying too much? $12.95

Avoid future higher tax with Roth IRA tax-FREE trust
High-income earners cannot contribute to a Roth IRA to gain tax-FREE income. However, you can convert a traditional IRA to a Roth regardless of income level. You pay the tax on the converted amount now in return for ZERO tax on much larger amount in the future. EG: Couple contributes $10,000 a year for 10 years. Converts $182,000 to Roth IRAs in year 10, pays income tax on gains ($82,000) and lets them grow tax-FREE. By year 20 you have $500,000 free of income tax.

Middleclass retirement without company pensions
According to a recent study by the Employee Benefits Research Institute, fully 44 percent of Baby Boomers and Gen-Xers lack the savings and pension coverage needed to meet basic retirement-age expenses, even assuming no future cuts in Social Security or Medicare, employer-provided benefits, or home prices. Most Americans approaching retirement age don’t have a 401(k) or other retirement account. Among the minority who do, the median balance in 2009 was just $69,127.
Members who started late still able to create a Tax-FREE Retirement:

Are you paying too much for the same portfolio your advisor gives everyone?
Most money managers attract clients by word of mouth. That’s how Madoff did it. You trust your advisor because someone else trusted your advisor. You assume they did their homework so you didn’t have to do it. Well, you know how that story ends. Ask your advisor what they do for their 1.8% fee on assets. For the average investor, that could be $9,000. If they become popular seminar speakers, revenue can easily top $10 million. What do you get? One hour a year and boilerplate plans putting you in one of the seven core portfolios. Successful investors have their own plans and so stick with them:

New 401k fee disclosure will shock you to move to lower fees or Roth 401k
By November, you should receive your new statement. Under Department of Labor regulations, employers have to provide fee information to the investors in the plans by Aug. 30. The disclosures will simply show what an employee could pay in fees on various investment options in their 401(k) plans. But the real "aha" moment for many plan participants is likely to occur sometime after Nov. 15 when they receive account statements detailing what they actually paid in fees the previous quarter - in dollars and cents. Recent research suggests that the existence of fees might alone be news to many employees. More than 70 percent of 401(k) plan participants did not know they paid any fees for investing in their plans, according to a recent AARP study.
Small plan participants pay THREE times what large plan members pay so if you are in a high cost plan, you can stop and use a low-cost Roth IRA. Over time, current fees can take 40% of your nest egg. Redirect your 401k money to a tax-FREE forever account:

State Farm says ex-Penn State football coach Jerry Sandusky’s homeowners' policy shouldn't have to cover civil suits stemming from his sex crimes, even if they were committed in his home.

Save on auto insurance by using your Wealth ReserveTM to self-insure
Self-insure the small infrequent risks and invest HALF the premium you are now wasting on your car insurance policy. Plus, You don’t need medical coverage if you already have a comprehensive care policy. You will never receive a benefit from the medical part of your car policy—your health policy is primary. There are 21 other ways to save premium and build your own Reserves, not the insurers’:

American General AIG leaves long-term care insurance
Last week Pru left the group market. GE Genworth and Transamerica (Ageon) will change pricing and commissions. Long-term care liability loss rates and claim severity are now at an eight-year high and could grow steadily into next year, according to an analysis by Aon Global Risk Consulting. There are alternatives:

Lies My Financial Advisors Told Me and low-cost alternatives I found
Did your advisor show you how to earn 10-12% return on your money without paying their fees every year?
Did your broker tell you that you can buy individual securities for $0 commissions now?
Did your agent call you about falling insurance premiums?
Did your banker explain your accounts will be ‘nickeled’ and ‘dimed’ to death?
Did your money manager explain that low costs are the best predictor of investment success?
Your financial “team” is robbing you of $3,000 every year.
“Professional money management is a gigantic rip-off.” Bill Gross, Bond Guru
Just published:

SCAMS           “Only the little people pay taxes.” Leona Helmsley
It’s about time!
The Obama administration is launching an ambitious new drive against health care fraud by mining claims data from insurance companies and government programs in hopes of ferreting out bogus billing. Miami task force report:

Many banks trying to mislead on interest rate standard
A number of studies have shown that when it comes to lying about the key bank rate, Barclays was far from the worst offender. That title may belong to Citi.
In early 2010, two economics professors from UCLA and the University of Minnesota looked at Libor manipulation and found that, at least according to one measure, Citi had misstated its lending rate by more than any other large U.S. bank in the run up to the financial crisis. Worldwide, the bank that had the largest spread between what its Libor rate should have been and what was reported, according to the analysis, was the Royal Bank of Canada. By the WSJ's calculations, from January 23 to April 16 of 2008 Citi under-reported its borrowing rate by 0.87 percentage points, or nearly triple the 0.30 percentage point difference that the paper figured Barclays was fibbing by.

Pay for performance is the American standard
Why should we pay Congress people salary when we have no production?

Wealthy Congresspeople don’t want to show returns either—Mit keeps $ overseas
Most in Congress – Democrat and Republican alike – apparently are unwilling to make any of their returns public. Over the past three months McClatchy Newspapers asked all 535 members of Congress to publicly release their tax returns, but only 17 complied. An additional 19 refused and the rest failed to respond. Read McClatchy article.
Among those refusing to provide tax returns were Nancy Pelosi, the top Democrat in the House, and Harry Reid, the leading Democrat in the Senate. They each rejected repeated requests.
Insurers place their bets on GOP
Insurance industry political donations given to presumptive Republican presidential nominee Mitt Romney more than double those given to President Barack Obama this election cycle, according to a Best's News Service analysis.

Who owns your account now?
MetLife banking assets to GE

41 Watchung Plaza, B242
Montclair, NJ 07042

Friday, July 20, 2012

Americans denouncing citizenship to avoid tax but still here

Wealth: What every high school student needs to know – now iTunes App $3.99

Let money work for you: Start early with $100; hit $2 million sooner!

2,000 Americans denounce citizenship to avoid taxes; but still enjoy it here

Americans are finding more reasons than ever to take the drastic step of giving up their U.S. citizenship, and the gridlock in Washington may push even more people to run for the borders. Facebook co-founder Eduardo Saverin in Singapore since 2009. Socialite Denise Rich just moved. Of course, these folks still own property here and “party” here but just don’t want to pay for the priviledge. With all their money overseas, will they ask for the American ambassador to bail them out if they get in trouble over there? Use our:

AL reniges on promise to pay for college

Alabama's prepaid college plan is a step closer to an agreement with the state that would cap the amount those students receive at an amount less than the full tuition they were promised when they signed up for the contracts. Alabama's prepaid college plan suffered financial trouble in 2008 and its board doesn't expect to be able to pay the remaining 37,000 participants full tuition as it increases each year. The state already has agreed to add $548 million to the program in future years, but that still won't be enough to cover full tuition in the future if it keeps rising at the current pace, according to experts. Members use low-cost 529 plans with Vanguard mutual funds.

Study shows ETF for traders not investors

The study found that 62% of ETF shareholders exhibited buy-and-hold behavior, defined as ownership of more than one year. Though that is less than the 83% among mutual fund shareholders, Vanguard claims the difference is attributable more to the type of investor drawn to ETFs than to the products themselves. ETF investors are more likely to be male and over 60, and to check their account balances daily, according to Vanguard. Investors in each of those categories tend to trade more than the average investor. ETF traders tend to try to time the markets and usually earn less than buy-and-hold investors. There's no question that ETFs are the greatest trading innovation of the 21st century,” Mr. Bogle said at a conference in February. “But the question is 'Are they the greatest investment innovation?' and the answer is 'no.' ”

Mr. Bogle recalled seeing an ad for the S&P 500 ETF that touted the ability to trade throughout the day and thinking, “Who the hell wants to do that?”

ONLY the fools think they can outsmart everyone else. Members invest like businesses:

Insurers ask colleges for more safety plans for children—Act like adults!

Penn State issue highlights the need for risk management awareness and having policies in place to ensure a safe environment," said Waldorf, president of Waldorf& Associates, a broker that specializes in insuring colleges. If the whole administration ignores the rape of children, are all college kids at risk? What if the footballers rape a girl on campus? Would PSU prosecute footballers? Would they just hide it? Insurers fear future claims. It is as if there are no adults at Penn State.

Women say they are not confident about financial decisions

A Prudential survey shows that while 53% of women in a survey said they are the primary wage earners in their households, just 20% say they feel confident with financial decision-making. On the other hand, about 45% of the surveyed men expressed confidence in making financial choices. Women are better investors than men since they are more patient with their investments. Members use our Guide:

Pru out of LTCi market

The insurer announced Wednesday afternoon that it will discontinue sales of new group LTCI policies starting in August in all states. The carrier will continue to offer the product in Indiana, Iowa, Kansas, Louisiana and South Dakota for “a period of time,” as per state law requirements. Prudential will continue accepting group LTCI enrollments until June 30. Low interest rates are blamed for the decision.

Small employer 401k plans charge THREE times the rate of large ones: Use IRA instead

Participants in 401(k) plans with less than $1 million in assets pay average fees amounting to 1.41%. Disclosures show that is more than three times the fees paid by participants in larger plans. Member use tax-FREE IRA with costs of 0.07%.

FL takes care of poor children health but what about adults?`

Florida surpassed 2 million participants in Florida KidCare, a collection of government programs that partially or completely cover preventive and acute health care for state residents age 19 and younger. Family income dictates whether applicants' children enroll in the programs such as Medicaid, for the very poor, or Medikids or Healthy Kids, modified plans that charge a monthly premium ranging from $15 to $196 per child.

For adults, Rick Scott has rejected Fed money for Medicaid for the poor.

Hospital associations around the country have already signed off on cuts to reimbursement rates under the health care law on the assumption that the new paying customers they would gain, partly through the Medicaid expansion, would more than cover their losses. "If we're going to walk away from that coverage, we'll simply see those dollars we contributed through cuts in hospital payments go to covering people in other states," said Bruce Rueben, president of the Florida Hospital Association.

"It's a bad deal for people in Florida if it plays out that way."

GOP House votes to keep healthcare plan in retirement for themselves

"House Republicans refuse to admit they voted to give themselves taxpayer funded lifetime guaranteed health care instead of having the same health care as their constituents," said Jesse Ferguson of the Democratic Congressional Campaign Committee. "House Republicans didn't just vote to protect insurance company campaign donor profits this time, they're even helping themselves to lifetime taxpayer-funded government health care and now they need to be honest with their constituents and admit it."

Supremes upheld ObamaCare but split country in half—1/2 get care, ½ don’t get care

Scalia not unhappy since they took away the federal government’s ability to force states to join the expanded Medicaid program. Some states are balking, potentially leaving millions to continue with no coverage.

Republicans, meanwhile, offered no healthcare relief and even threatened to eliminate existing programs.

State uninsured and hospitals expecting Medicaid funds are denied by GOP

West Virginia hospitals currently provide $740 million in charity care to the uninsured. Many of those uninsured people will be eligible for Medicaid if the state decides to expand the program.

Texas’ Gov. Rick Perry, saying “no” to the federal health care law could also mean turning away up to 1.3 million Texans, nearly half the uninsured people who could be newly eligible for coverage in his state.

New Jersey Gov. Chris Christie not only would be saying “no” to President Barack Obama, but to as many as 245,000 uninsured New Jersey residents as well.

Alaska will not set up a program allowing residents to buy health insurance across state lines as envisioned under the Obama administration's new healthcare law

GOP Bachmann alleges Muslim spy in Sec of State Clinton’s office

Bachmann charges that a Clinton aide may be acting as the secret agent of a foreign organization. Charges were made in a letter to the State Department signed by Representative Bachmann and three other members of Congress. “Having worked for Congressman Bachmann’s campaign for president, I am fully aware that she sometimes has difficulty with her facts, but this is downright vicious and reaches the late Senator Joe McCarthy level,” wrote Mr. Rollins. Bachmann also said that the Founding Fathers eliminated slavery in 1776. She also thinks the British attacked NH not Concord MA. She is now a Swiss citizen so it doesn’t matter anymore what she thinks.

GOP Allen West (FL) claims 80 House members are communists and social security is a "form of modern, 21st century slavery."

These weird claims must be in the GOP fundraising manual to help stupid voters make up their minds. West and Bachmann are US Congress who represent some voters.

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

AXA Equitable found cheating health reimbursements

Regulators exact fine from AXA Equitable Life Insurance Company after an investigation revealed that the corporation made an undisclosed change to its medical claim reimbursement policy resulting in lower reimbursements for many members.

Socialism for the rich—Farm land owners get double the rents due to subsidy to renter

One of the largest farm real estate booms in decades could be getting a boost from an unsuspecting player: the US taxpayer. The government foots the bill for a large chunk of the nation's enormous crop insurance program. Our subsidy pushes the rent higher for the actual producers so land owners, not farmers, get the benefits without the risk.  The rent on part of the land he farms in MN doubled last year to $280 an acre, up from $140 in 2010. GOP Bachmann owns a farm with subsidies but is Swiss citizen now.


Who owns your account NOW?

Presidential Life to Athene Annuity & Life


41 Watchung Plaza, B242

Montclair, NJ 07042


Alerts available at

Friday, July 13, 2012

Save $3,000 this year

Save $3,000 this year

Why pay $3,000 a year for the same performance you can obtain for $75?

GOP tries to delete Dem voters from FL rolls to assure Romney win

Despite violating the Voting Rights Act of 1965 and the 1993 National Voter Registration Act. Florida Secretary of State Ken Detzner, however, "respectfully" disagreed with the Dept of Justice decision, and suggested it would continue with its efforts. Most county officials are now following the Justice decision. They have stopped disenfranchising voters.;lst;1

Brokers colluded to stop commission-FREE securities sales to investors

NASDAQ OMX Corporate Solutions and Loyal3 Holding Inc. had announced a venture on June 2 that would give retail investors the ability to purchase Nasdaq listed shares directly from companies without commissions and without the assistance of a traditional retail broker. The partnership was stopped by brokers within weeks, prompting the probe by state regulators.

Members build wealth without Wall Street using our Guide:

GE cutting benefits on LTCi

Genworth will suspend sales of lifetime benefits for its long-term- care insurance products, as well as “10-pay” versions of its LTCi product. “Given the continued low-interest-rate environment and industry dynamics, we are leveraging our extensive experience and making changes to best position Genworth for greater stability and future growth,” said Steve Zabel, a senior vice president for long-term care insurance.

Two Americas?

GOP disregards Supreme’s decision – There is no supreme law of land?

Boehner: Americans With Pre-Existing Conditions Won't Be Guaranteed Protection Under GOP Plan

U.S. Senate Leader Mitch McConnell says the odds are against lawmakers wanting to gut the health care law

The percentage of U.S. workers with employment-based health coverage continues to shrink, according to Employee Benefit Research Institute

Texas defies Voter Rights Act – Special ID to vote like a poll tax or race verification?

Mississippi's only abortion clinic permanently shut its doors under a new state law.

Obama offers health plan to CO firefighters; GOP plan—buy your own if you can afford

?GOP health plan copies ObamaCare in every regard? Check it:

Millions living in non-GOP states will get coverage for FREE

Millions of young people who look into their options will qualify for free Medicaid coverage for the first time. Others can get substantial help paying for private insurance. And new plans will limit out-of-pocket expenses for big emergencies to about $6,000.

Does your driving record predict your life expectancy?

This study analyzed more than 7.4 million MVR requests and determined they are a predictive data source of an individual’s mortality, not just in a vehicle. Individuals with major violations, such as alcohol-related infractions and excessive speeding, have all-cause mortality rates that are 70 percent higher than individuals who do not. Additionally, the presence of six or more driving violations on an MVR elevates an individual’s all-cause mortality rate by 80 percent. In other words, bad drivers die young. And someone paid for this study?

Progressive insurance wants you to try its ‘pay per mile’ program

Progressive has opened its usage-based insurance program to anyone interested in test-driving the program, which according to the company will help it court new customers and expand.

CA Aetna Health does bait and switch 

Aetna Health of California routinely and illegally denies patients access to out-of-network doctors after selling them costly insurance policies that promise patients the right to chose their own physicians, according to a lawsuit filed Tuesday by the Los Angeles County Medical Association (LACMA), California Medical Association (CMA) and a coalition of health care organizations and providers. “The insurance company interferes not only with doctor-patient relationships, but also harms the ability of California health care providers to get sick people the care they need in a professional and timely manner.”

Their doctors, in turn, grapple with threatening phone calls. Patients who are referred out of network are left with unpaid bills.

Allstate drops homeowners’ coverage – time to shop?

Allstate is dropping about 10,000 South Carolina home insurance customers who don't also carry Allstate auto coverage, have older homes and who insure their homes for less than $220,000.

Wealth: What every high school student needs to know – now Itunes App $3.99

Let money work for you: Start early with small amounts; hit $2 million sooner!

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

Finally, a banker CEO is fired – bank admits cheating, sort of ….

“We’re clean but we’re dirty-clean, rather than clean-clean.” 

Barclay bank CEO is fired for allowing his team to fix crucial economic rate

U.S. and U.K. regulators found that Barclays “systematically” attempted to rig the London interbank offered rate, Libor, and the euro interbank rate starting in 2005. It is the benchmark for more than $360 trillion of securities, including mortgages, student loans, and swaps. The two-year probe, which involves regulators on three continents, has touched as many as 18 financial institutions, including Citigroup, Deutsche Bank, HSBC, JPMorgan Chase, and Royal Bank of Scotland. A dozen firms have fired or suspended traders in connection with internal probes looking at whether their employees tried to manipulate Libor.

Socialism for the rich

House ups farm corporations revenue guarantees by 40%; cuts food stamps to 3 million

House Agriculture Committee leaders would increase, by up to 40 percent, target prices that trigger payments to grain and oilseeds farmers. They would give growers the choice of two farm programs -- traditional supports or a revenue guarantee. The Congressional Budget Office said two million to three million people would lose their food stamp benefits. Nearly 300,000 children would also be ineligible for the free lunch program under the new bill, the budget office found. Cotton and sugar subsidies were not cut.


41 Watchung Plaza, B242

Montclair, NJ 07042


Alerts available at

Friday, July 6, 2012

GOP will not implement Supreme's decision

GOP-controlled states will not implement ObamaCare despite decision—Seniors at risk

At least 20 states have passed binding legislation opposing broad elements of health care reform --states including Pennsylvania -- likely will not expand Medicaid since the U.S. Supreme Court removed the threat of federal penalties, analysts said.

That decision would be critical because of Pennsylvania's growing senior population and the high costs of skilled care for older people, said Linda Rhodes, a former secretary of the state Department of Aging.

"Medicaid has become a safety net for the middle class," Rhodes said.

Pennsylvania hasn't spent any of its $33 million federal grant to develop the marketplaces, department spokeswoman Roseanne Placey said.

ObamaCare is the law but states ignore Supreme’s law of the land.

Romney says Supremes motivated by politics—OH REALLY!

Mitt Romney suggested "political consideration" rather than legal judgment may have played a major role in why Supreme Court Chief Justice John Roberts voted to uphold President Barack Obama's health care law last week. "It gives the impression that the decision was made not based upon constitutional foundation but instead political consideration about the relationship between branches of government," Romney told CBS News. "But we won't really know the answers to those things until the justice himself speaks out—maybe sometime in history."

What about the Bush II “election” overturning FL voter count?

And voting to allow corporations to influence elections?

Mitt is right and we all agree the Supremes are political decision-makers like Congress.

House GOP to cut food stamps for 46 million Americans—sugar and cotton subsidies up

Conservatives in the Republican-led House are certain to demand greater cuts in the food stamps program, which makes up about 80 percent of the nearly $100 billion a year in spending under the farm bill. Senate Democrats are equally certain to resist more cuts in a program that now helps feed 46 million people, 1 out of every 7 Americans.

Older clients get taken by advisors—Again

New study shows younger clients get better discounts even though they are more likely to cancel their accounts. Even though older clients have larger transactions, advisors are assuming that the old brokerage model will lead to greater business in the future. However, younger clients know they can do all their investing online by themselves now. Eventually they will figure out that they don’t need the advisor. They can invest for FREE. Wealth Without Wall Street explains the new model:

States’ pensions not disclosing fees and special deals

The Governmental Accounting Standards Board has developed revised standards in accounting rules that will soon force cities, states and other local-government entities to disclose pension obligations that previously were hidden. Existing rules have been criticized for hiding the real cost of public pensions.

One member asked the State of NJ about fees on her pension and Treasurer refused to give answer. CA tried to reduce fees but private-equity fund managers often charge up to 2 percent of assets and 20 percent of profits. If the state earns 8% and gives away 2% plus profit (managers have 2% profit already) then you earn 5.6%. Vanguard charges only 0.05% for pensions.

What a special deal for Wall Street!

IRS goes after savers after losing $ millions to Swiss court

IRS is coming after you for IRA infractions that are technical but not very lucrative. The agency lost its bid to bring home revenue from American tax-dodgers hidden in tax haven Switzerland, so it needs to justify itself to Congress. The really big revenue loss is to corporations like Exxon and most of the Fortune 500 that keep profits overseas in foreign subsidiaries.

Check your IRA documents. IRS makes mistakes too, so check your backup:

Why your banker/broker/advisor/agent CAN’T give you the right products

It is impossible for your seller to give you the right products. They can’t sell them. The employer picks the products based upon revenue targets. Senior management wants to be rich not right about your long-term wealth. Example: Morgan Chase employees tell about selling their own bad funds. The bank actually changed the returns in marketing materials, according to JPMorgan documents reviewed by The New York Times. In 2011 they actually got caught and paid a fine and are still at it. Use our unbiased advisors:

Insider reveals hedge funds returns a mirage—worse than owning Treasuries

His research shows returns have dipped substantially since the 1990s; compensation eating into payouts. Simon Lack, a former hedge fund executive at JPMorgan Chase & Co. and author of the just-published “Hedge Fund Mirage”  finds that investors would have done twice as well with boring Treasuries over the past decade than being in the high-status, hard-to-research investments they find so captivating.

You may be sued when your parents go to a nursing home

States are out of money so Medicaid state funds are not paying the bills for indigent parents. A judge can force you to pay if they think you can pay. Twenty-nine states have "filial support" laws that could be used to go after patients' adult children for unpaid long-term-care bills.

In at least one of those states, Pennsylvania, nursing homes have started routinely using the law to prod families into paying their elders' bills or completing Medicaid paperwork on their behalf.

Drug company pays $3 Billion for $29 Billion to sell unlawfully—no one goes to jail

GSK allegations: "Some people are concerned that marketing by pharmaceutical companies may exert undue influence on doctors, that sales representatives may not always give doctors full information about the products they are promoting, or that there may be promotion of medicines for unapproved uses."

Dr got vacations for writing scripts not permitted by law

Execs were paid $ millions for sales not permitted

Children got drugs not permitted

Americans pay 2-3 times the price Canadians pay for same drugs

And everyone lived happily ever after?

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

States are losing $ millions of revenue to tax haven in Delaware.

PA has lost $400 million a year because companies have TAX loophole. GOP claims US corporations have highest tax rate:

Taxpayers are NOT protected by DoddFrank so Morgan Chase’s $20 B losses are just the beginning. Banks can make bad investments with our money still.

Bankers use email codes to fix interest rates for whole economies!

"As always, any help wd be greatly appreciated," the trader wrote.

"I am going 90 altho 91 is what I should be posting," came the reply.

This is how they “earn” the big bonuses--$200,000+

Bankers avoid jail even when insider whistleblower wins lawsuit

Countrywide fired one exec for refusing to make up a legal document. CEO Mozilo took $ millions after Countrywide bankruptcy. No one went to jail. Whistleblower waiting.


41 Watchung Plaza, B242

Montclair, NJ 07042