Banks WIN: new spending bill will make us pay for their gambling
losses AGAIN
House GOP/DEMs approved bank derivatives trading after
banning it in 2008. Buffett called derivatives “weapons
of mass destruction,” and fears for our future.
They nearly destroyed our global system. Wall St.
is trying to overthrow the financial controls put in place after the 2008
meltdown. Wall Street lobbyists attached a "rider" to the $1.1 T federal
spending bill that would roll back parts of Dodd-Frank and let the Big Banks go
back to gambling with our entire economy while expecting us to bail them out again.
We lost to Wall Street—they can trade “derivatives” and
meltdown again.
You can avoid paying for the higher taxes to cover the next
bailout: http://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976
Is the IRS most popular tax haven right for you?
You have a tax refund coming next April from earnings in
2014. Earnings for this completely tax-FREE account include
alimony and maintenance payments. Any part time job or self-employment
income will work too. This tax-FREE account has no age restriction, so it can
be used to leave your family a legacy FREE of all income taxes like life
insurance. Contributions to $5,500 per year ($6,500 for age 50+) can be made if
your income is under $191,000 for married-filing-jointly taxpayers and $129,000
for single taxpayers. Contribute your tax refund (average is $3,000) for 25
years and you may have $400,000. That could produce $36,000 a year TAX-FREE.
Yes, the Roth IRA may be right for you: http://www.amazon.com/Tax-Refund-Millionaires-Let-Uncle-Help/dp/149595644X
Congress to cut support for small business pensions
The employer-paid program backing multiemployer plans was $5
billion in the red. It projected that—unless Congress acted—there was
"about a 35 percent probability" its assets would be exhausted by
2022 and "about a 90 percent probability" by 2032.
Don’t count on employer pensions. Make your own: http://www.amazon.com/Your-Pension-Box-tax-FREE-employer/dp/1481945157
Your broker may lose pay if they help you next year
Merrill Lynch told its brokers they will get higher bonus
payments in 2015 for attracting new clients and assets but eliminated pay for servicing clients with less than $250,000.
Merrill will pay brokers .10 percent of new assets clients use to buy loans,
banking and trust products, or put into fee-based advisory accounts. Brokers
attracting over $10 million of such assets get .20 percent and .23 percent for
those reaching $50 million. However, bonuses in 2015 are being halved for new
money put into low-profit money-market or bank accounts.
Unless you have $10 mill with Merrill, you should do your
own investing with Vanguard’s Top Ten: http://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X
ObamaCare plans renew automatically—NO WAITING
A 25 year old client enrolled in a health insurance plan on
HealthCare.gov and only pays $20 a month! For 2014, 8 out of 10 people who
signed up for health insurance on www.HealthCare.gov
got help paying for their costs. Over the summer, the Obama administration decided
that nearly everyone covered through the 34 federally run exchanges would be auto-enrolled in the same plans for 2015,
with the same subsidies they received in 2014. The goal is both to ensure that
more people would remain covered through Obamacare, to avoid both overwhelming
the website during open enrollment and having a repeat of last year’s technical
difficulties. Less than 100,000 opted out of
auto-renewal when they signed up for 2014 coverage.
Buy only what you need: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083
Car thieves have hard time too
Vehicle theft is down by more than 50 percent compared to
1991, despite an increase in population and registrations of over 60 million,
according to National Insurance Crime Bureau. The drop—aided in part by better
investigation from law enforcement and insurers, and new technologies—means
vehicle owners are far less likely to have their cars stolen today than at any
time in the last 44 years.
Save $2,000 with anti-theft discounts you must ask for: http://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634
If you turned age 70 in 2014…
IRS reminded
taxpayers born before July 1, 1944 , that they generally must receive payments
from their individual retirement arrangements (IRAs) and workplace retirement
plans by Dec. 31, 2014 . Known as required
minimum distributions (RMDs), these payments normally must be made by the
end of 2014. But a special rule allows first-year recipients of these payments,
those who reached age 70½ during 2014, to wait until as late as April 1,
2015 to receive
their first RMDs. This means that those born after June 30, 1943 and before July 1, 1944 are eligible for this special rule. The
amount is usually calculated by your IRA trustee using IRS lifetime estimates.
If you don’t need the money, send it back to your trustee as a Roth IRA and
keep it growing for health care or legacy.
GOP crazies
The current top
Republican on the panel, retiring Sen. Saxby Chambliss (R-Ga.), said it’s “pretty
clear” the report’s main purpose is to attack Bush. He and other
committee Republicans largely avoided cooperating in the preparation of the
report, though he and several other panel members did vote to release
it this spring.
GOP says torture is OK
since CIA gets only the truth from the terrorist, who would never lie under
duress. Right!?! McCain says NO WAY! Torture is wrong.
Republican Sen. John McCain, who was tortured and spent five
and a half years as a prisoner of war in Vietnam, said the Senate report on CIA
interrogation practices proves what he knows from "personal
experience" -- that prisoner
abuse is ineffective and greatly damaging to America. McCain says victims
say “anything” to stop. Listen!
If torture is illegal and Bush/Cheney OKd it, will they go
to jail?
Why are we paying our taxes to Nazis overseas?
The House
unanimously passed a bill -- dubbed the "No
Social Security for Nazis Act" -- on Tuesday that would cut off those
benefits.
IRS thinks gas prices are going up in 2015
Beginning on Jan. 1, 2015, the
standard mileage rates for the use of a car, van, pickup or panel truck will be
57.5 cents per mile for business miles driven, up from 56 cents in 2014, 23 cents per mile driven for medical or
moving purposes, down half a cent from 2014, 14 cents per mile driven in service
of charitable organizations. http://www.irs.gov/pub/irs-drop/n-14-79.pdf
Court allows more Wall Street
criminals to walk
Prosecutors complained that the
ruling will tie their hands in pursuing Wall Street crime. From both sides, a
consensus emerged that the ruling would have a chilling effect on insider
trading prosecutions. More Wall Street tricks will work.
Get your fair share without
crimes: http://www.amazon.com/The-Tax-Shelter-Young-Americans/dp/1500426520
Star Trek’s Photon torpedo is
now real Navy weapon
Watch tax dollars at work: http://www.usatoday.com/story/news/nation-now/2014/12/11/navy-persian-gulf-laser-defense/20255507/
SCAMS Why are
we still
paying $700 Billion a year for WWII
deployments?
We are paying for 164,253 of our active-duty armed personnel
to be in 150 countries around the world. We have about 50,000 in Japan Germany
Are we preparing for WWII again? There are 1,208,083[1] armed
personnel in the United States .
Our taxes pay for about HALF of the WORLD’s military expenditures
every year. We have wasted $398.6 billion
so far on the F-35 program—they can’t
fly safely.
We just can’t afford to pay for everyone else’s defenses
anymore.
Japan, Germany and S.
Korea can pay for their own defenses.
The War on Terror requires SEALS’ attacks on top terrorists
at their homes. Iraq
proved converting a nation to Western-style republic doesn’t work.
Our accomplishments in Iraq —one
elite replaces another—again ?
Islamic State militants may be at the approaches to Baghdad
yet members of Iraq ’s
Shiite Muslim elite are offering cash for $1 million homes. Gilded mansions
with jacuzzis in Italian-marble bathrooms and armored vehicles parked in the
drive are replacing the humbler dwellings of the former middle-class Sunni,
Shiite and Christian inhabitants. The conspicuous
displays of Shiite affluence in tony Zayouna are testament to the shift in
political power since U.S.
forces ended decades of Sunni dominance under Saddam Hussein, according to
Andrew Bowen, Middle East .
We watched $12 BILLION tax
dollars vanish in Baghdad!!
Cheney was wrong—torture does NOT work. Terrorists lie and
lie and lie
They lie to get the CIA to stop torture, according to Senate
report.
You knew that all along. People don’t tell the truth if they
are terrorists—dahh.
Even the CIA was outraged by their contractor’s torture!
We paid people $80 million to torture people in our name and
got no “smoking gun”
CIA hired contractors to do the dirty work. Contractors helped
develop and operate the "enhanced interrogation techniques" that the
agency used on terror suspects, including waterboarding, were paid more than
$80 million, according to the Senate Select Committee on Intelligence report on
the CIA's interrogation program released Tuesday. Contractors include Mitchell,
Jessen & Associates, a Spokane , Washington
According to CIA counsel, John Rizzo, contractors Mitchell
and Jessen were recommending "sadistic
and terrifying" techniques.
Scam Alert to Wealthy—Avoid “Impact Investing” trend
The World
Economic Forum has a message for wealthy families thinking about impact
investing: Don’t buy on the buzz. Stick with what you know.
Seeking investments with the dual purpose of making a profit
and improving society has become trendy among wealthy people and money
managers, who rarely have the expertise or tools to put it into practice,
according to a report released today.
Reema Shah, former Ameriprise money manager who pleaded
guilty to securities fraud must pay $390,103, a figure roughly equal to the
gains regulators said her funds earned based on an insider tip about Yahoo. Shah illegally recommended Yahoo stock in
2009 on the basis of nonpublic information about a search engine partnership between
Yahoo and Microsoft. The SEC said the source of the information was Robert W.
Kwok, a former Yahoo executive, whom Ms. Shah had given inside information a
year earlier about another company, Autodesk Inc.
Judge orders insurers to show paperwork for underpaid Sandy
claims
Homeowners have sued Travelers and other insurers including
Wright National Flood Insurance and Hartford .
Suit says they illegally conspired
with engineering firms and others to
deny or underpay claims from Sandy .
Some homeowners are still waiting for flood insurance to pay off since 2012.
Sounds like Katrina all over again!
State Farm was notorious for its handling of homeowners’
claims related to the devastation left by Hurricane Katrina in 2005. Claims
were routinely denied without basis and private home inspectors hired by
the insurer have testified that State Farm told them to alter damage reports in
order to avoid paying claims or pay less than the claims were worth.
IAN
41 Watchung Plaza, B242
973.746.2014
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