Congress allows corporations to evade taxes--we pay

Congress allows corporations to evade taxes--we pay for them

More tax dollars are leaving the country as more US firms demand tax breaks to stay. Walgreen got $millions in tax breaks from IL and then decides to leave. We are being blackmailed and Congress does nothing. Even Fortune magazine sees the collapse in tax fairness coming. Coast Guard rescues Miami-based Carnival distressed Triumph and avoids taxes to pay its fair share. These corporations use our ports, roads, courts, communities, military hegemony, banking and capital markets but don’t pay for them. Forbes blames our tax rate not being as low as 5%. The 1%ers already got their tax cut.

Don’t get stuck with their tax bill. Start paying your fair share:

http://www.amazon.com/Tax-FREE-Wealth-How-laws-free/dp/1475089236/

More drug firms escape taxes

AbbVie plans to buy Shire and base the new company in the U.K. to benefit from its lower corporate tax rate. The move is part of a wave of U.S. health-care companies looking to take advantage of European deals to lower their taxes. Also Mylan of Canonsburg, Pa., agreed to buy pharmaceutical assets from AbbVie's former parent, Abbott Laboratories that will create a new entity organized in the Netherlands. Tax considerations appear to be the primary driver in AbbVie's courtship of Shire. Shire's tax rate was 17% and AbbVie's was 22.3% a difference of only 5%.

Young women turn away from advisors—using internet tools and save

About 45 percent of baby boomers use a financial professional compared with 31 percent of Gen Xers and 15 percent of millennials. “The declining use of financial professionals may be due in part to the vast amount of investment research and tools available on the Internet, which millennials and Gen Xers are often more likely to use than baby boomers,” said Lori Fouché, CEO with Prudential Group Insurance. Nationally, only 31 percent of women use a financial professional, down from 48 percent in 2008, according to the Prudential study. With one in five women saying financial professionals don’t understand their needs, using jargon and a hardcore product sell is part of the problem. Women make better decisions when they find their own solutions. Cut out the middle person and Save: http://www.amazon.com/Personal-Finance-Online-middle-person/dp/1500522120/

Best mutual funds from last year fail for this year

For funds in the top quartile in March 2012, only 3.78% maintained that position in March 2014, a new study said. “Very few funds can consistently stay at the top,” according to the report, authored by the index provider's director of global research and design, Aye M. Soe. “The figures paint a poor picture of the lack of long-term persistence in mutual fund returns.”

This study confirms that there will always be a top performer for the year but you can’t use past performance to pick it. With 9,000 funds, one will always top next year’s list—just not predictable.

An unbiased Morningstar study of all funds showed that “In every single time period and data point tested, low-cost funds beat high-cost funds.” Cost is the best predictor.

Use Warren Buffett’s strategy: http://www.amazon.com/Warren-Buffetts-Investment-Strategy-Forget/dp/1484822900

Why your health insurance costs so much

Some health insurers pay their CEOs so much they make the top 10 on pay day. Aetna paid CEO over $36 million  so a good part of your premium goes to one man. Does he really help your health or even Aetna stockholder’s health? Could the company follow the rules just as easily without each patient having to pay $50 to $100 a year for this guy?

Obama cut deficit in HALF

The government's budget deficit will drop to $583 billion this year, the lowest level of President Barack Obama's tenure. Obama presided over trillion-dollar-plus deficits during his first term as the economy struggled to recover from a deep recession and financial crisis. GOP Reagan, Bush I & II ran the deficit from 30% of GDP to 90% of GDP, as in WWII, at $17 Trillion! Two tax cuts for the rich and two undeclared wars.  

GOP Crazies

FL GOP caught changing voting map to suit GOP. Districts redrawn illegally according to judge’s findings. Even though there are more registered Democrats in the state, Republicans currently hold a 17-to-10 majority in Florida’s congressional delegation. Did Bush II “win” 2000 election illegally?

http://www.pbs.org/newshour/rundown/judge-rules-fla-legislature-broke-laws-congressional-district-maps/

Obama impeachment?

Sarah Palin declared last week that Obama should be impeached over the immigration crisis and other issues, a call that even Congressional Republicans have dismissed. “She wasn't a particularly good vice presidential candidate,” Holder said on ABC’s ‘This Week. “She’s an even worse judge of who ought to be impeached and why.”

“There’s a certain level of vehemence, it seems to me, that’s directed at me [and] directed at the president,” Mr. Holder told ABC News. “You know, people talking about taking their country back. … There’s a certain racial component to this for some people. I don’t think this is the thing that is a main driver, but for some, there’s a racial animus.”

The KKK uses bags of candy to recruit in SC

The imperial klaliff (political leader of the Muslim world) of the Loyal White Knights and said the effort was part of a recruiting event they hold three times a year. Kids found candy at door on Sunday morning with note "Save Our Land, Join the Klan." It had a phone number that led to an automated message discussing KKK efforts against illegal immigration.

GOP cuts IRS enforcement by 25%--we will have to make up for the tax cheats

The GOP-controlled House has voted to slash the budget for the Internal Revenue Service's tax enforcement division by $1.2 billion; a 25 percent cut that would mean fewer audits of taxpayers and make it more likely that people who cheat on their taxes will get away with it, especially if they have a lawyer/accountant.
 

GOP cuts securities regulator to halt advisor enforcement of fiduciary rule

House killed budget request for imposing the fiduciary rule (salesman must give best solution regardless of fees). SEC will not uphold ‘best for customer’ rule.

State Farm cancels 30-year homeowner because bad weather

State Farm, which has insured Metzler's property for 30 years, was declining to issue her a new policy. Too many claims, her agent said. Metzler, 74, was ticked off. Her neighborhood had been hit hard by extreme weather several times in recent years.

"It was ridiculous," Metzler said. "What do I do? Put a faucet on Mother Nature? Gee whiz." Homeowners met with Montana’s Commissioner to discuss claims disputes. Some had assumed a policy couldn't be canceled because of an act of God. Not true.

Non-renewal presents real problems for homeowners because once a customer had been turned away after multiple claims, it becomes difficult, if not impossible, to be picked up by another claim-weary company.

Brad Hilliard, a State Farm spokesman, said it “has to look at what it can reasonably cover.” Doesn’t matter how long a customer has been with the company or what kind of insurance they have. It is how many claims a customer has filed. Claims cost money. Shop for discounts every 5 years since loyalty doesn’t matter: http://www.amazon.com /Homeowners-Insurance-Beware-Coverage-Policy/dp/1480100870

Senate supports Supremes: our employer now decides which religious law we live by

The U.S. Senate turned back a Democratic proposal requiring for-profit companies to provide workers with insurance coverage for birth control even if the employer has religious objections. Five white guys’ religious views upheld.

Social Security office still verifies income

Social Security said its offices will continue issuing statements that recipients can use to verify their benefits. People sometimes need the information quickly to verify their income when applying for a loan or other government benefits, such as housing assistance. GOP cutbacks had scheduled to close offices in October but that plan was put on hold.

9 used cars with problems—avoid despite price discounting

Besides many GM ignition faults, theses 9 are losers. 

https://autos.yahoo.com/blogs/motoramic/9-popular-used-cars-with-dubious-reliablity-164308845.html

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 and 50,000 in 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 its own defense.

Ex-cop who shot dad in FL theater for texting is free on bond of only $150,000

It cost Tea Party leader $250,000 bond for doing MS GOP dirty tricks not MURDER. Ex-cop got No charge for shooting wife in hand. No charge for using gun in theater. Claims "self-defense." Family says he is not violent at home with guns!

Is your charity gift really a charity or scam?

IRS lists qualified charities online so you have no doubt.

http://www.irs.gov/Charities-&-Non-Profits/Exempt-Organizations-Select-Check

AIG, the prime suspect in the 2007 financial crisis, is paid $650,000,000 by Bank America

American International Group will get at least $650 million in a settlement with Bank of America Corp. as the second-biggest U.S. bank seeks to end liability for faulty mortgages. AIG sold insurance to global institutions that bet on risky mortgages that went bad. AIG was bailed out by taxpayers and now reaped more profit from its bad bets.

Justice delayed is NOT justice

A dispute over a car damaged in an accident 18 years ago has led a Pennsylvania judge to order Nationwide to pay $18 million in punitive damages. It’s too late for the victims and only 1 week’s profit for Nationwide.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts 

Wealthy escape taxation, Senate says

Wealthy escape taxation, Senate says: Lobbyists win!

Billions of dollars in U.S. taxes are going unpaid because Americans are exploiting Swiss bank accounts, and the U.S. government has failed to aggressively pursue Switzerland's second-largest bank, a Senate investigation has found. Credit Suisse, has provided accounts in Switzerland for more than 22,000 U.S. clients totaling $10 billion to $12 billion, according to the report. The U.S. government has received only 238 names ofU.S. citizens with secret accounts at Credit Suisse, or just 1 percent of the estimated total, the investigation concluded. Pay your fair share

Now, IRS account lets you go tax-FREE at no cost too: http://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466/

IRS lets you cut your tax by up to $1,000 per child
If you have a child under age 17, the Child Tax Credit may save you money at tax time. The non-refundable Child Tax Credit may help cut your federal income tax by up to $1,000 for each qualifying child you claim on your tax return. Check if you qualify: http://www.irs.gov/uac/Form-8812,-Additional-Child-Tax-Credit

Real estate is popular alternate investment after stocks and bonds

77 percent of millionaire investors say they own real estate, and 35 percent say they own Real Estate Investment Trusts (REITs). This is a key finding of the Morgan Stanley Wealth Management Investor Pulse Poll. Additionally, after real estate and REITs, millionaire investors cite ownership of collectibles (34 percent), followed by precious metals (28 percent), private equity (27 percent), real assets (oil, gas, mining, 17 percent), private real estate funds (16 percent), hedge funds (16 percent), and venture capital (13 percent). Stock/bond funds have returned over 11% per year since 1976. REIT funds have returned over 10% since 1996: http://www.amazon.com/Your-Retirement-Mutual-Funds-retirement/dp/1481114026/

What you need to know about ObamaCare for your 2013 tax prep.

For most people, the Affordable Care Act has no effect on their 2013 federal income tax return.

The individual shared responsibility provision and the premium tax credit do not affect your 2013 federal income tax return. Some tips for 2014:

http://www.irs.gov/uac/Affordable-Care-Act-Tax-Provisions-for-Individuals-and-Families

How much subsidy do you qualify for?

With the March 31 deadline for getting health insurance fast approaching, people can now use a new website to help them find out if they qualify for financial assistance if they buy a health insurance plan on the healthcare.gov website.

The website -- www.HealthTaxCreditTool.org -- is based on research that shows two-thirds of uninsured adults eligible for government subsidies on the new health exchanges don't know the subsidies exist, and that more than 80 percent said they would likely obtain insurance if they had financial help.

House GOP to vote 50^th time on ACA repeal

The House will vote again on repealing ObamaCare this session. It has voted 49 times to repeal, defund or roll back the 2010 health-care law since Republicans took control in 2011, according to a tally kept by Majority Whip Kevin McCarthy’s office.

The House will also vote to dismantle regulations on coal, gas and electric utilities despite the pollution caused by lack of regulation in the WV and NC catastrophes last month. Lobbyists are working overtime.

Mentally Ill in 11 Southern States Excluded from Care

“Dashed Hopes, Broken Promises, More Despair: How the Lack of State Participation in the Medicaid Expansion Will Punish Americans With Mental Illness," released by the American Mental Health Counselors Association (AMHCA) — shows that 6.7 million uninsured people with a mental illness are currently eligible for coverage under the Medicaid Expansion that went into effect on Jan. 1, 2014. But the majority of these individuals with mental health conditions will be left out in the coverage cold due to their state's antagonism toward the Medicaid Expansion health insurance initiative.

Workers no longer trapped by insurance, start businesses, make jobs

Now that Karen Willmus can get health insurance through Obamacare, she plans to quit teaching 9th grade English at the end of the school year. The 51-year-old found policies on the Colorado state exchange for about $300 a month. That's less than what she's paying now for employer-sponsored coverage and less than half what she paid on the individual market in 2007. Like Willmus, millions of people could quit their jobs or cut back on their hours in coming years because of Obamacare. Many Americans may opt to work less to retain eligibility for Medicaid or subsidies. But for some, Obamacare is allowing them to become entrepreneurs or retire a few years early since they'll be able to find affordable individual coverage for the first time. Instead of eating bonbons on her couch, Willmus plans to start her own business with her teen daughter publishing materials for non-native English speakers and others looking to improve their literacy. She expects to work even more than she does now and hire two or three people. Maybe ObamaCare is not so bad after all.

Doctors Become Reluctant Employees: Many Forced Out of Private Practice

Many physicians see employment as a necessary "shelter from the storm" in today's healthcare environment. When asked to select the three reasons to pursue an employed opportunity, necessity ("it is the only financially viable option") was most frequently selected as the primary motivation for choosing employment over primary practice, and the second most common answer selected as one of several motives. Doctors are looking for a work and personal life balance when seeking employment. "Our experience tells us that this trend is in response to heavy workloads, financial pressure from decreasing insurance reimbursements and rising costs of practice ownership," one recruiter said.

Investors moved all their equity money to Vanguard in 2013

As of November, all but $1 billion of the $41 billion investors added the US equities in 2013 went to Vanguard. Money managers and their owners are really worried about the indexing trend. The answer is simple: costs count. If you pay 2% a year for your 401k, mutual funds or IRA/pension contributions, the managers and owners can take up to 63% of your nest egg over time. It’s compounding. $3,000 a year grows to $1 million in 34 years. http://www.amazon.com/Maximize-Social-Security-Benefits-Retirement/dp/1495439224/

Why WhatsApp is worth $19 B? Why not voice mail or email?

The average adult Facebook user has more than 300 Facebook “friends.” It’s an ego thing? “I fear all communication in the digital age is being reduced to shouting in a crowded theater,” Actually, the average adult has far fewer friends — perhaps just a couple in many cases, researchers say — whom they talk to regularly in their real-world social network. “The address book is a simple, reusable list for any application, and simplicity always wins.” The popularity of private-messaging applications like WhatsApp, which has more than 450 million users, suggests that despite all the technological advances in recent decades, people still crave to communicate in small groups and often just with one other person at a time. WhatsApp Messenger is a cross-platform mobile messaging app which allows you to exchange messages without having to pay for SMS. It uses the same internet data plan that you use for email and web browsing, so there is no cost to message. It is a Yahoo email account for your phone.

What is old is new again and worth $19 Billion??? to Zuckerberg.

TN outlaws claims for sinkholes—lobbyists win

Despite some bipartisan objections, the Tennessee House of Representatives has narrowly approved legislation that intended to reduce or prevent homeowner claims against insurance companies from damages caused by sinkholes. Rep. Curry Todd, R-Collierville, who said the measure allows insurance companies to cancel policies “in mid-term on anyone” if they feel a claim may develop. “This is one of the most blatant bills I’ve seen to benefit one particular industry at the expense of the consumer,” said House Democratic Caucus Chairman Mike Turner of Nashville. “Today’s it’s sinkholes. The next day it’s going to be earthquakes and the day after, it’s going to be hail,” Travis said.

Tesla, Lexus triumph in Consumer Reports' annual rankings

Among the other nine top picks, Honda and Subaru claimed two apiece, with Toyota, Audi, Ram, BMW and Hyundai taking the rest. Among Detroit brands, Buick and GMC posted the highest scores, with General Motors as a whole generally performing better than Ford or Chrysler, whose Jeep brand scored lowest among those ranked. http://autos.yahoo.com/blogs/motoramic/tesla--lexus-triumph-in-consumer-reports--annual-rankings-174524556.html

"It's not possible, I'm a nun," she told doctors, according to the Italian press.

A nun who was rushed to hospital complaining of acute stomach pains has given birth to a baby boy – and named him Francesco after the Pope. The 31-year-old nun began to feel severe abdominal cramps on Wednesday and gave birth just a few hours later.

This is why ObamaCare requires all employers to offer birth control to employees!

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 and 50,000 in 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.

DoD head Hagel proposes budget cut but still pay for F35 plane failures.

Cheney cut 25% of DoD budget starting in 1990 as peace dividend.

IRS warns of scams this year

Characteristics of these scams can include:

•    Scammers use fake names and IRS badge numbers. They generally use common names and surnames to identify themselves.

•    Scammers may be able to recite the last four digits of a victim’s Social Security Number.

•    Scammers “spoof” or imitate the IRS toll-free number on caller ID to make it appear that it’s the IRS calling.

•    Scammers sometimes send bogus IRS emails to some victims to support their bogus calls.

•    Victims hear background noise of other calls being conducted to mimic a call site.

After threatening victims with jail time or a driver’s license revocation, scammers hang up and others soon call back pretending to be from the local police or DMV, and the caller ID supports their claim. Read more:

http://www.accountingtoday.com/news/IRS-Warns-Dirty-Dozen-Tax-Scams-2014-69650-1.html

British spies caught collecting our ‘sexually explicit’ pictures—YOUR private pictures

A British intelligence agency collected video webcam images — many of them sexually explicit — from millions of Yahoo users, regardless of whether they were suspected of illegal activity, according to accounts of documents leaked by Edward J. Snowden.

It is unclear how much of the data was shared with American officials at the National Security Agency, though the British ran queries of the data using a search tool provided by the N.S.A. calledXKeyscore, according to a report on Thursday by The Guardian.

The documents show that in one six-month period in 2008, the agency collected webcam imagery – substantial quantities of which were sexually explicit – from more than 1.8 million Yahoo user accounts globally. Certainly a Key Score for the boys!

Who owns your account now?

First Commonwealth Financial Advisors to Cantor Fitzgerald Wealth Partners

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alert

10 Reasons We Fail on Wall Street and how to fix it!

10 Reasons We Fail on Wall Street and how to fix it!

We earn 2.56% instead of 10-12% on investments

We end up with $170,128 in retirement, not $500,000

We pay more taxes than most wealthy people

We buy 'safe' investments and lose money

You could have earned 15.3% last year, tax-FREE. That’s the equivalent of 23.3% taxable. Tax-FREE accumulation provides an extra 25% to your investment total. You never pay taxes—no federal, state, capital gains or dividend taxes. You don’t have to fail anymore.

http://www.amazon.com/Reasons-Fail-Wall-Street-how/dp/1483913155/

Is the Allstate 'reducing-deductible' policy for you?

You may have seen a TV message about a policy that reduces your deductible over time.  So after four years of accident-free driving, you can end up with a zero deductible. However, you should know you pay more for that benefit. And remember, you must have a claim to “win” your “zero deductible.” Also, this does not guarantee your rates won’t go up too. Consider the policy with a higher deductible and a lower price for years. For instance, most insurers offer many discounts up front AND the benefit of a 25% premium discount at 10 years of safe driving. You can save a lot more than the $500 with discounts. You have to have an accident to save with Allstate. Learn all the ‘tricks of the trade’ of discounts:  http://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

Is a nonstandard car insurance policy for you?

This kind of coverage is for special circumstances like your little-driven ‘57 Chevy or really bad drivers. You pay less and you get less. It has limited coverage for repairs, drivers, liability in accidents, etc. Compare policy fine print before you smile at the low premium: http://money.msn.com/auto-insurance/7-gotchas-of-cheap-car-insurance

Allstate to partner with Wal-Mart stores in IL

Online car-insurance retailer Esurance (Allstate) is launching a pilot program to highlight coverage within 150 Illinois Wal-Mart stores via Kiosks. You buy coverage online or by phone, not in the store. Instead, compare prices for all the 16 discounts mentioned by our Insider to buy only what you need and save: http://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

Are you paying too much for coverage?

Insure.com’s annual study of car insurance rates in each state shows who’s paying the biggest bills. Overall, when averages of all vehicles are considered. Louisiana and Michigan are the most expensive places to buy auto insurance. Maine residents enjoy the lowest average annual rates. National average - $1,510. Rates are based on insurance for a single 40-year-old male who commutes 12 miles to work each day, with policy limits of 100/300/50 ($100,000 for injury liability for one person, $300,000 for all injuries and $50,000 for property damage in an accident) and a $500 deductible on collision and comprehensive coverage. The hypothetical driver has a clean record and good credit. The rate includes uninsured motorist coverage. Actual rates will depend on individual driver factors. LA has many damage lawsuits. MI has a guarantee of unlimited, lifetime personal injury protection (PIP) benefits for treatment of injuries from a car accident. The difference between the most expensive and least is $2,200 a year. Shop and compare. http://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634

Will you outlive your money or your health?

One out of every four 65-year-olds today will live past age 90. Yet, for 87 percent of our country's middle-income Americans age 55 and older, the idea of one's own longevity is often not contemplated or discussed, according to a new study. There are two primary concerns of respondents: declining health associated with age, and the ability to create a sustainable retirement income that may need to last 20 years or more. Consider the options now while you can do something about it: http://www.amazon.com/Longevity-Insurance-right-better-alternatives/dp/1482031434

Study shows why many investors shun advisors

When asked why they chose to direct their own financial future, only 13% cited a bad experience with an advisor and only 12% said they couldn’t afford to pay an advisor. So why don’t people use advisors? The two leading reasons were “I am more comfortable handling my retirement plan on my own” (57%) and “I don’t need professional advice to plan my retirement” (38%); as the report notes, these responses are really two sides of the same coin. Members also know that they are more likely to stick to the plan they make themselves: http://www.amazon.com/The-New-American-Retirement-System/dp/1461030072

10 most overpaid jobs

According to this industry news service, your financial advisor is the most overpaid occupation. Product pushers and fast talking salespeople promise the world and have it delivered to themselves. Advisors are not needed anymore, investors agree.

http://www.investmentnews.com/gallery/20130322/FREE/322009998/PH&Params=Itemnr=9

Investors going direct and saving more

Lack of trust in traditional advisory firms at least partly explains the growth in the direct channel, according to a new study. Only 27% of respondents said they believed that financial firms were “looking out for their best interests,” and 36% said they did not believe that to be the case. “Direct providers were largely unscathed by the reputation issues facing their advisory counterparts during the market downturn,” said Mr. Smith, director.  “There's only so many times a firm can pay a $100 million fine before people start questioning their integrity.”http://www.amazon.com/Your-Investment-Edge-Tax-FREE-Account/dp/1482695677

Which insurers offer annuities?

Almost every one offers some product. Here are the largest by face amount.

http://www.limra.com/Posts/PR/Data_Bank/_PDF/AnnuityCompanyRankings-Q4-2012.aspx Agents may be given extra incentives to sell annuities so you must shop for the best deal for YOU. Most annuities are expensive CDs so there are better alternatives to solve your needs. We help you decide:http://www.amazon.com/Not-Buy-That-Annuity-Guaranteed/dp/1466494573/

Is your pension underfunded?  Is it because your company hides money overseas?

The difference between assets and expected liabilities of the 100 largest U.S. corporate pension plans ballooned to $388.8 billion last year. Nearly 80% of the private pension plans covered by the Pension Benefit Guaranty Corp. are underfunded. Public pension funds are underfunded by at least $1 trillion, according to a report by the State Budget Crisis Task Force. Only 18 defined benefit pension plans offered by the 500 largest companies are fully funded. Yet companies are stashing more cash abroad as stockpiles hit record $1.45T.U.S. firms keep 58% of their cash, or $840 billion, overseas. Companies are hording cash overseas to avoid paying taxes. And perhaps to avoid paying the pensions they promised.

Study finds Fewer Young Adults without Health Insurance

Uninsurance rates across America’s young adults – one of chronically uninsured groups in the US – dropped without precedent from 33.9% to 27.9% in just one year.  The findings as well as a background material on the recent trend can be found at http://www.healthinsurancequotes.me/young-adults-can-stay-on-parents-health-plans-but-should-they/  “Measured by the adoption rate across young Americans we could count ‘Obamacare’ among the most popular laws in the US History. But they should think twice if they should. It can really pay off for all involved to do the math before embarking on a new trend.” Use every discount available: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

Vermont first to offer insurance exchange policies

Vermont will be the first state to see health insurers announce proposed rates that will be offered under the health insurance exchange being set up to comply with the federal health overhaul.

SCAMS           “Deficits don’t matter” GOP grandfather, Dick Cheney, 2002

“Entitlements”—our Social Security and Medicare money—did not produce the deficits. Two tax cuts for the rich and the Chaney/Bush wars cost $3.7 Trillion and counting.

http://www.reuters.com/article/2011/06/29/us-usa-war-idUSTRE75S25320110629

Insurers still holding life benefits are forced to find beneficiaries

Vermont House has passed a bill requiring life insurance companies to make a good faith effort to locate beneficiaries after a policy holder dies. House Speaker Shap Smith says that in too many cases, insurance companies make little or no effort to track down survivors and thereby avoid paying on a policy. Wow. What is the purpose of life insurance if not to help survivors?

The bill awaits Senate action. It would require life insurance companies to maintain and monitor a "Death Master File," a program that matches a person on the file and the social security number, name, or date of birth of an insured annuity owner.

We still have not cleared the mortgage mess

The same structure that led to the Great Recession is still in place. Taxpayers are still paying the $137 BILLION in losses and the legal bills and retirement packets of those that stood by and watched it happen. Taxpayers spent $11 million last year on medical costs for 1,392 Fannie and Freddie retirees. And from September 2008 through 2012, taxpayers also spent $114 million for legal bills racked up by former executives and directors testifying in lawsuits relating to the accounting scandals or financial crisis inquiries. Executives claim we must by their old contracts but most businesses being bailed out cancel their old contracts, as any union person can testify.

http://www.nytimes.com/2013/03/24/business/fannie-mae-freddie-mac-and-the-same-old-song.html

Who owns your account now?

Universal Health Care, St. Pete, FL insolvent.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Do you need Lawsuit insurance?

Lawsuit Insurance Do you need a lawsuit liability policy?

If your child ever displays their anger on an Internet site, you may get hit with a lawsuit for $millions. It happened to couple in GA and they must pay $750,000 after the award was reduced. You may be sued in an accident through no fault of your own. Do you have $100,000 for the lawyer to defend you? You can save on the cost of this excess or umbrella liability policy by shopping insurers.

Saved 62%

A New Jersey member found that her car insurer charged $210 for the same $1 million umbrella policy that her home insurer, State Farm, charged $556 for. She saves $346 a year. Your auto carrier usually gives the best price for liability coverage.

Use our Guide to pick the right coverage: http://www.amazon.com/Lawsuit-Insurance-need-right-policy/dp/1480061123/

Romney will lower rates but raise tax payments by cutting our deductions

He pledges to “lower taxes on middle-income families,” without giving high earners another tax cut or adding to the U.S. budget deficit. He can do that, he says, by capping the value of tax breaks available to any individual taxpayer. His tax plan, however, would upend financial planning for millions of middle-class households, denying them thousands of dollars in annual deductions, thus raising their taxes but lowering the "rate."

Recently, Romney said taxpayers might be able to take a total of no more than $17,000 in deductions each year. For middle class families in high tax states, this is the kiss of death. Many in NJ, NY, and CA pay over $17,000 in mortgage interest (average homes cost $500,000) and $12,000 in property and state income taxes. Some give $10,000 to charity.

Romney tax cuts will cost $5 trillion over 10 years. The limit on deductions do not “come close to paying for the $5 trillion,” said Gale, who co-authored a study of Romney's tax plan for the non-partisan Tax Policy Center in Washington.

http://www.businessweek.com/news/2012-10-05/romney-vow-to-lower-middle-class-taxes-at-odds-with-cap

Most reliable used vehicles

Eight out of 10 of the models on our list of most reliable used vehicles from the 2008 and 2009 model years come from Japanese brands. JD Power and Consumer Reports: http://autos.yahoo.com/news/10-most-reliable-used-cars.html

Vehicle Insurance:  Beware: Double Coverage by Dan Keppel

Your education and occupation may raise your premium.

Save $22,000 with the right policy.

Your policy duplicates at least three coverages.
The same 2-car policy can cost $1,400 or $3,600.
Create a Wealth Reserve^TM to self-insure small risks.
Accumulate $100,000 in 15 years to protect your future.

http://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634/

Is a variable annuity right for you?
AM Best, the insurer-rating firm, and its sponsor, AXA Equitable, are encouraging agents to use these complicated and expensive products for younger clients. Even though the SEC, securities regulator, has warned agents and clients about the suitability of VA s

(sec.gov/investor/pubs/varannty.htm), insurers pay high commissions to lock in investable dollars early. Young people have much better investment options without the high costs and lack of liquidity of a VA. Look before you leap:  http://www.amazon.com/Not-Buy-That-Annuity-Guaranteed/dp/1466494573

Congress wealth up 5%, American people’s wealth down 39%

The Washington Post reported the median net worth of the current Congress rose 5% during the recession while it fell 39% for the average American. The wealthiest one-third of lawmakers saw their net worth rise 14%. Some key findings of the report are:

• By 2010, the median estimated wealth for members of the House of Representatives was $746,000; for senators it was $2.6 million.
• There was virtually no difference between the wealth of Republicans and Democrats in 2010. Just six years earlier, the net worth of Republicans was 44% higher than the net worth of Democrats.
• 28% of Congress, or 150 members, reported earning more income from outside jobs and investments than from their Congressional salary of $174,000.
• 27% of Congressional members saw a decline in their net worth between 2004 and 2010.
• 73 lawmakers sponsored or co-sponsored legislation that could benefit businesses or industries that involved those Congressional members or their families.

No wonder they don’t want to raise taxes.

Government of the rich people, by the rich people, for the rich people, shall not perish from the earth. Lincoln was wrong. There are two nations.

Paul saved $4,567 by moving his IRA to low-cost Vanguard

Paul used Vanguard low-cost index and managed funds to gain 25.5% so far this year and saving $4,567 in fees this year. His IRA had about $300,000 in 2011 when he moved it because he was not happy with his advisor’s fund returns. He now pays about 0.3% instead of 1.3%. He has diversified his investments in preparation for retirement by using the 10 Vanguard funds suggested by our members. He has about $375,000 now. He read:http://www.amazon.com/Lies-Financial-Advisors-Told-alternatives/dp/1478281545

GOP Rep claims science is wrong yet votes on Science, Space & Technology issues!?

Georgia Rep. Paul Broun said in videotaped remarks that evolution, embryology and the Big Bang theory are "lies straight from the pit of hell" meant to convince people that they do not need a savior. Broun also said that he believes the Earth is about 9,000 years old and that it was made in six days. Was he just playing to audience or for real?

Problem: He sits on the House Committee on Science, Space and Technology and makes decisions affecting our future.

Congress hears study that finds lower taxes just makes rich richer: NO “trickle” down

The study shows that lower taxes DOES NOT increase growth: Both houses held a joint hearing on what they called the “treatment” of capital gains. It has been a one of the Ten Commandments of the GOP: Lower taxes produce greater growth. But now a study of growth and tax rates since 1950 shows “no statistically significant correlation” between the two. The study included a 5 year lag also. There is no trickle down growth.http://www.bloomberg.com/news/2012-10-04/study-finds-benefit-is-elusive-for-low-capital-gains-rate.html

Is your state pension in trouble?

States don’t like to pay for their promises and usually don’t have to. NY is the exception. Is your future pension just a broken promise? Are unions able to help or is this like Social Security? You paid in advance but, too bad, things change? See the 10 worst cases.

http://online.wsj.com/article/AP644ef2750d8248e393bfa995b8787524.html

Are your 401k fees too high?

The new disclosures—some 8 or more pages—seem to be obscuring the facts. There are fees for everything and mutual fund companies must list them all; which might be the problem. There are so many different kinds and it is hard to know how to reduce the ones you can control. Typically, your employer is not paying for any of them so they don’t have an incentive to reduce or eliminate them. They signed you up to pay for bookkeeping, telephone response, mailing statements, etc. You can reduce the management fees, 12 b1 fees and other expenses of the management company. Compare your plan fees to other company plans usinghttp://www.brightscope.com/. To understand what the fee names mean, seehttp://www.sec.gov/answers/mffees.htm. Most people are better off, making more money, by using low-cost funds. Paying more does not guarantee you earn more. In fact, the opposite is true according to many studies. Over time, paying high fees can take 40% of your accumulations. Many have found our Guide helpful: http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137.

NJ tries to give uninsured purchasing power despite Christie

New Jersey Senate approved legislation to create a health-coverage purchasing pool for the uninsured, after Republican Governor Chris Christie vetoed a similar measure in May. States that miss a Nov. 16 deadline to submit plans will have their exchanges designed by the federal government. New Jersey has 8.8 million residents, with about 1.3 million uninsured from 2009 to 2011, according to U.S. Census data.

Canada government certified meds less than HALF cost

Buying meds on the Internet from Canada can be safe using a CIPA.com approved pharmacies. EG: Abilify  15mg Tablets   30 tabs $227 at http://www.polarmeds.com/ but $592 at CVS. Both require script by real Dr. 

Is a “living trust” right for you?

Seniors are the target for this $2,000 sales pitch to “avoid the high cost of probate.” The Prepaid legal sales person then hands the paperwork to the deferred annuity person who clears another $2,000 or more by locking up savings in a 14 year contract. Most people will never need to probate their will since most assets are not governed by it. An IRA and life insurance as well as POD and joint accounts, and homes are usually paid directly to a beneficiary or joint owner. Most people also forget to change the title of their assets to the living trust so it is not used. Taxes can’t be avoided with this trust. Contact an estate lawyer for your specific situation, like property in multiple states.http://www.nytimes.com/2005/11/20/realestate/20home.html

States may tax your own money in a joint account

PA, NJ, NE, MD, IA, KY and IN will impose tax on your money if a joint owner of the account dies. The states consider the money split equally among the owners. A Financial Power of Attorney can be used in place of putting your grown child’s name on the account for convenience. This avoids the tax and allows any person you designate to obtain money when you are not able to make the withdrawal for emergencies. NOT LEGAL ADVICE

http://money.howstuffworks.com/personal-finance/personal-income-taxes/inheritance-tax.htm You can make a POA yourself at http://www.nolo.com/legal-encyclopedia/durable-financial-power-of-attorney-29936.html’

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

Amex fined for misleading customers 4 ways—Refunds to ¼ million customers

New Fed regulator, CFPB, fined American Express $14.1 million for promising $300 on signup cards then reneging. http://www.consumerfinance.gov/pressreleases/cfpb-orders-american-express-to-pay-85-million-refund-to-consumers-harmed-by-illegal-credit-card-practices/

Romney’s debate promise—pre-existing condition coverage—is already law

Health-policy specialists say Romney’s plan is the same protection already in a 1996 U.S. law and doesn’t show how it would help at least 36 million sick people at risk of being denied coverage.

Why don’t we all have the same health coverage as Congress and the President?

They pay for private plans like any large employer. The plans provide great care as you can wonder. We taxpayers pay for about 75% of the costs of about 300 choices according tohttp://www.factcheck.org/2009/08/health-care-for-members-of-congress/. There is no reason why all the uninsureds could not be offered the same deal as the our ‘representatives.’ After all, don’t they work for us?

http://www.opm.gov/INSURE/HEALTH/INDEX.ASP

Foreclosure rescue fraud charges against 530 in NY alone

More than 73,000 homeowners were victims of various frauds for which charges were filed during a year-long crackdown, including “foreclosure rescue schemes” that take advantage of those who have fallen behind on payments, the Justice Department said. The U.S. brought charges against 530 people over schemes that cost homeowners more than $1 billion, NY AG Holder says. 

MN curbs misrepresentations by Embassy of Heaven

State insurance regulators have ordered the Oregon- based Embassy of Heaven Church and its leader Paul Revere to stop making misrepresentations related to insurance in Minnesota, saying a type of auto insurance it promotes through Mutual Assurance is bogus.

IAN

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