Will GOP support tax break for those who don't vote GOP?

Will GOP support tax break for Dem’s middle class?

Most corporations pay ZERO tax. Obama wants to bring corporate cash home. Hoping to avoid taxes, the top 500 companies have stashed more than $2 trillion in earnings overseas and at least $690 billion outside the U.S. Wish we could! Since they DO NOT pay their fair share, the middle class must pay the bill for 1.2 million military force—Germany, Japan, Social Security, Medicare, Medicaid, Veterans, subsidies to corporations—oil, gas, farms, and Congress people who hold “do nothing” jobs. Every year that Apple, Google, Facebook, etc don’t pay their fair share, the deficit rises. Average American tax rate is 32% while the rich pay only 15%.  It is Regressive. https://www.youtube.com/watch?v=Cu5B-2LoC4s

Until GOP agrees, use the Tax Shelter for working people: http://www.amazon.com/Tax-Shelter-Young-Americans/dp/1500426520

Is your broker/advisor a fiduciary? Is it important?

Our government wants those who advise us to pledge that they are acting in OUR best interests, not those of their employer. Sales organizations want to make a profit so they offer us products/services with built-in commissions, fees, and many other charges. But are we getting the best deal for us? Do we buy groceries on sale—the house brand—or the most advertised or hyped no matter what it costs? That is the question. Example: are we better off buying mutual funds that cost 0.05% or 1.5%? According to many studies and Warren Buffett, we will have more by paying less. Fiduciary rules keep sellers honest. 

We don’t pay the extra charges with Buffett’s strategy:

http://www.amazon.com/Warren-Buffett-Millionaire-money-snoring/dp/1508887381

Why don’t bankers/executives go to jail when they do bad things?

It is curious that when corporations do bad things and have to pay a heavy fine, the people who committed fraud, deception and whatever, never go to jail and the stockholders pay the fine. The perp walks Free and gets the bonus. When will stockholders (our mutual funds) STOP this trend? Citibank holders will decide to end this in April. A similar proposal for all corporations says: It’s only fitting for executives to hold themselves accountable for costly misdeeds, Mr. Zipes argues, even if they were unaware of them. After all, top managers often take credit — and receive bonuses — for positive corporate activities in which they had little role or knew nothing about.  BankAmerica holders are still paying for Countrywide’s Mozilo sins. It is about accountability and we all ultimately pay for the lawlessness of the individuals that have an incentive to cheat big time.

Why America needs regulation and accountability—no GM exec went to jail either

GM recalled 2.6 million vehicles for that faulty switch in 2014. G.M. originally tied 13 deaths to the defect, a count that has since risen to at least 67. The tally of deaths and injuries is expected to grow further but GM kept silent. Fines don’t raise accountability or dead victims.

IRS can’t even collect its own workers’ taxes

IRS says federal workers owe more than $3.5 billion in unpaid taxes. Almost 305,000 federal workers and retirees owed back taxes as of Sept. 30. Congress has not acted. About 5 percent of House employees owed back taxes, compared to just 3.5 percent of Senate workers. We have our salaries garnished if we don't pay but not if you know someone in Washington. 

GOP crazies

Senate leader McConnell says ObamaCare hurts the middle class and GOP will end it. Reason 1: Taxes will be passed on (new tanning salon tax?). 2. Coverage cancelled (inadequate plans eliminated). 3. ObamaCare is expensive ($100/mo?) 4. Meds will cost more (it's a for-profit industry!). 5. Govt controls care (actually, insurers decide our coverage). McConnell’s own Congressional Study says 12 million NOW have coverage and net costs will decline.

GOP budget would throw millions of Americans off health insurance, cut $4.3 trillion from programs like Medicare, food stamps and Medicaid. Education programs would be scaled back. Pell Grants for college students would be frozen. Wall Street regulations passed in the wake of the 2008 financial crisis would be scaled back. GOP leaves tax loopholes for the wealthy and corporations to avoid paying their fair share of taxes.

Death knells for middle-class Americans.

GOP lives by different rules

IL Rep Schock sought reimbursement for 172,520 miles on his car, despite the fact that he signed documents that certified the vehicle traveled less than half that distance. “In addition to staying at expensive hotels, Schock also has spent more than $90,000 in campaign dollars on private air charters, an unusually high sum for a rank-and-file member of the House.” He quit and hired TWO lawyers.

FL GOP Gov Scott has banned the words “global warning” to make problem disappear

Florida Department of Environmental Protection workers have been banned from using terms like 'climate change' and 'global warming,' according to FL employees. "Sea-level rise was to be referred to as 'nuisance flooding.’ " FL Pres Jeb Bush is a global warming "skeptic." FL Sen. Rubio said last year that he doesn't "believe human activity is causing these dramatic changes to our climate." However, Scott put $106 million in budget to protect homes and infrastructure. Sea-level rise alone threatens 30 percent of the state’s beaches, according to FCIR. Scott says he is not a scientist but he decided “global warming” does not exist.

GOP to vote Medicare increase March 2015

Congress is voting to raise our Part B and Part D premiums and increase deductible amounts that millions of seniors must pay. They're fixing the Medicare doctor payment system. They have failed 18 times in 12 years since lobbyists control funding decisions. Half of Medicare beneficiaries have incomes less than $23,500. Many are already struggling to afford health care, groceries, utility bills and more, and rely on Medicare to help afford essential treatment. But they don’t pay for elections. Medical lobbyists do. Follow the money.

GOP President Ted Cruz–the “Wacko bird” or New McCarthyism?

Cruz led a shutdown of the federal government in October 2013. Will he close the WH and run America from his Texas ranch? Will he continue to pay farmers to grow ethanol? Cruz's wife, Heidi, a managing director at Goldman Sachs in Houston, will campaign for privatizing EVERYTHING. But sheneeds the ObamaCare insurance that Ted wants to kill. Cruz target: half of the voters in the Iowa caucus are expected to be evangelical Christians. Cruz version of Christianity is like Sharia Law. Cruz put the ‘graven image’ of the Ten Commandments at the Texas Capitol. Sen John McCain called him a "wacko bird." Cruz reads "Green Eggs and Ham" on the Senate floor. Cruz was born in oil field in CANADA to Cuban/American parents. Cruz will have new book: "A Time for Truth." God save US.

Opposes tax increases on any income bracket
• Supports audit of the Federal Reserve by own wife’s firm-GS-costing taxpayers $100 million
• Supports single-rate tax system which means rich pay less and we pay more
• Strong opponent of Affordable Care Act (known as "Obamacare")
• Supports raising the eligibility age for Medicare• Supports raising the retirement age

Supports private retirement account option for Social Security

Countries that tried privatizing Social Security

11 countries have gone back on private plans. Money managers were taking high fees. Governments instituted private accounts and then after citizens saved, took the balances. Poland started in 1999 and in 2014 “seized more than HALF the assets.” Hungary and Argentina cancelled plans and used the money to pay current bills. Vote NO to privatizing in 2016.

Will your 401k be enough to pay for retirement?

The median balance for savers at Vanguard aged 55 to 64 in 2013 was $76,381. Assuming they reach $100,000 by the time they claim full SS benefits at 67, the average income will be $4,000 per year plus SS income of about $16,000. Most people would find it difficult to live on $20,000 even if they owned their own home. Either folks will be moving to AR, IA or Argentina or investing $3,000 a year for 15 years to add $100,000 of Tax-Free income.

Invest in low-cost stock funds for the long-term: http://www.amazon.com/Tax-FREE-Income-100000-tax-free/dp/1477472584

Cars to avoid according to CR

Consumer Reports tested these vehicles with the lowest test scores.

https://autos.yahoo.com/news/disappointing-dozen-cars-fail-measure-140000640.html

More cuts to employer-paid retiree’s health care

California's struggling to pay for health care for retired state employees, with an estimated $72 billion in medical costs coming in the next 30 years. Gov. Jerry Brown's solution: Make workers start contributing money to pay for the health care they'll need after retiring. Loss of pay raises will squeeze middle class more!

IRS reduced audits and tax assistance—more volunteers actually do IRS’s work

The 2014 Data Book contains charts that show trends, such as the decline in the number of audits and the decline in telephone and in-person tax assistance and increases in the use of online resources and volunteer tax assistance. Thanks to AARP volunteers who do 5 returns a day FREE. 

Is this what America has become?

A 13-year-old boy in Florida fatally shot his 6-year-old brother, wounded his 16-year-old brother and then killed himself on Wednesday during an argument over food, authorities said. Mom and 18-year old sib are not home in Tampa FL.

An “adult” with 4 kids leaves a loaded gun laying around for the kids to play with?

Who owns your account now?

LearnVest to Northwestern Mutual

Kraft food to Buffett’s Heinz : Kraft Heinz Company

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

We are paying for 164,253 of our active-duty armed personnel to be in 150 countries around the world. We have about 50,000 in Japan and 50,000 in Germany.

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 trained troops ran away.

We are wasting $4 billion a year on Afgan tribal rivalries paying ransom to Al Qaeda.

Former IRS employees and hackers take our data

The GAO report says the IRS uses old outdated software without proper security functions. IRS passwords can easily be compromised, the report notes. Even worse, the report says the IRS does not always delete employee access when workers quit or are fired.

Congress people daily routine for “do nothing” job

Lobbyists breakfast meeting, gym workout, committee meeting BS, lobbyists lunch meeting, review lobbyist-written legislation, “dialing for dollars” separate lobbyists office (it's illegal to solicit campaign cash from the official congressional office), gym workout, lobbyists dinner meeting, lobbyists fundraising event—drinks all around, free flight home on Thursdays, return Tuesday, do again. It is considered poor form in Congress -- borderline self-indulgent -- for a freshman to sit at length in congressional hearings when the time could instead be spent raising money. “Call time”—dialing for dollars to wealthy and businesses takes 4 hours a day! Of course they never read the laws.

Lessons of war

Jim Clapper, Dir National Intelligence, admits we did not foresee that overnight, almost 5 divisions of US-trained Iraq’s army would literally melt away. We can’t “instill in any force, the will to fight.” It must come from “a cause of their own and we can’t impose it.”

New place to complain about financials.

http://www.consumerfinance.gov/complaint/

Miracles do happen

Boy comes back to life after 30 minutes.

Who said women are underpaid?

Google's new CFO, Ruth Porat, gets $70 million pay package. It sure beats that old top-pay Morgan Stanley job.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts 

Who does NOT pay taxes?

Who does NOT pay taxes?

44% of Americans don’t pay income taxes. The best way is to be really rich: take all your income from tax-FREE muni bonds, Roth IRAs, South Dakota income trusts and other tax evasion tricks only the rich can afford to set up. Many rich and over 2/3 of corporations have enough tricks to pay less tax than working-class Americans—under 15%--like Apple, Warren Buffett, Mit Romney, John Kerry and many members of Congress.

You don’t think they got to be millionaires and billionaires by paying the legal IRS rate of 39.5%, did you?

The only people who pay the rich people’s rate are average workers like Warren Buffett’s secretary. Her tax rate was 36% not counting her pension dues. http://abcnews.go.com/blogs/business/2012/01/warren-buffett-and-his-secretary-talk-taxes/

The poor don’t pay tax. Their wages are so low that the Earned Income Tax Credit (welfare) and child-related tax breaks offset what they owe. Another way is that your wages are so low that you are under the minimum society says you need to survive: in 2013, the minimum are $10,000 for single individuals, $12,850 for heads of household and $20,000 for married couples filing a joint return. Many seniors, especially women, receive less than this from Social Security and savings.

You can avoid taxes legally at low cost: http://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466/

1^st class postage went up 4.7% in 50 years—how is your savings?

In 1964, postage was 5 cents. In 2014 it is now 49 cents. Postage went up in price like everything else. Are your savings keeping up with inflation? Did your bank savings grow at 4.7% over this period? If not, you lose purchasing power and can’t afford a stamp. If you were investing $100 a month in the stock market during that time, you would have about $4 million today. It is TIME that makes money grow. Start now: http://www.amazon.com/Best-Long-term-Investment-its-tax-FREE/dp/1492117455

Insurer now offers ‘sign up by text’

New quick enrollment from the Principal Financial enables individuals to sign up to save for retirement in minutes with a text message. "One of the easiest ways to save for retirement is through an employer-sponsored retirement plan, yet the biggest hurdle is simply getting individuals to sign up," said Jerry Patterson. "We know people have good intentions, but while many eligible employees say they are going to take action, many of those same employees don't. By making the process quick and convenient, we're able to battle inertia and get individuals to start saving right away." Typically, insurers provide the highest cost mutual funds in employer plans—ING, HSBC, Principal and Prudential are noted: http://www.fundsupermart.co.in/main/fundinfo/worst_Funds.svdo

Most funds don’t beat their low-cost index equivalent

Morningstar reported that 79% of large-cap mutual funds lost out to the S&P 500 Index. Low-cost index funds have the largest amount of investor funds and show consistent 10% plus returns long-term. Vanguard’s 500 Index costs 0.05% and has provided 11% average annual return since 1976. With modern investing, the best costs the least: http://www.amazon.com/Internet-Money-Smarts-More-Less/dp/1493643223

Youngest woman billionaire

Sheryl Sandberg’s fortune surpassed $1 billion today after Facebook’s stock closed at a record high, making her one of the youngest billionaires in the U.S.

Small cars are dangerous—one is ‘acceptable’

The smallest cars on the road carry the biggest injury risk in a common and deadly type of crash, a report released Wednesday reveals. Only one of 11 small city and minicars passed the Insurance Institute for Highway Safety's small front overlap crash test in which a car hits a barrier with the front driver's side corner at 40 miles per hour. Chevrolet Spark is the only car with ‘acceptable’ rating.  The worst performer was the Honda Fit, which earned a "poor" rating in the test along with five other models and all but one of the rest were "marginal." Thus, Spark is the only one in the group to earn the IIHS Top Safety Pick designation. However, there are safer cars for the money.

Supremes may kill union memberships

Home-health workers want the court to hold that permitting the unions to collect fees for representing non-members—the so-called “agency fee”—violates the First Amendment.

At least four members of the Court seemed ready to reach that “radical” result. The fate of public employee unionism in the nation seemed, by the end of the argument, to lie in the hands of Justice Antonin Scalia. Ouch. Unions negotiate benefits for non-paying and paying members. Non-payers will get free ride until unions fold. Membership is already falling and losing political power. Is this the end?

Employees reduced to part-time to avoid ObamaCare

Target said it will end health insurance for part-time employees, joining Trader Joe’s, Home Depot and other retailers that have scaled back benefits in response to changes from Obamacare. 

Shopping ObamaCare plans important to reduce premiums

A recent survey of plans demonstrated a wide range of deductibles and out-of-pocket cost caps called “stop-loss” amounts for similar plans.

In order to demonstrate the range of cost-sharing within each health plan tier, HealthPocket examined the lowest to highest deductibles and out-of-pocket caps for the new Affordable Care Act health plans in 34 states. In three of the four health plan tiers (bronze, silver, and gold) HealthPocket saw deductible ranges spanning thousands of dollars among insurance policies belonging to the same category. The largest range was within silver plans where the lowest deductible recorded was $0 and the highest was $6,250. The smallest range was among platinum plans where the lowest deductible was $0 and the highest was $1,000. Buy only what you need: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083/

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] personnel in the United States. Our taxes pay for about HALF of the WORLD’s military expenditures every year.

No unemployment insurance for the uninsured

Congress maintained their lobbyists’ favorite pipelines after Christmas but not for those laid off by the outsourcers and “job creators.” House Republicans counter that they have approved legislation they say would spur job growth—cut tax and regulation on toxic spills and raise the deficit.

"You see a mentality among the Republicans and their leadership that basically says when people are down and out and need a helping hand, we're not going to give it to them because they're lazy, and the only way to get them up off the couch and away from the television and off to work is to stop sending unemployment checks," said Senate Majority Whip Richard Durbin, D-Ill.

Congress put itself back on the couch and took a week off after 1 week back. Great jobs!!

Can Congress stop taking paychecks for no work and pay for unemployment benefits?

Here is the money to pay for unemployment benefits!!

The IRS still held an estimated $917 million in unclaimed federal tax refunds for 1 million workers who didn’t file taxes in 2009.

Boss gives himself a raise despite bad behavior

Despite the legal troubles that JPMorgan Chases faced in 2013, which amounted to more than $20 billion in fines, Jamie Dimon, the bank’s chairman and chief executive, is getting a raise.

Most of the unemployed could do that job! Get $20 billion fine and ask for more pay.

Taking responsibility by NOT

Freedom Industries, responsible for the chemical leak that left portions of West Virginia without water for days, filed for Chapter 11 bankruptcy. So much for taking responsibility by “Freedom” industry execs. “Freedom” owes more than $2.4 million in unpaid taxes and roughly $4,000 in unpaid unemployment compensation insurance. It appears that the officers have been FREE from responsibility many times in the past. http://online.wsj.com/news/articles/SB10001424052702303819704579316951855899732

How do criminals get lines of credit for this operation?

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Do Washington elites pay taxes?

What happens when the representatives we put our trust in go to Washington? Is it the water? Is the air contaminated from the swamp gases that trickle up through the cracks in Washington’s mausoleum-type buildings?
Obama’s victory made Americans feel that America might again stand for equal and fair treatment. I thought for a brief moment that after the election-night speech in a Chicago public forum, we might be on the right track back to feeling pride in our country’s leaders.
To me, and many Americans, the election of Obama represented a moral re-awakening of America. In my naïveté, I thought that we had seen the end of the DOUBLE standard. There is one standard for the political elites and another standard for the people who pay their salaries.
Obama or his staff has nominated one, Tim Geithner, for Treasury. This position involves honest dealings in crucial financial matters. To the world and to my fellow taxpayers, this guy should be Mr Clean. He should symbolize the most honest and fair way of handling financial matters. He should also know his subject matter.
The public face that is presented about this candidate is that he is wealthy and knowledgable about financial matters. We are told that Obama aides “said they didn't think these issues would present a problem, given what they characterized as the minor nature of the infractions.” Only in Washington is not paying taxes, twice (even after an audit), a “minor infraction.”
We are being told that if you get caught not paying taxes, not once but twice, it is OK if your “mistakes weren't intentional” and you are “contrite.” Instead of dealing with this matter openly, with the “transparency” Obama promised, our representatives take the wealthy tax cheat into a room closed to the public and press. For most Americans, public humiliation is part of the mia culpa. Not for the elites.
The specifics of how a wealthy knowledgable financial guy and his accountant can cheat we fellow taxpayers can be read in the press. It is just hard to believe that you and I would not end up in court after failing to understand that we must pay Social Security and Medicare taxes, even after we were caught once. Even if the future head of the IRS doesn’t know it, his tax preparer would know that Americans can’t deduct our child’s camp fees, early-withdrawal penalty from a retirement plan, a charitable-contribution of ineligible items, and utility costs.
Finally, as a knowledgeable and wealthy public servant, it is hard to believe that this guy would employ an immigrant housekeeper whose work-authorization papers had expired. Where was this person during the Clinton administration when we all learned that the wealthy keep illegal immigrants so they can pay less.
Would most Americans just assume they could get away with this kind of dishonesty? It is not a matter of degree. Yes, I agree the nominee is not a mass murderer. However, if Obama and our representatives support a nominee engaged in illegal acts, aren’t we continuing the same history as Bush and other elites: election by court order, evesdropping without court order, torture by any other name, intentional deception to make war, welfare for the wealthy, indescriminate spending, and poor judgement. Change was the keynote to Obama’s message. We want change. We don’t want the old DOUBLE standard that seems to infiltrate the hearts and minds of our representatives and Washington functionaries. We don’t want the morally suspect decision-making process that characterizes normal Washington activity. We don’t want “business as usual.” We don’t want “government by crisis,” when checks and balances (common sense) are put aside in the name of expediency. We want integrity back in government. Rewarding bad behavior in anyone (no matter how wealthy or knowledgeable) is the kind of activity we wanted Obama’s CHANGE to change.
Now another Obama nominee, Daschle, didn’t pay his taxes. This is the third person “too important to pay taxes” that Obama has put up. Where is the CHANGE we were promised. This is the old boy network again. Geithner, the new head of the IRS, was confirmed after deliberately avoiding his tax obligations. What does this say about our Congress? Obama continues to ignore breeches of character. Perhaps Congress people think it is OK not to pay because they don’t pay either.
Do any Washington elites pay taxes? Why am I paying taxes this month?