Friday, November 13, 2015

Hedge fund owners are robbing our pensions

Our pension money is being wasted on hedge fund owners
The only people getting rich from our pensions are the hedge fund owners! Even though the largest public pension, CALPERS, has dumped these fee hogs, some pensions are gambling more of our money with them. A new report examined the hedge fund performance of 11 large public pensions and found that these investments exacted a high cost, had laggard returns and generally moved in tandem with the overall stock market. This bad performance means $8 billion in lost investment revenue at our funds. Hedge fund managers collected $7.1 billion in fees from us. That averages out to 57 cents of every dollar in net returns earned by the funds. Fees can steal 63% of our nest egg!

Digital companies (Google, Apple, Uber, Amazon, Facebook) shift taxes to us
Many new digital companies make nothing in America, outsource sources and can shift taxes on income to tax-FREE countries. We can’t. For instance, Uber is worth more than Target, operates in 60 countries, yet hides profits from all governments as “royalty fees.” It has non-taxable Ocean income. It pays no tax or benefits for its drivers either. Using intricate legal loopholes and 19th century tax laws, new companies avoid paying their fair share. The tax burden paid by companies—for the Army Navy and Air Force protecting them—has fallen from 27% to 8% since 1955. We pay the income and payroll taxes to pay for their use of our roads, police, military, courts, airports, cell towers, etc, etc.
You can avoid their taxes with a legal IRS tax haven: http://www.amazon.com/Your-Tax-Haven-Tax-FREE-Americans/dp/1482659441

 Congress just gave debt collectors your cell phone numbers
The budget law gives new power to debt collectors. They can now robocall your cell. That used to be illegal — but not anymore.
“You can only imagine what the debt collectors are going to be like once this door is opened, and they just have the computer calling and calling and calling,” Wayne attorney Michael Forbes says.
Register your phone for no cell calls: https://www.donotcall.gov/register/reg.aspx

Is a real estate investment right for you?
New York City properties are very expensive. Trump says he makes money buying and selling them. Many international elites buy Manhattan addresses. But are they right for you as investment or even as speculation? No! When you compare even the most prized properties, the market index fund is a better place to be. Over a 10-year period, the boring index fund beats New York City's finest condos. In fact over most time periods 10, 20 30 years, a low-cost market index like the 500 Index provides 11% returns. Real estate has slumps and booms but over time, average returns look like the average brokerage client returns of 3.9%. Hedge funds are not good either. Fees matter.

Critical illness insurance?
This is what your employer or agent will say: “many Americans have to choose between survival and bankruptcy when they are diagnosed with a critical illness, even when they have a medical insurance.” ObamaCare requires insurers to cover essential health care without limits unless your plan was “grandfathered” in 2014. Most have lost that status since then so check with your administrator. This insurance plan may cover some of your expenses if the insurer accepts your claims after your comprehensive health care policy pays for the majority of care expenses. Critical illness insurance was popular in countries where coverage had financial limits.
Agents have sold the lucrative cancer insurance as a supplement for years. However, treatments and no-limit plans have reduced the likelihood of financial catastrophe. Few of us understand the actual probability of complete loss from illness so agents can induce sales from fear.
So, as in most contracts, the fine print matters. Most of these plans will give you cash to spend on expenses if the illness qualifies—some more than others. Better alternatives include flex spending and health savings accounts.
Even better is building a Roth IRA yourself or Roth 401K at work. Contributions are deducted from pay just like CI plans. However, you can use the money when you decide—not an insurance clerk—and you don’t lose it if you don’t need it. Tax-FREE.


Does our President need to tell the truth?

Carson: Ben admits his story of poor angry kid was made up. GOP gives him $3.5Mil.
            “Pathological temper” or pathological liar? Classmates can’t remember anger!
Trump: I like Putin in Syria. We are friends bec/ on same ‘60 min’ show!? Look in eye?
            “Our wages are too high. Everything is too high.” His wages: $380 Mil—too high!
            “How stupid are the people of the country to believe this [Carson} crap?"
Christie: I got more money AFTER being kicked off main debate. Running is all I can do             except veto a voting rights bill so GOP can suppress DEMs in NJ.
Rubio: Putin is nothing but a gangster. Nobodies wages should be raised. Except Senate’s
Paul: How is it conservative to add a trillion dollars in military expenditures?
Cruz: 25 programs I would eliminate--corporate welfare, sugar subsidies, etc.
Fiorina: Government uses the tax code to decide winners, and losers.

The GOP Dream Team:
Paul as Prez
Trump as Sec State
Jeb as National Parks head
Rubio as Sec Treasury
Fiorina as Sec Commerce
Christie as Sec Transportation
Kasich as Homeland Security
Huck as Sec Justice
Carson as Surgeon General

GOP religion
Carson thinks Joseph built pyramids. Pyramids built 3,000 years BEFORE he lived.
Michele Bachmann wants to convert Jews to Christianity ahead of the arrival of Jesus. 
GOP Supremes (5 old men) will again try to limit our reproductive rights. Ban sex?
KY gov will stop clerk signatures to protect clerk from Hell on gay licenses?

Are you using all your auto discounts?
Not all insurance companies are alike. Does yours provide discounts for anti-theft devices, hybrid, or club membership? Every time I go shopping for coverage, I find cheaper rates. Insurers go through marketing periods that may benefit you but you must ask. Cancel the extras you don’t need and save $22,000 over time.

GOP Supremes to decide which kids get deported
Obama wanted to grant kids of the undocumented status to stay and work in US. Some states said no and Obama filed for the Supremes to decide. 4.3 million illegal immigrants would be eligible for Obama’s DAPA.

GOP to take health care from 521,000 KY residents? Can they do it?
“I can go home and sleep and wake up in the morning and know that I don’t have to worry about not having insurance,” Wilson said in an interview at the Kynect store after enrolling. If GOP gov Bevin ends Kynect as promised, “they’re going to have a lot of angry people on their hands,” she said.
Bevin is an investment manager and has always had health insurance.


GOP is wrong—We need regulation otherwise “everyone” would cheat!
Agent stole $4.6 million retirement funds but no jail, pays fine, pass go!
RCS Capital caught fraudulently casting shareholder proxy votes for themselves.
Regulators teach stock brokers how to see market manipulation (spoofing).

NRA has taken over Kansas!
Kansas passed a new law allowing concealed firearms for anyone without a permit. A survey says 75 percent of respondents didn’t support the law and only 14% did. Gov Brownback said the law aligns the state with the constitutional right to bear arms without permit. You can't vote, though it's a constitutional right. You still need a permit to vote but not to pack. Every study found no voter fraud.

Average American spending leaves little for extras
We are earning what we earned in the ‘70s when inflation is considered $53,495. Our spending patterns have changed. College and cars went up a lot! Wages went down.

1 hour peddling will power your cottage in the woods and keep you fit
Manoj Bhargava, the guy who made 5 hour caffeine drink, built battery charger for the off-grid world.

Calculating your Social Security benefits and time to retire
Consumer Finance has come up with a guide for learning about your retirement income and your options.

SCAMS
VW will try to buy off fake clean diesel car owners with $500 cash and a chance to buy another VW for $500 credit. VW is being sued by owners since most diesels can’t be driven in states with emission laws. Cost to fix is $2,000 or more and you might not be able to sell the car.

Bobby M. Collins, Wichita Falls, TX, stole $4.6 million from elderly. No Jail TIME. Agreed to pay $733,000 in disgorgement and civil penalties to settle the charges!?

VA gave $142 million in bonuses for screwing veterans
People who did NOT do their job got “performance bonus.” Just like Wall Street firms, bonus pool for executives and political favors rules the workplace. Contractors over budget for $1 BILLION got bonus for bad behavior.

Who owns your account now?
Fidelity & Guaranty Life to Anbang Insurance Group, China


HOW CONGRESS WASTES OUR TAX DOLLARS
            Will House committee spend $4 mil to investigate these 30 killings?
House Benghazi committee cost us more than $4.5 million to make Clinton look bad.

We wasted $2.7 BILLION on those giant blimps that broke free from Washington.
America needs to take care of American’s needs FIRST!
Rebuild America Act: a five-year plan would invest $1 trillion and create or maintain at least 13 million decent-paying jobs—Senate Budget Committee but GOP says no.
Will GOP use taxes to move Alaska town due to global warming they don’t accept?

“We must guard against the militaryindustrial complex.” 1960, Pres Dwight Eisenhower.
Defense spending has DOUBLED in 14 years.
Since 2001, the base defense budget has soared from $287 billion to $530 billion — and             that's NOT counting the Iraq and Afghanistan wars, ISIL, Ukraine, Cameroon. 
US knew US would fail in Vietnam in 1965 but still 1.3 million dead, Kissinger diary.
We just sent “several dozen special operations forces into Syria.” Just like Vietnam.

We are still wasting $8 million per HOUR we don’t have in Syria/Iraq/Afgan/            Ukraine/Cameroon. Obama keeps 9,800 in Afghanistan. Wasted Billions     
            Taliban captures Kunduz, Afghans run. We bomb hospital instead.

We bombed and killed our own Doctors without Borders hospital staff 10/2/15
            We pay bonus for kills – no wonder the world hates us!
             Saudi’s just bombed Doctors Without Borders hospital even with GPS

We are supporting child abuse by Afghan leaders by giving them arms/money.

100,000 our military in Germany and Japan….still. Why? Costs us $200 billion.
Residents of Okinawa object to tens of thousands of U.S. troops and another base there.

Mission Accomplished?
Kerry warned the Islamic State jihadist group its "days are numbered". 

IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
973.746.2014
Alerts 
Posted by at No comments:
Labels: , , , , , , , , , , , , ,

Friday, November 6, 2015

Our 'reps' just gave $17 BILLION kickback to the banks

Our so-called “representatives” gave $17 billions to Wall Street—Wasted tax dollars
All but two Republicans voted for the measure, including all but one member of the hyper-conservative Freedom Caucus, which frequently lambasts the grip of "crony capitalism" in Washington. Only 70 Democrats voted against the measure, mostly members of the Progressive Caucus. Wall Street lobbyists get reward for paying for our “reps” campaigns and perks. It just takes more complicated steps these days. Wall Street has paid $6.7 Billions to maintain these “subsidies.”
Corruption runs Washington despite Teas claim to reduce government (benefits to us)

Wall Street takes $530 billion of our money
Every year, you and I give up $530 billions of our returns to the middle people who claim they can outperform everyone else. Most can't for long and we lose. The average investor earned just 3.79% annually while a market index fund earned 11% over any period for 30 years. Move your money to earn 11% not just 3.79% and retire early. New standard for advisors (do what is right for client rule) could send $1 trillion to passive investment products, according to Morningstar.

Another way the wealthy avoid taxes
The CEO of a drug company retired at age 65. Elected to board of directors at another drug company, he is sold company stock at 86% discount. He gets stock options every year for going to board meetings. His new company has seen a 16,000 percent surge in value in 20 years. His income does not come from wage earnings so he pays no federal or state income taxes, no SS or Medicare taxes, no unemployment or disability taxes, and does need to fund his 401k or health care. Many of his expenses are covered by his company—working vacations, car and airfares, golf memberships, office staff and equipment, etc. He only pays tax when he sells stock he got at a discount. Pay taxes like the wealthy class: http://www.amazon.com/Most-U-S-Corporations-Pay-Taxes/dp/1514274116

We will end up as servants to the top 1%: 116 million to serve 100 people
The retirement savings accumulated by just 100 chief executives are equal to the entire retirement accounts of 41 percent of U.S. families -- or more than 116 million people, a new study finds. Many companies have cut funded pensions or limited matching funds for 401k plans for employees while increasing the benefits to CEOs. Many have authored their own deferred compensation plans that permit them to set aside salaries and bonuses on a pretax basis, with no limits. Later they use preferred tax rates. Some have supplemental executive retirement plans, (multiply years of service by final pay). Retirement plans now stretch to $234.2 million not counting Social Security.

Warren’s bill to raise Social Security benefits – seniors’ expenses rose not flat
Elizabeth Warren wants to give seniors the same pay raise enjoyed by CEOs—and to raise taxes on some executive pay in the process. The liberal senator from Massachusetts is introducing a bill on Thursday to boost Social Security payments for 2016 with a one-time bump in benefits. A $581 increase could cover almost three months of groceries for seniors.

2nd wealthy rancher refuses to pay US 
Defying his legal contract, LaVoy Finicum, Cane Beds, Arizona, told Washington he doesn’t acknowledge BLM. Inspired by the success of rancher Cliven Bundy, Finicum stopped paying fees for using our land and following the boundaries for grazing. Finicum thinks gov has no Constitutional right to manage lands shared by ranchers for grazing.

Advisors forced to “do the right thing” face layoffs
The new “fiduciary” rule means your advisor may have to quit if they can’t find a way to convince you that the high-priced is better than the low-priced fund. There are reasons to use an advisor but good results are not one of them. Low price is the best predictor of good investment returns. Charging you more means your ‘net’ is less. Simple math. Some analysts are predicting $1 trillions will move to low-cost index funds. You can benefit from this change buy moving your funds NOW ahead of the demand. There are only two companies that offer low price funds and only one that Buffett recommends: http://www.amazon.com/Vanguards-Top-Ten-mutual-funds/dp/150073909X

Is a “retirement loan” right for you?
I got a spam message that I did NOT click to learn about a ‘retirement’ loan. There is nothing except a scam here. When you borrow from your retirement fund—401k or other plan, you are creating a death spiral into a financial black hole. Retirement is not the time to pay back a loan. Using money that took you years to accumulate cannot be replaced without more years than you may have left. On average, it takes 10 years of investing $250 a month to earn $40,000 but you must double your savings. Perhaps bankruptcy is a better alternative since you can begin with a “fresh start.” It is not as bad as it once was considered. Promises of making tons of money using your life savings are only appealing to those of us who have become desperate. A fee-only planner may be your safest escape from this situation. An experienced advisor can help you find a way out of your dilemma. https://www.napfa.org/



File-Suspend for Social Security spousal benefit cut by Congress—GOP starter kit
The file-and-suspend strategy in which Spouse A files for retirement benefits and immediately suspends, to allow Spouse B to file for spousal benefits while Spouse A’s retirement benefit continues growing, is eliminated.” You can still use the strategy to change your mind and go back to work and let your benefits accrue at 8%.


GOP to end Social Security and Medicare as we know it
Their starter kit passed this week. The File-Suspend strategy for Social Security spousal benefit was cut by Congress. You can no longer file when you are working past age 67 so that your spouse can claim your benefits when they are out of work. This is the first step to cut Social Security benefits so the rich can keep more. Congress did not require the rich to pay Social Security tax on their income over $118,500 as Medicare does. That would guarantee our SS benefits past 2033.
Every GOP candidate has a plan to cut SS and Medicare. None want to end the $Billions we waste propping up child molesters in Afgan and terrorist funders in the Middle East! None wants to spend a dime on fixing our infrastructure to create jobs here—only there.

GenWorth Slides 45% This Year On LTC Woes
The stock of GE’s old financial arm fell 45% this year as long-term care insurance has taken more of its profits than expected. It is not clear whether the largest LTC insurer can overcome this drain without changing its products. Price increases have driven many to drop their policies and many insurers out of the business

Does our President need to be a good sales person?

            Questions are too hard for GOP because must admit mistakes/explain B.S.
Carson: “Joseph built the pyramids to store grain." Bible-based gov? Stone women?
Sanders: “Socialist programs we like”--Medicare, Medicaid, water, gas, courts, Army
               "We are going to ask the wealthiest people to pay more and raise corporate tax rate.”
Rubio: I will round up immigrants too. “Turning his back on the immigrant community.”

KY gov vows to drop 500,000 from KYnect insurance
GOP promised to end insurance for poor if elected. KY had seen largest drop in uninsureds after AR. Now largest group in US will lose healthcare: Back to emergency rooms for 5 hour wait.

GOP Prez would repeal ObamaCare and return to the days of old
Wealthy use health savings accounts and employer-provided plans and GOP wants these plans only. No gov marketplace nor subsidy so we would need to go to each insurance agent and compare costs/benefits. We would need to read each insurer’s plans to see if our doctor and our meds are covered by co-pay or out of pocket totals. Insurers only want healthy people, so any conditions would be handled by a state pool of last resort. For Medicaid and Medicare, coverage will be changed since we would have a certain amount (voucher) to spend and insurers would decide what and how much we are reimbursed if at all. We would have to research each insurer’s contracts to pick our own plan. Mrs Ted Cruz would lose coverage. 
Congress people have Federal health care so they pick any of 300 plans/premiums. 

Best college savings plans if your state offers no deduction
Rating-firm Morningstar picked these 529 College Savings Plans to use if your state-specific tax benefits don’t apply. Here are the Gold-rated plans for 2015:
Use the balanced funds that cost the least for the best risk/reward returns.



Used car bargains instead of new 2016
According to Kelley Blue Book, the average cost of a new 2015 vehicle is over $33k. Most lose 40% of their value in 3 years so I think it is wise to buy used. I just bought a ’12 Camry with 51K miles and new smell for just $13,000 tax, title, fees. I spent $9 a day for 3.5 years in my Wealth Reserve. 2012 Camry has high reliability and none were recalled so far. Used luxury cars are what the Working Millionaires buy because they know they can make their money grow at 10-12% during those first 3 years instead of losing 10-12% a year. http://www.kbb.com/car-reviews-and-news/top-10/best-cpo-luxury-cars-under-30000-2015/2000012102-8/


GOP is wrong—We need regulation otherwise everyone would cheat!
VW lied about emissions in more vehicles: Touareg, Porsche Audi A6, A7, A8, A8L, Q5.
            These engines spew nitrogen oxide up to 9 times the EPA standard. Our lungs!
Toyota recalls for fire in door, many cars for airbag, Ford for steering bolts, more more 
Chase caught overcharging and collections deception—no jail time—stockholders pay!
Student loan servicers caught allocated payments to maximize their fees like banks!
Mortgage servicers failed to automatically terminate mortgage insurance—refunds due!
Debt collectors caught using illegal tactics—complaints sustained but no jail time. 
Scott Doak, Xenia, Ohio, OVO Wealth Management, caught stealing money in Ponzi. 
No Jail Time--Are fines enough to make them stop cheating us?
           

GOP religion in LA schools
Teaching creationism as science and making Bible readings mandatory is what this school of the right thinks is education in America. Biology teacher says, “didn’t want to teach evolution because she was scared” about controversy. “The health teacher… has had students read Bible passages in class,” she said. At Airline High, a public school in Bossier Parish, Louisiana, they read Bible passages, and their teacher asks them to identify their favorite verses. High school sure has changed since I went!

What do you do with your unreliable car?
Sell or trade in before the repairs or after you lay out $1,000. Original warranty? http://www.brainycars.net/es/136/page2/18-Most-Unreliable-Cars-You-Don't-Want-To-Buy  Warranty is expensive but may save you in the long run. Shop for best deal: http://www.consumeraffairs.com/auto_warranty/



SCAMS
New IRS scam: threatening bodily injury against their victims. State Police say they have two news cases in York and Oxford Counties ME where the IRS scammers are demanding payments and threatening beheading if the victims don't pay up.
"It's bad enough when you're trying to get money from people but when you're threatening bodily harm It's really concerning to everyone here in law enforcement," 

Scott Doak, Xenia, Ohio, OVO Wealth Management, stole money in Ponzi run by William Apostelos Midwest Green Resources. Former doctor will pay fine after stealing $66 million from roughly 350 investors. No Jail Time 

HOW CONGRESS WASTES OUR TAX DOLLARS
            Will House committee spend $4 mil to investigate these 30 killings by our guys?
House Benghazi committee cost us more than $4.5 million to make Clinton look bad.

We wasted $2.7 BILLION on those giant blimps that broke free from Washington.

“We must guard against the militaryindustrial complex.” 1960, Pres Dwight Eisenhower.
Defense spending has DOUBLED in 14 years.
Since 2001, the base defense budget has soared from $287 billion to $530 billion — and             that's NOT counting the Iraq and Afghanistan wars, ISIL, Ukraine, Cameroon. 
US knew US would fail in Vietnam in 1965 but still 1.3 million dead, Kissinger diary.
We just sent “several dozen special operations forces into Syria.” Just like Vietnam.

America needs to take care of American’s needs FIRST!
Rebuild America Act: a five-year plan would invest $1 trillion and create or maintain at least 13 million decent-paying jobs—Senate Budget Committee but GOP says no.
Will GOP use taxes to move Alaska town due to global warming they don’t accept?

We are still wasting $8 million per HOUR we don’t have in Syria/Iraq/Afgan/  Ukraine/Cameroon. Obama keeps 9,800 in Afghanistan        
            Taliban captures Kunduz, Afghans run. We bomb hospital instead.

We bombed and killed our own Doctors without Borders hospital staff 10/2/15
            We pay bonus for kills – no wonder the world hates us!
             Saudi’s just bombed Doctors Without Borders hospital even with GPS

We are supporting child abuse by Afghan leaders by giving them arms/money.

100,000 our military in Germany and Japan….still. Why? Costs us $200 billion.
Residents of Okinawa object to tens of thousands of U.S. troops and another base there.

Who owns your account now?
L.A.'s City National Bank to Royal Bank of Canada. 


IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
973.746.2014
Alerts
Posted by at No comments:
Labels: , , , , , , , , , , , ,
Subscribe to: Posts (Atom)