The Definition of Chutzpah: Obama Administration Tax Cheats Cracking Down on Tax Evasion!

The Obama Administration’s new campaign against “tax cheats” is particularly rich given that the ostensible head of the Internal Revenue Service – Secretary of Treasury Timothy Geithner – is himself a dyed in the wool, proven tax cheat himself! Geithner only ended up paying tens of thousands of dollars in back taxes – on foreign income he didn’t bother reporting – only when he was nominated to be Secretary of the Treasury.

Like most Democrats, Geithner believes only OTHER PEOPLE should pay the sky-high taxes that he wants to impose on the country.

Nor is he the only proven tax cheat in the Obama Administration or among the tax-happy Democrats in Congress.

“Hundreds of billions of dollars in taxes are owed to the government each year but are not being collected,” said Representative Charles B. Rangel, Democrat from New York’s Harlem district and chairman of the House Ways and Means Committee, himself investigated for criminal tax evasion. “It’s like somebody saying, you’re in the will, but you’re not going to get the money anyway. We’re still going to go after it.”

President Barack Obama’s nominee to be U.S. Trade Representative was forced to agree to pay nearly $10,000 in back taxes after a Senate panel vetting his nomination questioned him about his filings.

It does not appear that the revelation will damage Kirk’s nomination, which is scheduled to be the subject of a Monday hearing before the Senate Finance Committee.

Committee chairman Max Baucus (D-Mont.) issued a statement expressing support for Kirk, calling him “the right person for this job and I will work to move his nomination quickly.”

A former Dallas mayor who has been working as a lawyer and lobbyist, Kirk is the fourth administration appointee to be called out for tax problems.

In a report, the Senate Finance Committee noted that Kirk failed to report $37,750 in honoraria as income from 2004 through 2007, because he donated the speaking fees directly to Austin College in Sherman, Texas, his alma mater, to create a scholarship fund.

And, that makes three. It’s unclear how serious “Chief Performance Officer” Nancy Killefer’s problems with the IRS are. She may have been pushed to withdraw given the aggregate public relations hit the Obama administration is taking due the revelation that NO DEMOCRATS PAY THEIR TAXES.

When Obama announced the newly created post— part of OMB— to much ado, the administration envisioned her job as one that would “help put us on a path to fiscal discipline” by making government more efficient.

“We can no longer afford to sustain the old ways when we know there are new and more efficient ways of getting the job done,” Obama told a news conference just hours after new official projections put the fiscal 2009 U.S. budget deficit at a record $1.186 trillion.
Well, government would certainly have to be more efficient if we all paid our taxes like Democrats do.
Chuck Todd posits that Killefer is withdrawing her nomination because her close work with the IRS as a Clinton administration assistant Treasury secretary, dictates a zero-tolerance policy on taxes. But if that’s the case, wouldn’t the guy who is supposed to run the Treasury Department be subject to the same rule?

Add Al Franken and Charlie Rangel to the count, and you’ve got a veritable all-star team of tax cheats. These people are the Ted Haggards of taxes, and they should be pilloried in much the same way. They preach about “shared sacrifice” and the patriotism of paying taxes, and yet they conveniently forget about to pay taxes on their chauffeur services, international properties, and entire jobs when calculating their own sacrifices.

I doubt Killefer will be the last one to pay for her tax sins. Even the NYT is not defending Tom Daschle:
In both the Geithner and Daschle cases, the failure to pay taxes is attributed to unintentional oversights. But Mr. Daschle is one oversight case too many. The American tax system depends heavily on voluntary compliance. It would send a terrible message to the public if we ignore the failure of yet another high-level nominee to comply with the tax laws…

Mr. Daschle is another in a long line of politicians who move cozily between government and industry. We don’t know that his industry ties would influence his judgments on health issues, but they could potentially throw a cloud over health care reform. Mr. Daschle could clear the atmosphere by withdrawing his name.

Nor should they be defending him. The NYT, Daschle, and the entire Obama administration is proposing to bring the American people a trillion in economic “stimulus,” much of which is made up of spending on their pet projects. Those pet projects will be funded by those Americans who do pay their taxes, and may very well be paying more in taxes under an Obama administration.

Democrats’ Secret Plan to Nationalize Retirement Accounts Causing Quite a Stir!

Well, as more becomes known about the Democrats’ secret plan to “nationalize” Americans’ private retirement accounts, the reaction has been swift — and overwhelmingly negative.  An editorial in yesterday’s Pittsburgh Tribune-Review shows that the mainstream media is FINALLY paying attention to the more extreme proposals the Democrats, flush with their recent victory, are making.

A social insecurity scheme by Teresa Ghilarducci, a professor at the New School for Social Research, to eliminate the preferential tax treatment of 401(k) accounts will rob from the people and kill their dreams for a secure retirement.

House Democrats recently invited Ms. Ghilarducci to testify before a subcommittee on her idea to spread the wealth around by having workers transfer their money into government-created “guaranteed retirement accounts.”

The government would promise to deposit $600 (inflation indexed) annually into the GRAs. Each worker also would be forced to save 5 percent of his pay for the account. The government would supposedly pay a whopping 3 percent return. But workers would be able to pass on only half of their account balances to their heirs.

As we reported a few days ago, the idea of “Guaranteed Retirement Accounts” (GRAs) is gaining traction among the far leftwing of the Democratic Party — largely because Democrats see a window of opportunity with the recent crash in the stock market. In exchange for “guaranteeing” a measly 3% return over inflation — at least temporarily — they would gain access to literally TRILLIONS of dollars sitting in Americans’ SEPs, IRAs, Keoghs and 401 (k) accounts. The plan calls for “pooling” the money into a vast fund to be administered by the Social Security Administration.

The truth is, the government is broke — and sovereign funds and foreign governments are increasingly less interested in loaning the U.S. government more money to cover its deficit spending. As a result, the Feds are eying the only large pool of money left in the U.S. — the retirement savings of babyboomers!


There is all this CASH just sitting there — and the Feds can’t even TAX it because it’s in tax-deferred accounts. THEY WANT THAT MONEY! If they eliminate the tax-deductibility of IRAs and 401 (k) accounts, and “convert” the cash into GRAs, then Social Security and its subsidiaries can “administer” all that money.

We’re not the only ones paranoid about what left-wing Democrats secretly want to do with our retirement money. As the Pittsburgh Tribune-Review puts it:

Why trust a government that’s incapable of bailing itself out?

If anyone is foolish enough to consider such madness — even House Democrats feeling their oats after their successes on Election Day — look at the economic chaos caused in Argentina when President Cristina Kirchner said her government would seize private retirement accounts.

Confiscating American workers’ retirement accounts to create Social Security Lite is an abomination that, if it ever gets traction on Capitol Hill, must be considered dead on arrival.

Our sentiments exactly!

Top Retirement Video of the Day!

Dow Breaks Record of 1929 Crash and Closes Week Down 18.1%!

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The Dow closed down 18.1% for the week — the greatest one-week wipeout in history!

It’s actually worse than the Great Crash of Black Monday, October 28, 1929, when the Dow closed the week “only” down 14.4%.

It’s worse than the 1987 crash when the Dow, after plunging 22% in a single day, closed the week down 13.1%. In the past 12 months, the Dow has lost 40% of its value while the S&P 500 has lost 42.5%. Markets in Asia, Europe and the Middle East are losing just as much, if not more.

The last time the S&P 500 crashed like this, in the aftermath of 9/11, it took FIVE YEARS to finally recover and only with the help of $400 trillion worth of bank-created derivatives.

That money is now gone forever and will never be created again.

We’re now back to where we were a decade ago – only this time, we’re facing MASSIVE government debts… two unresolved wars… a sinking global economy… a global banking system that is collapsing… and the likelihood of a president with ZERO financial or executive experience.


The market will come back. Historically, it always has. But we’re in for a prolonged period of economic uncertainty. Early retirees should use their “off the grid” skills to simplify their lives, relocate to less expensive areas (preferably outside the U.S.) and buckle down.

Retire Early with Careful Planning, Good Advice

It’s no wonder that people in their mid-50s and early sixties are streaming into the offices of financial planners for advice: Many are facing the prospect of early retirement due to a buyout or layoff in an economy that continues shedding jobs.

In the case of many baby boomers, early retirement is the goal.

It doesn’t have to be painful, but it is essential to strategize so there is enough income to maintain a decent lifestyle for at least a few decades, say two local financial advisers.

Examining how one’s retirement income is invested should be one of the first orders of business, and for most people, that means looking over IRAs to make sure funds are distributed in a way that jibes with their tolerance for risk. Read more

Mike Filsaime’s Butterfly Marketing Can Generate Instant Money Streams

I attended Rich Schefren’s Strategic Profits Internet marketing seminar last Feburary in Orlando, Florida. The speakers were awesome — particularly Gary Vanyerchuk of winelibrary.tv and the infamous Frank Kern of “Mass Control” fame. But of all the speakers, the one who actually presented the most practical, “actionable,” money-making ideas, technqiues and strategies was Mike Filsaime.

Filsaime is the godfather of viral marketing in the U.S. Three years ago, he was selling cars on someone else’s lot. Today, his Internet Marketing business is grossing well over $8 million a year.

Rich Schefren, the organizer of the conference, also told me personally that, if he had to buy one program to get started making money on the Internet, it would be Mike’s. I was glad I attended this year’s conference because Mike also announced that he would no longer be speaking in public. The lectures he gave at this past conference in Orlando was his swan song, he said.

So, if you want to get started in Internet marketing, I would check out Mike Filsaime’s butterfly viral marketing system and see how he uses it to make money online. The proof is in the pudding, as they say.

Instant Health Business Online

If you want to quit the rat race and retire early, you need one of two things: (1) Either a nest egg of sufficient size to support you without working… OR… alternatively… (2) a great work-at-home business that will let you live the early retirement lifestyle without having to schlep yourself into a job everyday.

Not being born rich, I chose the latter course… and retired at age 35. I haven’t worked at a regular job since December 1989. Yet I live at the beach, in a multi-million-dollar home, and enjoy everything that life has to offer.

These days, the easiest way to make money at home is with a home-based web information business. And of all the different types of web-based businesses, perhaps the easiest to launch and the most profitable are those selling health information products. Health is the #1 search topic for the web — not porn, not get-rich-quick schemes, but health. People use the web today to research and find solutions for their health problems.

And that’s why I’m so excited about this new program developed by Dr. Suzanne Gundakunst. Her “Health Biz in a Box” system is amazing. Not only does she provide you with a state-of-the-art website, but she even provides an online model who can communicate with your customers directly. It’s amazing video technology — and may be the easiest, simplest way to get started with online health marketing that I’ve ever seen.

So, check out Dr. Gundakunst website.  She’ll show you how you can get an instant online health business and start making money online right away.  Anyone who wants to quit the rat race and retire early should at least hear what she has to say.

Studies Find Aerobic Fitness Equals Independence in Later Years

The folks at Cenegenics have taken a hard look at the benefits of aerobic fitness for people in their 60s, 70s and 80s. They’ve reviewed recent medical studies and concluded that, yes, aerobic fitness matters – particularly if you want to live independently in later years. Not only that, but the recent studies show that overall mortality is cut by as much as 70% among the “highly fit” elderly.

In fact, a significant study of more than 15,000 veterans whose average age was 60, published in the January 2008 Circulation (a journal of the American Heart Association), found that men who were “highly fit” had a 50% - 70% lower mortality risk than their “low-fit” counterparts.

Lead author on the study Peter Kokkinos even stated that to attain the associated health benefits, it only takes “moderate levels of physical activity like 30 minutes a day, five days a week of brisk walking.”

But it’s also well documented that maximal oxygen intake decreases between 20 to 60 years old and is projected to deteriorate at a similar rate into retirement. The faculty of Physical Education and Health and Department of Health of Public Health Sciences along with the faculty of medicine at the University of Toronto, (Ontario, Canada) examined the “likelihood that a deterioration of aerobic fitness will lead to a loss of independence in old age.”

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Run Your Car on WATER and Double Your Gas Mileage!

May 29, 2008 by Thomas Jones  
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When I first heard about this story, I was frankly skeptical: Run your car on WATER? Come on.

But when I looked into it, I was intrigued. Apparently, inventors in New Zealand claim to have discovered how to extract hydrogen from ordinary tap water “on the fly,” you might say. This hydrogen (technically, hydrogen and oxygen) gas is then mixed with gasoline to provide enormous increases in gas mileage.

Supposedly, this new technology — which can be done with most cars — is available right now, can be installed at very little cost, and can save ordinary people (particularly retirees) hundreds, even thousands of dollars off their gasoline bills.

You can get plans to convert your car on the Internet. Conversion kits themselves cost up to $600… and I’ve seen conversion plans for as high as $300. But I found a simple, step-by-step conversion plan for just under fifty bucks. You can check it out by clicking here.

There are also some amazing free videos you should watch.

Again, this new technology doesn’t run ENTIRELY on water. What promoters claim is that it uses your car’s battery to convert ordinary water into hydroxy gas which, when combined with the gasoline in your tank, can nearly DOUBLE your mileage. The net effect can be to slash your gasoline bills in half.

So, check it out. With the price of gasoline now topping USD $4.00 per gallon, this technology could revolutionize automobile travel. If it works, it would be a great way to stick it to the oil companies and the Arabs who are making BILLIONS on record-high oil prices while ordinary people, particularly retirees, pay through the nose.

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Poem for a Retirement

May 25, 2008 by  
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A Retirement Poem

Fear no more the heat o’ th’ sun,

Nor the furious winter’s rages.

Thou thy worldly task hast done,

Home art gone and ta’en thy wages.

— William Shakespeare

A Poem for a retirement

To walk down a path

where great men have

been is an honour itself,

for a few privileged men.

But to blaze one’s own trail

unequalled to thee;

Is a tribute to greatness

that few men shall see.

— Anonymous

Irish Retirement Blessing

May you always have work
for your hands to do.

May your pockets hold
always a coin or two.

May the sun shine bright
on your windowpane.

May the rainbow be certain
to follow each rain.

May the hand of a friend
always be near you.

And may God fill your heart
with gladness to cheer you.

Retirement from Tennyson’s Ulysses

Come, my friends,
‘Tis not too late to seek a newer world.
Push off, and sitting well in order smite
The sounding furrows; for my purpose holds
To sail beyond the sunset, and the baths
Of all the western stars, until I die.
It may be that the gulfs will wash us down:
It may be we shall touch the Happy Isles,
And see the great Achilles, whom we knew.
Tho’ much is taken, much abides; and tho’
We are not now that strength which in old days
Moved the earth and heaven; that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.

— From Ulysses by Alfred Tennyson

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