There are a lot of senior citizens in the US now. The number is increasing by 10,000 every day as Baby Boomers turn 65—and start applying for Medicare and then shortly after that, for Social Security. These are the folks who once thought this would be the “Golden Years” when their years of hard work and savings and pension plans would let them live the good life, in places that are sunny and warm.
Then came the financial crisis and the stock market crash, the recession, and the “non-recovery.” Whatever “nest egg” they thought they had suddenly was mostly gone. Panicked, they sold their portfolio of securities on the way down, and then fearful of what came next, they didn’t buy back in on the way up. Thus they missed out on the stock market growth over the past 18-24 months. They are left with a much smaller “nest egg,” or none at all, and their pensions are either broke or being discontinued too.
As bad as that sounds, it’s not the “worst news.” The “worst news” is that President Barack Obama plans and policies constitute a multi-faceted “sneak attack on seniors.” Obama cleverly conceals this “sneak attack” while he assures seniors citizens he’s going to take care of them—and “nothing will change” for them. Nonsense!
Consider these actions, all planned or already created by Barack Obama and his minions:
1. Depress Interest Income: Interest rates have been held unnaturally low (by the Fed) for a very, very long time. Thus any money that senior citizens have in safe places like savings accounts, money market funds, and even most bonds, earns very, very little interest—between 0.3% and 2%.
2. Draining Remaining Social Security Funds: In his desire to show some economic growth and “buy votes” Obama created the “Payroll Tax Holiday,” which was supposed to be for a short time—like 6 months—because reducing the employee’s portion of payroll taxes by 2% takes that money directly out of what is used to fund Social Security. And now he has “gallantly” decided to do it again—for a year this time. This further drains a Social Security System which the president has refused to “fix and fund,” and continues to ignore as it becomes more and more insolvent.
But that’s not all. There’s more. Of course these are all part of the President’s grand plan to keep the (lukewarm) recovery going artificially until he can be reelected to a second term.
3. Dry Up Dividends, Gut Capital Gains: Obama’s latest tax proposal includes doubling the tax rate on dividends and capital gains, which is his way of paying for the irresponsible spending that is creating $5 trillion in deficits just four years. Every year Obama has been in office spending has exceeded revenue by more than a trillion dollars. The only way to over that is with tax increases, and while he talks about taxing the rich—a part of the taxes involved doubling the tax rate on dividends and capital gains. These two of the primary sources of retirement income for seniors, will be taxed more heavily and thus less desirable for companies to pay dividends.
4. New Taxes Hidden in Obamacare: There are hidden surprises in Obamacare—the massive health care bill that was supposed to fix everything—but doesn’t. The most notable one is a 3.8% tax on “unearned income,” which includes dividends, interest, and proceeds from the sale of a home (which many seniors are downsizing, and would use as a source of assets for retirement income.
5. Reduced Funding in Medicare and Rationing Health Care: This one might help seniors by shortening the time they’d have to endure the others, because part of the economic justification of Obamacare was to cut Medicare benefits by $500 billion over a period of years. How? By rationing health care—and refusing to pay for medical expenses incurred by people whose lives were nearing the end anyway. Medicare is already insolvent, and President Obama has not done anything to try fixing it—except take more money away from it.
After all, it doesn’t make sense to spend a lot on medical needs for really old people does it? Not to Barack OBAMA and his minions it doesn’t. They will do a “cost benefit analysis,” and if the medical costs are too high, their appointed commissioners will simply refuse to pay the benefits and let the older, more infirm senior citizens die (sooner). After all, seniors incur more than70% of their lifetime health care expenses in the last few years of their lives.
What the heck, Obama’s got a plan for everything. Save on interest rates, collect more taxes, depress dividend payments and capital gains, and sneak a few more hidden taxes in the 2000+-page Obamacare bill. If rationing health care reduces the number of people who live long enough to need that extra retirement income, it doesn’t matter that the first four steps in the Obama Economic Plan cuts the income of seniors so much their lives wouldn’t be very pleasant anyway.
To top things off, Obama keeps wasting money on high risk “green energy” projects like Solyndra, meanwhile blocking oil and gas exploration, stopping drilling and development of delivery projects like the Keystone pipeline. So what if America sends billions over to the Middle East for oil? So what if the cost of gas goes over $5/gallon. Seniors on reduced fixed incomes, with untreated medial conditions (under rationing) don’t need to be driving around anyway.
What a wonderful country full of HOPE and CHANGE that Barack Obama has planned for us senior citizens. Now hewants four more years, so he can “finish the job”—or “finish us off”—or both.
I am not making this stuff up. It comes right off the reports about Obama’s plans. You might want to share this with all your senior citizen friends, to make sure they know who and what they will be voting for in 2012.
by John Mariotti Forbes Feb 24, 2012
Obama's "Sneak Attack" on Senior Citizens - Forbes
Saturday, April 14, 2012
Monday, January 16, 2012
Locking in Your Legacy by Chris Widener
If you are going to leave a legacy that impacts people, there is something that you are going to have to come to grips with:
You are going to die.
What? What kind of motivational tool is that, Chris? Real inspiring!
Actually, it is. Our mortality may perhaps be the ultimate inspiration and motivation! If we lived on this earth eternally, we could be procrastinators extraordinaire! We would never have to get anything done because there would always be tomorrow. But alas, we pass on and all we leave are the memories and the lives of others we affected while we were here. Sounds gloomy? In actuality, it is exciting! You see, this gives us purpose—and a deadline (pun intended).
We can choose how we will live on in the hearts and memories of others. We do this by purposing to live NOW in a way that makes change happen not only within us but also those around us.
What kind of legacy will you leave? How will your family and friends remember you? How will you leave your descendants in the following areas? Give some thought to them and make some changes. In doing so, you will begin to lock in your legacy.
Below are some subject areas that that I hope will cause you to think—really think—about how you can leave a legacy.
Emotionally
Have you ever stepped back and asked yourself how you treat other people and how that affects them emotionally? I have four children. I am acutely aware that they are being shaped emotionally by how I treat them and teach them how to deal with the world. I am especially aware of this from my own background. I can directly trace my emotional shortcomings to the emotional coolness I felt from my own family. Are you raising emotionally healthy kids who are both independent as well as interdependent? Are you helping your spouse to grow emotionally? Give this some serious thought.
Spiritually
In my mind, the "God" question is the most important. You know, I often hear people say that they are just going to let their kids "figure it out on their own." These same people will show them how to shoot a basketball, trade stocks, and build a tree house, all simply temporal issues, but then leave the answers to the most important question up in the air! Now I am not advocating cramming anything down their throats, just taking the time to help them find their way. Are you helping and encouraging those around you to find their spiritual life? Are you living an authentic spiritual life that will be your legacy? Give some serious thought to this.
Physically
Now I know what you are thinking: I can't change my genes. We got what we got and we have to live with it. To a certain extent this is true. I am 5 foot 11 inches tall for the rest of my life. I will never be 6 foot, and neither will my kids. What I am talking about though, is to be examples of taking our physical health seriously. The statistics prove that whatever bad habits you have, your kids are likely to do them as well. Why? Because you are their example. This is why I work to stay physically fit. I work out. I lift weights. I eat right (most of the time—I am a sucker for Breyer's Vanilla Bean Ice Cream). I don't smoke. I want to leave a legacy of good health for my kids. True, they can still go astray, but I will do my best to give them a good example to follow. Give this some serious thought.
Financially
There are two primary ways you can leave a financial legacy. First, teach your loved ones about how to handle money (some of you may first need to learn yourself). There are just so many good books on the subject that there is no reason for not knowing how to handle money. "Rich Dad, Poor Dad" is a good book to start with, or perhaps "The Millionaire Next Door." These will teach you the basics. Secondly, you can leave an inheritance. Now let me be clear on this. This does not have to be after you die. In fact, the more you have, the more I believe you ought to give away while you are alive. Let's face it, the older you get, the less need you have for money once the basics are taken care of. It always cracks me up that by the time you can afford a big house, your kids are gone and you don't need one! Turn the money over early so you can watch the joy of your loved ones spending, investing and giving it! This is of course predicated upon the assumption that you have first taught them how to handle it. If you have, then you should give it away while you're alive so you can enjoy seeing your legacy in action! Give your financial inheritance some serious thought.
Relationally
What kind of legacy will you leave in regard to how you interact relationally with people you know? When people look at how you interact with others, will they be better off if they develop the same relational habits? Will your legacy be one of love, patience, kindness, faithfulness, gentleness and forgiveness? Give the idea of influencing others relationally some serious thought.
Intellectually
I don't know about you, but I want to challenge people to deeper intellectual thought. In a day and age of "People Magazine" mentalities, we need people who will challenge us to think deeper. Are you doing anything that will challenge your sphere of influence to intellectual gains? Will those left after you are gone say that you made them think in ways they hadn't before? That you challenged them to be smarter? Give this issue some serious thought.
Functionally
Functionally? Yep. It's a catchall word. It is how you function. How will those you influence actually function? This is to a great degree how you function. Are you well-rounded? Are you balanced? Do you keep the main things the main things? Is your life functioning well? Make it your goal to live a balanced, functional life so you can leave a legacy of such. Give your life function some serious thought.
I ended each paragraph with a challenge to think seriously about each. These aren't issues we will solve immediately. They take a lifetime to build and they will ebb and flow. But as you diligently pursue staying on top of them, you will be locking in that legacy you desire to leave behind!
You are going to die.
What? What kind of motivational tool is that, Chris? Real inspiring!
Actually, it is. Our mortality may perhaps be the ultimate inspiration and motivation! If we lived on this earth eternally, we could be procrastinators extraordinaire! We would never have to get anything done because there would always be tomorrow. But alas, we pass on and all we leave are the memories and the lives of others we affected while we were here. Sounds gloomy? In actuality, it is exciting! You see, this gives us purpose—and a deadline (pun intended).
We can choose how we will live on in the hearts and memories of others. We do this by purposing to live NOW in a way that makes change happen not only within us but also those around us.
What kind of legacy will you leave? How will your family and friends remember you? How will you leave your descendants in the following areas? Give some thought to them and make some changes. In doing so, you will begin to lock in your legacy.
Below are some subject areas that that I hope will cause you to think—really think—about how you can leave a legacy.
Emotionally
Have you ever stepped back and asked yourself how you treat other people and how that affects them emotionally? I have four children. I am acutely aware that they are being shaped emotionally by how I treat them and teach them how to deal with the world. I am especially aware of this from my own background. I can directly trace my emotional shortcomings to the emotional coolness I felt from my own family. Are you raising emotionally healthy kids who are both independent as well as interdependent? Are you helping your spouse to grow emotionally? Give this some serious thought.
Spiritually
In my mind, the "God" question is the most important. You know, I often hear people say that they are just going to let their kids "figure it out on their own." These same people will show them how to shoot a basketball, trade stocks, and build a tree house, all simply temporal issues, but then leave the answers to the most important question up in the air! Now I am not advocating cramming anything down their throats, just taking the time to help them find their way. Are you helping and encouraging those around you to find their spiritual life? Are you living an authentic spiritual life that will be your legacy? Give some serious thought to this.
Physically
Now I know what you are thinking: I can't change my genes. We got what we got and we have to live with it. To a certain extent this is true. I am 5 foot 11 inches tall for the rest of my life. I will never be 6 foot, and neither will my kids. What I am talking about though, is to be examples of taking our physical health seriously. The statistics prove that whatever bad habits you have, your kids are likely to do them as well. Why? Because you are their example. This is why I work to stay physically fit. I work out. I lift weights. I eat right (most of the time—I am a sucker for Breyer's Vanilla Bean Ice Cream). I don't smoke. I want to leave a legacy of good health for my kids. True, they can still go astray, but I will do my best to give them a good example to follow. Give this some serious thought.
Financially
There are two primary ways you can leave a financial legacy. First, teach your loved ones about how to handle money (some of you may first need to learn yourself). There are just so many good books on the subject that there is no reason for not knowing how to handle money. "Rich Dad, Poor Dad" is a good book to start with, or perhaps "The Millionaire Next Door." These will teach you the basics. Secondly, you can leave an inheritance. Now let me be clear on this. This does not have to be after you die. In fact, the more you have, the more I believe you ought to give away while you are alive. Let's face it, the older you get, the less need you have for money once the basics are taken care of. It always cracks me up that by the time you can afford a big house, your kids are gone and you don't need one! Turn the money over early so you can watch the joy of your loved ones spending, investing and giving it! This is of course predicated upon the assumption that you have first taught them how to handle it. If you have, then you should give it away while you're alive so you can enjoy seeing your legacy in action! Give your financial inheritance some serious thought.
Relationally
What kind of legacy will you leave in regard to how you interact relationally with people you know? When people look at how you interact with others, will they be better off if they develop the same relational habits? Will your legacy be one of love, patience, kindness, faithfulness, gentleness and forgiveness? Give the idea of influencing others relationally some serious thought.
Intellectually
I don't know about you, but I want to challenge people to deeper intellectual thought. In a day and age of "People Magazine" mentalities, we need people who will challenge us to think deeper. Are you doing anything that will challenge your sphere of influence to intellectual gains? Will those left after you are gone say that you made them think in ways they hadn't before? That you challenged them to be smarter? Give this issue some serious thought.
Functionally
Functionally? Yep. It's a catchall word. It is how you function. How will those you influence actually function? This is to a great degree how you function. Are you well-rounded? Are you balanced? Do you keep the main things the main things? Is your life functioning well? Make it your goal to live a balanced, functional life so you can leave a legacy of such. Give your life function some serious thought.
I ended each paragraph with a challenge to think seriously about each. These aren't issues we will solve immediately. They take a lifetime to build and they will ebb and flow. But as you diligently pursue staying on top of them, you will be locking in that legacy you desire to leave behind!
Locking in Your Legacy by Chris Widener
Sunday, November 6, 2011
Tuesday, October 25, 2011
Saturday, October 8, 2011
Sunday, August 7, 2011
Danny's Car Wash owner files Ch. 11
Car-wash mogul Daniel "Danny" Hendon, founder of Danny's Family Companies and dozens of other local businesses, has filed for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code.
Hendon's personal-bankruptcy petition, filed July 25 in U.S. Bankruptcy Court for the District of Arizona, claims about $317 million in debts.
Among them is a $150 million claim by the state of Arizona, labeled "piercing corporate veil allegation." It refers to a state law that says individuals can be held personally liable for some corporate obligations if they fail to follow certain rules.
Hendon's bankruptcy attorney, Mark J. Giunta of Phoenix, did not respond to messages left this week with his answering service.
Phoenix attorneys Bryan Murphy and Andrew Abraham, representing the state in the bankruptcy case, were out of town early this week and could not be reached for comment.
In addition to the state's claim, Hendon's petition lists about $108 million in business debts for which he had made personal guarantees of repayment.
Hendon's "secured" debts, generally the first to be paid back in a bankruptcy proceeding, total about $20 million, according to the documents. They include $7.4 million on Hendon's home in Paradise Valley and $12.8 million on his home in Corona del Mar, Calif.
His personal net worth is $10.5 million, based on equity in the two homes, according to the bankruptcy documents.
Debtors filing for Chapter 11 reorganization usually are attempting to restructure debt without being forced to liquidate all assets.
The bankruptcy case of Hendon, a well-known entrepreneur and Arizona native who owns car washes and other businesses throughout the Valley, has been merged with 24 other Chapter 11 reorganization efforts filed by various Hendon-owned companies, most of them in the first quarter of 2010.
He also has been a key figure, along with business partner Bob Banovac, in efforts to expand Glendale's sports-and-entertainment district.
Hendon is listed in Arizona Corporation Commission records as the legal representative for nearly 90 separate companies.
Those companies, including car washes, retail stores, aviation-related businesses and restaurants, currently employ hundreds of Arizonans.
The bankruptcy filing does not specify what impact, if any, Hendon's debt-restructuring efforts might have on workers.
According to the Chapter 11 documents, Hendon's annual gross income is $441,600, for which no income-tax deductions are listed.
Hendon's primary expenses include $19,000 a month for payments on his two multimillion-dollar homes. He also is required to pay his wife, Kelly Hendon, about $4,800 a week based on a prenuptial agreement.
Other unsecured debts listed in the bankruptcy include about $8.7 million in legal settlements and judgments.
The Chapter 11 documents note that 20 additional civil lawsuits are pending against him, most of them in Maricopa County Superior Court and Orange County (Calif.) Superior Court.
Hendon's bankruptcy petition also lists $89,000 in credit-card debt.
by J. Craig Anderson The Arizona Republic Aug. 3, 2011 12:00 AM
Danny's Car Wash owner files Ch. 11
Hendon's personal-bankruptcy petition, filed July 25 in U.S. Bankruptcy Court for the District of Arizona, claims about $317 million in debts.
Among them is a $150 million claim by the state of Arizona, labeled "piercing corporate veil allegation." It refers to a state law that says individuals can be held personally liable for some corporate obligations if they fail to follow certain rules.
Hendon's bankruptcy attorney, Mark J. Giunta of Phoenix, did not respond to messages left this week with his answering service.
Phoenix attorneys Bryan Murphy and Andrew Abraham, representing the state in the bankruptcy case, were out of town early this week and could not be reached for comment.
In addition to the state's claim, Hendon's petition lists about $108 million in business debts for which he had made personal guarantees of repayment.
Hendon's "secured" debts, generally the first to be paid back in a bankruptcy proceeding, total about $20 million, according to the documents. They include $7.4 million on Hendon's home in Paradise Valley and $12.8 million on his home in Corona del Mar, Calif.
His personal net worth is $10.5 million, based on equity in the two homes, according to the bankruptcy documents.
Debtors filing for Chapter 11 reorganization usually are attempting to restructure debt without being forced to liquidate all assets.
The bankruptcy case of Hendon, a well-known entrepreneur and Arizona native who owns car washes and other businesses throughout the Valley, has been merged with 24 other Chapter 11 reorganization efforts filed by various Hendon-owned companies, most of them in the first quarter of 2010.
He also has been a key figure, along with business partner Bob Banovac, in efforts to expand Glendale's sports-and-entertainment district.
Hendon is listed in Arizona Corporation Commission records as the legal representative for nearly 90 separate companies.
Those companies, including car washes, retail stores, aviation-related businesses and restaurants, currently employ hundreds of Arizonans.
The bankruptcy filing does not specify what impact, if any, Hendon's debt-restructuring efforts might have on workers.
According to the Chapter 11 documents, Hendon's annual gross income is $441,600, for which no income-tax deductions are listed.
Hendon's primary expenses include $19,000 a month for payments on his two multimillion-dollar homes. He also is required to pay his wife, Kelly Hendon, about $4,800 a week based on a prenuptial agreement.
Other unsecured debts listed in the bankruptcy include about $8.7 million in legal settlements and judgments.
The Chapter 11 documents note that 20 additional civil lawsuits are pending against him, most of them in Maricopa County Superior Court and Orange County (Calif.) Superior Court.
Hendon's bankruptcy petition also lists $89,000 in credit-card debt.
by J. Craig Anderson The Arizona Republic Aug. 3, 2011 12:00 AM
Danny's Car Wash owner files Ch. 11
QR Codes Used To Illustrate Fashion Icons [PICS]
Artist Yiying Lu’s most familiar work is probably the infamousTwitter fail whale. And now her techie repertoire includes illustrations of famous faces in fashion that incorporate QR codes.
Lu’s 10 illustrations in Meets Obsession magazine’s “10 Most Intriguing in Fashion” feature are out now, and they include Anna Della Russo, Dov Charney, Terry Richardson, Chloe Sevigny, Sarah Burton and others. When readers scan the codes in the magazine, they’re directed to Lu’s site where they can download the free artwork to iPhones or iPads.
“I am personally obsessed with the interplay between art and technology, and between digital content and real world content, and this project brings this all together in an innovative and interactive way,” Lu told Mashablelast month.
We got a sneak peek of some of the illustrations in July, and now here are a few more from the collection:
by Emily Banks Mashable Aug 7, 2011
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