A Blog Worth Reading...Bridgeway2Success

Streamlining and Simplifying - How Powerful

noreply@blogger.com (Mary) — Mon, 26 Oct 2009 19:44:00 +0000

My attempt to simplify my life and get out from under the weight of the internet and my computer is coming along nicely. And as it does I really am feeling a small burst of "calm" coming back into my life.

Over the last week I have deleted about 15,000 e-mails (yes, you read that right!). So many were un-opened from mailing lists I somehow got on, but never looked at or cared about, but on days I felt most overwhelmed I didn't even take the time to delete them, or more importantly, unsubscribe from them.

So along with deleting I've been unsubscribing and feel certain I can now keep control. There will always be lots of e-mails I retain, but now they are stored in folders so I might even be able to find them when I want them!

I've got a ways to go in order to get rid of the "overwhelmed" feeling - but I am definitely on my way.

When You Know Your Company's Culture is Right-On!

noreply@blogger.com (Mary) — Mon, 19 Oct 2009 20:40:00 +0000

My husband and I started our main business 22 years ago and always tried to make it a place where people enjoyed coming to work and worked together as a team to get the job done. We have always been so proud of how they all pull together when short-handed, or just very busy.

When we decided to move 3,000 miles away and open a branch office in California we gave them three options. We could hire a manager, appoint one of them manager, or they could just continue to work as they always had, as a team who knew what needed to be done.

They chose to just keep it the way it was. It's been 12 years since that day.

I left on Thursday last week for a weekend Mastermind and got home to find the fax you see above that they had sent us on Friday.

I can't begin to tell you how incredible a group of people work with us and how thankful we are that they "get it."

What Do You Want in Your Life?

noreply@blogger.com (Mary) — Thu, 08 Oct 2009 18:39:00 +0000

I just got back from Calgary, Alberta, Canada where I attended an amazing event called Engage Today 2009. Speakers included the Dalai Lama, Sir Richard Branson, Stephen Covey, F.W. De Klerk (released Nelson Mandella from prison), Tony Hsieh (CEO of Zappos shoes), Barbara De Angelis, and a host of others that you may or may not recognize by name.

Each and every speaker was outstanding, bringing huge contributions to the event. I'm still reeling from the amount of information and energy that was condensed into four days.

What I came away with was that, for me, the internet age is overwhelming me. I have let technology become my master. And I am not alone in that. Even speakers at the event talked of how easy it was to get caught up in checking e-mail too often, or following links; basically getting distracted from the important parts of their work and their lives.

My love/hate relationship with computers and the internet and the unlimited amount of information available is evidenced by the amount of time I spend at my computer and the vast amount of information stored in it or printed from it. It feels suffocating, not empowering.

So I am un-subscribing from vast numbers of e-mail lists, looking at what I've printed that I've not read (and maybe never will) and deciding that I will gain control again over my life.

Obviously, I never would have known about this amazing conference had I not been "tuned-in" in some manner on the internet. But selectivity is my new mode of operation. I purposely didn't take or use a computer for the week I was in Calgary and my world didn't fall apart. I spent the hours that I would have been in front of my computer screen at home listening to and interacting with amazing people both on and off the stage.

So to answer my own question, "What Do You Want in Life?" I want to build connections with people, not add random people to my Facebook and Twitter accounts. I want in-person and telephone interactions; I want to "engage today" and every day, with meaningful real-life interactions.

The internet has its place in my life, but it is no longer going to hold me hostage in life. I have regained my footing and will work on balancing my love of information and the abundance of it that the internet provides with the abundance that is gotten from living in the moment with family, friends and fresh air!

Watch Your Credit Card Statements!

noreply@blogger.com (Mary) — Wed, 23 Sep 2009 20:28:00 +0000

It is more important than ever to pay attention to your credit card statments and any correspondence from your credit card companies. Because of new laws affecting credit cards (look for my previous blog post) the banks are getting very aggressive with consumer and business credit card accounts.

Consider this article -

One-Third of Credit Card Holders' Limits Cut

"Credit card companies reduced limits for 58 million cardholders w/ little regard to their credit scores" http://bit.ly/JB2y9

And from American Banker yesterday (a subscription publication):

"Credit card lines nationwide are set to be cut by another $1.5 trillion before the economy bottoms, on top of a $1.2 trillion cut from the peak, the analyst Meredith Whitney predicted Monday.

Unless credit loosens up dramatically for Main Street, small businesses will stymie a recovery, she wrote in a report to clients.

Credit cards are a particular source of concern, as roughly four out of five use them as vital portion of their overall funding, Whitney wrote."

So watch your personal and business credit card statements and correspondence and don't be blind-sided by increasing interest rates, reduction of credit lines or cancellation of accounts and the worst, in my opinion, the increase of the minimum payment percentage.

American Express Putting Credit Limits on Business Cards

noreply@blogger.com (Mary) — Mon, 21 Sep 2009 02:33:00 +0000

My business e-mail inbox just received a nice little note from American Express telling us that they were putting a credit limit on our business card. We have used it extensively for business purchases for over 20 years (as is proudly proclaimed on the front of our card - member since 1989). We've always paid it in full every month, whether it is $3,000 or $15,000.

The only advantages of AMEX over a traditional credit card has always been that we didn't have to worry about bumping into a credit limit with 4 employees enrolled with cards.

But now that advantage is gone, so why in the world would we pay the expensive fees associated with an American Express card? Answer is we won't. They just lost our business.

And the funny thing is they sent me another e-mail at the same time reminding us to use our American Express card for all of our business purchases! Maybe the marketing department should check to see what policy decisions are being made before they create advertising - makes them look a little silly, doesn't it?

Learning Affiliate Marketing For FREE!

noreply@blogger.com (Mary) — Mon, 14 Sep 2009 18:43:00 +0000

Learning to make money as an affiliate for products is a hot topic on the internet. It seems everyone wants to jump on the bandwagon. And there is money to be made, no doubt. But it isn't as easy as some would have you believe.

What's worse is you can lose a lot of money if you don't know what you're doing and go into it blindly. So, if you're interested in this concept, get educated before jumping in.

A couple of years ago at a business seminar I attended someone talked about how "easy" it was to make money on the internet with affiliate marketing. I thought what he outlined made sense and I jumped in and yes I did make a couple of hundred dollars, but I spent a lot more than that to get those few commissions.

I was talking with another person who has taken a much more methodical approach than I did and they are beginning to see some results...but it's taken months and months of work. But they are laying the groundwork for a longer term payoff and I do believe they will ultimately be successful.

Your success will be dependent upon the effort you're willing to put in (like everything in life!). For me I decided it was too much effort given everything else going on in my life, but I learned a LOT about what you need to know and where you can learn it.

I love finding information, especially when it's free! If you're interested in learning Affiliate Marketing and want to do it the right way, this site has everything you need to know and then some - and it's FREE - http://bit.ly/3n688h

And be sure to check out Ed Dale's 30 Day Challenge - http://bit.ly/1cxEy5 - He takes you through all the things you need to know, in a day by day format to create a business on the internet. Again, it's all FREE

Do you ultimately need to spend some money on learning this stuff? Probably - eventually as you get more sophisticated in your approach. But there is so much excellent information being provided for the beginner at no charge - get started with the free stuff before you spend money. And then be selective when you do spend money...don't grab everything that sounds good - it all sounds good!

But remember, it takes work and time to learn it and set it up properly. But done right you can create an income stream that ultimately requires much less of your time and effort.

Tony Hsieh of Zappos

noreply@blogger.com (Mary) — Sat, 12 Sep 2009 18:45:00 +0000

I just watched a video of Tony Hsieh (CEO of Zappos) talking about how he grew Zappos from a small start-up to a billion dollars in sales. Very interesting in that a lot of what he talked about my husband and I also did in growing our company from zero to a multi-million dollar business.

What I took away from this hour was that key principles are always what success comes down to - get those wrong and nothing seems to work.

One of the other things I took away from this video was Tony saying (paraphrasing here) "get out there and meet other business people, and not just those who you can find a business connection with." You never know what a conversation will yield, now or down the road. Or what golden nugget you'll get from someone outside of your industry.

And never stop learning...at the Q&A after Tony's talk Joe Polish stood up to ask a question. Now Joe Polish is an incredibly successful person himself, a person who knows Sir Richard Branson and Bill Clinton and any number of notable people, but here he was at this conference, learning and asking questions.

I'm going to a conference at the end of this month to see the Dalai Lama, Sir Richard Branson, Stephen Covey, Tony Hsieh, Frank Kern, Eben Pagen, and about 20 other notable speakers. http://bit.ly/3clfrr

I watch dozens of business oriented and self-development videos, but I find seeing and hearing people speak in-person is incredibly powerful. But any way you do it, keep on learning and growing.

Scam Warning From the IRS and State Scams

noreply@blogger.com (Mary) — Fri, 11 Sep 2009 16:34:00 +0000

This is a reminder for everyone that the IRS NEVER uses e-mail to correspond with taxpayers. There are scams that use e-mail to make it appear that the IRS is requesting information from you - don't fall for them.

Here's a link to the IRS site that warns about one particular scam that is going around http://bit.ly/FVkIN - but it's not the only one. So spread the word and don't be caught.

And if you're a business owner be aware that there are several regular mail scams that happen regularly. They come in very official looking envelopes and look very "real" telling you that your Statement of Information for your state is due and to immediately fill out the form and remit $XXX - and many, many people get deceived and send the money.

Before you submit any form that you get in the mail, go on the State website and look to see what the real requirement is...in California it is a simple form and a $25 payment. I've seen bogus forms requesting $100 - almost $300 - Don't get caught!

Webinars - What You Need to Know

noreply@blogger.com (Mary) — Fri, 04 Sep 2009 18:33:00 +0000

For anyone who does Webinars or is thinking about doing them here is some great information from Marketing Sherpa. If you haven't discovered them yet, check out their website...and do it often. They post a huge amount of information for FREE for a short period of time and then it goes into the archives that can only be accessed by members. And membership is very reasonable and worth it for serious marketers. Here's a chart that's from the archives on why webinar attendees bail...(with their full permission to distribute)

And this week they have a chart for creating a Webinar Timeline: http://bit.ly/24udQD It will be on their site for free until September 10th along with a variety of other information about Webinars, like -

How Email Series + Personalized Landing Page Lifted Webinar's ROI by 2000%

So if you're into marketing, click here and check out Marketing Sherpa's website.

There is so much great information available for free if you do a little searching. My information-aholic nature loves finding this stuff and putting it out there for everyone.

Two Unsettling Articles You Should Read

noreply@blogger.com (Mary) — Mon, 31 Aug 2009 21:56:00 +0000

There are a couple of articles you should check out - both unsettling.

One is from Market Watch about the IRS and some states that are watching Social Media sites - "Taxman Turns to Social-Network Sites" http://bit.ly/dDmQX You better be careful what you Twitter or post to Facebook, and not just because it might embarrass you someday!

The other is about the details of the Credit Card Legislation that was passed in May. A recent blog post of mine gave you a link to read about the new rules credit card companies will have to abide by, but this link listed a provision in the bill that I hadn't noticed anywhere else:

-- Includes unrelated provision that would allow people to carry loaded guns in national parks and wildlife refuges. http://bit.ly/EQZIz

Sure enough, H.R. 627: Credit Card Accountability Responsibility and Disclosure Act of 2009 was signed into law by the President with this provision in it:

(8) The Federal laws should make it clear that the second amendment rights of an individual at a unit of the National Park System or the National Wildlife Refuge System should not be infringed.

(b) Protecting the Right of Individuals To Bear arms in Units of the National Park System and the National Wildlife Refuge System- The Secretary of the Interior shall not promulgate or enforce any regulation that prohibits an individual from possessing a firearm including an assembled or functional firearm in any unit of the National Park System or the National Wildlife Refuge System if--

(1) the individual is not otherwise prohibited by law from possessing the firearm; and

(2) the possession of the firearm is in compliance with the law of the State in which the unit of the National Park System or the National Wildlife Refuge System is located.

Now, I don't want to debate here whether one should be allowed to carry a loaded gun in a National Park, but I sure as heck want to debate whether these totally unrelated provisions should be allowed to be attached to bills in the first place.

Chase Upping Minimum Payments on Credit Cards

noreply@blogger.com (Mary) — Sat, 29 Aug 2009 17:21:00 +0000

If you haven't had some credit card limits reduced or interest rates increased you're in the minority. But now the credit card companies (at least Chase Bank credit cards) have a new tactic.

It happened to me last month and to a friend this month. Now they are raising the minimum payment - mine went from 2% to 5% and since this is a card with one of those (long gone!) "2.9% interest until paid off" deals I long ago max'd it out by transferring higher balance cards to it. But now the minimum payment almost tripled!

Exactly the same thing happened to my friend, and they are both Chase issued credit cards. Interestingly they are reacting to objections differently...I was offered a 5-year payoff at my existing interest rate if I closed the account but my friend was not given that option.

A new law was passed regarding what a credit card company can and can't do, but a lot of the rules don't take effect until 2010 - so you can bet they will try to make whatever changes they can to your accounts before then. Click here for information: Credit Card Legislation

So read all of those pesky "Change in Terms" inserts or mailings from your credit cards and don't be taken off-guard.

Internet Marketing - Not as Difficult as You Might Expect

noreply@blogger.com (Mary) — Thu, 27 Aug 2009 22:20:00 +0000

One of the things I've been doing (while not blogging!) is immersing myself in learning about Internet Marketing. You may know from reading some of my posts that I have good friends who are in retail, and worse yet, in a tourism niche. Obviously, they are having a difficult time of it in this economy.

So my initial research was to see if I could find ways of helping them by giving them a presence on the internet for some of the wonderful things they have in their store. They have a lot of beautiful jewelry...from sea glass pieces to opals and a line crafted in Paris, so I thought that might be a good place to start.

Wow, little did I know how much there was to learn - immersing myself quickly became drowning myself! But I'm finally getting a better understanding of it. Some of my posts will be about what I've learned.

Toward that end, if you ever wanted to start figuring out how to sell on the internet I have a totally FREE download for you to get started with. No opt-in (meaning you don't have to give me your e-mail address to get it), just an immediate download of an 85-page book called "Google AdWords Made Easy" by Brad Callen, a very well-known person in the internet marketing world. Honestly, don't even think about paying for AdWords until you get educated, because you can lose a lot of money quickly.

Just click here and you can download "Google AdWords Made Easy" right now.

I'm Baaaaaack!

noreply@blogger.com (Mary) — Thu, 27 Aug 2009 22:03:00 +0000

Wow, I can't believe how long its been since I've written a new blog here! I'm sorry but life got in the way and I've been in the doldrums - I'm sure you know what I mean! Just haven't "felt" like writing. And, as I'm sure you'll also understand, as soon as I got in here and started writing again I began to wonder why I haven't been!

So, I'm back and excited with life again and ready to share it all with you again!

There's been so much going on in the world I may have a difficult time choosing what to write about...any suggestions? Just leave a comment - I'd love to hear from you!

And you can also follow me on Twitter - click on the top right or look for me - I'm @kdsm100

Mary

Clouded Leopards - New Cubs for this Endangered Species

noreply@blogger.com (Mary) — Fri, 27 Mar 2009 21:25:00 +0000

We were back east this past week and an employee told us his daughter worked for the National Zoo and was awaiting the birth of Clouded Leopards. This is one of "hot spot" endangered species as when in captivity the male will kill the female and the mother will kill her cubs. So this birth of two cubs is a huge step forward in saving this amazing species.

His daughter is the one who went into the cage to rescue the cubs while the mother was being distracted and is now helping to raise them; 3-hour shifts of bottle-feeding, etc.

For more amazing photos at The Washington Post go to Clouded Leopards and you can view 9 other photos, including of the mom and read about this incredible animal.

Do You Feel Like We're Riding a See-Saw Every Day?

noreply@blogger.com (Mary) — Mon, 16 Mar 2009 16:42:00 +0000

Wow, now the recession may be over by the end of 2009...but wasn't it all doom and gloom just a few weeks ago with even the President saying the economy might never recover?

See-saw? Feels more like whiplash some days.

Although I'm an optimist when it comes to my belief in our nation's ability to pull together and overcome huge obstacles and challenges, I also am a realist and think the American people are, too. Changing rhetoric isn't going to solve the problems we face. And this economy isn't going to change overnight.

I'm happy to hear more upbeat and positive things coming out of the administration and the news media. But when the message goes from pending doom to upbeat while the realities of what is going on is still in flux - well, that's what will keep all of us on edge and not sure what to believe.

Uncertainty is a big part of what is going on. When people are unsure of what to do or what might happen they hunker down. As long as we keep seeing and hearing conflicting messages and data this economy isn't going to do much more than it has been doing...see-sawing.

New Tax Court Rulings IN FAVOR of the Taxpayer!

noreply@blogger.com (Mary) — Wed, 11 Mar 2009 19:40:00 +0000

As you know, I read lots of business and tax stuff. And I subscribe to The Kiplinger Tax Letter which has two great pieces of information in its most recent edition (March 6th). These could be two very important Tax Court rulings in favor of the taxpayer.

One has to do with Real Estate Professional status for real estate agents (and possibly others) and taking an ordinary loss on an abandoned investment.

Here are portions of the quotes (their copyright policy prohibits me from providing the full entries):

"Real estate agents ... rental real estate losses are exempt from the passive loss rules if they spend more than one-half of their time and at least 750 hours per year materially involved in real estate, the Tax Court says. ... The Service said that agents were not covered, but the Tax Court disagreed (Agarwal, TC Summ. Op. 2009-29)." Copyright 2009. The Kiplinger Washington Editors, Inc.

and

"The loss on an abandoned investment is deducted as an ordinary loss,
the Tax Court says in a case where a couple gave up the $25,000 they paid
for a franchise. ... (Alami El Moujahid, TC Memo. 2009-42)." Copyright 2009. The Kiplinger Washington Editors, Inc.

In This Economy Barter May Become More Commonplace

noreply@blogger.com (Mary) — Sun, 08 Mar 2009 23:24:00 +0000

I was just reading an article from a source that isn't usually very "upbeat." But in these two articles at The Sovereign Society they made me think about something that makes good sense in our current economic situation. Going back to the basic concept of barter. And I loved their title: Using "People Power" To Close Your Lifestyle Gap ©The Sovereign Society, copyright 2009 - I need to see and read upbeat, positive things right now.

Barter has been used forever, and there are plenty of people that have been using it right along. But how many of us really have been involved with it in any significant way?

Rather than try to re-write what they've already written I'm just going to give you the links and suggest you read the two articles. What I really liked, and think we need more of right now, are some reminders of how we can deal with this whole economic mess on a personal and business level. I don't know about you, but I'm looking for solutions and ideas to personal situations. What's happening on the national stage is not as important to me as what I can do individually to help myself, my family, my friends and my community to weather the storm.

To quote from the end of the second article:

But bartering and joint ventures are truly the beating heart of our economy; exactly what "paper money" tries to simulate. And when paper money fails to closely simulate the levels of efficiency and satisfaction you get from barter trades...well, don't be afraid to go back to what works.

So check out the two articles:
Using People Power To Close Your Lifestyle Gap
People Power at Your Place of Business

FICO Scores are Starting to Drop - But Why NOW?

noreply@blogger.com (Mary) — Sat, 07 Mar 2009 00:53:00 +0000

Back on August 10, 2008 I wrote a blog post about the tightening credit and its ramifications and I ended the title of it with "...and Watch Your FICO Scores DROP!"

And it's begun to happen - I just don't understand why it didn't start sooner. When some of your available credit is taken away your ratio of outstanding debt to your available credit changes, for the worse. Whereas you may have had a credit card with a $10,000 credit line and only $2,500 owed on it you had a 25% debt ratio. If they reduced your credit line to $2,500 you would now have 100% debt ratio - not good for your FICO score.

I have monthly monitoring of my credit reports and score and have been surprised to not see any change at all to my FICO score even though as with many others I have had credit card companies reduce some of my credit lines.

But today I checked my daughter's report and saw her score dropped 28 points and yet not one thing has changed in her file since last month and surprise of surprise, last month it dropped 28 points as well! Absolutely nothing in her file had changed over those two months but her score has dropped almost 60 points. She has "excellent" in all the categories except for "length of credit history" because she's only got a few years of history.

I hadn't gotten my monthly notice on my account so I popped over there and lo and behold my FICO score is now beginning to drop as well.

What does this mean? Well, I'm not sure...it should have happened months ago when credit began being shut off, but it didn't.

But now suddenly the scores are adjusting downward. Odd isn't it? The government is pushing for the financial institutions that they gave bailout money to to actually use it to give credit to consumers again, but suddenly all of us don't look as good on paper any more - in some cases for no apparent reason. Are these institutions now going to point to our lower FICO scores and use it as an excuse not to lend?

Just what is going on? Seems like your guess is as good as mine, but it doesn't look good any way you look at it.

5.25% APY on a Free Checking Account? For Real!

noreply@blogger.com (Mary) — Thu, 05 Mar 2009 18:34:00 +0000

Well leave it to my son (just about to turn 20!) to tell me about a deal that sounds too-good-to-be-true, but seems to check out!

He learned early that you want your money to make money, so he's always looking for ways to do that...earlier there were some creative ways that didn't really make sense (LOL!). But talking them through gave him a better understanding of what he could and should look at.

So he and I were talking last night and he told me he found a site that lists the best interest rates at banks and found www.americanetbank.com that is giving 5.25% APY interest on their Rewards Checking Account. So, not wanting him to be "taken" I checked them out. And they seem to be for real.

A totally online bank (no branches) and a part of All America Bank in Oklahoma City, OK that was established in 1969. AmericaNet Bank® is a trade name and trademark owned and used by All America Bank®. A division of All America Bank® - Member FDIC.
There are reviews by both BankRate.com, which I have followed for a number of years for their articles and information, and BauerFinancial.com which was new to me but also seems to be a good resource. I also googled them and couldn't find any complaints, etc. (which some of the other online banks did have, BTW). And here is a link to the most recent FDIC data and report on it: FDIC Report

Both BankRate.com and BauerFinancial.com give it 4 stars out of 5 . The information on BankRate.com which they used to evaluate it is free, the information on BauerFinancial.com is available for a small fee, but the rating is published for free.

Now, there are, of course, requirements in order to get that interest rate - but they are not difficult, you just need to be aware of them (this is from their site):

"The only requirements are:

Make 10 AmericaNet Bank® VISA® CheckCard sales transactions**
All statements are received electronically

At the end of your statement cycle, ATM fees charged by any bank worldwide are automatically refunded in one lump sum. At the same time, you will be paid interest earned by your account. Interest earnings of 5.25% APY* are calculated on your average daily balance of up to $25,000. Amounts over $25,000 will earn 2.25% APY*."

REWARDS CHECKING is a free personal checking account that offers the highest possible interest rate of 5.25% APY*. No minimum balance is required. REWARDS CHECKING offers the added convenience of an AmericaNet Bank® VISA® CheckCard to access ATMs worldwide and for secure debit card purchases. Enjoy all of the great benefits of a REWARDS CHECKING account: 5.25% APY* FREE Online Banking FREE Checking FREE AmericaNet Bank® VISA® CheckCard FREE Customer Service FREE Daily Email Notification if Overdrawn FREE ATM Transactions Worldwide Overdraft Privilege Available NO MINIMUM BALANCE *APY is Annual Percentage Yield **Requirements must be met each monthly statement cycle to receive the rewards. There are no rollover transactions. The monthly statement cycle ends on the 3rd Wednesday of every month. Qualifying VISA® CheckCard sales transactions include each time you use your VISA® CheckCard to make a purchase from a vendor or merchant. ATM and ACH transactions do not qualify. Limit of two Rewards Checking accounts allowed per individual.

Some other places that I found information on them was at http://bankdeals.blogspot.com and at www.bankaholic.com - so check it out for yourself...I'm not a financial advisor so do your own research and make your own decisions.

Privacy (or lack of!) and the Internet

noreply@blogger.com (Mary) — Fri, 27 Feb 2009 23:18:00 +0000

I've always been amazed at what information you can get online about people; it's unnerving! I was just told a little secret...at least it was to me. Go to google.com and type in "phonebook:your name and state" - it would look like this: phonebook:john smith wyoming - important - don't put a space after the : but do put a space between your first and last name and the state.

Did you find yourself? Maybe not just your phone number but also your home address? And a google map button if your address was shown?

If you did, you can click at the bottom of the page to remove your information - but as they point out it won't get rid of your information in a variety of other places where it can be found, just in Google.

The information you need to get rid of information on you that is floating around the internet is in a great little e-book. I bought it ($27) and they say they'll be sending updates and videos as well to show how to do it. For me it is money well-spent. If you want the e-book here's a link: Privacy e-Book

President Obama's Taxes on the "Wealthy"

noreply@blogger.com (Mary) — Thu, 26 Feb 2009 18:26:00 +0000

Is it just me or is there is something wrong with calling people "wealthy" who make $200,000 a year when in the United States there are about 400 billionaires (and a single billion is 1,000 times a million - and not many of those people have a single billion, but many billions) and over 9 million millionaires! I found quotes that put the richest 1% of households in the United States owning between 34-38% of all of the wealth in the country.

Consider that Warren Buffet pays about 15% in tax but his secretary (who only makes about $60,000 a year) is in the 35% tax bracket. He issued a challenge to members of "The Forbes 400" billionaires saying he would donate $1 million to charity if the collective group of richest Americans would admit they pay less taxes, as a percentage of income, than their secretaries. That's very nice, but I would have liked to have had him voluntarily pay the same percentage in taxes as his secretary and challenged the other wealthiest Americans to do the same.

Meanwhile it looks like it's time for a divorce for a bunch of Americans...as a married couple your taxes will go up if your income is over $250,000 a year, but if your spouse turns into your "significant other" you can each make up to $200,000 a year before your taxes will go up. That's a combined income of $400,000 without an additional tax hit.

I came upon this old interview from 2003 that I found interesting...here is a portion of it and I've given the link if you'd like to read the entire thing.

May 2003 - VOLUME 24 - NUMBER 5

The Wealth Divide
The Growing Gap in the United States
Between the Rich and the Rest

An Interview with Edward Wolff

Edward Wolff is a professor of economics at New York University. He is the author of Top Heavy: The Increasing Inequality of Wealth in America and What Can Be Done About It, as well as many other books and articles on economic and tax policy. He is managing editor of the Review of Income and Wealth.

http://www.multinationalmonitor.org/mm2003/03may/may03interviewswolff.html

"If you think about taxes that reflect a family's ability to pay, a family's ability to pay is a reflection of their income, but also of their wealth holdings. A wealth tax would not only produce more tax revenue, which we desperately need, but it would be a fairer tax, and also help to reduce the level of inequality in this country."

MM: Do you favor a wealth tax?
Wolff: I’ve proposed a separate tax on wealth, which actually exists in a dozen European countries. This has helped to lessen inequality in European countries. It is also, I think, a fairer tax. If you think about taxes that reflect a family’s ability to pay, a family’s ability to pay is a reflection of their income, but also of their wealth holdings. A broader kind of tax of this nature, would not only produce more tax revenue, which we desperately need, but it would be a fairer tax, and also help to reduce the level of inequality in this country.

MM: In broad outlines, how would you structure such a tax?
Wolff: I would model it after the Swiss system, which I think is a pretty fair system. It would be a progressive tax. In the United States, the first $250,000 of wealth would be exempt from the tax. That would exclude 80 percent of all families. The tax would increase at increments, starting out at .2 percent from about $250,000 to $500,000. The marginal rate would go up to .4 percent from $500,000 to $1 million, and then to .6 percent from a $1 million to $5 million, and then to .8 thereafter.

It would not be a very severe tax. In fact, the loading charges on most mutual funds are typically of the order of 1 or 2 percent. It would not be an onerous tax, but it could raise about $60 billion annually. Eighty percent of families would pay nothing, and 95 percent of families would pay less than $1,000. It would really only affect very rich families.

"The Power of One" - Staying Focussed

noreply@blogger.com (Mary) — Thu, 26 Feb 2009 17:30:00 +0000

I read this and thought it was very to-the-point and addresses a lot of what I take issue with in the way government officials act. You can't do everything and make everyone happy, especially in a crisis. Politicking and pork in an Economic Stimulus Bill for this economic crisis is unacceptable to me.

This is actually the end of the article, but if you'd like to read the full story go to: http://www.sovereignsociety.com

Their articles can be "edgy" but always give me food for thought.

THE SOVEREIGN SOCIETY OFFSHORE A-LETTER Wednesday, February 25, 2009 - Vol. 11, No. 52 -

An Open, Candid, and
Non-Partisan Response to the President

Second: Clean up Your Message and Acknowledge the "Power of One"
...Fix the Economy first, and THEN we'll Cure Cancer

This point is ancillary to the first, but it's just as crucial in terms of maintaining the kind of market confidence we'll need to get the economy growing sometime in the next few years;

What's your angle? What's the "shot"...what's your line?

Is it fixing the economy? Then talk about fixing the economy. Don't give us an hour of the same promises we've been spoon-fed by years of politicians. Alternative Energy? Gas is less than two bucks a gallon right now...people would much rather hear about how you're going to keep them working. Reforming Healthcare? Aren't we in the middle of the biggest crisis since - and perhaps even greater than - the Great Depression? Improving Education?

Mr. Obama; you're done campaigning. You've already got the Office, and words won't fix the economy.

Moreover, last night's speech seemed to reflect the compromised and...shall we say "porky" nature of the recovery bills so far passed by a Democratic Congress. US$700 Billion to fix the banks? Yeah, let's throw another US$180 Billion in useless favors on there (like wooden arrow shafts and mining gear) so we can get the votes. Biggest spending bill in American History? Let's throw in a Maglev from Disneyland to keep Harry Reid happy.

But your speech last night - and the aforementioned recovery bills - seem to be rife with "You scratch my back..." politicking. This kind of "governing" (we use the term loosely here) won't convince the people or the markets that the water's safe to start swimming again. It will make them feel like their health and welfare hang on whether or not we've done enough "favors" for the politicians, bureaucrats and sponsors standing between them and the government actions necessary for a swift recovery.

As such, and combined with your flawed perspective on banks and lending, we do not believe that your actions since taking office are likely to enhance America's prospects for a smooth and swift recovery.

A Friend's Experience with a Loan Mod Gone Bad

noreply@blogger.com (Mary) — Wed, 25 Feb 2009 23:47:00 +0000

I was in San Diego this past weekend for a seminar. We have a little (under 1,000 sq.ft) home there with a beautiful view of the San Diego bay and it's "get-away" time when we go there. We don't cook, we go out to eat and we don't even make coffee in the morning, we go down to our favorite little place and catch up with the owners over breakfast.

This is a place where the 2nd time you go in they remember you and ask if you want whatever you had the first time. And since I'm a creature of habit they have my coffee and bagel ready by time I get to the cash register even if there's a line in front of me!

So we were talking the last time I was there about loan modifications and they were in the process of getting one...but they said it had been 3 months and nothing had happened. When they called the bank they said someone contacted them 3 months ago and said they were working on behalf of our friends, but they never contacted the bank again.

Now they paid $3,000 up-front for this help. NEVER do that! Anyway I got an update and now they were getting nasty letters from the bank. I called the Ed, the guy I know who I refer people to for loan modifications (unfortunately we hadn't seen our friends since before the holdiays) and asked him if he'd check on what was going on for them.

His e-mail to me started with "they are in so much trouble!" Seems it was a real estate agent who took their money and said they'd handle the loan mod for them, then they did nothing. So our friends haven't made a payment since October and now the bank just notified them they are starting foreclosure.

He and his firm have great contacts, but even so this is going to be a squeeker as to whether he can stop the foreclosure.

Now Ed also went to law school, so he told them they should file a complaint with the Real Estate board and consider small claims court to get their money back. The point in all of this is that there are a lot of people taking advantage of people who are in trouble with their mortgages and they are easy "prey." Please, if you need information on home loan modifications go to the website I created with lots of information and referrals to two reputable companies (and I recommend you compare at least two companies whenever you buy anything!) and Ed's firm is one of them.

And just as I found out with my friends at the coffee shop, you never know when someone you know might be in need of good, reliable, honest information on home loan modifications, so please pass along the website at www.loanmodifications4help.homestead.com to people you know. They may not need it, but might know someone who does. There are way too many unethical companies out there taking advantage of people.

Leadership - A Skill You Need to Develop

noreply@blogger.com (Mary) — Wed, 18 Feb 2009 16:29:00 +0000

In this tumultuous time knowing how to lead is a critical skill. We all have those momentary insights that are the flashes of leadership but most are never harnessed. Whether we are too insecure to think that we could be a true leader or lack the discipline to follow through on our ideas, it is a waste of what could be something that would impact the lives of others in a positive way.

I listened to a powerful tele-seminar last night where Eben Pagan and Wyatt Woodsmall talked about leadership in a way that actually changed my way of thinking about what leadership is and why it is a critical skill for each and every one of us.

Look around you, at your family, your work, your community. Leadership is necessary at every level in your life. You're a leader when you set limits for your kids, help a co-worker or volunteer in your community in some manner. You do these things instinctively, probably without ever thinking about leadership. But what if you actively were aware of those actions being acts of leadership? What if you understood how you could be a more effective leader by understanding what motivates people?

I'm paraphrasing here from the tele-seminar, but what sets humans apart in this world is our ability to create in our imaginations something that doesn't exist...a future...and the ability to act upon creating that envisioned future.

This is a time in our lives and in our country's history that needs each and every one of us who are willing to accept the challenge and the responsibility to step up and be the leaders that we all are capable of. It doesn't mean running for public office. It means going the extra step to not just be good parents to our kids, but to help them find inspiration in life; it means not just helping a co-worker or employee, but encouraging them and creating an atmosphere of support; and being willing to not just be a support person in our community activities, but an idea generator.

To quote Robert F. Kennedy, "If not us, who? If not now, when?"

Another Look Backward...

noreply@blogger.com (Mary) — Sun, 15 Feb 2009 19:48:00 +0000

After my previous post I started looking back some more at what I had written in 2008 - if I could see the handwriting on the wall back in June 2008 why couldn't our elected officials...or did they and choose to stick their heads in the sand?

Posted on: Sun, 06/29/2008 - 11:00 Mary said:

I don’t have a prediction but take what has already been noted, add in the reducing or totally cancelling of HELOC’s, the reduction in credit card limits ... and the resulting financial disasters for many, many more people and the resulting drop in FICO scores and, wait, I DO have a prediction - total economic disaster!

Please, someone tell me we aren’t in as bad a situation as it appears to me…

Posted on: Sun, 06/29/2008 - 18:50 Mary said:

I think what worries me most is the ripple effect...one bank, company, etc. starts calling in HELOC's and then the credit card companies start reducing credit lines. These are things that affect people who have been paying all of their bills on-time, managing their debt, etc. These aren't necessarily the people who didn't know their adjustable mortgage actually would go up.

And that's what is so troubling...I'm old enough to remember waiting in gas lines during the embargo, the freeze on wages, etc. And yet this seems more ominous.