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Kiss’s Gene Simmons and Cool Springs CEO Sam Watson discuss how they are helping America’s wealthy protect their money.
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The tragic death of Whitney Houston is compounded now by news that she may have died close to broke or even a debt.
But it is exactly that awful circumstance and -- next -- insurance products.
Is meant to prevent joining us now is.
International rock star and lead singer -- good friend of David has -- as well Gene Simmons.
And his business partner of cool springs life about which -- in a moment.
Sam Watson so this is.
It's kind of an insurance product but it's also provides people -- -- you have to have what about ten million to it to buy into this thing.
-- twenty million wow it's expect so this obviously is catering to well off people but who don't wanna have to worry about paying monthly insurance bills who -- in.
Access to credit as well with.
-- -- all due respect.
The way anybody positions something is going to be all of what perceptions are gonna go ahead and here's what it is we are blessed to be living.
In America the land of opportunity -- -- to roll up our sleeves.
Work hard and -- bloody year after year of scratch all the way to the top make a lot of money.
America allows us and wants us to do that once you get all that money -- -- in the highest tax bracket -- pay almost fifty.
Percent of my tax dollars to the United States of America on foreign with a I want to leave the rest of it to my family because I love my family my children I wanna take care of them when I'm not here.
Cool springs life dot com.
Gives you a life equity strategy in other words while you're here I'm talking to you and anybody else out there where you -- your very rich job right.
Everybody William -- everybody who has worked hard to amass wealth.
Polls -- to -- family and to charities to -- strategy now what we do.
Is to make sure that you don't wait for the tax.
Brackets so that for the estate taxes to jump up to 55%.
And so on in short we loan you.
Up to 300 million dollars of flat Libor plus a small banking fee.
The cost of that money the arbitrage between the cost of the money.
And what you can get on the street should be a 10200 or more basis points you get to keep that.
And it prevents you from writing any more checks minimizes your state taxes it's a wonderful thing for your family.
Sanford -- how much equities in a company itself.
-- cool springs yourself well we've done over seven billion in transactions.
Over the last twelve years.
So -- it's -- if it is so but the pool that you're drawing from if if a member of cool springs.
Wants to borrow money -- -- very cheap rates is is from where workers have -- -- -- -- great question we have a consortium of banks major household banks that we're working with.
Right here in your backyard is Bank of America.
Excuse me.
Bank of New York yes on target and -- shop for that.
But bank of new York and the landing is at Libor.
Plus a hundred to a 150 basis points.
But what will do -- -- use fixed rates out for as long as you liked up to thirty years to fix the rate.
So it today will finance your life insurance policy.
You won't have to writing more checks -- keep that money make money on my money how that's -- how could this have have helped Whitney Houston's -- state for example because if in fact she died broke.
And her state may actually -- money -- Allegedly you know people may think this is a cheap -- opportunity knocks in your take advantage of the story but the tragedy let's be honest folks the tragedy here.
In my opinion is not so much what happened to Whitney although.
It's tragic -- anybody does there is a family here there as a child involved.
Perhaps -- charities it is your fiduciary duty your ethical moral obligation to take care of her family while your life making money.
Planning for the day when you're not going to be here the tragedy is what's happened to the family.
The child and the fan the fans that's happened so you have to look.
Do yourself a favor out there go to cool springs life dot com find out what your choices in -- far stop writing checks for premiums.
Because every dollar you put on the table you -- -- two.
To get back.
But -- -- she she could have if she had deposited money when she had the cash and clearly at one point in her life she dead.
If she deposited money money with you how might she bit her estate been able avoid what -- -- -- well.
We would've done while ms.
Houston was alive was arranged -- -- for.
To pay for a life insurance policy that would have a paid for a state taxes left her payers money to live -- Child money.
To live on.
And any charities that she cared about.
All right that's how long that's kind of a track record do you guys have how how become -- -- here twelve years over -- -- -- It's.
Twelve years over seven billion transactions over 700 -- okay.
All right we we started out talking a little bit about what this country is in should be about keeping what you what you earned during life.
After tax it's fair tax -- I understand but Obama says you're not paying even that 50% is not enough first of all voted for him I did you want him to continue four more years or why.
First of all I believe in the honor integrity of the presidency and therefore whether we agree or disagree with it.
I think we have to stop calling people by their last names of doctors called doctor -- Think -- President Obama.
One is no longer office you can -- Obama I voted for the man I have lots of questions I want to decent Republican to stand up there.
And stand toe to toe I wanna hear what people have to say my biggest problem with government is that it's treated as a political.
-- -- When the truth is that United States of America is -- business.
It has -- gross national product.
Our imports should be less than are -- our exports should be bigger than our imports.
You have to write checks but only if you can afford to write them this country is being run like a political.
Add -- the by professors -- Berkeley who've never have their own company it is vile it's hurting the American people.
Do the right thing -- no matter what political persuasion or.
Get the business leaders of America who literally and physically built this country not the people who read more books than you do.
Get the business leaders to come in and show us how to make this country solvent.
Again is -- toxic.
And running right now who you could support as opposed to President Obama.
My problem is every Thomas say something somebody takes about a -- complex.
I want.
I want -- from the Romany.
To stand side by side with President Obama.
And I -- -- a total not about where they went to school because.
They both -- -- but about policy unless interest and in social issues are more fiscal responsibility.
And to keep America safe.
That is the job the president I don't wanna do what -- told you what to do what home.
Who have married who not to matter I don't care about those issues make America solvent make America the biggest country and most successful country in the history of mankind.
And and get out of debt for God's sakes it's gonna take ten years.
I think we have to give it a real slash and burn -- stop entitlements.
Get our military -- strong as you can cut out.
The study that's trying to find out and Hawaii where the flies fart however not making this one up two million dollars going to a university.
To find out if flies.
Are we lot to say fart you can say pass -- classrooms and I area.
That's where your money is going -- so it's time to wake up friends by the way you mention marriage congratulations on -- I love Shannon Tweed.
Incredible but I weighted C I did my due diligence -- -- -- -- 62 years to -- well well I hope it turns out well all it's gonna be the only one for me gentlemen best of luck with cool springs thank you it was a pleasure to see great to see again take care.
