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Missed Fortune – Finding Sure Footing On a Slippery Slope

Posted on | May 22, 2011

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Standing On the Slippery  Slope

A recent article by Bill Spetrino of the Money News Financial Brain Trust talks about the Big oil company tax breaks.

Senate leader Harry Reid met with major oil company CEOs to discuss ending government oil subsidies. ¬† In reality, it’s grandstanding and a way for Congress to distract the American people from the real source of America’s gigantic deficit–out of control spending.

In 2009 the Democratic party had a filibuster-proof majority in Congress and chose not to end the oil subsidies. Yet now the Senate is blaming the oil companies for the high price of gas.

Did you realize that oil companies make about 7 cents per gallon while state and federal governments make about 50 cents per gallon. Is it really the oil companies that are being unfair?

So who owns these big oil companies? The oil industry is only owned about 1.5% by upper management. The bulk of their ownership is virtually every major pension fund that owns oil company stock.

The profit margin for oil companies between 2007-2010 averaged around 6.75% but that pales in comparison to profit margins in virtually every other industry.

Technology has a 30% profit margin by comparison.

America wasn’t built on demonizing successful businesses and high earning people.

So Where Exactly Will the Government Get Its Money?

The U.S. Treasury is now planning to tap pensions to help fund government. Treasury Secretary Timothy Geithner has warned for months that the government would soon hit its $14.3 trillion debt ceiling.

He will begin to borrow from retirement funds, starting with federal workers, but this maneuver won’t buy more than just a few months of time.

Raising taxes will hurt our economy and hurt our ability to create jobs according to a handful of Republican and Democratic leaders alike. But the majority in Congress still isn’t listening.

The government needs roughly $125 billion more per month than it takes in each month just to cover its obligations. This makes any special measures less effective than they were in the past.

As families we tighten our belts and spend less when our outgo exceeds our income. But Congress is flirting with defaulting on the federal debt.

A default could increase borrowing costs for everyone as well as impacting job creation and investment throughout the economy.

The interest on the federal debt two years ago was $41 million an hour.

Taxes will be going up. Inflation is around the corner due to the government printing so much money to cover its spending.

The market volatility of the last decade has taken a toll on people who had their money in the market.

People who’ve implemented the Missed Fortune strategies are in the best position to stand their ground on a slippery economic slope.

They’ve learned how too grow their money tax free and to enjoy it tax free when they start to access it. They’re linking their returns to those things that inflate when there’s inflation. And they’re indexing their money to grow when the economy grows without risking it when the economy goes down.

These strategies are proven and have been working for years for those wise enough to use them.

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*Life insurance policies are not investments and, accordingly, should not be purchased as an investment

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