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Missed Fortune – Immunization from Higher Taxes & Inflation

Posted on | December 30, 2013

The Free Stuff Paradox

Doug recently received an email from a tax attorney he’s known for over three and a half decades. This attorney’s email does a brilliant job of summing up the class warfare that’s been going on right before us.

He writes, “The folks who are getting the free stuff don’t like the folks who are paying for the free stuff. Because the folks who are paying for the free stuff can no longer afford to pay for both the free stuff and their own stuff.

And the folks who are paying for the free stuff want the free stuff to stop. The folks who are getting the free stuff want more free stuff on top of the free stuff they’re already getting.

The people who are forcing the people who are paying for the free stuff are telling the people who are getting the free stuff that the people who are paying for the free stuff are being mean, prejudiced, and racist.

The people who are getting the free stuff have been convinced that they hate the people who are paying for the free stuff by the people who are forcing some people to pay for the free stuff they’re and are giving them the free stuff they’re getting in the first place.”

Are you getting all this?

We have let the free stuff giving go on for so long that now there are more people who are getting free stuff than there are people who are paying for it.

This is nothing new. All great democracies have ended up committing financial suicide between 200-250 years after being founded. The voter have figured out that they could vote themselves money from the public treasury by electing people who promise to give them benefits in exchange for electing them.

The U.S. officially became a republic in 1776.  This would put us smack dab in the middle of that 200-250 year time frame.

Right now, the number of people getting free stuff outnumbers the people who are paying for the free stuff. This shift took place in just the last year.

Failure to change that spells the end of the United States, as we know it. Election 2014 is coming and while we don’t know who will be elected, there are two things we can know for certain. Taxes will be going up and dollars will be worth less.

What Can Be Done?

As a nation we have dug such a deep hole that it took us 100 years to amass a $9.2 trillion national debt. In less than 8 years, we will have doubled that debt to over $18 trillion by the end of 2014. Our congressional leaders have already approved a new debt ceiling of $20 trillion.

Last year, for the first time, 100% of all revenue collected by the Internal Revenue Service was spent by the time it was received. In the last 7 years we have flipped from 45% of Americans being tax-eaters who receive more benefits than they pay for while 55% were taxpayers to where there are more takers than makers.

So, what does all this mean?

It means that taxes will have to go up dramatically because, at this rate, it will be impossible for the budget to be balanced. Also, the government has been printing massive amounts of money, which causes inflation.

This why it is imperative that you take ownership of your brighter future and utilize the strategies that will make you immune from taxes going up as well as the effects of inflation.

This means if you have money in tax-deferred savings vehicles like 401(k)s or IRAs, you could be in for a rude awakening. Because the taxes have only been deferred, when you go to pull out that money, you’re likely to find yourself in the highest tax bracket you’ve ever been in. You’ll no longer have the deductions that lightened your tax liabilities.

The redistributionist policies of Congress will require taxing at higher and higher rates to pay for the benefits they’ve promised to the people receiving free stuff.

You must protect yourself and your money by utilizing those sections of the IRS Code that allow you to save for the future tax-free.

Learn the details of how to immunize yourself from higher taxes and inflation by visiting with a wealth architect today.

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

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