![]() If you’re an investor who lives off capital gains and dividend income, there are certain ways to reduce what you owe ( consider Act 22 in Puerto Rico…) So instead of my money going to pay for more war and waste, the funds are put to much better use where I can see real, tangible, positive results in people’s lives. I’m currently putting a promising young orphan through school.Īnd I co-founded and regularly fund a charity that provides entrepreneurship education for young people each year.Īll of these things are possible because I’ve applied perfectly legitimate provisions in the tax code to reduce the amount that I owe. (As a result of the procedure he was able to dance at his wedding and has participated in a 5k race.) I paid more than $70,000 to fund an experimental surgery for a disabled veteran who lost his leg in Afghanistan. I’ve financed the recovery of a village in Nepal that was devastated by an earthquake. Rather than continue to finance wars, debt, body scanners, and drone strikes, you can put that money to work in a way that actually benefits yourself, your family, and anyone else you choose.Įach year I put my tax savings to work in a variety of productive ways. Or that it’s somehow ‘unpatriotic’ to follow the law and take legal steps to reduce what you owe?Īre people being unpatriotic when they maximize their IRA contributions or shop in a duty-free store?Ĭutting your tax bill is a sensible thing to do. I fail to see how ‘patriotism’ has anything to do with this.ĭoes anyone seriously believe that ‘patriotism’ is defined by the amount of money you throw into a failing system? If you have misgivings about how the government squanders your money, you’ll be a lot better off reducing the amount that you pay them. But what you do have total control over are your own actions and finances. In truth your vote has precisely zero influence over the national agenda. This seldom produces any significant results. We’re taught in our government-controlled education system that when we disagree with the decisions that our politicians make, we’re supposed to go down to the polling station and vote for change. The reality is that there’s very little you can do about this. They’ve spent billions of dollars to wage wars, invade other nations, and pay for drone strikes that ‘accidentally’ destroyed schools and children’s hospitals. There are countless other examples, it just never stops. Then there was the $1 billion that the US military spent to destroy $16 billion worth of perfectly good ammunition.Īnd of course the $2 billion Obamacare website fiasco. In the Land of the Free, for example, the federal government’s National Institutes of Health wasted millions of dollars taxpayer funds a few years ago to study monkeys and mountain lions running on treadmills. It’s not exactly a controversial statement to suggest that governments waste an unbelievable amount of money. I’ll never understand this close-minded mentality. ![]() Then, as expected, she exploded with the usual brainwashed, vitriolic disgust, accusing me of being ‘unpatriotic’ because I take legal steps to slash my tax bill. You’ll never generate that kind of return so easily anywhere else.” “Think about it cutting your tax is like boosting your investment return by 10%, 20%, or more, without taking on any risk. “The highest return on investment you’ll ever make,” I told her, “is taking legal steps to reduce your taxes.” ![]() Things became really unglued when I arrived to the topic of taxation. Then I told her how we educate people about ways to distance themselves from the consequences, and how to make better investments that generate strong returns while taking minimal risk. That didn’t seem to be the idle chit-chat she was looking for. I walked her through the big picture, explaining how the US government is totally bankrupt, that Social Security is running out of money, and that the Federal Reserve is rapidly engineering its own insolvency. That’s when the conversation became just a little bit uncomfortable. “Oooooooh,” she said, and then inquired what I had been speaking about. I played along and explained to her that I had been on a cruise for the past week speaking at an investment conference. On the plane ride back to Chile last night, I was sitting next to a particularly chatty woman who wanted to know my whole life story and what I was doing in Mexico.
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