Tax Planning Quotes

So much in writing depends on the superficiality of one's days. One may be preoccupied with shopping and income tax returns and chance conversations, but the stream of the unconscious continues to flow undisturbed, solving problems, planning ahead: one sits down sterile and dispirited at the desk, and suddenly the words come as though from the air: the situations that seemed blocked in a hopeless impasse move forward: the work has been done while one slept or shopped or talked with friends.

Taxation is the price we pay for failing to build a civilized society. The higher the tax level, the greater the failure. A centrally planned totalitarian state represents a complete defeat for the civilized world, while a totally voluntary society represents its ultimate success.

The lottery is a tax on poor people and on people who can’t do math. Rich people and smart people would be in the line if the lottery were a real wealth-building tool, but the truth is that the lottery is a rip-off instituted by our government. This is not a moral position; it is a mathematical, statistical fact. Studies show that the zip codes that spend four times what anyone else does on lottery tickets are those in lower-income parts of town. The lottery, or gambling of any kind, offers false hope, not a ticket out.

The great owners, striking at the immediate thing, the widening government, the growing labor unity; striking at new taxes, at plans; not knowing these things are results, not causes. Results, not causes; results, not causes.

Antidemocracy, executive predominance, and elite rule are basic elements of inverted totalitarianism. Antidemocracy does not take the form of overt attacks upon the idea of government by the people. Instead, politically it means encouraging what I have earlier dubbed “civic demobilization,” conditioning an electorate to being aroused for a brief spell, controlling its attention span, and then encouraging distraction or apathy. The intense pace of work and the extended working day, combined with job insecurity, is a formula for political demobilization, for privatizing the citizenry. It works indirectly. Citizens are encouraged to distrust their government and politicians; to concentrate upon their own interests; to begrudge their taxes; and to exchange active involvement for symbolic gratifications of patriotism, collective self-righteousness, and military prowess. Above all, depoliticization is promoted through society’s being enveloped in an atmosphere of collective fear and of individual powerlessness: fear of terrorists, loss of jobs, the uncertainties of pension plans, soaring health costs, and rising educational expenses.

Higgledy piggledy, my black hen, She lays eggs for gentlemen. Gentlemen come every day To count what my black hen doth lay. If perchance she lays too many, They fine my hen a pretty penny; If perchance she fails to lay, The gentlemen a bonus pay. Mumbledy pumbledy, my red cow, She’s cooperating now. At first she didn’t understand That milk production must be planned; She didn’t understand at first She either had to plan or burst, But now the government reports She’s giving pints instead of quarts. Fiddle de dee, my next-door neighbors, They are giggling at their labors. First they plant the tiny seed, Then they water, then they weed, Then they hoe and prune and lop, They they raise a record crop, Then they laugh their sides asunder, And plow the whole caboodle under. Abracadabra, thus we learn The more you create, the less you earn. The less you earn, the more you’re given, The less you lead, the more you’re driven, The more destroyed, the more they feed, The more you pay, the more they need, The more you earn, the less you keep, And now I lay me down to sleep. I pray the Lord my soul to take If the tax-collector hasn’t got it before I wake.

As observers of totalitarianism such as Victor Klemperer noticed, truth dies in four modes, all of which we have just witnessed. The first mode is the open hostility to verifiable reality, which takes the form of presenting inventions and lies as if they were facts. The president does this at a high rate and at a fast pace. One attempt during the 2016 campaign to track his utterances found that 78 percent of his factual claims were false. This proportion is so high that it makes the correct assertions seem like unintended oversights on the path toward total fiction. Demeaning the world as it is begins the creation of a fictional counterworld. The second mode is shamanistic incantation. As Klemperer noted, the fascist style depends upon “endless repetition,” designed to make the fictional plausible and the criminal desirable. The systematic use of nicknames such as “Lyin’ Ted” and “Crooked Hillary” displaced certain character traits that might more appropriately have been affixed to the president himself. Yet through blunt repetition over Twitter, our president managed the transformation of individuals into stereotypes that people then spoke aloud. At rallies, the repeated chants of “Build that wall” and “Lock her up” did not describe anything that the president had specific plans to do, but their very grandiosity established a connection between him and his audience. The next mode is magical thinking, or the open embrace of contradiction. The president’s campaign involved the promises of cutting taxes for everyone, eliminating the national debt, and increasing spending on both social policy and national defense. These promises mutually contradict. It is as if a farmer said he were taking an egg from the henhouse, boiling it whole and serving it to his wife, and also poaching it and serving it to his children, and then returning it to the hen unbroken, and then watching as the chick hatches. Accepting untruth of this radical kind requires a blatant abandonment of reason. Klemperer’s descriptions of losing friends in Germany in 1933 over the issue of magical thinking ring eerily true today. One of his former students implored him to “abandon yourself to your feelings, and you must always focus on the Führer’s greatness, rather than on the discomfort you are feeling at present.” Twelve years later, after all the atrocities, and at the end of a war that Germany had clearly lost, an amputated soldier told Klemperer that Hitler “has never lied yet. I believe in Hitler.” The final mode is misplaced faith. It involves the sort of self-deifying claims the president made when he said that “I alone can solve it” or “I am your voice.” When faith descends from heaven to earth in this way, no room remains for the small truths of our individual discernment and experience. What terrified Klemperer was the way that this transition seemed permanent. Once truth had become oracular rather than factual, evidence was irrelevant. At the end of the war a worker told Klemperer that “understanding is useless, you have to have faith. I believe in the Führer.

He was formulating a plan. He would redeem the dream. I could understand that. It is the universal blessing—and curse—of those who dare.

Municipalities that invest in education position themselves to ensure future tax revenue.

The great owners, striking at the immediate thing, the widening government, the growing labor unity; striking at new taxes, at plans; not knowing these things are results, not causes.

On Rachel's show for November 7, 2012: We're not going to have a supreme court that will overturn Roe versus Wade. There will be no more Antonio Scalias and Samuel Aleatos added to this court. We're not going to repeal health reform. Nobody is going to kill medicare and make old people in this generation or any other generation fight it out on the open market to try to get health insurance. We are not going to do that. We are not going to give a 20% tax cut to millionaires and billionaires and expect programs like food stamps and kid's insurance to cover the cost of that tax cut. We'll not make you clear it with your boss if you want to get birth control under the insurance plan that you're on. We are not going to redefine rape. We are not going to amend the United States constitution to stop gay people from getting married. We are not going to double Guantanamo. We are not eliminating the Department of Energy or the Department of Education or Housing at the federal level. We are not going to spend $2 trillion on the military that the military does not want. We are not scaling back on student loans because the country's new plan is that you should borrow money from your parents. We are not vetoing the Dream Act. We are not self-deporting. We are not letting Detroit go bankrupt. We are not starting a trade war with China on Inauguration Day in January. We are not going to have, as a president, a man who once led a mob of friends to run down a scared, gay kid, to hold him down and forcibly cut his hair off with a pair of scissors while that kid cried and screamed for help and there was no apology, not ever. We are not going to have a Secretary of State John Bolton. We are not bringing Dick Cheney back. We are not going to have a foreign policy shop stocked with architects of the Iraq War. We are not going to do it. We had the chance to do that if we wanted to do that, as a country. and we said no, last night, loudly.

Israel remains in a perpetual state of war with no plan to resolve its crisis “Americans will not want their government to spend tax dollars or their president’s clout on helping Israel.

Professional Answer from Tom Wheelwright Taxes are a part of life. The simple question is whether you are going to use the tax law to make them a smaller part of your life, or do nothing and let them stay a huge expense. With a sound education on how the tax laws work coupled with better tax planning from a competent tax advisor who understands the laws, most entrepreneurs and investors can permanently reduce their taxes by 10 percent to 40 percent. And the money you save in taxes can be used to invest and build your wealth. So don’t wait. Take action now and learn how you can reduce your taxes.

So let me get this straight – this is a long sentence. We are going to be gifted with a health care plan that we are forced to purchase, and fined if we don’t, which reportedly covers 10 million more people without adding a single new doctor, but provides for 16,000 new IRS agents, written by a committee whose chairman doesn’t understand it, passed by Congress, that didn’t read it, but exempted themselves from it, and signed by a president who smokes, with funding administered by a treasury chief who didn’t pay his taxes, for which we will be taxed for four years before any benefits take effect, by a government which has bankrupted Social Security and Medicare, all to be overseen by a surgeon general who is obese and financed by a country that is broke. So what the blank could possibly go wrong?

The religious right is one of the most politically militant voting blocs in the country and the agenda is clear (a gun in every uterus). Time we stopped subsidizing the anti-abortion movement in the form of tax-exemptions.

In the wake of the tax bonanzas for new commercial projects, roadside strips boomed. Private developers responded to the lack of planned centers, public space, and public facilities in suburbs by building malls, office parks, and industrial parks as well as fast-food restaurants and motels.

Ozone therapy is also more effective than antibiotics and is highly preferable because it kills bacteria without wiping out your beneficial gut bacteria or taxing your immune system.

The HSA (Health Savings Account) is a great way to save on premiums. The high deductible creates a much lower premium, and this plan allows you to save for medical expenses in a tax-free savings account.

In vain Pons tried to put in a word; La Cibot talked as the wind blows. Means of arresting steam-engines have been invented, but it would tax a mechanician’s genius to discover any plan for stopping a portress’ tongue.

Almost everything people did throughout history was fuelled by solar energy that was captured by plants and converted into muscle power. Human history was consequently dominated by two main cycles: the growth cycles of plants and the changing cycles of solar energy (day and night, summer and winter). When sunlight was scarce and when wheat fields were still green, humans had little energy. Granaries were empty, tax collectors were idle, soldiers found it difficult to move and fight, and kings tended to keep the peace. When the sun shone brightly and the wheat ripened, peasants harvested the crops and filled the granaries. Tax collectors hurried to take their share. Soldiers flexed their muscles and sharpened their swords. Kings convened councils and planned their next campaigns. Everyone was fuelled by solar energy – captured and packaged in wheat, rice and potatoes.

I use “anticapitalist” because conservative defenders of capitalism regularly say their liberal and socialist opponents are against capitalism. They say efforts to provide a safety net for all people are “anticapitalist.” They say attempts to prevent monopolies are “anticapitalist.” They say efforts that strengthen weak unions and weaken exploitative owners are “anticapitalist.” They say plans to normalize worker ownership and regulations protecting consumers, workers, and environments from big business are “anticapitalist.” They say laws taxing the richest more than the middle class, redistributing pilfered wealth, and guaranteeing basic incomes are “anticapitalist.” They say wars to end poverty are “anticapitalist.” They say campaigns to remove the profit motive from essential life sectors like education, healthcare, utilities, mass media, and incarceration are “anticapitalist.” In doing so, these conservative defenders are defining capitalism. They define capitalism as the freedom to exploit people into economic ruin; the freedom to assassinate unions; the freedom to prey on unprotected consumers, workers, and environments; the freedom to value quarterly profits over climate change; the freedom to undermine small businesses and cushion corporations; the freedom from competition; the freedom not to pay taxes; the freedom to heave the tax burden onto the middle and lower classes; the freedom to commodify everything and everyone; the freedom to keep poor people poor and middle-income people struggling to stay middle income, and make rich people richer. The history of capitalism—of world warring, classing, slave trading, enslaving, colonizing, depressing wages, and dispossessing land and labor and resources and rights—bears out the conservative definition of capitalism.

Commitment can be expressed in many ways. Traditionally it is solidified through marriage, owning property, having kids or wearing certain types of jewelry, but legal, domestic, or ornamental undertakings are not the only ways to show dedication. In a 2018 talk on solo polyamory at the Boulder Non-Monogamy Talk series, Kim Keane offered the following ways that people practicing nonmonogamy can demonstrate commitment to their partners: - Sharing intimate details (hopes, dreams, fears) and being vulnerable with each other. - Introducing partners to people who are important to you. - Helping your partners with moving, packing, homework, job hunting, shopping, etc. - Having regular time together, both mundane and novel. - Making the person a priority. (I suggest defining what 'being a priority' means to each of you.) - Planning trips together. - Being available to partners when they are sick or in need. - Collaborating on projects together. - Having frequent communication. - Offering physical, logistical or emotional support (e.g. at doctor's appointments or hospital visits or by helping with your partners' family, pets, car, children, taxes, etc.).

But, no, really, I had it this time. One of my first Salon essays was about confronting my debt, which had gotten so out of control I had to borrow money from my parents. That was a low moment, but it came with a boost of integrity. A free tax attorney helped me calculate the amount I owed the IRS - $40,000 - and put me on a payment plan. My commitment was seven years, which made me feel like the guy in Shawshank Redemption, tunneling out of prison with a spoon.

Every time something big happens, the cops set up shop like they’re planning to stay there for weeks, and then a few dozen of them just stand around doing nothing until the crisis is over. Your tax dollars at work, ladies and gentlemen.

The next time you drive into a Walmart parking lot, pause for a second to note that this Walmart—like the more than five thousand other Walmarts across the country—costs taxpayers about $1 million in direct subsidies to the employees who don’t earn enough money to pay for an apartment, buy food, or get even the most basic health care for their children. In total, Walmart benefits from more than $7 billion in subsidies each year from taxpayers like you. Those “low, low prices” are made possible by low, low wages—and by the taxes you pay to keep those workers alive on their low, low pay. As I said earlier, I don’t think that anyone who works full-time should live in poverty. I also don’t think that bazillion-dollar companies like Walmart ought to funnel profits to shareholders while paying such low wages that taxpayers must pick up the ticket for their employees’ food, shelter, and medical care. I listen to right-wing loudmouths sound off about what an outrage welfare is and I think, “Yeah, it stinks that Walmart has been sucking up so much government assistance for so long.” But somehow I suspect that these guys aren’t talking about Walmart the Welfare Queen. Walmart isn’t alone. Every year, employers like retailers and fast-food outlets pay wages that are so low that the rest of America ponies up a collective $153 billion to subsidize their workers. That’s $153 billion every year. Anyone want to guess what we could do with that mountain of money? We could make every public college tuition-free and pay for preschool for every child—and still have tens of billions left over. We could almost double the amount we spend on services for veterans, such as disability, long-term care, and ending homelessness. We could double all federal research and development—everything: medical, scientific, engineering, climate science, behavioral health, chemistry, brain mapping, drug addiction, even defense research. Or we could more than double federal spending on transportation and water infrastructure—roads, bridges, airports, mass transit, dams and levees, water treatment plants, safe new water pipes. Yeah, the point I’m making is blindingly obvious. America could do a lot with the money taxpayers spend to keep afloat people who are working full-time but whose employers don’t pay a living wage. Of course, giant corporations know they have a sweet deal—and they plan to keep it, thank you very much. They have deployed armies of lobbyists and lawyers to fight off any efforts to give workers a chance to organize or fight for a higher wage. Giant corporations have used their mouthpiece, the national Chamber of Commerce, to oppose any increase in the minimum wage, calling it a “distraction” and a “cynical effort” to increase union membership. Lobbyists grow rich making sure that people like Gina don’t get paid more. The

The rest of us, on the ·other hand-we members of the protected classes-have grown increasingly· dependent on our welfare programs. In 2020 the federal government spent more than $193 billion on homeowner subsidies, a figure that far exceeded the amount spent on direct housing assistance for low income families ($53 billion). Most families who enjoy those subsidies have six-figure incomes and are white. Poor families lucky enough to live in government-owned apartments of often have to deal with mold and even lead paint, while rich families are claiming the mortgage interest deduction on first and second homes. The lifetime limit for cash welfare to poor parents is five years, but families claiming the mortgage interest deduction may do so for the length of the mortgage, typically thirty years. A fifteen-story public housing tower and a mortgaged suburban home are both government subsidized, but only one looks (and feels) that way. If you count all public benefits offered by the federal government, America's welfare state (as a share of its gross domestic product) is the second biggest in the world, after France's. But that's true only if you include things like government-subsidized retirement benefits provided by employers, student loans and 529 college savings plans, child tax credits, and homeowner subsidies: benefits disproportionately flowing to Americans well above the poverty line. If you put aside these tax breaks and judge the United States solely by the share of its GDP allocated to programs directed at low-income citizens, then our investment in poverty reduction is much smaller than that of other rich nations. The American welfare state is lopsided.

When Bill Archer (R-Tex.) was chairman of the House Ways and Means Committee, he routinely quoted an informal survey of five hundred international companies located in Europe and Japan. These companies were asked, “What would you do in your long-term planning if the United States eliminated all taxes on capital and labor and taxed only personal consumption?” Eighty percent—that’s four hundred out of five hundred companies—said they would build their next plant in America. The remaining 20 percent—the other hundred companies—said they would relocate their business to America altogether.

clever legal rules could keep the state’s voter participation among the lowest in the nation relative to population, and its taxes among the lowest in the nation relative to wealth. Above all, the rules served to hold in check the collective power of those who might want their democracy to do more.

The split has widened because the right has moved right, not because the left has moved left. Republican presidents Eisenhower, Nixon, and Ford all supported the Equal Rights Amendment. In 1960, the GOP platform embraced "free collective bargaining" between management and labor. REpublicans boasted of "extending the minimum wage to several million more workers" and "strengthening the unemployment insurance system and extension of its benefits." Under Dwight Eisenhower, top earners were taxed at 91 percent; in 2015, it was 40 percent. Planned Parenthood has come under serious attack from nearly all Republican presidential candidates running in 2016. Yet a founder of the organization was Peggy Goldwater, wife of the 1968 conservative Republican candidate for president Barry Goldwater. General Eisenhower called for massive invenstment in infrastructure, and now nearly all congressional Republicans see such a thing as frightening government overreach. Ronald Reagan raised the national debt and favored gun control, and now the Republican state legislature of Texas authorizes citizens to "open carry" loaded guns into churches and banks. Conservatives of yesterday seem moderate or liberal today.

Hassan at Arab talks can canvass all satraps and ask that Arab banks back what grand plans Hassan has (dams and canals at Panama, arks and wharfs at Havana - tasks that, as a drawback, warrant what Hassan calls 'a harsh tax plan'). Hassan lacks tact, and (alas) a rajah's blatant sarcasm sparks a flagrant backlash as rampant as a vandal's wrath. Hassan grandstands at a grandstand, as all thralls lash back, wag placards and rant a clamant rant. Arrant gangs clash and start brawls that trash rattan cabanas (what a fracas). A maharajah asks that a hangman hang all bastards and laggards that a lawman can catch.

Underconsumption theory especially appealed to intellectuals. If the rich were wrecking American industry, exploiting tax cuts, and using their economic power to impoverish farmers and laborers, then capitalism was failing. Government, by implication, needed to step in and appoint “experts” to planning boards to jump-start the

If you count all benefits, America’s welfare state (as a share of its gross domestic product) is the second biggest in the world, after France’s. But that’s true only if you include things like government-subsidized retirement benefits provided by employers, student loans and 529 college savings plans, child tax credits, and homeowner subsidies: benefits disproportionately flowing to Americans well above the poverty line. If you put aside these tax breaks and judge the United States solely by the share of its GDP allocated to programs directed at low-income citizens, then our investment in poverty reduction is much smaller than that of other rich nations. The American welfare state is lopsided.[22]

It is one of the many ironies of this period that, at a time when the intelligentsia were excoriating Mellon for tax-evasion, and contrasting the smooth-running Soviet planned economy with the breakdown in America, he was secretly exploiting the frantic necessities of the Soviet leaders to form the basis of one of America's most splendid public collections

Baby Steps: Step 1: $1,000 in an emergency fund. Step 2: Pay off all debt except the house utilizing the debt snowball. Step 3: Three to six months of savings in a fully-funded emergency fund. Step 4: Invest 15% of your household income into Roth IRAs and pre-tax retirement plans. Step 5: College Funding (i.e. 529 plan). Step 6: Pay off your home early. Step 7: Build wealth and give.

The criticism of religion ends with the teaching that man is the highest essence for man – hence, with the categoric imperative to overthrow all relations in which man is a debased, enslaved, abandoned, despicable essence, relations which cannot be better described than by the cry of a Frenchman when it was planned to introduce a tax on dogs: 'Poor dogs! They want to treat you as human beings!

Because there’s such an unbelievable amount that we’re all supposed to be able to cope with these days. You’re supposed to have a job, and somewhere to live, and a family, and you’re supposed to pay taxes and have clean underwear and remember the password to your damn Wi-Fi. Some of us never manage to get the chaos under control, so our lives simply carry on, the world spinning through space at two million miles an hour while we bounce about on its surface like so many lost socks. Our hearts are bars of soap that we keep losing hold of; the moment we relax, they drift off and fall in love and get broken, all in the wink of an eye. We’re not in control. So we learn to pretend, all the time, about our jobs and our marriages and our children and everything else. We pretend we’re normal, that we’re reasonably well educated, that we understand “amortization levels” and “inflation rates.” That we know how sex works. In truth, we know as much about sex as we do about USB leads, and it always takes us four tries to get those little buggers in. (Wrong way round, wrong way round, wrong way round, there! In!) We pretend to be good parents when all we really do is provide our kids with food and clothing and tell them off when they put chewing gum they find on the ground in their mouths. We tried keeping tropical fish once and they all died. And we really don’t know more about children than tropical fish, so the responsibility frightens the life out of us each morning. We don’t have a plan, we just do our best to get through the day, because there’ll be another one coming along tomorrow.

That day, he realized to his surprise, there was time. That day, the war, by taking his maize in a 100 percent tax, had taken away his planned work. However, it had left him time. It had left him with a rare day when his hands were empty, with no maize to protect, no goods to deliver. He would stop grumbling, then. That day, he would not waste any more time on the war or the reform. Or on the lost maize.

It had personally pained Trump not to be able to give it to him. But if the Republican establishment had not wanted Trump, they had not wanted Christie almost as much. So Christie got the job of leading the transition and the implicit promise of a central job—attorney general or chief of staff. But when he was the federal prosecutor in New Jersey, Christie had sent Jared’s father, Charles Kushner, to jail in 2005. Charlie Kushner, pursued by the feds for an income tax cheat, set up a scheme with a prostitute to blackmail his brother-in-law, who was planning to testify against him. Various accounts, mostly offered by Christie himself, make Jared the vengeful hatchet man in Christie’s aborted Trump administration career. It was a kind of perfect sweet-revenge story: the son of the wronged man (or, in this case—there’s little dispute—the guilty-as-charged man) uses his power over the man who wronged his family. But other accounts offer a subtler and in a way darker picture. Jared Kushner, like sons-in-law everywhere, tiptoes around his father-in-law, carefully displacing as little air as possible: the massive and domineering older man, the reedy and pliant younger one. In the revised death-of-Chris-Christie story, it is not the deferential Jared who strikes back, but—in some sense even more satisfying for the revenge fantasy—Charlie Kushner himself who harshly demands his due. It was his daughter-in-law who held the real influence in the Trump circle, who delivered the blow. Ivanka told her father that Christie’s appointment as chief of staff or to any other high position would be extremely difficult for her and her family, and it would be best that Christie be removed from the Trump orbit altogether.

Moreover, poor people are never opposed to big government because they’re exempt from all the annoying things that government does. They’re not worried about taxes: The government is not going to raise any taxes that they pay. They drive unlicensed cars, have no insurance, flee accidents, and couldn’t pay a court judgment anyway. The government doesn’t want to get in touch with the poor for any reason other than to give them things.

Senate Majority Leader Mitch McConnell needs to get business lobbyists in a car and drive them around with a gun to their heads for an hour, explaining: We can give you regulatory reform, OSHA reform, tax relief, tort reform. But if we give you immigration, we won’t be in a position to give you anything else, ever again, and you’ll have to take your chances with Nancy Pelosi. The Chamber of Commerce has got to learn: You can’t have it all.

Everything is going according to plan in this strategically fathomed notion of "country" where the population wholeheartedly believes in that fabled myth known as democracy. The corporations that profit from our endless war campaigns, who have a multifarious number of politicians at the top of their covert letterheads and on payroll always get what they pay for - a route to even more of our tax dollars. The status quo doesn't change with the election of any given politician, whether it be in the Senate, the Congress, or even the White House. This nation (i.e. notion) is, in and of itself, nothing but an ingeniously designed corporation that uses you and I to further perpetuate the myth of country, the myth of united, the myth of democracy, and the myth of patriotism. We have long passed the point where we the people sat on the tongue of this monstrosity. We now reside in the belly of the beast.

While he was pilloried for enforcing a severe regime of punishment to force them to look for jobs, he was trying behind the scenes to persuade the government to take another course entirely. He wanted tax breaks for those on welfare to encourage them to take work. This was his one big idea in the portfolio and he has cited it since as evidence that somewhere inside the Liberal Party the DLP was alive and well. But not very alive: the plan was killed off by Howard.

THE AMERICAN brand of socialism known as the New Deal was made possible by the income tax. But with the advent of income taxation, socialism was unavoidable. There have always been, and perhaps always will be, people who are averse to letting other people alone. Recognizing the human inclination to err, they are impelled by their kindness of heart to overcome this imperfection; invariably they come up with a sure-proof plan that needs only political power to become effective. Political power is the essential ingredient of every one of these plans to improve the human. Since all the ills of mankind, they argue, follow from the exercise of free will, it follows that the only cure for these ills is to suppress free will and to compel the individual to behave in all things as per the perfect pattern devised by these improvers. Compulsion means force; there must be a policeman to see that the individual does not follow his own inclinations. But policemen must live. Since they do not produce a thing by which they can live, others must support them. Hence, the planners must have the means of getting at the production of the very people who are to be improved by the policeman. That means taxes, and the more taxes the greater the number of enforcement agents, and therefore the more comprehensive the plan. No plan can be bigger than its bureaucracy. The income tax is the ideal instrument for the planner.

Even the welfare system was originally planned in the interest of the nation rather than of needy individuals. When Otto von Bismarck pioneered state pensions and social security in late nineteenth-century Germany, his chief aim was to ensure the loyalty of the citizens rather than to increase their well-being. You fought for your country when you were eighteen, and paid your taxes when you were forty, because you counted on the state to take care of you when you were seventy.30

The great cause of the new Republican intake is the reduction of the deficit but to anyone seeking evidence of sincere attempts at deficit-reduction the evidence is baffling. The Republicans showed before Christmas that they would seek to reduce the deficit but not when it came to a matter of the tax breaks that had aggravated the deficit in the first place. Now there's a date set for the abolition of Barack Obama's healthcare plan, parts of which only came into operation at the start of this month. The Republicans are out to destroy the plan. Or, more precisely, to pretend to destroy the plan in the name of making good on election pledges. The measure won't get past the Senate. But suppose it did get past the Senate, what effect would this have on the deficit? The answer is it would aggravate the deficit. Somehow, somewhere, there's an override mechanism that makes destroying Obamacare more important than destroying the deficit. If only one could figure out how it works.

I have been drawn to Milton Friedman’s argument for a negative income tax (NIT) that entirely replaces the existing system of income transfers and social services. The quid pro quo would be that the government withdraw altogether from every other form of interference in the organization of social life. Under such a plan the Department of Health and Human Services would become a check-writing office, and the social service agencies, bureaus, and offices scattered throughout government would close down.

There is a quaint old theory that man may have two souls—a peripheral one which serves ordinarily, and a central one which is stirred only at certain times, but then with activity and vigour. While under the domination of the former a man will shave, vote, pay taxes, give money to his family, buy subscription books and comport himself on the average plan. But let the central soul suddenly become dominant, and he may, in the twinkling of an eye, turn upon the partner of his joys with furious execration; he may change his politics while you could snap your fingers; he may deal out deadly insult to his dearest friend; he may get him, instanter, to a monastery or a dance hall; he may elope, or hang himself—or he may write a song or poem, or kiss his wife unasked, or give his funds to the search of a microbe. Then the peripheral soul will return; and we have our safe, sane citizen again. It is but the revolt of the Ego against Order; and its effect is to shake up the atoms only that they may settle where they belong.

For fiscal policy, the appropriate counterpart to the monetary rule would be to plan expenditure programs entirely in terms of what the community wants to do through government rather than privately, and without any regard to problems of year-to-year economic stability; to plan tax rates so as to provide sufficient revenues to cover planned expenditures on the average of one year with another, again without regard to year-to-year changes in economic stability; and to avoid erratic changes in either governmental expenditures or taxes.

JFK asked his brother, Attorney General Robert Kennedy, to break up organized crime. Nobody high-up in government has tangled the Mafia. J. E. Hoover, the hired hands of FBI and CIA, ran the assassination teams. They have been used since World War II. JFK was attempting to end the oil-tax depletion rip-offs, to get tax money from oil companies. JFK instituted the nuclear test ban treaty, often called “the kiss of death,” to oppose the Pentagon. JFK called off the Invasion of Cuba. He allowed Castro to live, antagonized narcotics and gambling, oil and sugar interests, formerly in Cuba. JFK asked his brother, Attorney General Robert Kennedy, to break up the CIA, the “hidden government behind my back.” Allen Dulles was fired. Dulles, the attorney for international multinationals, was angry. JFK planned to withdraw troops from Vietnam after the 1964 elections. Nov. 24, 1963, two days after JFK’s burial, the Pentagon escalated the Vietnam war … with no known provocations, after JFK was gone. There was no chance Kennedy could survive antagonizing the CIA, oil companies, Pentagon, organized crime. He was not their man. The assassination of JFK employed people from the Texas-Southwest. It was not a Southern plot. Upstarts could not have controlled the northern CIA, FBI, Kennedy family connections. This was a more detailed, sophisticated conspiracy that was to set the pattern for future murders to take place. The murder was funded by Permindex, with headquarters in Montreal and Switzerland. Their stated purpose was to encourage trade between nations in the Western world. Their actual purpose was fourfold: 1) To fund and direct assassinations of European, Mid-East and world leaders considered threats to the western world, and to Petroleum Interests of their backers. 2) Provide couriers, agents for transporting and depositing funds through Swiss Banks for Vegas, Miami and the international gambling syndicate. 3) Coordinate the espionage activities of White Russian Solidarists and Division V of the FBI, headed by William Sullivan. 4) Build, acquire and operate hotels and gambling casinos. See: Nomenclature of an Assassination Cabal, by William Torbitt.

Think about ethanol again. The benefits of that $7 billion tax subsidy are bestowed on a small group of farmers, making it quite lucrative for each one of them. Meanwhile, the costs are spread over the remaining 98 percent of us, putting ethanol somewhere below good oral hygiene on our list of everyday concerns. The opposite would be true with my plan to have left-handed voters pay subsidies to right-handed voters. There are roughly nine right-handed Americans for every lefty, so if every right-handed voter were to get some government benefit worth $100, then every left-handed voter would have to pay $900 to finance it. The lefties would be hopping mad about their $900 tax bills, probably to the point that it became their preeminent political concern, while the righties would be only modestly excited about their $100 subsidy. An adept politician would probably improve her career prospects by voting with the lefties. Here is a curious finding that makes more sense in light of what we‘ve just discussed. In countries where farmers make up a small fraction of the population, such as America and Europe, the government provides large subsidies for agriculture. But in countries where the farming population is relatively large, such as China and India, the subsidies go the other way. Farmers are forced to sell their crops at below-market prices so that urban dwellers can get basic food items cheaply. In the one case, farmers get political favors; in the other, they must pay for them. What makes these examples logically consistent is that in both cases the large group subsidizes the smaller group. In politics, the tail can wag the dog. This can have profound effects on the economy.

It was a grand plan, which would have taxed the imperial treasure to its limits to accomplish. It would have needed more men than the mind can encompass, men to map and men to measure, surveyors, census-takers, painters; it would have taken model-makers, potters, builders, and craftsmen. Six hundred professional dreamers would have been needed to reveal the nature of things hidden beneath the roots of trees, and in the deepest mountain caverns, and in the depths of the sea, for the map, to be worth anything, needed to contain both the visible empire and the invisible.

Goodwill receives a billion pounds of clothing every year. Ultimately, they use less than half of the clothing they get. Clothing is cheap, and the cost of sorting, cleaning, storing, and transporting the clothes is higher than their value. If you wouldn’t give an article to a family member, it’s probably not good enough for charity. Sure, it’s great to get the tax deduction and it makes you feel like you didn’t waste money buying the clothes, but if you’re truly charitable, be sensitive to the needs of the organization. Charities aren’t dumping grounds for your trash.

Central planning inevitably leads to economic chaos and failure. Friedrich Hayek called the delusion that a single person or a group of government planners could possibly possess the knowledge to plan an entire economy a “fatal conceit.” The overwhelming historical evidence is that the more freedom a nation has, the more economic opportunities will exist and the more dynamic that nation’s economy will be. Likewise, the more regulations, controls, taxes, governmentrun industries, protectionism, and other forms of interventionism that exists, the poorer the country will become.

Crane went on to join the Libertarian Party, which had been summoned into being in a Denver living room in December 1971. Its founders sought a world in which liberty was preserved by the total absence of government coercion in any form. That entailed the end of public education, Social Security, Medicare, the U.S. Postal Service, minimum wage laws, prohibitions against child labor, foreign aid, the Environmental Protection Agency, prosecution for drug use or voluntary prostitution—and, in time, the end of taxes and government regulations of any kind.46 And those were just the marquee targets.

I have no criticism of the basic concept of irrefutable authority. Properly employed, it is the easiest, the surest, and the proper way to resolve conflicts. There is an omnipresent temptation, however, to rely on such authority regardless of its applicability; and I know of no better examples than the scriptures and the Constitution. We find it easy to lapse into the expansive notion that the Constitution, like the gospel, embraces all truth and that it protects and guarantees all that is right, equitable, and just. From that grand premise it is only a short and comfortable leap to the proposition that the Constitution embraces my particular notion of what is right, equitable, and just. The Constitution lends itself to this kind of use because of its breadth. Issues such as foreign aid, fluoridation of water, public versus private education, progressive income tax, to which political party I should belong and which candidate I should support; questions about economic development and environmental quality control; questions about the power of labor unions and the influence of big business in government--all these are issues of great importance. But these questions cannot and ought not to be resolved by simply resorting to irrefutable authority. Neither the Constitution nor the scriptures contain answers to these questions, and under the grand plan of eternal progress it is our responsibility to develop our own skills by working out our own answers through our own thought processes. For example, the Constitution authorizes an income tax, but it neither commands nor forbids an income tax. That is a policy issue on which the Constitution--and the scriptures--are silent. Attempting to resolve our differences of opinion by asserting that if our opponents only understood the scriptures or the Constitution they would see that the whole answer is contained therein only results in foreclosing the careful, rational attention that these issues deserve and require. Resorting to several broad provisions of the Constitution in answer to that kind of question is just plain intellectual laziness. We, of all people, have an obligation to respect the Constitution--to respect it not only for what it is and what it does, but also for what it is not and what it does not do. For in this as in other contexts, improper use of that which is grand can only result in the diminution of its grandeur.

On our farm, the food we raised reflected our true cost of production. When we set our prices, we did exactly what every other business in America did... ...why does the food in the supermarkets cost less? ... Much of this food was already discounted, I explained, paid for in advance by government subsidies. Tax dollars, the same taxes that were taken out of my friends' paychecks before they received them, were used to partially pay for this food before it ever arrived at the supermarket. This "cheap" food was expensive, too. Unbeknownst to them, (they) were simply purchasing it on an installment plan.

Henceforth, federal, state, and local governments shall make no law nor establish any program that transfers general tax revenues to some citizens and not to others, whether those transfers consist of money or in-kind benefits. All programs currently providing such benefits are to be terminated. The funds formerly allocated to them are to be used instead to provide every citizen with a Universal Basic Income beginning at age twenty-one and continuing until death. The maximum annual value of the grant at the program’s outset is to be $13,000, of which $3,000 must be devoted to catastrophic health insurance.

The multinational is in the position of the bank robber in the old West; all he has to do is ride straight and hard to be safe, because the posse can’t cross the border. We have taken over the roles that nations recently held; we wage war, collect taxes through debt service, protect our areas of property and the worker/citizens within those areas, and we distribute power as we see fit.” Think of it this way. I am the baron. Templar international and Margrave Corporation and Avalon State Bank and so on are the castles I have built in different parts of my territory, for defense and expansion. The subsidiary companies we’ve bought or merged with owe their allegiance not to America but to Margrave. We reward loyalty and punish disloyalty. When necessary, we can protect our most important people from the laws of the state, just as the earlier barons could protect their most important vassal knights from the laws of the Catholic Church. The work force is tied to us by profit-sharing and pension plans. I don’t expect national governments to disappear, any more than the British or Dutch royal families have disappeared, but they will become increasingly irrelevant pageants. More and more, actors will play the parts of politicians and statesmen, while the real work goes on elsewhere.

Trump continued, “Now, you can say that that’s OK and Hillary can say that that’s OK. But it’s not OK with me, because based on what she’s saying, and based on where she’s going, and where she’s been, you can take the baby and rip the baby out of the womb in the ninth month on the final day. And that’s not acceptable.”34 As improbable as it had once seemed, by the 2020 State of the Union address Trump had proven himself to be a thoroughly pro-life president. He had taken swift and decisive action to limit access to abortion, preventing tax dollars from funding abortions overseas and allowing states to cut federal funds to Planned Parenthood.

New Rule: If you're going to have a rally where hundreds of thousands of people show up, you may as well go ahead and make it about something. With all due respect to my friends Jon Stewart and Stephen Colbert, it seems that if you truly wanted to come down on the side of restoring sanity and reason, you'd side with the sane and the reasonable--and not try to pretend the insanity is equally distributed in both parties. Keith Olbermann is right when he says he's not the equivalent of Glenn Beck. One reports facts; the other one is very close to playing with his poop. And the big mistake of modern media has been this notion of balance for balance's sake, that the left is just as violent and cruel as the right, that unions are just as powerful as corporations, that reverse racism is just as damaging as racism. There's a difference between a mad man and a madman. Now, getting more than two hundred thousand people to come to a liberal rally is a great achievement that gave me hope, and what I really loved about it was that it was twice the size of the Glenn Beck crowd on the Mall in August--although it weight the same. But the message of the rally as I heard it was that if the media would just top giving voice to the crazies on both sides, then maybe we could restore sanity. It was all nonpartisan, and urged cooperation with the moderates on the other side. Forgetting that Obama tried that, and found our there are no moderates on the other side. When Jon announced his rally, he said that the national conversation is "dominated" by people on the right who believe Obama's a socialist, and by people on the left who believe 9/11 was an inside job. But I can't name any Democratic leaders who think 9/11 was an inside job. But Republican leaders who think Obama's socialist? All of them. McCain, Boehner, Cantor, Palin...all of them. It's now official Republican dogma, like "Tax cuts pay for themselves" and "Gay men just haven't met the right woman." As another example of both sides using overheated rhetoric, Jon cited the right equating Obama with Hitler, and the left calling Bush a war criminal. Except thinking Obama is like Hitler is utterly unfounded--but thinking Bush is a war criminal? That's the opinion of Major General Anthony Taguba, who headed the Army's investigation into Abu Ghraib. Republicans keep staking out a position that is farther and farther right, and then demand Democrats meet them in the middle. Which now is not the middle anymore. That's the reason health-care reform is so watered down--it's Bob Dole's old plan from 1994. Same thing with cap and trade--it was the first President Bush's plan to deal with carbon emissions. Now the Republican plan for climate change is to claim it's a hoax. But it's not--I know because I've lived in L.A. since '83, and there's been a change in the city: I can see it now. All of us who live out here have had that experience: "Oh, look, there's a mountain there." Governments, led my liberal Democrats, passed laws that changed the air I breathe. For the better. I'm for them, and not the party that is plotting to abolish the EPA. I don't need to pretend both sides have a point here, and I don't care what left or right commentators say about it, I can only what climate scientists say about it. Two opposing sides don't necessarily have two compelling arguments. Martin Luther King Jr. spoke on that mall in the capital, and he didn't say, "Remember, folks, those southern sheriffs with the fire hoses and the German shepherds, they have a point, too." No, he said, "I have a dream. They have a nightmare. This isn't Team Edward and Team Jacob." Liberals, like the ones on that field, must stand up and be counted, and not pretend we're as mean or greedy or shortsighted or just plain batshit at them. And if that's too polarizing for you, and you still want to reach across the aisle and hold hands and sing with someone on the right, try church.

Everything that is wrong with the inner cities of America that policy can affect, Democrats are responsible for: every killing field; every school that year in and year out fails to teach its children the basic skills they need to get ahead; every school that fails to graduate 30 to 40 percent of its charges while those who do get degrees are often functionally illiterate; every welfare system that promotes dependency, condemning its recipients to lifetimes of destitution; every gun-control law that disarms law-abiding citizens in high-crime areas and leaves them defenseless against predators; every catch-and-release policy that puts violent criminals back on the streets; every regulation that ties the hands of police; every material and moral support provided to antipolice agitators like Black Lives Matter, who incite violence against the only protection inner-city families have; every onerous regulation and corporate tax that drives businesses and jobs out of inner-city neighborhoods; every rhetorical assault that tars Democrats’ opponents as “racists” and “race traitors,” perpetuating a one-party system that denies inner-city inhabitants the leverage and influence of a two-party system. Democrats are responsible for every one of the shackles on inner-city communities, and they have been for 50 to 100 years. What

Even during its earlier good years, when observers spoke of the Ivory Coast's economic "miracle," it was not a completely free-market economy. Even then, its ventures into the kinds of state regulation engaged in more widely by other African nations had not had good results. For example, the availability of "soft" foreign aid loans for centralized government planning of rice production led the Ivory Coast into policies that produced a glut of heavily subsidized rice that taxed the storage capacity of the government, cost the national budget far more than originally planned, and led to consumer prices far above those at which rice was available on the world market.

We had only one thing in common in our family in the Passage, and that was our terror of going hungry. We all had plenty of that. It was with me from my first breath. . . They passed it on to me. . . We were all obsessed with it. . . As far as we were concerned, the soul was fear. In every room the walls sweated fear of going without. . . It made us swallow the wrong way, it made us bolt our meals and run around town like mad. . . we zigzagged like fleas all over Paris, from the Place Maubert to the Etoile, for fear of being auctioned off, for fear of the rent, of the gas man, the tax collector. . . We were always in such a hurry I never had time to wipe myself properly.

Animals, including people, fight harder to prevent losses than to achieve gains. In the world of territorial animals, this principle explains the success of defenders. A biologist observed that “when a territory holder is challenged by a rival, the owner almost always wins the contest—usually within a matter of seconds.” In human affairs, the same simple rule explains much of what happens when institutions attempt to reform themselves, in “reorganizations” and “restructuring” of companies, and in efforts to rationalize a bureaucracy, simplify the tax code, or reduce medical costs. As initially conceived, plans for reform almost always produce many winners and some losers while achieving an overall improvement. If the affected parties have any political influence, however, potential losers will be more active and determined than potential winners; the outcome will be biased in their favor and inevitably more expensive and less effective than initially planned. Reforms commonly include grandfather clauses that protect current stake-holders—for example, when the existing workforce is reduced by attrition rather than by dismissals, or when cuts in salaries and benefits apply only to future workers. Loss aversion is a powerful conservative force that favors minimal changes from the status quo in the lives of both institutions and individuals.

That’s why one of my strongest ideas is to look at the tax code in both its complexity and its obvious bias toward the rich. Hedge fund and money managers are important for our pension funds and the 401(k) plans that help millions of Americans—but far less important than they think. But financial advisers should pay taxes at the highest levels when they’re earning money at those levels. Often, these financial engineers are “flipping” companies, laying people off, and making billions—yes, billions—of dollars by “downsizing” and destroying people’s lives and sometimes entire companies. Believe me, I know the value of a billion dollars—but I also know the importance of a single dollar.

Here’s a Reader’s Digest version of my approach. I select mutual funds that have had a good track record of winning for more than five years, preferably for more than ten years. I don’t look at their one-year or three-year track records because I think long term. I spread my retirement, investing evenly across four types of funds. Growth and Income funds get 25 percent of my investment. (They are sometimes called Large Cap or Blue Chip funds.) Growth funds get 25 percent of my investment. (They are sometimes called Mid Cap or Equity funds; an S&P Index fund would also qualify.) International funds get 25 percent of my investment. (They are sometimes called Foreign or Overseas funds.) Aggressive Growth funds get the last 25 percent of my investment. (They are sometimes called Small Cap or Emerging Market funds.) For a full discussion of what mutual funds are and why I use this mix, go to daveramsey.com and visit MyTotalMoneyMakeover.com. The invested 15 percent of your income should take advantage of all the matching and tax advantages available to you. Again, our purpose here is not to teach the detailed differences in every retirement plan out there (see my other materials for that), but let me give you some guidelines on where to invest first. Always start where you have a match. When your company will give you free money, take it. If your 401(k) matches the first 3 percent, the 3 percent you put in will be the first 3 percent of your 15 percent invested. If you don’t have a match, or after you have invested through the match, you should next fund Roth IRAs. The Roth IRA will allow you to invest up to $5,000 per year, per person. There are some limitations as to income and situation, but most people can invest in a Roth IRA. The Roth grows tax-FREE. If you invest $3,000 per year from age thirty-five to age sixty-five, and your mutual funds average 12 percent, you will have $873,000 tax-FREE at age sixty-five. You have invested only $90,000 (30 years x 3,000); the rest is growth, and you pay no taxes. The Roth IRA is a very important tool in virtually anyone’s Total Money Makeover. Start with any match you can get, and then fully fund Roth IRAs. Be sure the total you are putting in is 15 percent of your total household gross income. If not, go back to 401(k)s, 403(b)s, 457s, or SEPPs (for the self-employed), and invest enough so that the total invested is 15 percent of your gross annual pay. Example: Household Income $81,000 Husband $45,000 Wife $36,000 Husband’s 401(k) matches first 3%. 3% of 45,000 ($1,350) goes into the 401(k). Two Roth IRAs are next, totaling $10,000. The goal is 15% of 81,000, which is $12,150. You have $11,350 going in. So you bump the husband’s 401(k) to 5%, making the total invested $12,250.

Some feel absolutely incapable of ever saying no to other people, even though they know that to say yes means that their own resources will be taxed to the limit or beyond. They feel guilty doing something for themselves or having plans of their own. They are always ready to serve others at the expense of themselves, not because they have transcended their own physical and psychological needs and have become saints, but because they believe that that is what they “should” do to be a “good person.” Sad to say, this often means that they are always helping other people but feel incapable of nourishing or helping themselves. That would be too “selfish,” too self-centered. Thus, they put other people’s feelings first, but for the wrong reasons. Deep down they may be running away from themselves by serving other people, or they may be doing it to gain approval from others or because they were taught and now think that that is the way to be a “good person.” This is a kind of faux selflessness. This behavior can create enormous stress because you are not replenishing your inner resources, nor are you aware of your attachments to the role you have adopted. You can exhaust yourself running around “doing good” and helping others, and in the end be so depleted that you are incapable of doing any good at all and unable to help even yourself. It’s not the doing things for others that is the source of the stress here. It is the lack of peace and harmony in your mind as you engage in doing all the doing.

[James M. Buchanan] directed hostility toward college students, public employees, recipients of any kind of government assistance, and liberal intellectuals. His intellectual lineage went back to such bitter establishment opponents of Populism as the social Darwinists Herbert Spencer and William Graham Sumner. The battle between "the oppressed and their oppressors," as one People's Party publication had termed it in 1892, was redefined in his milieu: "the working masses who produce" became businessmen, and "the favored parasites who prey and fatten on the toil of others" became those who gained anything from government without paying proportional income taxes. "The mighty struggle" became one to hamstring the people who refused to stop making claims on government.

The remedy is to terminate them after the founding generation dies out. Older foundations like Ford should be sunset immediately and its funds distributed to hospitals and other institutions that serve the needy and the poor, recipients for whom the word “charity” was invented. As the tax law is presently designed, the Ford Foundation will exist forever and will be accountable to no one except a self-perpetuating board, which is accountable to no one. This is undemocratic and unacceptable. Republicans have ignored the problems created by this system for far too long. Unless they are prepared to get serious about fighting the war the left has declared, unless the powers of this shadow political universe are checked, the progressives’ march toward a societal transformation cannot be arrested, let alone stopped.

Countries measured their success by the size of their territory, the increase in their population and the growth of their GDP – not by the happiness of their citizens. Industrialised nations such as Germany, France and Japan established gigantic systems of education, health and welfare, yet these systems were aimed to strengthen the nation rather than ensure individual well-being. Schools were founded to produce skilful and obedient citizens who would serve the nation loyally. At eighteen, youths needed to be not only patriotic but also literate, so that they could read the brigadier’s order of the day and draw up tomorrow’s battle plans. They had to know mathematics in order to calculate the shell’s trajectory or crack the enemy’s secret code. They needed a reasonable command of electrics, mechanics and medicine in order to operate wireless sets, drive tanks and take care of wounded comrades. When they left the army they were expected to serve the nation as clerks, teachers and engineers, building a modern economy and paying lots of taxes. The same went for the health system. At the end of the nineteenth century countries such as France, Germany and Japan began providing free health care for the masses. They financed vaccinations for infants, balanced diets for children and physical education for teenagers. They drained festering swamps, exterminated mosquitoes and built centralised sewage systems. The aim wasn’t to make people happy, but to make the nation stronger. The country needed sturdy soldiers and workers, healthy women who would give birth to more soldiers and workers, and bureaucrats who came to the office punctually at 8 a.m. instead of lying sick at home. Even the welfare system was originally planned in the interest of the nation rather than of needy individuals. When Otto von Bismarck pioneered state pensions and social security in late nineteenth-century Germany, his chief aim was to ensure the loyalty of the citizens rather than to increase their well-being. You fought for your country when you were eighteen, and paid your taxes when you were forty, because you counted on the state to take care of you when you were seventy.30 In 1776 the Founding Fathers of the United States established the right to the pursuit of happiness as one of three unalienable human rights, alongside the right to life and the right to liberty. It’s important to note, however, that the American Declaration of Independence guaranteed the right to the pursuit of happiness, not the right to happiness itself. Crucially, Thomas Jefferson did not make the state responsible for its citizens’ happiness. Rather, he sought only to limit the power of the state.

In her book The Government-Citizen Disconnect, the political scientist Suzanne Mettler reports that 96 percent of American adults have relied on a major government program at some point in their lives. Rich, middle-class, and poor families depend on different kinds of programs, but the average rich and middle-class family draws on the same number of government benefits as the average poor family. Student loans look like they were issued from a bank, but the only reason banks hand out money to eighteen-year-olds with no jobs, no credit, and no collateral is because the federal government guarantees the loans and pays half their interest. Financial advisers at Edward Jones or Prudential can help you sign up for 529 college savings plans, but those plans' generous tax benefits will cost the federal government an estimated $28.5 billion between 2017 and 2026. For most Americans under the age of sixty-five, health insurance appears to come from their jobs, but supporting this arrangement is one of the single largest tax breaks issued by the federal government, one that exempts the cost of employer-sponsored health insurance from taxable incomes. In 2022, this benefit is estimated to have cost the government $316 billion for those under sixty-five. By 2032, its price tag is projected to exceed $6oo billion. Almost half of all Americans receive government-subsidized health benefits through their employers, and over a third are enrolled in government-subsidized retirement benefits. These participation rates, driven primarily by rich and middle-class Americans, far exceed those of even the largest programs directed at low income families, such as food stamps (14 percent of Americans) and the Earned Income Tax Credit (19 percent). Altogether, the United States spent $1.8 trillion on tax breaks in 2021. That amount exceeded total spending on law enforcement, education, housing, healthcare, diplomacy, and everything else that makes up our discretionary budget. Roughly half the benefits of the thirteen largest individual tax breaks accrue to the richest families, those with incomes that put them in the top 20 percent. The top I percent of income earners take home more than all middle-class families and double that of families in the bottom 20 percent. I can't tell you how many times someone has informed me that we should reduce military spending and redirect the savings to the poor. When this suggestion is made in a public venue, it always garners applause. I've met far fewer people who have suggested we boost aid to the poor by reducing tax breaks that mostly benefit the upper class, even though we spend over twice as much on them as on the military and national defense.

If you look at the estate planning industry today, the basic strategy begins with identifying the number of heirs. Why? To divide the estate up amongst as many heirs as possible, utilizing all the gift and transfer techniques. One of the first rules of war is to “divide and conquer.” And so, if I'm dividing the assets up, I'm setting that family up for failure. Our findings show that in all too many situations, traditional planning has done more to destroy families than taxes will ever do. Traditional estate planning operates around the four D's: Divide the assets, defer those assets downstream as far as possible, then dump them on what most times are the ill-prepared heirs, and watch those ultimately dissipate. It's been said that only two percent of family wealth ever makes it past the third generation. So I think that's all you need to know about the effectiveness of traditional estate planning.

Rich, middle-class, and poor families depend on different kinds of programs, but the average rich and middle-class family draws on the same number of government benefits as the average poor family. Student loans look like they were issued from a bank, but the only reason banks hand out money to eighteen-year-olds with no jobs, no credit, and no collateral is because the federal government guarantees the loans and pays half their interest. Financial advisers at Edward Jones or Prudential can help you sign up for 529 college savings plans, but those plans’ generous tax benefits will cost the federal government an estimated $28.5 billion between 2017 and 2026. For most Americans under the age of sixty-five, health insurance appears to come from their jobs, but supporting this arrangement is one of the single largest tax breaks issued by the federal government, one that exempts the cost of employer-sponsored health insurance from taxable incomes.

During the year we interviewed him, Dr. South spent more than $70,000 for his most recent motor vehicle purchase, related sales tax, and insurance. Yet for the same period, how much did he place in his pension plan? About $5,700! In other words, only about $1 in every $125 of his income was set aside for retirement. The amount of time Dr. South took to find the best deal on his car was also counterproductive. We estimated that it took him more than sixty hours to study, negotiate, and purchase his Porsche. How much time and effort does it take someone to place money in a pension plan? A small fraction of this time and energy. It is easy for Dr. South to say he wants to accumulate wealth, but his actions speak much louder than his words. Perhaps that explains why he has lost a considerable amount of wealth through imprudent investing. Investing when one has little or no intellectual basis for one’s decisions often translates into major losses. T

• Auto and Homeowner Insurance—Choose higher deductibles in order to save on premiums. With high liability limits, these are the best buys in the insurance world. • Life Insurance—Purchase twenty-year level term insurance equal to about ten times your income. Term insurance is cheap and the only way to go; never use life insurance as a place to save money. • Long-Term Disability—If you are thirty-two years old, you are twelve times more likely to become disabled than to die by age sixty-five. The best place to buy disability insurance is through work at a fraction of the cost. You can usually get coverage that equals from 50 to 70 percent of your income. • Health Insurance—The number one cause of bankruptcy today is medical bills; number two is credit cards. One way to control costs is to look for large deductibles to lower your premium. The HSA (Health Savings Account) is a great way to save on premiums. The high deductible creates a much lower premium, and this plan allows you to save for medical expenses in a tax-free savings account.

When the pandemic shut down global travel and the world’s business economy, and when the secular media, including social media giants, rejoiced with Joe Biden being in the White House, a new phrase was being written and reported publicly, “The New Global Reset.” In the past, the same concepts presented in the Great Global Reset Manifesto were called “The New World Order” or “The Globalist Agenda.” However, among knowledgeable conservatives, these older phrases were code words indicating the eventual loss of numerous freedoms that America has enjoyed, leading the nation like sheep to the slaughterhouse, causing Americans to submit to global rules and pay global taxes, allowing self-appointed rich elitists to rule over them. There is a movement to limit religious freedom by banning certain content in minister’s messages, opposing any opinions that are opposite to the manifest of this new system. Progressives have learned that confiscating guns will lead to a revolt. Their plan is to control the sale and distribution of ammo. Without ammunition, a gun is useless.

THE ONLY THING THAT STANDS BETWEEN AMERICA AND OBLIVION IS A TOTAL immigration moratorium. There’s no possibility of quick fixes. The entire immigration bureaucracy has to be shut down. It’s evident that the government can’t be trusted to use three brain cells in admitting immigrants, so its discretion has to be completely revoked. No matter how clearly laws are written, government bureaucrats connive to confer citizenship on people that a majority of Americans would not want to let in as tourists, much less as our fellow citizens. Instead of trying to do the “Sorcerer’s Apprentice” thing, mopping the floor while the water is still pouring in, we need to stop the inflow, then take time to assimilate the immigrants already here. No other fix will work. Congress could just insist that immigrants pay taxes, learn English, not collect welfare, and have good moral character, except the problem is: It already has. All those laws were swept away by INS officials, judges, and Democratic administrations. Doing it again won’t produce a different result. We trusted the government, and it screwed up.

You’ll recall from our trip to the Serengeti that a fight-or-flight stress response starts when you recognize an external threat. Your brain and body then go into the self-defense mode of attack or escape. The pause-and-plan response differs in one very crucial way: It starts with the perception of an internal conflict, not an external threat. You want to do one thing (smoke a cigarette, supersize your lunch, visit inappropriate websites at work), but know you shouldn’t. Or you know you should do something (file your taxes, finish a project, go to the gym), but you’d rather do nothing. This internal conflict is its own kind of threat: Your instincts are pushing you toward a potentially bad decision. What’s needed, therefore, is protection of yourself by yourself. This is what self-control is all about. The most helpful response will be to slow you down, not speed you up (as a fight-or-flight response does). And this is precisely what the pause-and-plan response does. The perception of an internal conflict triggers changes in the brain and body that help you slow down and control your impulses. THIS

Antidemocracy, executive predominance, and elite rule are basic elements of inverted totalitarianism. Antidemocracy does not take the form of overt attacks upon the idea of government by the people. Instead, politically it means encouraging what I have earlier dubbed “civic demobilization,” conditioning an electorate to being aroused for a brief spell, controlling its attention span, and then encouraging distraction or apathy. The intense pace of work and the extended working day, combined with job insecurity, is a formula for political demobilization, for privatizing the citizenry. It works indirectly. Citizens are encouraged to distrust their government and politicians; to concentrate upon their own interests; to begrudge their taxes; and to exchange active involvement for symbolic gratifications of patriotism, collective self-righteousness, and military prowess. Above all, depoliticization is promoted through society’s being enveloped in an atmosphere of collective fear and of individual powerlessness: fear of terrorists, loss of jobs, the uncertainties of pension plans, soaring health costs, and rising educational expenses.

The average household income in America is right around $50,000 per year, according to the Census Bureau. Joe and Suzy Average would invest $7,500 (15 percent) per year or $625 per month. If you make $50,000 per year and have no payments except the house mortgage and live on a budget, can you invest $625 per month? Follow me here. If Joe and Suzy invest $625 per month with no match into Roth IRAs from age thirty to age seventy, they will have $7,588,545 tax-FREE! That is almost $8 million. What if I’m half-wrong? What if you end up with only $4 million? What if I’m six times wrong? Sure beats the 97 out of 100 sixty-five-year-olds who can’t write a check for $600! I would submit to you that Joe and Suzy are well below average. Why? In our example they started at the average household income in America, and in forty years of work never got a raise. They saved 15 percent of income and never increased it by one dollar. There is no excuse to retire without financial dignity in the United States today. Most of you will have well over $2 million pass through your hands in your working lifetime, so do something about catching some of that money. Gayle asked me one day if it was too late for her to start saving. Gayle wasn’t twenty-seven like Joe and Suzy. She was fifty-seven years old, but with her attitude you would have thought this lady was 107. Harold Fisher had a much better outlook at age one hundred than Gayle did at age fifty-seven. Life had dealt her some blows and had knocked most of the hope out of her. A Total Money Makeover is not a magic show. You start where you are, and you do the steps. These steps work if you are twenty-seven or fifty-seven, and they don’t change. Gayle might be starting the retirement investing step at sixty that Joe and Suzy start at thirty years old. Gayle was unwise to enter her sixties without an emergency fund and with credit-card debt and a car payment. She, like all of us, couldn’t save when she has debt and no umbrella for when it rains. Would it have been better for Gayle to start when she was twenty-seven or even forty-seven? Obviously. But once she was done with the pity party, she still needed to start with Baby Step One and follow The Total Money Makeover step-by-step to put herself in the best position possible.

Gomi. Thirty-five percent of the landmass of Tokyo was built on gomi, on level tracts reclaimed from the Bay through a century's systematic dumping. Gomi, there, was a resource to be managed, to be collected, carefully plowed under. London's relationship to gomi was more subtle, more oblique. To Kumiko's eyes, the bulk of the city consisted of gomi, of structures the Japanese economy would long ago have devoured in its relentless hunger for space in which to build. Yet these structures revealed, even to Kumiko, the fabric of time, each wall patched by generation of hands in an ongoing task of restoration. The English valued their gomi in its own right, in a way she had only begun to understand; they inhabited it. Gomi in the Sprawl was something else: a rich humus, a decay that sprouted prodigies in steel and polymer. The apparent lack of planning alone was enough to dizzy her, running so entirely opposite the value her own culture placed on efficient land use. Her tax ride from the airport had already shown her decay, whole blocks in ruins, unglazed windows gaping above sidewalks heaped with trash. And faces staring as the armoed hover made its way through the streets.

And the sound of my own washer and dryer interfered with my sleep. So I just threw away my dirty underpants. All the old pairs reminded me of Trevor, anyway. For a while, tacky lingerie from Victoria’s Secret kept showing up in the mail—frilly fuchsia and lime green thongs and teddies and baby-doll nightgowns, each sealed in a clear plastic Baggie. I stuffed the little Baggies into the closet and went commando. An occasional package from Barneys or Saks provided me with men’s pajamas and other things I couldn’t remember ordering—cashmere socks, graphic T-shirts, designer jeans. I took a shower once a week at most. I stopped tweezing, stopped bleaching, stopped waxing, stopped brushing my hair. No moisturizing or exfoliating. No shaving. I left the apartment infrequently. I had all my bills on automatic payment plans. I’d already paid a year of property taxes on my apartment and on my dead parents’ old house upstate. Rent money from the tenants in that house showed up in my checking account by direct deposit every month. Unemployment was rolling in as long as I made the weekly call into the automated service and pressed “1” for “yes” when the robot asked if I’d made a sincere effort to find a job.

suggest funding college, or at least the first step of college, with an Educational Savings Account (ESA), funded in a growth-stock mutual fund. The Educational Savings Account, nicknamed the Education IRA, grows tax-free when used for higher education. If you invest $2,000 a year from birth to age eighteen in prepaid tuition, that would purchase about $72,000 in tuition, but through an ESA in mutual funds averaging 12 percent, you would have $126,000 tax-free. The ESA currently allows you to invest $2,000 per year, per child, if your household income is under $220,000 per year. If you start investing early, your child can go to virtually any college if you save $166.67 per month ($2,000/year). For most of you, Baby Step Five is handled if you start an ESA fully funded and your child is under eight. If your children are older, or you have aspirations of expensive schools, graduate school, or PhD programs that you pay for, you will have to save more than the ESA will allow. I would still start with the ESA if the income limits don’t keep you out. Start with the ESA because you can invest it anywhere, in any fund or any mix of funds, and change it at will. It is the most flexible, and you have the most control.

Then, in 1950, Andy became something more than a model prisoner. In 1950, he became a valuable commodity, a murderer who did tax-returns better than H & R Block. He gave gratis estate-planning advice, set up tax-shelters, filled out loan applications (sometimes creatively). I can remember him sitting behind his desk in the library, patiently going over a car-loan agreement paragraph by paragraph with a screwhead who wanted to buy a used DeSoto, telling the guy what was good about the agreement and what was bad about it, explaining to him that it was possible to shop for a loan and not get hit quite so bad, steering him away from the finance companies, which in those days were sometimes little better than legal loan-sharks. When he’d finished, the screwhead started to put out his hand . . . and then drew it back to himself quickly. He’d forgotten for a moment, you see, that he was dealing with a mascot, not a man. Andy kept up on the tax laws and the changes in the stock market, and so his usefulness didn’t end after he’d been in cold storage for awhile, as it might have done. He began to get his library money, his running war with the sisters had ended, and nobody tossed his cell very hard. He was a good nigger.

By seeing what triggers procrastination, and then making a plan to flip those triggers, doing your taxes becomes attractive. If I found myself putting off doing my taxes, I might sit down and make a plan to changes those triggers. For example, if the trigger is: • Boring: I go to my favorite café for an afternoon on Saturday to do my taxes over a fancy drink while doing some people watching. • Frustrating: I bring a book to the same café, and set a timer on my phone to limit myself to working on my taxes for thirty minutes—and only work for longer if I’m on a roll and feel like going on. • Difficult: I research the tax process to see what steps I need to follow, and what paperwork I need to gather. And I visit the café during my Biological Prime Time, when I’ll naturally have more energy. • Unstructured or Ambiguous: I make a detailed plan from my research that has the very next steps I need to take to do them. • Lacking in Personal Meaning: If I expect to get a refund, think about how much money I will get back, and make a list of the meaningful things I’ll spend that money on. • Lacking in Intrinsic Rewards: For every fifteen minutes I spend on my taxes, I set aside $2.50 to treat myself or reward myself in some meaningful way for reaching milestones.

THE JOURNEY BACK from Regium to Rome was easier than our progress south had been, for by now it was early spring, and the mainland soft and welcoming. Not that we had much opportunity to admire the birds and flowers. Cicero worked every mile of the way, swaying and pitching in the back of his covered wagon, as he assembled the outline of his case against Verres. I would fetch documents from the baggage cart as he needed them and walk along at the rear of his carriage taking down his dictation, which was no easy feat. His plan, as I understood it, was to separate the mass of evidence into four sets of charges — corruption as a judge, extortion in collecting taxes and official revenues, the plundering of private and municipal property, and finally, illegal and tyrannical punishments. Witness statements and records were grouped accordingly, and even as he bounced along, he began drafting whole passages of his opening speech. (Just as he had trained his body to carry the weight of his ambition, so he had, by effort of will, cured himself of travel sickness, and over the years he was to do a vast amount of work while journeying up and down Italy.) In this manner, almost without his noticing where he was, we completed the trip in less than a fortnight and came at last to Rome on the Ides of March,

Why, Dolly!" said Margaret, placidly kissing her. "Here's a surprise! How are the boys and the baby?" Boys and the baby were well, and in describing a great row that there had been at the Hilton Tennis Club, Dolly forgot her news. The wrong people had tried to get in. The rector, as representing the older inhabitants, had said—Charles had said—the tax-collector had said—Charles had regretted not saying—and she closed the description with, "But lucky you, with four courts of your own at Midhurst." "It will be very jolly," replied Margaret. "Are those the plans? Does it matter my seeing them?" "Of course not." "Charles has never seen the plans." "They have only just arrived. Here is the ground floor—no, that's rather difficult. Try the elevation, We are to have a good many gables and a picturesque sky-line." "What makes it smell so funny?" said Dolly, after a moment's inspection. She was incapable of understanding plans or maps. "I suppose the paper." "And WHICH way up is it?" "Just the ordinary way up. That's the sky-line and the part that smells strongest is the sky." "Well, ask me another. Margaret—oh—what was I going to say? How's Helen?" "Quite well." "Is she never coming back to England? Every one thinks it's awfully odd she doesn't." "So it is," said Margaret, trying to conceal her vexation. She was getting rather sore on this point. "Helen is odd, awfully.

My Future Self My future self and I become closer and closer as time goes by. I must admit that I neglected and ignored her until she punched me in the gut, grabbed me by the hair and turned my butt around to introduce herself. Well, at least that’s what it felt like every time I left the convalescent hospital after doing skills training for a certification I needed to help me start my residential care business. I was going to be providing specialized, 24/7 residential care and supervising direct care staff for non-verbal, non-ambulatory adult men in diapers! I ran to the Red Cross and took the certified nurse assistant class so I would at least know something about the job I would soon be hiring people to do and to make sure my clients received the best care. The training facility was a Medicaid hospital. I would drive home in tears after seeing what happens when people are not able to afford long-term medical care and the government has to provide that care. But it was seeing all the “young” patients that brought me to tears. And I had thought that only the elderly lived like this in convalescent hospitals…. I am fortunate to have good health but this experience showed me that there is the unexpected. So I drove home each day in tears, promising God out loud, over and over again, that I would take care of my health and take care of my finances. That is how I met my future self. She was like, don’t let this be us girlfriend and stop crying! But, according to studies, we humans have a hard time empathizing with our future selves. Could you even imagine your 30 or 40 year old self when you were in elementary or even high school? It’s like picturing a stranger. This difficulty explains why some people tend to favor short-term or immediate gratification over long-term planning and savings. Take time to picture the life you want to live in 5 years, 10 years, and 40 years, and create an emotional connection to your future self. Visualize the things you enjoy doing now, and think of retirement saving and planning as a way to continue doing those things and even more. However, research shows that people who interacted with their future selves were more willing to improve savings. Just hit me over the head, why don’t you! I do understand that some people can’t even pay attention or aren’t even interested in putting money away for their financial future because they have so much going on and so little to work with that they feel like they can’t even listen to or have a conversation about money. But there are things you’re doing that are not helping your financial position and could be trouble. You could be moving in the wrong direction. The goal is to get out of debt, increase your collateral capacity, use your own money in the most efficient manner and make financial decisions that will move you forward instead of backwards. Also make sure you are getting answers specific to your financial situation instead of blindly guessing! Contact us. We will be happy to help!

If you are stuck in circumstances in which it takes Herculean efforts to get through the day— doing low-income work, obeying an authoritarian boss, buying clothes for the children, dealing with school issues, paying the rent or mortgage, fixing the car, negotiating with a spouse, paying taxes, and caring for older parents— it is not easy to pay close attention to larger political issues. Indeed you may wish that these issues would take care of themselves. It is not a huge jump from such a wish to become attracted to a public philosophy, spouted regularly at your job and on the media, that economic life would regulate itself automatically if only the state did not repeatedly intervene in it in clumsy ways. Now underfunded practices such as the license bureau, state welfare, public health insurance, public schools, public retirement plans, and the like begin to appear as awkward, bureaucratic organizations that could be replaced or eliminated if only the rational market were allowed to take care of things impersonally and quietly, as it were. Certainly such bureaucracies are indeed often clumsy. But more people are now attracted to compare that clumsiness to the myth of how an impersonal market would perform if it took on even more assignments and if state regulation of it were reduced even further. So a lot of “independents” and “moderates” may become predisposed to the myth of the rational market in part because the pressures of daily life encourage them to seek comfort in ideological formations that promise automatic rationality.

In the meantime Chancellor Schleicher went about—with an optimism that was myopic, to say the least—trying to establish a stable government. On December 15 he made a fireside broadcast to the nation begging his listeners to forget that he was a general and assuring them that he was a supporter “neither of capitalism nor of socialism” and that to him “concepts such as private economy or planned economy have lost their terrors.” His principal task, he said, was to provide work for the unemployed and get the country back on its economic feet. There would be no tax increase, no more wage cuts. In fact, he was canceling the last cut in wages and relief which Papen had made. Furthermore, he was ending the agricultural quotas which Papen had established for the benefit of the large landowners and instead was launching a scheme to take 800,000 acres from the bankrupt Junker estates in the East and give them to 25,000 peasant families. Also prices of such essentials as coal and meat would be kept down by rigid control. This was a bid for the support of the very masses which he had hitherto opposed or disregarded, and Schleicher followed it up with conversations with the trade unions, to whose leaders he gave the impression that he envisaged a future in which organized labor and the Army would be twin pillars of the nation. But labor was not to be taken in by a man whom it profoundly mistrusted, and it declined its co-operation. The industrialists and the big landowners, on the other hand, rose up in arms against the new Chancellor’s program, which they clamored was nothing less than Bolshevism. The businessmen were aghast at Schleicher’s sudden friendliness to the unions. The owners of large estates were infuriated at his reduction of agricultural protection and livid at the prospect of his breaking up the bankrupt estates in the East. On

Smart Sexy Money is About Your Money As an accomplished entrepreneur with a history that spans more than fourteen years, Annette Wise is constantly looking for ways to give back to her community. Using enterprising efforts, she qualified for $125,000 in startup funding to develop a specialized residential facility that allows developmentally disabled adults to live in the community after almost a lifetime of living in a state institution. In doing so, she has provided steady employment in her community for the last thirteen years. After dedicating years to her residential facility, Annette began to see clearly the difficulty business owners face in planning for retirement successfully. Searching high and low to find answers, she took control of financial uncertainty and in less than 2 years, she became a Full Life Agent, licensed Registered Representative, Investment Advisor Representative and Limited Principal. Her focus is on building an extensive list of clients that depend on her for smart retirement guidance, thorough college planning, detailed business continuation, and business exit strategies. Clients have come to rely on Annette for insight on tax advantaged savings and retirement options. Annette’s primary goal is to help her clients understand more than just concepts, but to easily understand how money works, the consequences of their decisions and how they work in conjunction with their desires and goal. Ever the curious soul who is always up for a challenge, Annette is routinely resourceful at finding sensible means to a sometimes-challenging end. She believes in infinite possibilities as well as in sharing her knowledge with others. She is the go-to source for “Smart Wealth Solutions.” Among Annette’s proudest accomplishments are her two wonderful sons, Michael III and Matthew. As a single mom, they have been her inspiration and joy. She is forever grateful to the greatest brothers in the world- Andrew and Anthony Wise, for assistance in grooming them into amazing young men.

So it needs saying from the outset that it’s always very easy to declare that other people are idiots, but only if you forget how idiotically difficult being human is. Especially if you have other people you’re trying to be a reasonably good human being for. Because there’s such an unbelievable amount that we’re all supposed to be able to cope with these days. You’re supposed to have a job, and somewhere to live, and a family, and you’re supposed to pay taxes and have clean underwear and remember the password to your damn Wi-Fi. Some of us never manage to get the chaos under control, so our lives simply carry on, the world spinning through space at two million miles an hour while we bounce about on its surface like so many lost socks. Our hearts are bars of soap that we keep losing hold of; the moment we relax, they drift off and fall in love and get broken, all in the wink of an eye. We’re not in control. So we learn to pretend, all the time, about our jobs and our marriages and our children and everything else. We pretend we’re normal, that we’re reasonably well educated, that we understand “amortization levels” and “inflation rates.” That we know how sex works. In truth, we know as much about sex as we do about USB leads, and it always takes us four tries to get those little buggers in. (Wrong way round, wrong way round, wrong way round, there! In!) We pretend to be good parents when all we really do is provide our kids with food and clothing and tell them off when they put chewing gum they find on the ground in their mouths. We tried keeping tropical fish once and they all died. And we really don’t know more about children than tropical fish, so the responsibility frightens the life out of us each morning. We don’t have a plan, we just do our best to get through the day, because there’ll be another one coming along tomorrow. Sometimes it hurts, it really hurts, for no other reason than the fact that our skin doesn’t feel like it’s ours. Sometimes we panic, because the bills need paying and we have to be grown-up and we don’t know how, because it’s so horribly, desperately easy to fail at being grown-up. Because everyone loves someone, and anyone who loves someone has had those desperate nights where we lie awake trying to figure out how we can afford to carry on being human beings. Sometimes that makes us do things that seem ridiculous in hindsight, but which felt like the only way out at the time.

Collateral Capacity or Net Worth? If young Bill Gates had knocked on your door asking you to invest $10,000 in his new company, Microsoft, could you get your hands on the money? Collateral capacity is access to capital. Your net worth is irrelevant if you can’t access any of the money. Collateral capacity is my favorite wealth concept. It’s almost like having a Golden Goose! Collateral can help a borrower secure loans. It gives the lender the assurance that if the borrower defaults on the loan, the lender can repossess the collateral. For example, car loans are secured by cars, and mortgages are secured by homes. Your collateral capacity helps you to avoid or minimize unnecessary wealth transfers where possible, and accumulate an increasing pool of capital providing accessibility, control and uninterrupted compounding. It is the amount of money that you can access through collateralizing a loan against your money, allowing your money to continue earning interest and working for you. It’s very important to understand that accessibility, control and uninterrupted compounding are the key components of collateral capacity. It’s one thing to look good on paper, but when times get tough, assets that you can’t touch or can’t convert easily to cash, will do you little good. Three things affect your collateral capacity: ① The first is contributions into savings and investment accounts that you can access. It would be wise to keep feeding your Golden Goose. Often the lure of higher return potential also brings with it lack of liquidity. Make sure you maintain a good balance between long-term accounts and accounts that provide immediate liquidity and access. ② Second is the growth on the money from interest earned on the money you have in your account. Some assets earn compound interest and grow every year. Others either appreciate or depreciate. Some accounts could be worth a great deal but you have to sell or close them to access the money. That would be like killing your Golden Goose. Having access to money to make it through downtimes is an important factor in sustaining long-term growth. ③ Third is the reduction of any liens you may have against these accounts. As you pay off liens against your collateral positions, your collateral capacity will increase allowing you to access more capital in the future. The goose never quit laying golden eggs – uninterrupted compounding. Years ago, shortly after starting my first business, I laughed at a banker that told me I needed at least $25,000 in my business account in order to borrow $10,000. My business owner friends thought that was ridiculously funny too. We didn’t understand collateral capacity and quite a few other things about money.

When the routines and circumstances of your life are set up so that your lifestyle is a good fit for your natural preferences, it can give you a feeling of being in equilibrium. This will help prevent you from getting overwhelmed by anxiety on a regular basis. And by arranging your life to suit your temperament, you’ll have the time to process and calm down from life events that make you feel anxious. Some areas in which you can set up your life to fit your temperament are: --Have the right level of busyness in your life. For example, have enough after-work or weekend activities to keep you feeling calmly stimulated but not overstimulated and scattered. Note that being understimulated (for example, having too few enjoyable activities to look forward to) can be as much of a problem as being overstimulated. --Pick the physical activity level that’s right for you. Fine-tuning your physical activity level could be as simple as getting up from your desk and taking a walk periodically to keep yourself feeling calm and alert. Lifting things (such as carrying shopping bags up stairs) can also increase feelings of alertness and energy. Having pleasurable activities to look forward to and enough physical activity will help protect you against depression. --Have the right level of social contact in your life, and have routines that put this on autopilot. For example, a routine of having drinks after work on a Friday with friends, or attending a weekly class with your sister. Achieving the right level of social contact might also include putting mechanisms in place to avoid too much social interruption, like having office hours rather than an open-door policy. --Keep a balance of change and routine in your life. For example, alternate going somewhere new for your vacation vs. returning to somewhere you know you like. What the right balance of change and routine is for you will depend on your natural temperament and how much change vs. stability feels good to you. --Allow yourself the right amount of mental space to work up to doing something—enough time that you can do some mulling over the prospect of getting started but not so much time that it starts to feel like avoidance of getting started. --If coping with change sucks up a lot of energy for you, be patient with yourself, especially if you’re feeling stirred up by change or a disruption to your routines or plans. As mentioned in Chapter 2, keep some habits and relationships consistent when you’re exploring change in other areas. --Have self-knowledge of what types of stress you find most difficult to process. Don’t voluntarily expose yourself to those types without considering alternatives. For example, if you want a new house and you know you get stressed out by making lots of decisions, then you might choose to buy a house that’s already built, rather than building your own home. If you know making home-improvement decisions is anxiety provoking for you, you might choose to move to a house that’s new or recently renovated, rather than doing any major work on your current home or buying a fixer-upper. There’s always a balance with avoidance coping, where some avoidance of the types of stress that you find most taxing can be very helpful.

Indian Express (Indian Express) - Clip This Article at Location 721 | Added on Sunday, 30 November 2014 20:28:42 Fifth column: Hope and audacity Ministers, high officials, clerks and peons now report for duty on time and are no longer to be seen taking long lunch breaks to soak in winter sunshine in Delhi’s parks. Reform is needed not just in economic matters but in every area of governance. Does the Prime Minister know how hard it is to get a passport? Tavleen Singh | 807 words At the end of six months of the Modi sarkar are we seeing signs that it is confusing efficiency with reform? I ask the question because so far there is no sign of real reform in any area of governance. And, because some of Narendra Modi’s most ardent supporters are now beginning to get worried. Last week I met a man who dedicated a whole year to helping Modi become Prime Minister and he seemed despondent. When I asked how he thought the government was doing, he said he would answer in the words of the management guru Peter Drucker, “There is nothing quite so useless as doing with great efficiency something that should not be done at all.” We can certainly not fault this government on efficiency. Ministers, high officials, clerks and peons now report for duty on time and are no longer to be seen taking long lunch breaks to soak in winter sunshine in Delhi’s parks. The Prime Minister’s Office hums with more noise and activity than we have seen in a decade but, despite this, there are no signs of the policy changes that are vital if we are to see real reform. The Planning Commission has been abolished but there are many, many other leftovers from socialist times that must go. Do we need a Ministry of Information & Broadcasting in an age when the Internet has made propaganda futile? Do we need a meddlesome University Grants Commission? Do we need the government to continue wasting our money on a hopeless airline and badly run hotels? We do not. What we do need is for the government to make policies that will convince investors that India is a safe bet once more. We do not need a new government that simply implements more efficiently bad policies that it inherited from the last government. It was because of those policies that investors fled and the economy stopped growing. Unless this changes through better policies, the jobs that the Prime Minister promises young people at election rallies will not come. So far signals are so mixed that investors continue to shy away. The Finance Minister promises to end tax terrorism but in the next breath orders tax inspectors to go forth in search of black money. Vodafone has been given temporary relief by the courts but the retroactive tax remains valid. And, although we hear that the government has grandiose plans to improve the decrepit transport systems, power stations and ports it inherited, it continues to refuse to pay those who have to build them. The infrastructure industry is owed more than Rs 1.5 lakh continued... crore in government dues and this has crippled major companies. No amount of efficiency in announcing new projects will make a difference unless old dues are cleared. Reform is needed not just in economic matters but in every area of governance. Does the Prime Minister know how hard it is to get a passport? Does he know that a police check is required even if you just want to get a few pages added to your passport? Does he know how hard it is to do routine things like registering property? Does he know that no amount of efficiency will improve healthcare services that are broken? No amount of efficiency will improve educational services that have long been in terminal decline because of bad policies and interfering officials. At the same time, the licence raj that strangles private investment in schools and colleges remains in place. Modi’s popularity with ordinary people has increased since he became Prime Minister, as we saw from his rallies in Kashmir last week, but it will not la

there were growing pains. Warren Harding addressed the unemployment and lack of growth with a response America would never see again. “We will attempt intelligent and courageous deflation,” he said at the 1920 Republican Convention, “and strike at government borrowing which enlarges the evil.” The rest of the passage is astounding to the modern ear: We promise that relief which will attend the halting of waste and extravagance, and the renewal of the practice of public economy, not alone because it will relieve tax burdens but because it will be an example to stimulate thrift and economy in private life. Let us call to all the people for thrift and economy, for denial and sacrifice if need be, for a nationwide drive against extravagance and luxury, to a recommitment to simplicity of living, to that prudent and normal plan of life which is the health of the republic. There hasn’t been a recovery from the waste and abnormalities of war since the story of mankind was first written, except through work and saving, through industry and denial, while needless spending and heedless extravagance have marked every decay in the history of nations.

This is most uncalled-for. Couldn’t you have arranged a less awkward time?” ONLY BY CONSULTATION WITH YOUR MURDERER. “It all seems very badly organized. I wish to make a complaint. I pay my taxes, after all.” I AM DEATH, NOT TAXES. I TURN UP ONLY ONCE. The shade of Mr. Hopkinson began to fade. “It’s simply that I’ve always tried to plan ahead in a sensible way…” I FIND THE BEST APPROACH IS TO TAKE LIFE AS IT COMES. “That seems very irresponsible…” IT’S ALWAYS WORKED FOR ME.

To maximize the return of your taxable account, you want to minimize the taxes you pay.

EARNINGS McDonald's Plans Marketing Push as Profit Slides By Julie Jargon | 436 words Associated Press The burger giant has been struggling to maintain relevance among younger consumers and fill orders quickly in kitchens that have grown overwhelmed with menu items. McDonald's Corp. plans a marketing push to emphasize its fresh-cooked breakfasts as it battles growing competition for the morning meal. Competition at breakfast has heated up recently as Yum Brands Inc.'s Taco Bell entered the business with its new Waffle Taco last month and other rivals have added or discounted breakfast items. McDonald's Chief Executive Don Thompson said it hasn't yet noticed an impact from Taco Bell's breakfast debut, but that the overall increased competition "forces us to focus even more on being aggressive in breakfast." Mr. Thompson's comments came after McDonald's on Tuesday reported that its profit for the first three months of 2014 dropped 5.2% from a year earlier, weaker than analysts' expectations. Comparable sales at U.S. restaurants open more than a year declined 1.7% for the quarter and 0.6% for March, the fifth straight month of declines in the company's biggest market. Global same-store sales rose 0.5% for both the quarter and month. Mr. Thompson acknowledged again that the company has lost relevance with some customers and needs to strengthen its menu offerings. He emphasized Tuesday that McDonald's is focused on stabilizing key markets, including the U.S., Germany, Australia and Japan. The CEO said McDonald's has dominated the fast-food breakfast business for 35 years, and "we don't plan on giving that up." The company plans in upcoming ads to inform customers that it cooks its breakfast, unlike some rivals. "We crack fresh eggs, grill sausage and bacon," Mr. Thompson said. "This is not a microwave deal." Beyond breakfast, McDonald's also plans to boost marketing of core menu items such as Big Macs and french fries, since those core products make up 40% of total sales. To serve customers more quickly, the chain is working to optimize staffing, and is adding new prep tables that let workers more efficiently add new toppings when guests want to customize orders. McDonald's also said it aims to sell more company-owned restaurants outside the U.S. to franchisees. Currently, 81% of its restaurants around the world are franchised. Collecting royalties from franchisees provides a stable source of income for a restaurant company and removes the cost of operating them. McDonald's reported a first-quarter profit of $1.2 billion, or $1.21 a share, down from $1.27 billion, or $1.26 a share, a year earlier. The company partly attributed the decline to the effect of income-tax benefits in the prior year. Total revenue for the quarter edged up 1.4% to $6.7 billion, though costs rose faster, at 2.3%. Analysts polled by Thomson Reuters forecast earnings of $1.24 a share on revenue of $6.72 billion.

Last year’s Boeing contract in Washington State saw members of the International Association of Machinists vote down a contract that would transfer their pensions to a 401k plan and increase their healthcare costs with minimal raises over eight years. “Because of the massive takeaways,” Local 751 President Thomas Wroblewski told his members, “the union is adamantly recommending members reject this offer.” After the members voted down the contract by 67 percent, Washington State found $8.5 billion in tax breaks for the company and International President Thomas Buffenbarger stepped in to carry this corporate sweetheart deal through the last mile. With Boeing threatening to move the assembly of the new 777X passenger jet to another state, the International demanded a re-vote and the intimidated membership agreed to the same deal they previously rejected. The collusion of a multinational corporation and the state in transferring billions of dollars of wealth from working-class people into the hands of the rich could hardly have been possible in this case without the assistance of the International leadership. Boeing workers got to keep their jobs—but the fight that they may have been prepared to have with their employer was swiftly shut down.