Saturday, March 20, 2010

Who will Bail out the Taxpayer?

The federal government has been on the bail-out warpath in recent years. They have used taxpayer money to bail out auto makers, unions, banks, Wall Street brokerage firms and other entities. They have (and are) using taxpayer money to the tune of TRILLIONS for state governments and for massive social & military spending. The craven polticians and bureaucrats in Washington have no problem with historic, profligate spending that is heading toward mind-boggling and unsustainable levels.

The spending is reaching obscene and criminal highs and it is making the public very nervous. One of the biggest reasons for the tea party phenomena has been the alarming trillion-dollar growth of the federal government. Most of the state governments are also spending beyond their means.


Tax-payers across America are tapped out. As of this moment, our federal government is on track to make matters much worse (if that is possible!).

Healthcare reform is scheduled for a vote. If it passes in its current state, it will FORCE taxpayers to pay more taxes. Much more! Since these taxes would be enacted immediately, the painful effect on an already weakened economy will be severe. WHO WILL BAILOUT THE TAXPAYER?

In addition, federal taxcuts enacted during 2001-2003 are scheduled to expire in January 2011. WHO WILL BAILOUT THE TAXPAYER?

Our founding fathers thought that "A person has the right to the fruits of one's labor" was so obvious that they didn't bother to expressly include in the Constitution. How tragic! they had no idea how rapacious and profligate our politicians would become.

Today, the most trampled "right" in America is the right to the fruits of one's labor. But what will happen when those "fruits of one's labor" are taxes away? What is left? Who will be left to pay for all the spending?

History tells us very clearly:
Every nation that has experienced a financial collapse did so because its government grew beyond the ability of its citizenry to pay for. They taxed too much, they borrowed too much and they spent too much.

Yes...much of it was done "with good intentions". In the past, those good intentions paved a path to hell. Today, however, that path to hell has become a super-highway.

Your Personal Strategy:
Find ways to cut your taxes. For decades I have taught my students that a home business is an economic necessity. I think that everyone should start a home business to add another income source to their financial situation but the second reason is that a home business can help you save thousands in taxes.

There are lots of good tax guides and you can CLICK HERE here to find one of my favorites.

In the April 2010 issue of my newsletter, PROSPERITY ALERT, I will cover some ways to save thousands on your taxes. Get a free subscription HERE.

I wish all of you continued success...

Paul Mladjenovic