What’s called loopholes in the tax code are really just a series of rules the wealthiest Americans follow to the letter.
I’m willing to bet you can figure out what their “top-notch” journalism revealed, but in case you haven’t read one of these stories yet…
GASP! The wealthiest people in the U.S. have structured their lives and businesses so they pay minimal taxes. And, in some cases, almost no taxes at all!
I know you’re putting on your “shocked” face right now, but hold on to your seat because the article gets even better. They also revealed some of the philosophy that the billionaire class uses to pay so little in taxes:
America’s billionaires avail themselves of tax-avoidance strategies beyond the reach of ordinary people. Their wealth derives from the skyrocketing value of their assets, like stock and property. Those gains are not defined by the U.S. laws as taxable income unless and until the billionaires sell.
ProPublica also discovered through their “ace” reporting that the top 25 wealthiest Americans paid a total of $13.6 billion on $401 billion in increased wealth from 2014 to 2018. Then they pointed out the obvious…
The middle class didn’t follow the same blueprint as billionaires, and so they — the middle class — paid a much higher percentage in taxes. (Duh.)
Of course, there was no mention of how someone from the middle class could follow such a billionaire blueprint. And even though the middle class can’t scale their wealth up as fast as billionaires, over time they could increase their wealth and reduce their taxes dramatically by attempting to do what billionaires do.
Unfortunately, ProPublica isn’t interested in helping people to become wealthy or save on taxes. They’re much more interested in making middle class people angry at wealthy people. They want the middle class to demand tax reform so the wealthy “pay their fair share.”
Never mind that wealthy people actually do pay billions in taxes. And in most cases they are already paying all the taxes they owe under the law.
These facts rarely deter the hoi polloi, who will often demand the IRS close the tax loopholes that the wealthy use. But what they fail to consider is this: If the IRS closes the loopholes the wealthy use, that could mean additional taxes on the lower and middle classes.
You see, almost all rallying cries to tax the rich end up backfiring. The billionaires adapt… while the lower and middle classes ultimately pay the price.
In fact, at this very moment Senator Elizabeth Warren is trying to set a dangerous precedent…
Banks AND Third Parties Could Become IRS Snitches!
In new proposed legislation reported on by ThinkAdvisor:
“Sen. Elizabeth Warren wants banks and other financial institutions to send customer account balance reports to the IRS. […] The bill will include the new third-party account balance reporting section along with sections that would increase funding for IRS enforcement efforts, Warren said.”
This basically means the U.S. Government wants third parties to do its dirty work by snooping around for income sources that don’t typically get reported to the IRS.
Sounds a little bit like mafia tactics to me. But if these lawmakers succeed in their efforts, you can bet that every dollar you earn will be put under a microscope, too.
Middle class people may think they have nothing to hide… but billionaires have VERY good accountants and tax advisors while the lower and middle classes don’t. So who’s most likely to get caught here? Hint: Not billionaires.
That’s Why You NEED a Blueprint to “Sidestep” the IRS!
As you probably know, I’ve been living the life of a “digital nomad” since 2001. That means l have enjoyed the benefits of location independence.
During that time, I’ve also learned dozens of valuable lessons about how to maintain my independence free from the IRS, “ethically challenged” Government officials, and public runs on banks.
On top of that I’ve learned the secrets to reducing taxes, sometimes even eliminating my tax obligations altogether (just like the wealthy elite). All while maintaining my freedom “under the radar” of various Government bureaucrats.
I created GWP Insiders to share those lessons.
In fact, I recently updated the entire membership area and I’m relaunching it as GWP Insiders 3.0. And, for a limited time, you can save 70% on membership.
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Freedom to be private and secure in your business affairs and day to day life.
When you become a member of GWP Insiders, you’ll have access to some of the most valuable and closely guarded secrets the wealthy use to protect and grow their wealth.
For example, you’ll discover:
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To living privately,
Location Independent Entrepreneur
P.S. The IRS and mainstream media are locking arms to close more tax loopholes as we speak, so you need to move fast. Here’s your next step…
Become a GWP Insiders member today to discover how to keep your income safe, along with many more secrets to secure your future no matter how tough the IRS gets…