Why I Hope Donald Trump Paid $0 in Taxes

Written by Robert Kiyosaki | Tuesday, August 16, 2016

And Why Hillary Clinton is Wrong To Attack Him On It

You can tell that the presidential race is heating up because the attack ads are heating up too. In the past, much of political advertising happened on the television. If you didn’t like it, you could change the channel. This election involves social media more than any other I can remember.

Last week, Hillary Clinton, the Democratic nominee for president, sent this out on her Twitter account:

patrickiturra.com
Twitter

Usually, the candidates choose to release their tax returns if they are running for president. Donald Trump has elected, so far, not to do this.

Last week, Hillary and Bill released their 2015 tax return to the public. This was most likely the reason they are attacking Trump on his tax returns. As The New York Times reports, Hillary and Bill paid “$3.6 million in federal taxes for an effective tax rate of about 35 percent.” Most of this income came from speeches and Hillary’s memoir.

I find it interesting that Hillary would choose to attack Donald Trump for not paying anything in taxes and celebrate that she paid so much in taxes. This to me shows that Hillary is a career politician, while Donald is a career entrepreneur. It also shows me that Donald is doing what the tax code was intended for while Hillary and Bill are being penalized for not doing what the tax code was intended for.

As I’ve learned from my Rich Dad tax advisor, Tom Wheelwright, the most patriotic thing you can do is not pay your taxes!

Let me explain.

The Tax Code is Made to Incentivize

As you probably know, the tax codes in the US and in many different countries are long and complicated. The question is, why?

The reason is that government leaders learned a long time ago that the tax codes could be used to make people and businesses do what they want by utilizing the tax code.

In short, the many credits and breaks that are found in the tax code are there precisely because the government wants you to take advantage of them. For instance, the government wants cheap housing. Because of this, there are many tax credits for affordable housing that developers and investors can take advantage of that minimize their tax liability, put more money in their pocket, and in turn, create affordable housing. Everyone wins.

There are many scenarios like this in the tax code that incentivize investors and entrepreneurs to do activities the government is looking for while rewarding those who take those actions with lower-or zero-tax burden.

Because of this, limiting your tax liability actually means you’re doing what the government wants you to do through the tax code. And that is the most patriotic thing you can do.

Why Hillary is wrong

This is why it is insanity for Hillary to criticize Donald for not paying taxes. The only way in which he would not pay taxes would be by doing things like investing and creating jobs to receive tax benefits created by the government! Conversely, the fact that Hillary and Bill paid a 35% tax rate and millions in taxes shows they are not doing what the government wants. They are not providing jobs, starting businesses, or investing in a meaningful way.

Personally, I’d rather have someone who understands how money and taxes work, how to create jobs and invest in ways our own tax code incentivizes, than one who doesn’t. This is not an endorsement of either candidate, but it is a true observation regarding this one issue.

Hillary’s tweet is capitalizing on the general ignorance around money and taxes that much of our country has. In that way, it is actually a lie and a form of fear mongering. It is an attack without legs to stand on, preying on emotions rather than appealing to logic and intellect.

But that’s what most of our politics has devolved to these days, so I’m not surprised.

Want to know more? Read Tom’s book on taxes

During the election season, you’ll hear lots of things that sound right, but fall apart upon further analysis. That’s why it pays to do your own homework, especially when it comes to money and taxes.

And that’s why you should read Tom Wheelwright’s book, Tax-Free Wealth.

Tom is a genius when it comes to taxes, and I encourage you to read his book- and to begin looking at how you can be patriotic by not paying your taxes by investing and building businesses that the government rewards with tax breaks and credits for doing exactly what they want.

Also, for more information on using the tax code to get rich, take advantage of our Rich Dad education and coaching classes that will help increase your financial education and your wallet, while decreasing your tax bill.

More to protect your money: Do You Need Insurance Against the U.S Dollar?

Written by Robert Kiyosaki | Tuesday, August 16, 2016

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Do you need Insurance against the U.S. Dollar?

The world’s financial landscape is changing…
And it could soon cause a lot of money to move out of the U.S. dollar.
So how do you protect yourself? By following China’s lead.
Let me explain…
On Monday, the International Monetary Fund (“IMF”) announced that China’s currency – the yuan – will join its reserve currency basket.
This basket includes the currencies of the world’s financial superpowers – the U.S. dollar, Japanese yen, British pound, and the euro.
The yuan being added to this basket will give China a new global status. And  Steve Sjuggerud says it will cause hundreds of billions of dollars to move into the yuan… and potentially out of the U.S. dollar. Here’s what he wrote in a May DailyWealth essay:
Billions of dollars will move into [the yuan] when it achieves reserve currency status. The likely loser in this will be the U.S. dollar – as governments diversify a percentage of their currency reserves out of the dollar and into this currency.
You see, the U.S. is facing an enormous $59 trillion debt problem. The only way for the U.S. government to pay its incredible debt is to print more and more dollars… and debase an already devalued currency. (Every time the Fed prints a new dollar, the value of every dollar in circulation declines just a little bit.) This doesn’t make the dollar all that appealing to investors.
Printing-money
But soon, investors will have a new, more appealing reserve currency to invest in. China is the world’s second-largest economy. In a few years it could be the world’s largest economy. And China has a huge hoard of gold. From January to September, the country added around 1,171 metric tons of gold to its hoard. That’s more than the Swiss government has in its vaults. And in October, China bought another 14 metric tons of gold. China has spent about $70 million buying gold over the past two years.
While it’s probably impossible for China to have a completely “gold-backed” currency, this gold allows the yuan to offer a guarantee more substantial than the dollar, which is only backed by the “full faith and credit of the U.S. government.”
That’s why investors are soon likely to diversify out of the dollar and into the yuan.
So how do you protect yourself from a decline in the U.S. dollar? Follow China’s lead and buy gold…
China-Gold
In November,  China has secretly been buying massive amounts of gold as insurance against the U.S. dollar.
In short, thanks to its exports, China’s foreign-currency reserves have swollen from $2.5 billion in 1980 to $3.7 trillion today… So China has had to figure out what to do with all that cash.
Initially, China bought U.S. government bonds. It holds $1.3 trillion in U.S. bonds… the most U.S. debt in the world. But with a dollar crisis likely on the way, China faces a huge problem…
So it has been “safeguarding” the value of its currency reserves. That means one thing… buying gold. Because gold is a real store of value, the price of gold goes up if something bad happens to the U.S. stock market or dollar.
I recommend safeguarding your own wealth against the dollar by buying and holding gold bullion. And with the price of gold down more than 40% since its 2011 peak, there hasn’t been a better time to buy in the past five years.
Take a page from China’s playbook… stock up on some gold bullion. It’s a smart insurance policy as the world’s financial landscape changes.
If paper currencies like the U.S. dollar collapse, gold will still hold value. That’s why Doug Casey, one of the world’s top experts on gold and resource investing, views gold as “cash in its most basic form.” 
Contact me HERE if you need more information about my gold free program strategy

Fed May Take Rates Negative, Bond And Stock Markets Crash Warning, GOP and DNC Fear Trump

The Federal Reserve is not raising interest rates, but now there are hints by Fed Head Janet Yellen that it might consider negative interest rates if the economy gets bad enough. The economy is already bad, and the Fed decision to keep a key rate near 0% says it all. I have been telling you for a couple of years that there is no real recovery on Main Street. The only real recovery is on Wall Street. Data point after data point shows the economy is not good. This is why the Fed is not raising interest rates.

On top of that bad news, people like Nobel Prize winning economist Professor Robert Shiller continue to warn that the stock market looks like it is in a bubble. There are also reports of the biggest double top in stock market history that was recently made, and when that happens, it is downhill for the markets. This includes the global debt market that dwarfs the stock market by orders of magnitude. I just interviewed former Reagan White House Budget Director David Stockman, and he says the “financial system is booby trapped with debt bombs.” This is not if the bond market will blow up, but only a matter of when the bond market will blow up.

CNN was the only real loser in the second GOP debate. The debate started out looking like CNN just wanted the candidates to trash Trump. It looked juvenile and petty, and even NJ Governor Chris Christie called BS on the BS when he directed the discussion back to how the GOP was going to help the struggling middle class. Trump won the debate by virtue of the fact CNN centered it on him and tried to get the other candidates to tear him down. Sure, there were candidates that had their moments, and some will move up and down in the polls, but Trump still emerges as the front-runner. Let’s make this perfectly clear, Donald trump could win it all.

Join Greg Hunter as he talks about these stories and more in the Weekly News Wrap-Up. usawatchdog.com

Are you middle class?

Everyone’s talking about saving America’s middle class. But just who exactly falls into this group?

That’s actually a much more difficult question to answer than it seems. While some experts define the middle class by income, others define it by lifestyle. Still others say it’s a state of mind.

Here are five different ways that economists, federal agencies and even the White House measure and characterize the middle class.

family of four on grass with hands up and dream

What is middle class, anyway? Click HERE to learn more

Are you middle class? Are you considered middle class where you live? Use this calculator to find out CNNMoney/calculator 

Economic Crisis 2015 & Great Opportunity

 Economic Crisis 2015 – Peter Schiff & Mike Maloney

Recently Peter Schiff visited Mike Maloney in California. During his stay they filmed nearly 3 hours of discussions about precious metals, freedom, and the economy in general.

Over the next few weeks we’ll be publishing a series of these videos, so make sure you are subscribed as this analysis is not to be missed. In this first installment, Mike and Peter discuss hard evidence that a huge economic crisis awaits us in the not too distant future.

Contact me HERE, to receive a cash flow business strategy, build your own system, and take advantage of this economic crisis

France steps up monitoring of cash

The French Finance Minister Michel Sapin, has announced a drastic tightening of the use of cash in France. As the newspaper Le Parisien reported, citizens will be strictly monitored beginning September 2015 if they make payments in cash. Restrictions will include:

Michel Sapin-

  • A limit on cash payments will be reduced from 3,000 euros to 1,000 euros.
  • Tourists can only pay up to 10,000 euros in cash, so far there were 15,000 euros.
  • If a Frenchman wants to change money into another currency, it must still do to 1,000 euros without identification only. So far,
  • French could buy foreign currencies for 8,000 euros.
  • If a bank customer stands out more than 10,000 euros a month from his account, the bank must report the transaction to the
  • Money Laundering Authority TRACFIN.
  • Banks must inform the authorities of all cargo transfers within the EU that exceeds 10,000 euros. This regulation impacts
  • checks, pre-paid cards, and even gold.
    The control of crypto-currencies like Bitcoin are set to be tightened drastically.

My question for you: how will your country, if they did the same as France (even the United States), react? How will it affect your money? What will happen with your purchasing power? 

Learn more: The greatest wealth transfer

Source: Router