Today’s blog is short and sweet.
It is also likely to be controversial. (Oh, I can see the emails now…) It’s core to why I do what I do, though. And I think it needs to be said.
Imagine you were a hard working family in middle America. You make $34,000 per year. And you spend $45,000 per year.
But, you forget to add in all the interest on the debt you have, so actually, you spend $48,900.
It’s easy to forget to add in some of the expenses when it feels overwhelming. It’s easier to pretend there isn’t a problem.
But that means you have a deficit, each and every year. The deficit is $14,900.
And right now, your credit card debt is $220,000.
Would you say you’ve got a problem? Sure, the income numbers are low, but let’s double it all.
Let’s say you make $68,000 per year. And you spend almost $98,000 per year. That means you’re spending $30,000 you don’t have.
Your credit card debt is $440,000.
The point isn’t always to make more money (although it helps). Usually the most powerful thing you can do is cut your expenses.
But now I want you to add some Zeros. In fact, add 8 zeros to the numbers in the first example:
Income: $34,000
Expense: $48,900
Debt: $220,000
Add 8 zeros and you’ve got the US’s 2019 budget numbers.
When people talk about paying their “fair share” of taxes, I cringe. The best thing you can do is change the economy, one family at a time, by providing employment to the people who work for you and providing safe and good housing to your tenants.
And if you pay less tax, it will help you make a bigger change.
That’s my belief and that’s why I do what I do.
If you want me to help you pay less tax, Contact Us.
