Posts Tagged ‘taxes’

“Our credit system is currently sitting at $68 trillion. It’s the largest debt ceiling in the history of the world. It’s more than twice the value of every single home in America put together… More than three times the value of every single U.S. bank’s assets combined… More than 20 times the trillions of dollars the U.S. government collects in taxes every year.” -Van Bryan

“The U.S. 10-year bond yield rose to a seven-year high of 3.24% – nearly 2% above its bottom in July 2016.

This 2% increase, imposed on $68 trillion of debt, is equal to an extra $1.3 trillion in interest charges….

To look at it another way, the typical working person who works an average of 33 hours per week earns $26 an hour. His percentage of the total debt is about $500,000.

At today’s interest rate, he will have to work 558 hours – or three and a half weeks (not including taxes) – just to keep up with the interest payments. Clearly, this is impossible…” -Bill Bonner

“So what sort of ‘business’ is government?  Answer: it is not a customary producer of goods sold to voluntary consumers.  Rather, it is a ‘business’ engaged in theft and expropriation — by means of taxes and counterfeiting — and the fencing of stolen goods.  Hence, free entry into government does not improve something good.  Indeed, it makes matters worse than bad, i.e., it improves evil.” -Hans-Hermann Hoppe

Warren Buffett, in his 2011 letter to investors, defined investing as “the transfer to others the purchasing power now with the reasoned expectation of receiving more purchasing power – after taxes have been paid on nominal gains – in the future.” What’s important to remember is “It’s not the dollar value of your investment returns that count. It’s how much your investments increase or decrease your spending power after you’ve paid taxes.” -Chris Hunter B&P Briefing

Debt drives demand, in two directions.  It first drives demand upward while folks spend with credit; the economy grows.  Then it drives demand down when credit limits are reached; the economy tanks.

“A healthy economy is driven by savings-fueled demand.  When savings and investment become badly maladjusted, there will be problems….  Since 1992, quarterly adds to home mortgage debt have increased from around $200 billion per quarter in 1992 to more than $600 billion in the most recent quarter.  This is an amazing amount of debt….  And that means an overwhelming majority of people’s income today is going toward taxes, interest, and paying down debts.” -Porter Stansbury

Where Are You?

Posted: January 18, 2013 in Mortgages
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29% of homeowners in America are completely mortgage free (Zillow.com).  Are you in this category?  Are you close?  Do you see light at the end of the tunnel?  Does the thought of it bring resentment, or even desperation?

What have these people done differently than the other 71%?  Is it even possible to join them in this exclusive club?  Perhaps it is time to take a fresh look at the debt in our lives.  With the looming increase in taxes, it will become even harder to overcome financial strain.

Click here to begin the process of overcoming the control of debt.

Money Transfer

Posted: October 27, 2011 in Money Matters
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People spend a huge portion of their lives earning an income.  Most frustrating is the few dollars that remain after taxes, debt, and lifestyle spending.  Many keep 5% or less of those earnings.  As a result, money becomes the boss.  In order to regain control, the unnecessary transfer of money to others must be stopped.