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Your odds of ever climbing out of your socio-economic class diminish rapidly with the amount of tax you pay.
Forget all the supposed "benefits." Tax -- whether income, capital gains, vat, inheritance -- does one thing: It crushes class mobility and destroys your future.
Forget all the supposed "benefits." Tax -- whether income, capital gains, vat, inheritance -- does one thing: It crushes class mobility and destroys your future.
Poors smitten with envy focus on "the rich" without ever asking how they got that way, and then ask that more roadblocks be placed so that it is harder to ever attain.
You must focus on your tax load during the early stages of your life, as soon as you have decent income.
You must focus on your tax load during the early stages of your life, as soon as you have decent income.
If you can sock away a year of income over 3 years because, say, you worked abroad and took advantage of the FEIE, you now have capital to invest. Even if you do the braindead index fund thing, your balance is now way ahead of your peers who stayed home. This compounds.
Quit thinking about such a dull and distant goal as "retirement."
Your objective is to make it over "the hump" asap-- the point at which you make 2x-5x more from capital allocation (investment) than you do from earned income.
Your objective is to make it over "the hump" asap-- the point at which you make 2x-5x more from capital allocation (investment) than you do from earned income.
Once you are on the other side of "the hump" things move swiftly. You are in an updraft that will lift you to a much better place. (Cantillion effect.)
Everything they do to punish "the rich" makes the hump bigger and more difficult to get over for everyone who is "not rich."
Everything they do to punish "the rich" makes the hump bigger and more difficult to get over for everyone who is "not rich."
Why you would want that is incomprehensible to me. It& #39;s cutting off your nose to spite your face. We should seek to maximize opportunity. We want broad-based prosperity and that requires support for broad-based capital accumulation, all the way down to the lowest tiers.
This is why sound money and a difficult to tax asset like #bitcoin 
https://abs.twimg.com/hashflags... draggable="false" alt=""> is so important. Without it, the barriers to self improvement get higher and and higher as government consumes an ever larger proportion of all production and value. With Bitcoin, everything changes.
Broad based capital accumulation is possible with #bitcoin https://abs.twimg.com/hashflags... draggable="false" alt="">. People are being trained to stomach volatility and trained for lower time preference. This makes them better investors and capital creators/allocators.
