Get Rich Education 209: You’re Being Taxed To Death with Kristin Tate
#209: You’re getting taxed in sneaky ways - both everywhere you look, and also where you DON’T look.
Americans spend more on taxes than housing, food and clothing costs combined.
Real estate has the best tax shelters - tax-deferred exchanges, rent income exempt from Social Security and Medicare tax, and tax depreciation sheltering more of your rent income.
Today’s guest, FOX News and CNN TV Contributor Kristin Tate, uncovers hidden taxes that you don’t even know that you’re paying.
Stealthy taxes are killing you. They’re often disguised as fees, licenses, and surcharges.
Once citizens pay a new tax, they get used to it, and just keep paying it.
Housing taxes, transportation taxes, utility taxes are often hidden. You learn where.
Your tax revenue often goes to a “general fund”, not where it “should”.
Graduated Tax vs. Regressive Tax - definition, relevance. Sin taxes.
We discuss what you can do to beat excessive taxation.
Kristin’s book, “How Do I Tax Thee” is on Amazon.
I bring you today’s show from Locarno, Switzerland.
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Listen to this week’s show and learn:
02:24 Real estate has the best tax shelters.
06:01 Venice, Italy.
10:02 Don’t cheat on your taxes.
11:03 Investing in cash-flowing Chicagoland and Tampa Bay.
14:56 “Read my lips. No new taxes.”
16:29 Kristin Tate interview begins.
19:10 Stealthy taxes.
20:50 Once citizens pay a new tax, they get used to paying it.
22:20 Housing, transportation, utility taxes.
28:03 Your tax revenue often goes to a “general fund”, not where it “should”.
36:19 Graduated vs. Regressive tax.
42:13 Sin taxes.
45:27 What you can do.
49:11 Famous quotes about taxes.
Resources mentioned:
Mortgage Loans: RidgeLendingGroup.com
Cash Flow Banking: ProducersWealth.com
Turnkey RE: NoradaRealEstate.com
QRP: TotalControlFinancial.com