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Get Creative with Pace Morby
How to Legally Avoid Paying Taxes
Jul 31, 2024
Explore startling truths about tax dollars and how much goes to interest on debt. Discover innovative strategies for legal tax minimization through real estate investments. Learn about initiatives to help families secure affordable housing without relying on banks. Dive into creative financing methods like seller financing and the importance of understanding the tax code. Hear insights on the resilience of property values, benefits of depreciation, and navigating the complexities of mortgage payments. It's all about leveraging real estate for financial success!
01:57:22
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Quick takeaways
- 46% of tax dollars are allocated to interest on debt, highlighting the increasing financial burden on taxpayers due to national debt.
- Creative financing methods like seller financing help families obtain affordable housing without reliance on traditional banks or credit checks.
Deep dives
Debt and Taxes
A significant portion of tax dollars contributes to paying national debt, with 46% allocated to interest payments rather than public services. This alarming statistic highlights the growing financial burden on taxpayers, as the national debt continues to escalate. With the U.S. debt surpassing $35 trillion, each citizen is effectively responsible for over $100,000 in debt. The government has not maintained a balanced budget since 1990, leading to ongoing financial challenges for future generations.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode