Today, we’re talking about the bane of my existence. That’s right, paying the government money. We’re gonna talk about dealing with haters, taking on equity partners, and we’ll look at a batting gloves company.
A $340,000 check to the government. That is an estimated payment, first of the year. Taxes.
Look, last year I did a video on taxes, when I wrote a check for $170,000 on tax day. And it was the most viral video that I had ever done.
Now the biggest push back that I’ve ever received is people saying “Well, how much does that mean that you brought home? You should feel proud that you get to contribute that much to your country.”
Listen, I don’t care how much money you make. I don’t care what good you think the government does. Money in people’s pockets is always better spent than handing it off to politicians who don’t know who you are, probably don’t care who you are, and are out of touch with the solutions that actually make change in the world.
Whether somebody buys a Lamborghini, or whether somebody hires seven more people with oh I dunno maybe the $340,000 that they pay as an estimated payment to the government.
It is always better spent when it is kept in the hands of private individuals rather than turned over to fight war, whether it is turned over to subsidize certain industries that you may or may not benefit from. Or whatever it is that the government says that they are going to do.
And look this is not about Trump, or Obama or about being Republican or Democrat. It is simply about you making choices rather than people making choices for you.
And I’m not an anarchist, I want to have a military. I believe in strong borders.
But apart from that, the federal government really has the role of protecting liberty and making sure that we have free markets. You have a right to keep what you earn. You have a right to go produce as much of it as possible. And by doing exactly that you make a better world.
By you creating things in the economy, that makes the world a better place. Even the idea of giving back is a misinformed idea, because it assumes that by you acquiring wealth you didn’t give in the first place and you had to if there was a value exchange.
So again, this isn’t about what side of the aisle you fall on or who you voted for in the last election. I didn’t vote for Obama or Trump. But, you always have a right to keep what you earn and we should give as little to the government as possible.
Watch the full episode above for more on taxes, dealing with haters, making the right decision on equity partnerships, and a case study on a batting glove company.
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• FFLTV: Creating Success, Following Your Passion and Investing for Cash Flow
• FFLTV: Questioning Your Life Path & Why I Disagree With Peter Diamandis
