It looks like it's Independence Day in the USA, in 1776 they, as a country, have liberated themselves from the tyrannical British rule, and gained independence as a nation. The entire revolution started mainly because of the excessive taxes that the Brits have imposed on the colonialists. Yea, something like 3% or 4% on the import of Tea, which Americans didn't even drink. Veeeery tyrannical....
Meanwhile the taxes now in the USA for your average person is:
- 39.6 % Personal Income Tax + 7.65 % Social Security + 5.34926 % USD Yearly Inflation
IN TOTAL: 58.3182% OF YOUR INCOME IS STOLEN IN INCOME TAXES!
(not to mention local taxes)
Well well well, you must feel very independent now aren't you? Well you can't do anything about the taxes yet, but you can defend against the runaway inflation and you can make your wealth independent from the greedy hands of the banking system:
Precious Metals
If you hold precious metals in the US, you should think twice, the Executive Order 6102 can come back anytime!
So you might want to politically decentralize the custodianship of your precious metals, like storing the metals in offshore vaults would probably be a good idea. Digging a hole in your backyard is a stupid idea, the gold can be found with a metal detector...
Cryptocurrencies
You should definitely get involved in cryptocurrencies, it's not just one of the most profitable industries currently, but it's also the safest. Banks can get hacked, not to mention bank accounts frozen, or civil asset forfeiture applied to your wealth. At least crypyo currencies can't be forfeited if you have exclusive ownership over them and don't store it in a custodian exchange.
So if you have cryptocurrencies it's imperative for you to move them all into your own wallet, and not store it on exchanges. All coins on an exchange can easily be confiscated for any bogus charges:
- Read Burt's horror story here: http://www.burtw.com
So happy Financial Independence day with things like Bitcoin, Ethereum and Steem! And just ignore the Statist/Nationalist nonsense!
Sources:
- Courtesy of Ethereum Foundation CC BY 3.0, via Wikimedia Commons
- Courtesy of Dash community (https://www.dashpay.io/promotional-graphics/) CC BY-SA 4.0, via Wikimedia Commons
Also the taxes by the centralized agencies including banks in form of high transaction fees is the reason that cryptocurrencies are getting ore and more in demand each day. Totally agree with you on state taxes. The make us their slaves as if we are not earning for ourselves but them to flourish
Ahah, I like the idea. I will follow you because I fully agree with what you are saying. We can win a battle.
Totally on board with this line of thinking - followed :-)
That's what we're all trying to do, until governments worldwide come up with an idea how to put some taxes on cryptocurrencies as well.
Thanks for sharing this! I just upvoted you
Your article points to one of the reasons I have started down the path of cryptocurrency, freedom! This is not only because I want to be free but also I want to train my children and extended family freedom. Most importantly, God calls me to be a free man under God, but if I am dependent on fiat money from the government, then I inherently serve two masters.
Thanks for the post @profitgenerator!
For a long time I have believed in gold and silver as a means of being outside the coructo system and but due to the manipulation that exists in the market and turned the view towards the electronic coins
Well written, lots of good info
Thanks