Today I want to share with you my philosophical beliefs on capitalism and a free market in order to help you understand why asset protection planning is so important. 

Historically, capitalism has proven itself to be the only system that works efficiently, but it now seems the governments of the world are increasingly trying to regulate and tax us to the point where we give up and move to our own little Galt’s Gulch (for those of you that don’t know this term, this is from the book ‘Atlas Shrugged’ by Ayn Rand, and one of my personal favorites). 

I truly believe in the free market and it really irks me to read news headlines like “The Free Market Failure…”.  I believe this to be a myth.  We have not had a truly free market in a very long time.  The governments of the world tend to want to expand their power base and tax and regulate every sector of the market.

Fortunately, there are still opportunities to protect our assets from not only unscrupulous creditors, but also government influence.  I do not advocate tax evasion or avoidance of your financial responsibilities of any sort, but at some point, you need to realize where other parties have crossed the line and become a burden on your personal freedoms. 

In the US, we will likely reach a point soon where there will be currency controls and you won’t be allowed to move your money outside of the country and invest in world markets.  In 1933 President Roosevelt confiscated all publicly held gold and within a few short months, devalued the dollar effectively stealing the citizens’ wealth. 

We are still in the midst of the largest economic crisis in modern history and most likely there will be drastic protectionist policies put in place which will not be positive for those of you with wealth.

Entrepreneurs and investors are the growth drivers of our economy.  The creation and preservation of your wealth is what will continue to improve the prosperity of the world.  The governments’ social programs are not what the world needs for progress.  This is why asset protection planning is so crucial for economic progress in today’s world.

As a society, we need you to prosper in order to improve the living standards of all.  As the cliché goes, “a rising tide lifts all ships”.  This holds true in economics as well.  As the entrepreneurs and investors of the world increase their wealth, it improves the living standards of the whole society.

 Our firm’s mission is to provide asset protection planning that allow you to create and preserve your wealth and protect it from the two main threats of the modern world; taxes and litigation.  While not very altruistic by nature, I do want the world to prosper.  This is only achievable by allowing productive members of society to maintain and increase their wealth. 

Contact us today for your free 30 minute consultation.

I don’t usually repost other people’s blogs, but this one is pretty funny.  Please click through to read the remainder…

The Top Ten Reasons You Should Celebrate House Passage Of The Healthcare Bill

10) A nation that can afford trillions in deficits as far as the eye can see can surely afford hundreds of billions more. Right?

9) While many of Bart Stupak’s pro-life constituents might feel he has betrayed his pledge to guard the sanctity of life, they will be getting some nice new runway lights, which is kind of the same thing.  

It’s for the children. The 27-year-old children.

7) New taxes on interest income, dividends, and capital gains will surely spur a renaissance in job-creating investments.  As Paul Krugman might say, it’s textbook economics.

You can read the rest here…

If you are reading this blog, you know my focus is on asset protection planning.  Presumably we are also somewhat like-minded or else you would quickly tire of my rants.  My point being, this health care bill has a significant impact on your wealth.  And the longer you wait to act on creating an asset protection plan, the worse the problem will get.  It is highly likely that many avenues for creating offshore structures and offshore banking will be closed.

With nearly $1T pledged for this enormous bill, there are only 3 ways the federal government can pay for it; cut spending, raise taxes, or inflation.  And by inflation, I mean printing dollars.  Who here believes the Federal government will cut spending?  Anyone, anyone?  So basically we are looking at the destruction of your wealth through taxation and inflation.  If you don’t believe me, just read your old high school history books.  We only have to look as far back as the ’70’s to see what happened when we printed an extra $100B.  Tax rates skyrocketed and inflation was in the mid double digits.  And $100B now barely covers the congressional furniture and toilet seat budget…

I would like to say that I don’t mean to scare you, but I would be lying.  I want to scare you.  I want to scare you into action.  I personally believe that through true capitalism, the world prospers.  And people like you are the capitalists that make the world go ’round.  But we are on the verge of a major redistribution of wealth, and it won’t be redistributed into the hands of the productive members in society.

In the past coupl of years, public sector jobs have skyrocketed both in number and in pay.  Public sector jobs now average $11.90 per hour MORE than private sector jobs.  And the value of public sector benefits is nearly double.  The only large net employer over the past year has been in government.  Where do you think payroll funds come from?

Entrepreneurs and investors make money.  Bureaucrats consume it.  Period.  The productive members in society create and produce and the taxation from this production pays for government services.  With approximately 50% of the population now no longer paying taxes, we cannot continue on this path.  We are heading for major change.  Maybe not catastrophic, but certainly major change is coming.

And I want you to do something.  Protect your assets.  Protect yourself from litigation.  Protect yourself from over burdensome taxation.  Protect yourself from inflation.  I hope I have sparked some thoughts with you here and encourage you to take action.  Until next time, live well.

If you have been reading my blog or newsletter for awhile, you can imagine my view on the new health care bill.  I realize this blog is primarily concerned with asset protection planning, so bear with me while I get to the ‘what’s in it for me’ question. 

I agree with most Americans that the current health care situation sucks.  It truly sucks.  It consumes 16% of our GDP and yet less than 10% of that figure actually trickles down to doctors.  Where is this money tied up?  Primarily in government regulations and litigation.  The mountain of filings and forms that must be filled out is truly a barrier to entry for any aspiring doctor.  Honestly, I cannot imagine wanting to become a doctor right now.

And the grand solution for this disaster?…..Wait for it….More government regulation.  Yes sir ladies and gentlemen, we are going to fix our problem of too much red tape, with more red tape.  3M should figure out how to capitalize on this.  A new analysis by the Joint Economic Committee and the House Ways & Means Committee just estimated that the IRS will add another 16,500 new jobs to examine and audit new tax information regarding the health care bill.  Excellent, just what we needed; more overpaid government workers to harass us each year about an already ridiculously complicated tax system that creates criminals out of citizens who are unable to decipher the code. 

As best I can tell, the CBO, congressional budget office, has yet to produce a reasonably accurate fiscal budget.  Much less predict the future 10 years out.  This new health care bill is proposed to cost taxpayers $938B, but somehow will reduce the deficit by $143B over the next decade.  Huh?  I don’t trust the accountants and economists one bit.  I mean, they never have been right, why start now.

I found this video on the internet and thought it was pretty humorous.  Let me know what you think.