Subscribe to our free weekly newsletter by entering your email address below.
Money-Guy 12-13-2010
As is usually the case, the holiday season has caused our bi-weekly schedule to be slightly off. You could probably even say that the frequency at which we get these podcasts published during the holidays is somewhat “uncertain” (you will see how clever this statement is as you read on… : -)
In today’s show, we touch on a subject that EVERYONE in this country can relate to right now… uncertainty!
These are just a few questions that are circulating up in Washington, in the media, and even at the water cooler. Oddly enough, right now the answer to all of them is the same: who knows? Well, when you have these “who knows” type of questions, how do you plan for the future? To start off the show, we share a listener email that expresses this exact concern and we give you the Preston & Cleveland rationale of how (from an investment stand point) you should think about this current market environment.
We go on in the show to share a little case study experiment we conducted. Because I have a background in accounting and I am a CPA by training, I still do a handful of tax returns each year (about 52 to be exact). I thought it would be very interesting to break out those 52 returns by Adjusted Gross Income and then take a look at each group’s effective tax rate (in an attempt to see if there is any weight to the “rich people don’t pay taxes” theory). I then determined which of these clients were business owners and even took that a step farther to see how many individuals they employ (to see if small business owners really are employing that many people). Here are my results:
What this says to me is that high income earners pay more in taxes (in percentage terms) than lower income earners. I found the following statistics even more compelling:
To me (at least for my small sample of the American population) this says that there is some truth to the fact that business owners making over $250k really do employ a lot of people. As you listen, we will go even deeper into these numbers and explain some other conclusions we were able to draw from this very simple analysis.
New Child Checklist
Planning for a new child is so exciting! But as parents, we know it can also start to feel overwhelming.…
View ResourceFinancial Order of Operations®: Maximize Your Army of Dollar Bills!
Here are the 9 steps you’ve been waiting for Building wealth is simple when you know what to do and…
View ResourceExclusive Sneak Peek of Millionaire Mission by Brian Preston
Read MoreWhat Type of Health Insurance Plan Is Right for You?
Read MoreWhat Should I Count Towards My 25% Investing Rate?
Read MoreHow about more sense and more money?
Check for blindspots and shift into the financial fast-lane. Join a community of like minded Financial Mutants as we accelerate our wealth building process and have fun while doing it.
It's like finding some change in the couch cushions.
Watch or listen every week to learn and apply financial strategies to grow your wealth and live your best life.
Subscribe to our free weekly newsletter by entering your email address below.