Lesson No. 3 – Where does money come
from, why and how it is taxed, depending on its source. Test of
evaluating the financial skills and the incomes. Basic notions
of Financial Education. The 45-year plan.
Taxes…taxes… taxes. Do you know how taxes appeared? Franklin was
the one who “invented” them; due to the need of money for the
Secession War, and he said something like this: “Rich people should
pay a tax that should be proportional to their incomes”… you realize
that all the poor people voted FOR… and they were many, therefore
the law was passed. After some time he said again: “Rich people
pay, but the middle class should also pay … so that let’s vote”.
Poor people (still representing the majority) voted FOR. And after
some time was the time of DEMOCRACY and, as in a democratic country
everybody has both equal rights but also equal obligations, the
tax to be paid by poor people was voted too… Today all of us pay
taxes, but these taxes are different... depending on “...where
our money comes from...”.
- If you are an employee, your salary is first subject to taxation,
and after that (from what it remained, of course) you spend…
- If you are a professional man you can spend as much as … as
much as… well, as much as you earn, that is you have the best-paid
hard work and the worst-paid easy work (I hope you understood).
- If you earn your money as an employer, then, besides the fact
that you spend « what other produce », there is the additional
advantage on the tax side. That is, first you spend as much
as you can and then you pay tax only on the remained amount.
- If you earn money from investments, then you even don’t have
to work …, you must only wait for the time to pass, you are
paid because time passes …and you know what … no matter what
… time will still pass …
My parents favourite sentence was: «You cannot earn money without
working» … Very true, but with a small remark: «You cannot earn
money without working if you are an employee or a professional
man».
How you can earn money without working is what you are going to
learn …
In the lesson title I mentioned something about a 45-year plan.
To be brief, it is an Incomes and Expenditures Budget prepared
by us in an electronic format. You will enter your incomes and
expenditures, and this plan will make a current financial analysis
of your family, indicating the Instant Financial Stabilities,
the Assisted one and the Passive one. Then, as you learn some
rules, you will see how the incomes and expenditures curves change
depending on what you will change in your life, which is the effect
of saving a dollar a day, what the capital and resource redistribution
mean ... and all this will be customized just for you ... you
will guide your future (the Butterfly effect) to what you program
yourself to be ... rich or poor ... it is simple .... choose ...
- An overall view
on the Incomes and Expenditures Budget and the classical methods
of taxation for a natural person.
- Analysis of the
Incomes and Expenditures Budget, of the prospect and of the
methods used to increase the incomes and to decrease the expenditures.
- Where does money
come from, why and how it is taxed, depending on its source.
Test of evaluating the financial skills and the incomes. Basic
notions of Financial Education. The 45-year plan.
- The world of the
rich is a world that lives according to other rules. We begin
with the beginning, and the beginning is changing your way of
thinking.
- Preparing a Plan
to obtain the financial independence.
- Basic rules and
techniques for increasing the incomes and decreasing the personal
expenditures (that is for getting rich).
- Types of Investments
and types of Investors. Active Investments. How we can generate
an Active Investment.
- Identifying, attracting
and using external resources - Other People's Time, Other People's
Money, Mentors and many other absolutely necessary things.
- DREEEAMS ! I understand
that if I invest I earn money without working... but where from
can I get money to invest? Financial leverages. Pirghiile financiare.
- The Past and
Visions on the World Financial Future. Why is it good to be
Rich? Ways of protecting the Investments.
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