Personal Financial Goals vs Government expectations!

[Findingnemo]

Have you ever thought about this, what we are trying to achieve in our personal financial life is completely diverge from what the government expects their citizens to do.

We as Individuals always thrive to achieve financial independence in our lives especially someone who is from the average middle person but what the government expects from the middle class is different and is kind of surprising when we give deep thought about it, The Government highly relies on the middle-class tax payers for the money and most of the taxes collected in the form of indirect taxes so that people may not actually aware that they are paying taxes for everything from their salary, fuel, medicine, anything everything has taxes that eat most our earnings.

So as a result we are paying from 10% to over 50% of our earnings just in the form of taxes in one or another way. So one who really wants to achieve financial independence should find a way to reduce their tax pay legally like how the businessmen do.

Or like the bald guy says, we need to find a way to exit the Matrix.

[franky1]

governments main income is tax, and tax is not just from citizens income but from their spending of that income, which then leads to a cycle. which if repeated fast enough can earn the government alot more the faster people spend their income(live pay-cheque to pay-cheque)

when you spend. you pay sales tax. retailer then pays corporation tax the retailer also then needs to pay workers which is then income tax
so the circle begins again. the faster you spend the faster the cycles cycle

those hoarding value dont circulate it. which hurts governments income streams.

so yes governments want people to spend money as soon as they get it so it circulates faster and they can get several rounds of chunks of tax per year from one allotment of cash

where as those trying to be less reliant on a 'pay-cheque to pay-cheque' lifestyle want to save and invest their income.

[Don Pedro Dinero]

Yes, of course I have thought about it. My goal is not necessarily financial independence but a high level of financial peace of mind, which I have already achieved to a large extent. That is partly achieved by saving and what governments prefer in these casino economies is that you spend. Spend a lot and get into debt, so that you spend your whole life in what is called the rat race.

[avikz]

Have you ever thought about this, what we are trying to achieve in our personal financial life is completely diverge from what the government expects their citizens to do.

We as Individuals always thrive to achieve financial independence in our lives especially someone who is from the average middle person but what the government expects from the middle class is different and is kind of surprising when we give deep thought about it, The Government highly relies on the middle-class tax payers for the money and most of the taxes collected in the form of indirect taxes so that people may not actually aware that they are paying taxes for everything from their salary, fuel, medicine, anything everything has taxes that eat most our earnings.

So as a result we are paying from 10% to over 50% of our earnings just in the form of taxes in one or another way. So one who really wants to achieve financial independence should find a way to reduce their tax pay legally like how the businessmen do.

Or like the bald guy says, we need to find a way to exit the Matrix.

I am sure every middle class person is fully aware of it. They may not aware of the scale though! Some economists have done a calculation on it in my country. So if we fall under the 30% tax bracket and has a certain type of lifestyle, the calculation shows that we work for 4 months in a years for the government and 8 months for ourselves. I have tried to find the video but unable to do so. I will edit my comment if I am able to find the video. A great explanation they have given.

But yes, we are paying taxes on every single thing that we do. That's why we call it a "middle class trap". Governments also know that fact and that's why personal finance is never taught in a school. because the more we know about it, the better we navigate the uncertainties. Governments do not want us to do that!

[angrybirdy]

Have you ever thought about this, what we are trying to achieve in our personal financial life is completely diverge from what the government expects their citizens to do.

We as Individuals always thrive to achieve financial independence in our lives especially someone who is from the average middle person but what the government expects from the middle class is different and is kind of surprising when we give deep thought about it, The Government highly relies on the middle-class tax payers for the money and most of the taxes collected in the form of indirect taxes so that people may not actually aware that they are paying taxes for everything from their salary, fuel, medicine, anything everything has taxes that eat most our earnings.

So as a result we are paying from 10% to over 50% of our earnings just in the form of taxes in one or another way. So one who really wants to achieve financial independence should find a way to reduce their tax pay legally like how the businessmen do.

Or like the bald guy says, we need to find a way to exit the Matrix.

We can't really save a lot if our extra income just goes to pay taxes but we can't do anything because that's what is stated in the law, sometimes it's just unfair because we know where the tax we pay goes especially when it's corrupt the government officials sitting, Sad but that's the truth. Imagine, for everything we purchase, there is a tax on it, the kind that you work overtime to earn extra money and save, but what you earned in overtime, will just be deducted from you because of the tax.

[slapper]

Imagine working your tail off, sweating every day, only to watch over half your paycheck disappear into taxes. We all dream of financial freedom, right? But it feels like the game is rigged against us. Indirect taxes are crazy – we earn money, and we're paying just to spend it. It's no accident, though. This system is designed to keep that middle class spinning its wheels. Just enough to survive, but not enough to really thrive. We're always running but never getting anywhere.

If you want to break out, I mean, really break out, like take the red pill and see how deep this whole thing goes; it's not just about working harder. It's about playing the game smarter. Understanding the rules inside and out, the way the guys at the top do. Why play by their rules when you can rewrite them? There are ways to use the system in your favor, to build wealth that sticks. Doesn't this whole setup just feel wrong? Shouldn't the system work for us, fuel our success, instead of holding us back?

[Davidvictorson]

so yes governments want people to spend money as soon as they get it so it circulates faster and they can get several rounds of chunks of tax per year from one allotment of cash

The system is designed and programmed to take from us.
I don't think there is a way to beat the system legal unless the individual goes off-grid and starts living the mountains or forest.
As long as the individual is receiving the government currency, a portion of it must return to them..safe to say we spend our years working for the government. There's no escaping from it.

[God bless u]

Have you ever thought about this, what we are trying to achieve in our personal financial life is completely diverge from what the government expects their citizens to do.

We as Individuals always thrive to achieve financial independence in our lives especially someone who is from the average middle person but what the government expects from the middle class is different and is kind of surprising when we give deep thought about it, The Government highly relies on the middle-class tax payers for the money and most of the taxes collected in the form of indirect taxes so that people may not actually aware that they are paying taxes for everything from their salary, fuel, medicine, anything everything has taxes that eat most our earnings.

So as a result we are paying from 10% to over 50% of our earnings just in the form of taxes in one or another way. So one who really wants to achieve financial independence should find a way to reduce their tax pay legally like how the businessmen do.

Or like the bald guy says, we need to find a way to exit the Matrix.

Yeah that's the reason that my opinion about this is very strict. These government system will no longer last at the end of this century. People are so fed up from the decisions that they're making especially if we see the Palestine issue and the reaction of students and people in USA.

It's only an example but in general many decisions are made just for the political wars going between leaders so public is getting fed up by this.

[Apocollapse]

It's why macroeconomic and microeconomic are completely different.

In macroeconomic, savings is bad, spending makes economy growths.
In microeconomic, savings is good, spending makes you poor.

The Government highly relies on the middle-class tax payers for the money

Or like the bald guy says, we need to find a way to exit the Matrix.

I would say the government relies on "uneducated people" instead of "middle class people" because rich people should be taxed higher than middle class people, but they can pay the same amount or less than middle class people because they're educated.

The bald guy is damn correct because school make you become government's slaves and they didn't teach to become rich.

[franky1]

so yes governments want people to spend money as soon as they get it so it circulates faster and they can get several rounds of chunks of tax per year from one allotment of cash

The system is designed and programmed to take from us.
I don't think there is a way to beat the system legal unless the individual goes off-grid and starts living the mountains or forest.
As long as the individual is receiving the government currency, a portion of it must return to them..safe to say we spend our years working for the government. There's no escaping from it.

many people do beat the system.. you just have to understand the system first.

the method to beat the system is to learn the tax laws to know how to reduce the amount of tax you pay*. and then also organise your spending habits whereby you keep enough income to then invest. whereby the investments then encourage bigger returns FOR YOU which you then again mitigate the tax implications of those returns. so that your wealth grows rather then your expenditure to the government

*learn when you are suppose to pay(avoid late penalties/fines/costs)
*learn what you are suppose to pay(avoid overpayment)
*learn any exemptions, reductions

[Davidvictorson]

many people do beat the system.. you just have to understand the system first.

the method to beat the system is to learn the tax laws to know how to reduce the amount of tax you pay*. and then also organise your spending habits whereby you keep enough income to then invest. whereby the investments then encourage bigger returns FOR YOU which you then again mitigate the tax implications of those returns. so that your wealth grows rather then your expenditure to the government

*learn when you are suppose to pay(avoid late penalties/fines/costs)
*learn what you are suppose to pay(avoid overpayment)
*learn any exemptions, reductions

Aside learning all about the tax laws in your country, you also mentioned investment. Do you consider buying stocks and shares are investments that can exempt someone from paying taxes?

[TravelMug]

Have you ever thought about this, what we are trying to achieve in our personal financial life is completely diverge from what the government expects their citizens to do.

We as Individuals always thrive to achieve financial independence in our lives especially someone who is from the average middle person but what the government expects from the middle class is different and is kind of surprising when we give deep thought about it, The Government highly relies on the middle-class tax payers for the money and most of the taxes collected in the form of indirect taxes so that people may not actually aware that they are paying taxes for everything from their salary, fuel, medicine, anything everything has taxes that eat most our earnings.

So as a result we are paying from 10% to over 50% of our earnings just in the form of taxes in one or another way. So one who really wants to achieve financial independence should find a way to reduce their tax pay legally like how the businessmen do.

Or like the bald guy says, we need to find a way to exit the Matrix.

Yeah, but if you look at people who are trying to get away from paying taxes, regardless of your status, if you are found and found guilty, it's jail time for tax evasion. And this is what we call reprogramming from the government. Maybe there are wise individual who become rich and then find ways to get around with paying high taxes like the billionaires that we have in the US with all their money foundation. And I think the best weapon is still investment and learn how to fight inflation and keeping our money in let's say crypto to grow and achieved our financial independence and freedom. There could also be taxes to pay in some countries. But for some which is in the gray area, maybe they can take advantage of it right now before their government imposed such taxes on cryptocurrencies.

[Findingnemo]

Aside learning all about the tax laws in your country, you also mentioned investment. Do you consider buying stocks and shares are investments that can exempt someone from paying taxes?

Buying stocks may not be enough to get exception when it comes to tax paying but once you reached certain position like holding stocks worth of million then you can take a loan using those stocks as collateral instead of cashing which you have to pay capital gains tax, the loan money can give you the access to money and lot of benefits when it comes to tax paying. Well this is super deep subject that may need actual knowledge but it's just overview of how it works.

[Sim_card]

The government does not want the average class and low class citizens to grow from that level to the next level, and this is why they have come up with taxes to eat up their income through various taxes, so that they will remain in that level and live from paycheck to paycheck. The government uses taxes to rob us of our hard earned money legally, and there is nothing one can do because they have put it in the law.

[OrangeII]

Under normal circumstances, the taxes used by the government should come back to us in the form of all public services. Such as the comfort of roads, parks, and others. That's why taxes are imposed, namely for the construction and maintenance of it all. However, this also keeps money flowing, because after all the government needs tax payments to pay existing employees. Well, as good citizens, we need to follow the regulations that have been made. If you want to improve your finances, then increase your income, even though your tax payments will also increase. As long as you still live in a country that applies taxes, you have to pay them.

[dothebeats]

This is why it's best to look for a company that will help you in terms of your taxes. There are companies that offer you to work for them as a consultant and not a regular employee, but you get all the perks and benefits of a regular employee while only paying a significantly lower tax. I know this is not really applicable to all countries, but this is something that works for me that ends up me paying lower taxes and keeping a bulk of my salary to myself.

There's also the route of doing business, but taxes are much bloodier in that department compared to working for an employer. At the least, you can dictate all things you want to happen on your business and you get the rest of the time to yourself that you can use for other things that will make you money.

All in all, taxes are really something that is unavoidable, but there are ways to pay just the minimum amount for you to enjoy your hard-earned money. You just have to really look for ways to get that lower tax payment and keep a low profile in order for the government to not go after you and your money.

[Zoomic]

The payment of tax is really necessary for the development of  the country. But in most cases, taxes paid by the people are not regulated, they pay more than what they should pay ordinarily. It is sad to note that the same citizens who pay taxes directly from their incomes and indirectly when they purchase any item, cannot enjoy certain services like medical and academic services in the country due to high charges. This is day time robbery carried out by the government to its people and it is pathetic. Incomes are being taxed and what is left after charging personal income tax is still taxed when you purchase a commodity or enjoy any service. Every government claim they want the best for their citizens but in real sense, everyone is working for the government. They collect a huge part of our earnings and leave very little for us to fend for ourselves with.

[South Park]

Have you ever thought about this, what we are trying to achieve in our personal financial life is completely diverge from what the government expects their citizens to do.

We as Individuals always thrive to achieve financial independence in our lives especially someone who is from the average middle person but what the government expects from the middle class is different and is kind of surprising when we give deep thought about it, The Government highly relies on the middle-class tax payers for the money and most of the taxes collected in the form of indirect taxes so that people may not actually aware that they are paying taxes for everything from their salary, fuel, medicine, anything everything has taxes that eat most our earnings.

So as a result we are paying from 10% to over 50% of our earnings just in the form of taxes in one or another way. So one who really wants to achieve financial independence should find a way to reduce their tax pay legally like how the businessmen do.

Or like the bald guy says, we need to find a way to exit the Matrix.

Always assume that the only person that wants to fulfill your every desire is yourself, even your family is not exempt from this, as even if they may want the best for you, what they think about how this can be accomplished could be slightly different than what you think, so I find it natural that governments not only want you to spend all the money that you earn, they want you to get all the debt that you can so they can get as much taxes out of you as soon as possible, a posture that I think in part explains why carrying so much debt has become so common nowadays.

[Plaguedeath]

This is why it's best to look for a company that will help you in terms of your taxes. There are companies that offer you to work for them as a consultant and not a regular employee, but you get all the perks and benefits of a regular employee while only paying a significantly lower tax. I know this is not really applicable to all countries, but this is something that works for me that ends up me paying lower taxes and keeping a bulk of my salary to myself.

Unfortunately most companies didn't care with that, actually they don't have to care with that especially if you desperately need a jobs and your jobs are easy to be taken by other people, I don't think you have bargaining powers.

This is more like about the workers and the companies, not the countries.

Since most of people are average, they can't do anything except agree with all the rules.

[Uruhara]

Have you ever thought about this, what we are trying to achieve in our personal financial life is completely diverge from what the government expects their citizens to do.

We as Individuals always thrive to achieve financial independence in our lives especially someone who is from the average middle person but what the government expects from the middle class is different and is kind of surprising when we give deep thought about it, The Government highly relies on the middle-class tax payers for the money and most of the taxes collected in the form of indirect taxes so that people may not actually aware that they are paying taxes for everything from their salary, fuel, medicine, anything everything has taxes that eat most our earnings.

So as a result we are paying from 10% to over 50% of our earnings just in the form of taxes in one or another way. So one who really wants to achieve financial independence should find a way to reduce their tax pay legally like how the businessmen do.

Or like the bald guy says, we need to find a way to exit the Matrix.

Well the government will not let us be free from the tax burden. Because the government gets paid from this. I personally don't mind any of that. As long as the government truly maintains its government function in protecting the community and serving the community very well. And most importantly there is no corruption in it. because in fact if a government is free from corruption then tax money from the community will be enough to prosper the community itself. Because as you said, we pay taxes on everything we even use, eat and make. Vehicles, clothing, premises and food are all taxed. And the government actually also has other income, such as from the management and utilization of natural resources in the country itself, such as mining and the like.