Personal Financial Goals vs Government expectations!

[mvdheuvel1983]

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.

Yea you are making sense, I have watch closely most decision that government make in regards to tax has never favour the citizens, rich people understands this and that's why they default sometimes, the government is our problem, the citizens should grow in that reasoning so that when they work and receive salary for a period of time, they will save and invest in something meaningful if not they will be stagnated financially because of the government tax policy.
The major reason why the government treat its citizen like this, I because they know that if taxes are not that high many individuals will challenge them politically so for this not to happen taxes are used to silence some people.

[Kelward]

But I think of taxes as a good thing. I just wonder how citizens of certain cope with really large taxes to pay. However, without taxes, the government may barely have any money. And that will affect the country at large because what then can the country afford. In most cases these taxes aren’t always that big that paying it is impossible, so I think it’s something we should all comply.

Paying taxes to government is very important for the country to function effectively, without taxes, it won't be easy for them to pay and maintain different sectors like the armed forces, public servants in ministries that doesn't generate funds, and provision of basic amenities. We cannot overemphasize the importance of tax in any country, but where problem lies is tax evasion, where individuals, companies and organizations will not pay tax or not declare their full assets to be taxed, also where corrupt government officials will embezzle public funds including taxes.

[m2017]

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.

A banal conflict of interests between the feudal lord and the peasants: the former wants to receive more taxes, and the latter wants to give less.

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.

The problem with taxes in most cases is not that they are collected, but rather the misuse of taxes (spending for other purposes).

Regarding taxes on cryptocurrencies.
Doesn't the following seem strange to you? Governments want to tax profits from the sale of cryptocurrencies. Ok. The investor takes the risk, but shares the profit with the government. But why then does the government not compensate for losses from investing in cryptocurrencies (not all investments are profitable)? If they encroach on part of the profits, then, in fairness, they bear part of the risks. Otherwise, why would we pay them taxes?

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.

The true tax figure is closer to 50-60% in most countries, and these taxes may be hidden (disguised as various deductions from both the worker and the employer).

One way to legally reduce business taxes is to change the business jurisdiction to countries with a low or near-zero tax rate (for example, Dubai).

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

You can't log out of the system. We'll have to play by their rules (attempts to find a legal way to reduce tax deductions are proof of this).

[Findingnemo]

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.

The problem with taxes in most cases is not that they are collected, but rather the misuse of taxes (spending for other purposes).

Regarding taxes on cryptocurrencies.
Doesn't the following seem strange to you? Governments want to tax profits from the sale of cryptocurrencies. Ok. The investor takes the risk, but shares the profit with the government. But why then does the government not compensate for losses from investing in cryptocurrencies (not all investments are profitable)? If they encroach on part of the profits, then, in fairness, they bear part of the risks. Otherwise, why would we pay them taxes?

I would like to start my reply with a question, whether the collected tax money is spent in any ways at all? Cuase most of them are going into the pockets or under the table of authorities.

The modern-day taxation system is made after inspired by Leech (a parasite that sucks blood) I guess, they will suck from us as much as we have left to give and when we don't have anything then they don't care at all but for the sake of stunt, they have capital loss carryforward system which depends on the country where we live in.


I want to reply to many others too but don't have that much patience to write like JJG since this is kind of wide topic that should be covered with long and clear explanations.

[el kaka22]

The fact that someone who makes median income could pay more taxes per year than some billion dollar company is the proof of this. Billion dollar company could just show some insane expenses, which for example apple most recently did, had like billions in taxes they had to pay, but showed debt as a reason for not paying, many companies do this, even small ones, they show income (revenue) and then they show their debt and expenses, and that means they do not have to pay a single dollar in taxes if their revenue is lesser.

At the same time, when you are a worker, doesn't matter what job, if you are just employed, your salary automatically gets deducted with tax when you have to pay that, meaning some ordinary person may pay more than million even billion dollar companies.

[MissNonFall9]

What we earn and what we spend in our personal lives are included in direct and indirect taxes. In this way the government earns income which it spends or is supposed to spend on the development of the country i.e. the needs of the people. But to a large extent it appears (especially from my country's point of view) that we are getting none of the fair benefits we deserve through direct and indirect taxes paid. That's when our troubles begin. So in such a situation, we want to find many ways to reduce taxes and implement them.

I understand the whole corruption concern and I’ve seen a couple of replies talking about it but I hope you know that your country wouldn’t be what it is today if it wasn’t for tax. It doesn’t matter what country it is, tax has a huge role to play. And if you pay attention, the countries with higher tax are the ones that are usually luxurious. So the country actually needs the money despite some people who hinder it getting to where it should.

There is no doubt that tax enhances the image of a country by promoting everything from infrastructural development to military development scientific research and cultural activities. Again among direct taxes luxury goods are taxed at a higher rate and equality in taxation is provided. So each of us should play a supportive role in these great works ‍especially for political leaders. Adherence to minimum courtesy in cases of corruption (sounds ridiculous but in the context of our country). Even then the development of the country will accelerate and the number of complaints will decrease.

[boyptc]

That is true, the middle class are the ones that contributes the most to the economy. While we're not ignoring what the rich people does, generating jobs and giving employment to the other people.

But they have ways to minimize their taxes. Whilst for the average and middle class people, they have no means to do that.

And what they do is work work work until they get tired and exhausted realizing how much they have contributed to the total economy of our countries.

[harapan]

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.

What an unfair classification towards humans.To live comfortably,there are certain procedures to watch out for,there are all kinds of financial goal that someone has to set for themselves,also,feeling financially secure and comfortable,and being able to financially help a friend or family member is one of the best feelings to a large extent.

Get financially educated,be available with knowledge and financial intellect,develop long lasting financial skills that'll better your financial future against all odds.Pay attention to every signal whether good or bad that you'll encounter,tolerance,risks managemente.t.c,and take take the bold action to achieve your goals.

[Yukyzu]

That is true, the middle class are the ones that contributes the most to the economy. While we're not ignoring what the rich people does, generating jobs and giving employment to the other people.

But they have ways to minimize their taxes. Whilst for the average and middle class people, they have no means to do that.

And what they do is work work work until they get tired and exhausted realizing how much they have contributed to the total economy of our countries.

These two things will certainly help each other, for those who have a lot of wealth they still need middle class people to do what they can't do and for the middle class they can get jobs that give them income.

I agree with you, there are indeed some rich people who avoid taxes, but this is absolutely impossible for the middle class and in this case it will certainly make the rich get richer and the poor can only get an income that can meet their needs.

[boyptc]

That is true, the middle class are the ones that contributes the most to the economy. While we're not ignoring what the rich people does, generating jobs and giving employment to the other people.

But they have ways to minimize their taxes. Whilst for the average and middle class people, they have no means to do that.

And what they do is work work work until they get tired and exhausted realizing how much they have contributed to the total economy of our countries.

These two things will certainly help each other, for those who have a lot of wealth they still need middle class people to do what they can't do and for the middle class they can get jobs that give them income.

Yes, most that are in the workforce are middle class and that's why they're important to a country's economy.

I agree with you, there are indeed some rich people who avoid taxes, but this is absolutely impossible for the middle class and in this case it will certainly make the rich get richer and the poor can only get an income that can meet their needs.

Well, the middle class don't have a way out there but with the wealthy people, they know the ins and outs about taxation and that's why they became rich.

They're doing it legally and we don't know about those that does illegally.

[oktana]

That is true, the middle class are the ones that contributes the most to the economy. While we're not ignoring what the rich people does, generating jobs and giving employment to the other people.

But they have ways to minimize their taxes. Whilst for the average and middle class people, they have no means to do that.

And what they do is work work work until they get tired and exhausted realizing how much they have contributed to the total economy of our countries.

These two things will certainly help each other, for those who have a lot of wealth they still need middle class people to do what they can't do and for the middle class they can get jobs that give them income.

I agree with you, there are indeed some rich people who avoid taxes, but this is absolutely impossible for the middle class and in this case it will certainly make the rich get richer and the poor can only get an income that can meet their needs.

But you should know that if everyone was to avoid taxes, it can bring down the countries economy because there’ll be not enough money to handle/maintain the country. There will always be bad players who either are evading taxes or those who are stoping the taxes from getting where they should, but don’t think it’s okay to be so.

[VanKushFamily.com]

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.

The Government is always 10 Years behind Everyone else.

[Freeesta]

Really! Taxes rise, but wages remain the same. But if there were no taxes, there would be no state. After all, the money you pay is spent on many areas of human life: medicine, the army, road improvement and the construction of municipal institutions. I would like to believe that taxes are spent in full on all these areas. Because the most pressing problem of our time is corruption.

[Hamphser]

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.

Escaping on paying up taxes might be sounding so cool but we do know on where these taxes would be applied on which it is really just that for the betterment of a certain country or into its economy or something that do talks about progress and other relevant or correlated things. The main issue only here is that on how those government officials would really be making use of those taxes in the right way or not really that being corrupted or misused in other way. For me, i dont mind on how many % that they would set out because anyone would really be charged up into that and we do know
on where it would be applied then its better not to make it as a big issue.

The thing here is that if you are making some business then there's no way that you would be able to avoid taxes. You would really be still needing up to pay or would really be that
deducted. Instead on stressing yourself on how to avoid, then it would be better to find for more income source so that you wont be minding that much. 

[Fortify]

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.

That is such a strange way to look at the government, like they are your opposite or your enemy. I don't think politicians are perfect by any means, however in many countries the government offers lots of services that become much cheaper when the collective population pool resources. You talk about taxes as if nobody should ever contribute to anything, yet they allow your country to remain free with an army, it pays for the police force or fire services which often keeps people safe and the upkeep of vast amounts of infrastructure to keep people moving. It's obvious that very few people will actually reach financial independence, at least until they finally reach retirement and hopefully have been saving enough through their lifetime.

[Volimack]

That is true, the middle class are the ones that contributes the most to the economy. While we're not ignoring what the rich people does, generating jobs and giving employment to the other people.

But they have ways to minimize their taxes. Whilst for the average and middle class people, they have no means to do that.

And what they do is work work work until they get tired and exhausted realizing how much they have contributed to the total economy of our countries.

These two things will certainly help each other, for those who have a lot of wealth they still need middle class people to do what they can't do and for the middle class they can get jobs that give them income.

I agree with you, there are indeed some rich people who avoid taxes, but this is absolutely impossible for the middle class and in this case it will certainly make the rich get richer and the poor can only get an income that can meet their needs.

The middle class does not have the ability to hide and escape like the rich. Even if the country is full of corruption they have to pay taxes to the government within their limits. Rich people who evade income tax don't show it even if they have money in the bank And for this a class of officers of Bank and NBR help them in exchange of benefits and they keep a part of their income outside the banking channel and smuggle it out of the country.

[Cryptomultiplier]

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.

That is such a strange way to look at the government, like they are your opposite or your enemy. I don't think politicians are perfect by any means, however in many countries the government offers lots of services that become much cheaper when the collective population pool resources. You talk about taxes as if nobody should ever contribute to anything, yet they allow your country to remain free with an army, it pays for the police force or fire services which often keeps people safe and the upkeep of vast amounts of infrastructure to keep people moving. It's obvious that very few people will actually reach financial independence, at least until they finally reach retirement and hopefully have been saving enough through their lifetime.

I think the taxation these days have become a major source of revenue for the government like the way it is in my country. For sure everyone has to find cheaper ways to fulfil their tax quota because taxes help in nation building and that's what the government uses to develop infrastructures and industries that provides a source of livelihood to the masses.

The reality of the rat race is what we should be aware of in any work situation we are faced with and thus find a way to get out of it.
Regulations and regulatory bodies are growing everyday in almost every aspect of the economy that is a means of income and it goes to show that one's true financial goal should be to become economically independent, and this entails investment in areas or ideas that has the potential of bringing steady returns and has little tax quotient attached to it.

[Fatunad]

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 should be thinking off about on the actual usage of that tax then it would really be something that pertains about having those development within the country on which it would be something that will be used on building infrastratures or making some livelihood program and other programs that will really be benefited by its citizens.I do agree into those words above that people will really be just that having some issues about trust into the government on which we know that money that being pooled with those taxes are really that just too big. If it turned out to be mismanaged then it would really be ending up that kind of having no progress
and they are the only ones that will really benefit out with those amounts on which we know that it should really be something that be used into those real means.
Whether we do like it or not, we would be taxed or charged up or on whatever deductions that we could have: from buying goods and wants, or salary deductions or simply everything is taxed out
on every actions that you are making or dealing with.

[Findingnemo]

That is such a strange way to look at the government, like they are your opposite or your enemy. I don't think politicians are perfect by any means, however in many countries the government offers lots of services that become much cheaper when the collective population pool resources. You talk about taxes as if nobody should ever contribute to anything, yet they allow your country to remain free with an army, it pays for the police force or fire services which often keeps people safe and the upkeep of vast amounts of infrastructure to keep people moving. It's obvious that very few people will actually reach financial independence, at least until they finally reach retirement and hopefully have been saving enough through their lifetime.

Well, well, look what they made us into, someone who work their life and struggle for everything while the leaders will enjoy everything with the tax payers money and don't think about who are actually helping the nation to keep running. Spending tax money for defence accepted to certain level but using it to finance war for other countries for decades now here tell what do people actually benefits from this? I don't want to work my ass off to finance war that's happening somewhere which is none of my business.

[coolcoinz]

You grow up to understand that government wants you to use all the things it creates for you and not all of them are good. Usually if the government tells you to do something it's counterproductive and will cost you money. Usually you should do the opposite of what they're telling you.

Some of the things governments told people to do:
Enlist in the army, buy bonds, don't buy bitcoin because it's bad for environment, keep money on a bank account, don't use cash, buy electric cars.
It's funny that when they recommend something it's not allowed to call it a scam.