DETROIT, March 20, 2019 /PRNewswire-PRWeb/ -- If socialists like Bernie Sanders and Alexandria Ocasio-Cortez (AOC) have their way, there will be way less billionaires in the U.S., and not because of the 70-90% taxes they propose on the rich.
As venture capitalist Vinod Khosla recently said, "Here's the problem with those (high taxes)--there is international mobility." Billionaires can set up businesses anywhere in the world they want; when politicians try to overtax the rich, they'll simply move where they're welcome and treated fairly, as the U.K.'s richest man Jim Ratcliffe moving his operations to Monaco last month perfectly illustrates.
Says author of 'Beyond Billions' David Roy Newby, "If politicians truly want to help average citizens improve their lives financially, they'll drastically cut government spending and ease the tax burden on their citizens, not kill jobs through excessive taxes on 'the rich.'"
How can individuals increase their wealth the fastest? By loving, appreciating, and emulating their favorite billionaires.
Love- thank billionaires for inspiring others, encourage them to keep providing massive value to the marketplace, and give them a hug when interacting with them (a side hug in case they're germ-conscious like Donald Trump). Billionaires have feelings just like everyone else, and they need love and encouragement.
Appreciate- basically this is doing the opposite of how AOC drove Amazon out of New York recently. Citizens should encourage their local, state, and federal officials to slash government spending and lower everyone's taxes. This will make it easier and most likely for billionaires (and other job creators) to provide good-paying jobs in their local area.
Emulate- set up a corporation to lower taxes, live within one's means, invest wisely, and increase skills and ability to add more value to the marketplace. Doing these things, anyone can amass wealth quite quickly.
The ultimate way to emulate billionaires is to follow the Rockefeller-Templeton Rules: give 10% to charity, live on 50% of one's income, and wisely invest the other 40%. Says Newby, "When you make the sacrifices necessary to slash your expenses, and wisely invest your savings modeling King Solomon, you can create massive wealth. There's never been a better time than now to massively improve the world, and maybe even become a billionaire yourself in the process."
The main question of the 2020 election cycle should be: how big of a government do citizens want to pay for? Citizens would do well to demand a leaner, more responsible, and more accountable government, and politicians would do well to embrace their inner billionaire and slash expenses, making it easier for others to pursue happiness with fewer tax burdens.
SOURCE Legacy Builders
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