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Did you know about the 12 USC 531 exemption? It's in the US code on house.gov. Effective October 1st, 2023, Federal Reserve Banks, their capital stock, surplus, and income are exempt from federal, state, and local taxes.

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The speaker argues that using debt to acquire property reduces tax payments. They claim that taxes are a Marxist concept and that a progressive income tax supports communism. They mention the Boston Tea Party as an example of America being tax-free until the creation of the Federal Reserve in 1913. The speaker believes that the harder one works and the more money they make, the higher their taxes, which they equate to communism.

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Robert De Niro and Barbara Streisand received PPP loans. Streisand took out $200,000 through her film company to pay her groundskeepers and gardeners for her Malibu mansion, despite her net worth of $430 million. De Niro secured a much larger loan of $27.7 million for his restaurants, with a similar net worth. This raises questions about the use of PPP loans among celebrities. Were you able to get a loan? It's legal, after all.

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The US financial situation has some symptoms that are difficult to diagnose. Many believe the problem is high taxes, and while US taxes are indeed very high, that's not the core issue. The real problem is that even with high taxes, they aren't truly funding the government. Instead, the government is financed by treasury bonds, largely bought by the Federal Reserve. The Fed buys these by printing money, backed by the treasury bonds themselves. Essentially, the government is financed by printing money out of thin air. One might ask, if the government can print unlimited money, why collect taxes at all? The shocking answer is that high taxes exist to maintain the illusion that you are funding the government, which you are actually not.

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Federal Reserve notes are not taxable income because they are a debt. The 10.40 bonds were used to support the war effort, and although people invested in them, they were not guaranteed to get their money back. The IRS originated from the alcohol, tobacco, and firearms agency in Puerto Rico and is not part of the US government. By law, we are only supposed to pay taxes to support essential governmental services, but the current system forces us to pay for more than what we actually receive. This is like being forced to pay for 18,000 hamburgers when there are only 19 listed on the menu.

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The speaker owns 12,000 rental units acquired through debt, stating that more debt leads to more property and less tax. They believe paying taxes is a Marxist idea and against American principles. According to the speaker, Marx considered a progressive income tax essential for spreading communism. They claim America was founded as a tax-free nation until the creation of the Federal Reserve and the IRS in 1913. They assert that they legally pay no taxes, while those who work harder pay higher taxes, which they equate to communism. The speaker concludes it's an American duty not to pay taxes, citing the Communist Manifesto.

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The speaker asserts that you cannot legally pay your taxes. They state: “tax dollars have been spent in a global crime syndicate,” and “you now know this and it’s provable,” which means “if you willingly pay your taxes you now are a willing participant and co conspirator.” The guidance given is for when you file an exemption: “This is what you’re gonna say when you file an exemption. Owe back taxes? This is what you’re gonna tell your agent.” The agent will threaten you, and you should respond with, “I said that I will not be a willing participant in a global crime syndicate.” The speaker says you should repeat it, “and you repeat it again.” They advise to “play the congress game” and claim that “you legally cannot pay your taxes now that you know this. It is against the law.”

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Here's the ultimate tax loophole the rich exploit to live tax free. It's called Buy Borrow Die. Step one, buy appreciating assets—"Typically, they look at the stock market." Step two, borrow—"You use your portfolio as collateral and you take a loan out against it." They avoid selling because "there's no tax implication" on loans, while selling would incur capital gains tax. If the portfolio appreciates faster than the loan's interest, they could "take out another loan to pay back the old one and rinse and repeat." Step three: after death, they can "take their entire portfolio that's been appreciating for decades, pass it off to the heirs at a stepped up basis, and then the cycle can start anew." "Be sure to keep following for more money saving tax hacks."

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Many of you benefited from the $1.9 trillion tax cut, which is great to hear. However, if you're like me, your taxes will actually increase, not decrease.

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Speaker 0: In America, we don't have a tax problem. We've got a third world problem. This is not an exaggeration. The United States collects over $2,400,000,000,000 in income taxes every year and then burns $1,500,000,000,000 through fraud, waste, and third world robbery. If the elites actually did their jobs and cut out the waste, the government would only need about $900,000,000,000 to function. And here's the crazy part. That would mean anyone earning under $500,000 a year could pay zero income tax, and everything would still be fully funded. So if this money isn't funding our future, whose dream is it really building? Look at Minnesota. The Somali daycare scandal gave us the answer. Billions of dollars you worked for, money meant to feed hungry kids, was diverted through fake daycare centers, phantom meals, and paperwork designed to approve. Not question, no kids, no food, just checks. Your hard earned labor was turned into Lamborghinis, beachfront mansions, and luxury vacations most of us will never experience even after a lifetime of honest work. On top of that, your tax dollars were routed to foreign organizations The US Military is fighting. Let that sink in. We went from defending liberty to bankrolling the threat. That's not compassion. That's collapse. And when systems fail like this, they don't admit mistakes. They don't apologize for wasting your money. They dig deeper into your pockets to fund their failure.

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You won't believe who else with a $2.5 billion network applied for a $1 million PPP loan during the pandemic – Oprah! Her production company, Harpo, secured the loan for payroll. You really can't blame her, especially with California's high cost of living. As I always say, "The biggest adventure you can ever take is to live the life of your dreams." Also, remember that "Real integrity is doing the right thing, knowing that nobody is going to know whether you did it or not." Just something to keep in mind, considering PPP loans are intended for small businesses.

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I'm a billion dollars in debt. You're a billion in debt. Is that all in real estate, or did you use debt to buy gold mines as well? No. I used debt in real estate. Let's say I buy a property. I finance it. Then we refinance it. We borrow out the equity with the refinance equity about the gold mine. And guess what pays for the debt? This. And I still own the gold mine. And that's why I went to tons of gold. So the smartest guys on earth are real estate guys like Trump, you, and me. We borrow this to buy this that buys this apartment house, buys that. It's called finance. Yeah.

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I became rich by investing wisely and keeping money circulating. Stagnant money is useless. Investing in a corporation requires understanding financial reports. After investing, there is a consultation fee. Money should always be put to work to grow. Investing wisely is an art that stimulates the economy.

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The speaker questions the practice of banks taking actual cash value from borrowers, using it to fund bank loans, and then returning it as a loan with interest. The judge acknowledges that this is a common practice and that Congress allows it. The speaker highlights that borrowers essentially give their own money to the bank for free, which the bank then loans back to them. The judge confirms that this is the bank's policy. The speaker emphasizes that borrowers are unaware of this process and urges people to educate themselves about the financial system.

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Howard Lutnick designs a system of tariffs to tax companies in America, an illegal tariff tax. They get taxed, pay in these millions. Trump says it's billions, but it's illegal. So the courts are gonna overturn it. So before the court Lutnick knows it's illegal, he created it. So before the courts turn it over, he has his sons run out and buy up the debts for, like, 20 to 30¢, not the debt, the claim against the government. So so let's say a company paid a million dollars to the government in tariffs. Lutnick's own sons went and said, we'll give you 200 to 300,000 of that million now. You no longer have a lien against the government in case we find out that those tariffs were illegal. Those tariffs that my dad designed were illegal. Then the supreme court says the tariffs are illegal, and Lutnick's sons now go collect the million dollars back from the government. So instead of the American corporations getting back the tariffs that were illegally taxed to them or the American people who paid the higher rates. Lutnick, who designed the illegal tariff system, is going to pocket it all with his family just like just another grift.

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I own 12,000 rental units using debt to minimize taxes. Taxation is seen as a Marxist concept, with progressive income tax aiding communism. America was tax-free until 1913 when the IRS was established. I legally avoid taxes, while hard workers face higher taxes, resembling communism. It's our duty as Americans to resist paying taxes, as outlined in the Communist Manifesto. Translation: I own 12,000 rental units using debt to minimize taxes. Taxation is seen as a Marxist concept, with progressive income tax aiding communism. America was tax-free until 1913 when the IRS was established. I legally avoid taxes, while hard workers face higher taxes, resembling communism. It's our duty as Americans to resist paying taxes, as outlined in the Communist Manifesto.

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Robert De Niro and Barbara Streisand both received PPP loans. Streisand took out $200,000 through her film company to pay her groundskeepers and gardeners for her Malibu mansion, despite her net worth of $430 million. De Niro secured a much larger loan of $27.7 million for his restaurants, also with a net worth of $430 million. This raises questions about celebrity access to financial aid during the pandemic. Were you able to secure a loan?

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To beat the banks and pay off loans faster, make daily $1 payments on variable interest loans to minimize compound interest. By doing so, you can reduce mortgage terms from 25 years to 5 years and pay no interest. This strategy can also be applied to credit cards and car loans. Banks may discourage this method, but it is a legal way to save money and achieve financial freedom. Understanding finance is key to outsmarting financial institutions and becoming debt-free sooner.

My First Million

17 Business Hacks From A Serial $100M Founder
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In this episode, hosts Saam Paar and Shaan Puri discuss the benefits and logistics of owning a private jet, specifically a Citation CJ3+, which the guest, Jess Ma, uses for business efficiency. Jess shares insights from interviewing wealthy individuals about financing airplanes, revealing that one doesn't need to be extremely wealthy but rather have a significant tax bill and good cash flow. He explains the tax advantages of owning a plane, including accelerated depreciation, which allows for substantial tax write-offs. Jess, an entrepreneur who started his first company at 19, emphasizes the importance of generating business ideas through conversations rather than traditional brainstorming. He discusses his process of collecting ideas from various sources, including friends and industry experts, and highlights the significance of being open to multiple perspectives on taxes and business strategies. He shares several business ideas he's exploring, such as "Doge as a Service," a software platform to track employee productivity, and a vertical agent service tailored for specific industries. Jess also reflects on his entrepreneurial journey, acknowledging failures like a credit repair business that didn't succeed due to regulatory challenges and a veterans' job placement service that faltered when funding dried up. The conversation touches on the mindset of successful entrepreneurs, emphasizing the need to be realistic about the present while remaining optimistic about the future. Jess advocates for creating opportunities for serendipity by connecting with interesting people and engineering events that foster collaboration. He concludes by inviting listeners to share unique business ideas with him, showcasing his commitment to continuous learning and networking.

My First Million

Making Billions with Greeting Cards & Rich People (not) Paying Taxes | My First Million #192
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In this episode, hosts Saam Paar and Shaan Puri discuss various intriguing topics, starting with the surprisingly lucrative greeting card and e-card business, exemplified by American Greetings, which generates over a billion dollars in revenue. They also explore the innovative tech stack of Chick-fil-A, which uses advanced sensors and machine learning to optimize order fulfillment, allowing the restaurant to handle three times its intended output. The conversation shifts to the FBI's clever takedown of criminals using a deceptive app called Anon, which mimicked secure messaging services, leading to the arrest of numerous offenders. They highlight the success of Bump Boxes, a subscription service for pregnant women, which has reached $40 million in sales by curating essential products for different pregnancy stages. Additionally, they delve into the tax strategies of wealthy individuals, revealing how many live off loans secured against their assets, often expecting these loans to remain outstanding indefinitely. The hosts also touch on the rise of privacy-focused tech companies like DuckDuckGo and ProtonMail, predicting a growing demand for privacy solutions in the future. Lastly, they discuss the potential for a new consulting firm that specializes in tech solutions, contrasting it with traditional firms like McKinsey, and conclude with a nod to Brock Pierce, a former child actor turned Bitcoin billionaire, emphasizing the unexpected paths to wealth in the tech world.

The BigDeal

How I Built 12 Income Streams Without Tons of Cash
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There is clear data that shows the most likely way to get rich: diversify with multiple income streams. The speaker cites that 65% of self-made millionaires have three or more income streams and argues the richest don’t just start new businesses; they buy them to generate cash flow from day one. He claims you can use acquisitions and creative financing to build 12 income streams from one business. To implement this, he explains three pillars buyers rely on: your own advisory team, your own investment committee, and a deal team. The path includes 10 steps: purchase clarity, origination, outreach, evaluation, offer and negotiation, due diligence, financing, close, and running the first 90 days. He shares a laundromat case: bought for 75K, integrated into our businesses. Now an operator runs it. I'm trying to make it a million-dollar-a-year business. Then we added vending machines; acquired a competitor; used asset deals to add machines; launched a delivery service; built a soap brand; and purchased the real estate, creating seven income streams in one business.

The Pomp Podcast

How the Rich Borrow Against Bitcoin Without Ever Selling
Guests: Shehzan Maredia
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This podcast episode features Shehzan Maredia, founder of Lava, discussing how high-net-worth Bitcoiners can access liquidity and enjoy their wealth without selling their Bitcoin. The core problem addressed is that many Bitcoin holders, whose wealth has significantly appreciated in dollar terms, want to utilize their assets for major purchases like homes and cars, but are reluctant to sell due to the "never sell" ethos and potential tax consequences. Traditional banks often don't recognize Bitcoin as collateral, leaving these individuals feeling like "outcasts" in the financial system. Lava aims to solve this by providing Bitcoin-backed lending solutions. Maredia explains the "Buy, Borrow, Die" strategy, a common practice among the wealthy where appreciating assets (like equities or real estate) are borrowed against rather than sold, avoiding capital gains taxes and maintaining exposure to upside. Lava applies this strategy to Bitcoin, allowing users to borrow against their holdings at competitive rates (e.g., 5% interest) while Bitcoin continues to appreciate. The company offers two main products: a traditional loan with fixed terms and monthly payments, and a flexible line of credit (BeLOC) with open terms and no required monthly payments, catering to users like a teacher with $10 million in Bitcoin or an angel investor awaiting a liquidity event. These loans are over-collateralized, with Bitcoin held securely and never rehypothecated, and liquidation only occurs if Bitcoin's price drops below a certain LTV threshold, which users can prevent by adding more collateral. Lava's business model involves earning a small margin on the cost of capital for loans, though they aim for break-even on the loan product itself. Their broader vision is to be a technology company for Bitcoin wealth management, offering additional financial services like buying Bitcoin with zero fees and facilitating dollar payments. A forthcoming product is a card that draws directly from a user's Bitcoin-backed line of credit for point-of-sale purchases, enabling a "Bitcoin standard" lifestyle where individuals can get paid in Bitcoin, save in Bitcoin, and spend without selling, all while their employer and merchants remain unaffected. Lava emphasizes Bitcoin as a sound savings asset, measuring success by how much more Bitcoin users accumulate through their platform.

My First Million

$250M Founder Reveals How The Rich Avoid Taxes (Legally) | ft. Ankur Nagpal
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In this episode, hosts Saam Paar and Shaan Puri discuss taxes with Anor, the founder of Teachable, who sold his company for over $200 million. Anor emphasizes that the U.S. tax code favors business owners and real estate investors, suggesting that aspiring entrepreneurs should consider starting a business to optimize their taxes. He highlights the Qualified Small Business Stock (QSBS) tax break, which allows founders to avoid taxes on up to $10 million in gains if they hold shares in a C corporation for five years. Anor shares strategies for reducing tax liabilities, including the benefits of owning real estate and utilizing a solo 401(k), which allows individuals to contribute significantly more than traditional retirement accounts. The conversation touches on the challenges faced by high-earning W2 employees, particularly in high-tax states like California, where they often pay substantial taxes. Anor shares personal anecdotes about navigating the tax system and the importance of proactive tax planning. He also discusses the cultural perceptions around money and happiness, advocating for a mindset where money serves as a tool for freedom rather than a source of stress. The episode concludes with Anor promoting his new venture, Carry, which aims to help individuals manage their taxes and retirement savings effectively.

The Koerner Office

How to Legally Avoid Paying (most) Taxes
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Brian Bourgery shares his move from Utah to Puerto Rico with his family to capitalize on significant tax incentives and a vibrant startup ecosystem. He explains that Puerto Rico is a U.S. territory with its own tax code, offering low corporate tax rates, zero federal income taxes for U.S. citizens, and attractive incentives for research and development. The conversation covers how he and his company leveraged Act 60 (now part of a broader incentive framework) to reduce taxes on distributions for owners and to structure management services through a Puerto Rican entity. Brian highlights the practical mechanics: shifting back-office functions, billing, and employment considerations to the island, and the impact on bottom-line profitability through tax credits and favorable rates. He also discusses the timing and strategic planning required to maximize benefits, including the importance of living in Puerto Rico for several years to realize exit-related tax advantages. Beyond numbers, the episode illuminates the local ecosystem—Invest Puerto Rico’s public-private role, a growing network of founders, investors, and service providers, and the cultural and lifestyle adjustments involved in relocating. Ultimately, the dialogue presents a nuanced view: the incentives can dramatically improve post-tax income for owners and early-stage companies, but success depends on thoughtful structuring, long-term residency, and finding the right community within the island’s diverse regions. The episode also explores the broader context of Puerto Rico as a business destination, clarifying misconceptions about geography, costs of living, and the mix of urban and rural opportunities. It conveys that while incentives are powerful, they coexist with realities such as higher import costs for cars and variable housing prices, making due diligence essential for anyone considering a move to optimize taxes while maintaining quality of life.

My First Million

How To Write Off $1,000,000 In Taxes (#447)
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The hosts discuss a tax strategy involving Film Production tax credits that allows wealthy individuals to significantly reduce their tax liabilities. They explain that by investing in film production, one can write off the entire cost of the film before it is even made, thanks to changes made during Obama's presidency. For example, a $1 million film investment could yield a $400,000 tax deduction for someone in California, requiring only a $150,000 cash outlay. They elaborate on how states incentivize film production by offering tax credits, which can cover a substantial portion of the film's budget. This system allows investors to leverage tax benefits while financing movies, even if the films do not turn a profit. The conversation highlights how companies actively seek out film projects to provide tax write-offs for their clients, making it a lucrative strategy for the wealthy. The hosts also touch on the broader implications of this system, noting that it creates a cycle where wealthy individuals fund films primarily for tax benefits rather than artistic merit. They mention the Obamas' production company, Higher Ground Media, as an example of how this strategy is utilized in the industry. Additionally, they discuss the financial success of Andrew Wilkinson's company, Tiny, which recently went public. They highlight its diverse portfolio, including profitable agencies and job boards, and the strategic decisions that led to its growth. The episode concludes with a lighthearted discussion about the complexities of managing assets and the importance of having a plan for one's financial legacy.
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