How to Protect yourself From the Bailout….er, Rescue Plan
Nancy Nuce asked:
For weeks, we have been bombarded by the media coverage of the so-called economic “bailout”.
No one could explain exactly what this plan was. All they would tell us was that it was “necessary”. They kept trying to tell us that, no, no, they weren’t “bailing out” Wall Street. They were preventing an economic collapse, but no one could explain how that was going to work.
After the House of Representatives voted down the first version, some of those trying to ram it through began to call it a “rescue plan”. They began to use scare tactics. They told us that unless this plan passed, we would all be in deep trouble.
They said that unless it passed, regular people would not be able to get a loan to buy a house. We would not be able to buy a car. Our credit cards would be cancelled, or at the very least, our credit limits would be lowered.
They said that our employers would not be able to get loans to pay our paychecks – that people would lose their jobs.
So, our Congress, not wanting to be blamed for that disaster, passed the plan. Now, we await the fallout.
They are attempting to reassure us that we will not be affected by this, they are going to make it pay for itself.
Yeah, right.
Does anyone actually believe that we, the taxpayers, will not be adversely affected by this fallout? I think not.
No matter what they call it, bailout or rescue plan, it is going to cost a minimum of $700 BILLION dollars – IF they come in on budget. I ask you, when was the last time the government did ANYTHING that came in on budget?
The average working class family currently makes less than $50,000 per year. That means that this plan will cost – at least – the entire yearly salary of more than 14 MILLION families! And make no bones about it, it WILL be the average working class family who will end up paying the price. (What, you thought that the guys making the big bucks were going to pay?)
But all is not lost. You CAN protect yourself from these well-meaning politicians and the plan that they claim to have passed for your own good.
The answer is to bailout yourself by accumulating as much tax-free money as you possibly can, as soon as you can. That way if they decide to tax your hard-earned paycheck, you will have a cushion to fall back on.
The best way I have found to do this is with a cash gifting program. The premise is simple, it’s easy to do. Because you are receiving gifts – not selling something – the IRS and Social Security do not consider it “income”. Therefore, you pay no tax – according to my accountant.
But don’t take my word for it. I can’t begin to explain it properly. I’m not an expert or even a salesperson or a tax accountant. I’m just a regular person who is receiving money.
Get the full explanation and all of the information you need to get started at my website
For weeks, we have been bombarded by the media coverage of the so-called economic “bailout”.
No one could explain exactly what this plan was. All they would tell us was that it was “necessary”. They kept trying to tell us that, no, no, they weren’t “bailing out” Wall Street. They were preventing an economic collapse, but no one could explain how that was going to work.
After the House of Representatives voted down the first version, some of those trying to ram it through began to call it a “rescue plan”. They began to use scare tactics. They told us that unless this plan passed, we would all be in deep trouble.
They said that unless it passed, regular people would not be able to get a loan to buy a house. We would not be able to buy a car. Our credit cards would be cancelled, or at the very least, our credit limits would be lowered.
They said that our employers would not be able to get loans to pay our paychecks – that people would lose their jobs.
So, our Congress, not wanting to be blamed for that disaster, passed the plan. Now, we await the fallout.
They are attempting to reassure us that we will not be affected by this, they are going to make it pay for itself.
Yeah, right.
Does anyone actually believe that we, the taxpayers, will not be adversely affected by this fallout? I think not.
No matter what they call it, bailout or rescue plan, it is going to cost a minimum of $700 BILLION dollars – IF they come in on budget. I ask you, when was the last time the government did ANYTHING that came in on budget?
The average working class family currently makes less than $50,000 per year. That means that this plan will cost – at least – the entire yearly salary of more than 14 MILLION families! And make no bones about it, it WILL be the average working class family who will end up paying the price. (What, you thought that the guys making the big bucks were going to pay?)
But all is not lost. You CAN protect yourself from these well-meaning politicians and the plan that they claim to have passed for your own good.
The answer is to bailout yourself by accumulating as much tax-free money as you possibly can, as soon as you can. That way if they decide to tax your hard-earned paycheck, you will have a cushion to fall back on.
The best way I have found to do this is with a cash gifting program. The premise is simple, it’s easy to do. Because you are receiving gifts – not selling something – the IRS and Social Security do not consider it “income”. Therefore, you pay no tax – according to my accountant.
But don’t take my word for it. I can’t begin to explain it properly. I’m not an expert or even a salesperson or a tax accountant. I’m just a regular person who is receiving money.
Get the full explanation and all of the information you need to get started at my website