29
Mar
2016
Pay Tax Now or Later?
In this podcast and this blog post, Carlos and I help our audience to think through the ramifications of popular savings vehicles that allow a person to affect the timing of paying income tax.
In this podcast and this blog post, Carlos and I help our audience to think through the ramifications of popular savings vehicles that allow a person to affect the timing of paying income tax.
It’s a good discussion… probably should go to a more generic discussion on sovereign risk for investors.
You do extra work today, and what you want is in future someone else repays the favour by doing extra work for you. This is the basis of the entire social trust relationship with regards to investment. So, of course, circumstances can change and then you don’t get back what you thought you would. It’s endemic though… there is nowhere to hide from sovereign risk.
You could buy gold, but FDR already stole the gold. You could buy a physical asset, but assets can be taxed, or worse.
I agree that evil forces are looking at those retirement funds… in Australia we have compulsory Superannuation, which is privately administrated but government regulated. They have tinkered with the tax situation several times now, and everyone has in the back of their mind it’s going to get taken… just not sure when and how.
Ad the saying goes, “Property is theft.”
Government type people see everything as rightly belonging to them, and anything they let you have is special generosity.
Can I defer my income tax until after the collapse?