For this status post I had to pass on a segment of Peter Schiff’s recent podcast where he discusses the relationship between your employer, government regulations, and you as an employee.
Who Pays for Government Programs?
In the linked podcast, Peter covers how government mandates something that costs an employer money to deliver that government and therefore elected officials seem to offer the employee and voters something for which another person or organization has to pay. How convenient for those running for public office to say “vote for me” and leave someone else holding the bag. The effect this can eventually have is that an employer hires less people, furloughs or RIF’s current employees (reduction in force) so that the cost of labor doesn’t hamper their ability to stay in business, keep the doors open, and keep the employees they already employ.
Very often though, that’s how it works. What many people don’t realize is that the same taxpayers targeted with higher taxes and more regulations required by government become less motivated to stay or continue to build the business that hire people and create jobs. Successful people have both the skills and the financial means to take their game and either discontinue their company or simply pick it up and move it to a socio-political climate that makes it easier for them to succeed.
Why Take the Rough Path?
Why clamber up the steep rough trail when there’s a smoother path that takes you even higher up the mountain? That’s the point I often make when I share the options to grow one’s personal savings, retirement and family wealth. Why are you working so hard only to have brokerage fees, adviser fees, mutual fund fees, Wall Street volatility, government taxes, and inflation on top of all that make it so difficult for you to get ahead?
Wouldn’t it be refreshing if there were strategies whereby you could legally avoid nearly all of that rough terrain for your personal climb?
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(Podcast topic segment starts at 24:57 and runs to 35:39 on the cost of employee benefits to the employee.)