subject: Creating Wealth - Gain The Tax Advantages Of The Rich [print this page] Creating Wealth - Gain The Tax Advantages Of The Rich
How can you get the tax breaks for creating wealth and other advantages of large companies and true investors? Basically, creating wealth is about being less selfish or greedy and instead giving more and being more generous. Let me clarify: the more jobs you are able to create, the more housing you're able to provide, the more resources you're able to develop and bring to market, the more products you're able to offer, the more people you're able to serve and lives you can affect, the more you will stimulate the economy and the bigger a person you must become. However, those that are too greedy and selfish - those that continue to demand more and take more and think only of themselves or their family while contributing less and less - will continue to pay more and get more penalties. This is why we have our current financial crisis: too much greed and not enough generosity. One of the #1 rules of the Rich is that they don't work for money. When you work for money the Fed takes your moneythrough taxes, inflation and retirement plans. (That's why it's gone...) If you do not have basic money skills (to develop assets that produceincome and cash flow, thereby creating wealth), then you have no choice but to work for money and again the Fed will take it from you. So if you want to get richer you have to be more generous. Help more people so they can become better off and the better off you will then become. Here's an example: someone who goes out and buys a rental home often times believes that simple act qualifies them as an investor. They believe that one unit in and of itself - qualifies them as an investor. But that one unit does not meet the above definition of a true investor, of being generous. You may have invested money, but you are the one who really benefits from it, having not created many (if any) additional jobs so it fits into more of the selfish or greedy range (but hey, you've got to start somewhere - just realize you need to scale-up to really make a difference and really begin creating wealth!) The fact is that once you're truly being generous and providing housing for many, many different families - once you have acquired around 1,000 units for example, then you become a true investor. Realize you are rewarded for being generous and providing more housing which impacts others more than it does you, requiring demand for more jobs to service those units, provide utilities, landscape them, make repairs, etc. As a reward for your generosity, significant tax benefits and better debt financing becomes available to you as well. So as you can see, it pays to be generous.
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