Are You Celebrating Your Financial Independence Day?

[Annette Hibbler]

July 2, 1776 was the day the resolution to become free from Great Britain’s royal crown was passed. Two days later, it was publicly read in Philadelphia’s union square. Thus, July 4th has been designated a national holiday to commemorate the day the United States laid down its claim to be a free and independent nation. Many factors led to our founding father’s push for independence stemming from a growing friction between a young fledgling country and King George’s growing abuse through heavy levies and taxes.

Historically, a government will take from the people as much as the people will allow, whether through ignorance or by force. In today’s society there’s a growing sense of entitlement believing that the government should take care of everyone. What they fail to consider is that in reality, it’s the government that lives at the expense of the people!

Former British Prime Minister, Margaret Thatcher said it best, “and Socialist governments traditionally do make a financial mess. They (socialists) always run out of other people’s money. It’s quite a characteristic of them.”

Many wage earners are caught in a rat race. A growing percentage of their income deducted from their wages through failing government programs such as Social Security, Medicare and now Obamacare. Then there are the state and federal taxes which take a larger bite. While wage earners struggle to earn more money, sometimes acquiring a second or third job, they don’t realize that doing so pushes them into a higher tax bracket and thus they pay even more in taxes and towards entitlement programs.

I’m not going to get into politics here but rather simply wanted to point out that the larger the government, the more room for corruption, greed and abuse at the wage earner’s expense. Regardless of what side of the political aisle you stand, there is no denying the obvious. Have you had enough yet?

I have. Therefore, each year I celebrate my growing financial independence from government taxes and entitlement programs. I keep more of my own money in my own wallet than the year prior. Using asset income management I consistently increase my income and simultaneously lower my taxes legally.

So while fat bureaucrats concoct more ways to dig deeper into the wage earners incomes, savings and retirement accounts, you could and should do all you can to shrug off their chains and push out of the rat race. Which begs the question, are you celebrating your financial independence today?