Have you ever thought about what the Government might be capable of in times of financial desperation? What would you be capable of in desperate financial times? Would you steal to feed your family? Would you kill someone to save your own life or the life of your child?
Typically, we don’t think about these things, but I’m sure the people of Cyprus didn’t expect their Government to steal their money directly out of their bank accounts!
What happened in Cyprus is a great wake-up call for Americans. Yes, we have more “clout” as a Country, but is our financial circumstance any better? Take away the United States’ Credibility and we are much worse off. That’s how fragile this is. The Cyprus Government’s plan to STEAL money from it’s citizens by closing the doors at the banks and implementing a one-time tax on their deposits got shot down today. It took an uprising to stop it.
When a Government entity is strapped for cash, they use very simple-minded techniques to try and raise money (usually). They attempt to increase cash-flow from the revenue channels that already exist. So what are some of the channels that don’t involve any legislation to bring in additional funds?
Federal Government – IRS enforcement. New agents are being hired in droves as we speak…
State Government – Early release of prisoners and tax enforcement. That’s something to really look forward to…
Local Government – Traffic violation fines and parking tickets. The meter-maid nazi’s are already ticking off everyone in my neighborhood. Expect it to get worse…
Other topics covered on today’s program:
– The best Estate Plan EVER
– Dealing with the IRS and using the Law to your advantage
– Details about the vote in Cyprus and what we can expect here in the States as a result
Today’s On-Air Guests:
Jarod Cauzza, my attorney and San Diego Estate Planning Expert, with Neil-Dymott Attorneys.