Chapter
The Impact of Government Spending on Taxes and Investments
31:18 - 37:24 (06:05)
The increasing government spending could lead to inflation, which either requires injecting more money into the government, more tax dollars, or investing in assets such as real estate, stocks, or cryptocurrency. Hiring more agents to audit and collect more money can also be a solution.
Clips
Wealth building is an incremental process that takes time and patience.
31:18 - 32:00 (00:41)
Summary
Wealth building is an incremental process that takes time and patience. Any sudden spike in wealth should be approached with caution and careful consideration.
ChapterThe Impact of Government Spending on Taxes and Investments
Episode5 Ways To Build Wealth [MASTERCLASS] EP 1363
PodcastThe School of Greatness
The speaker discusses his experience with both passive and active investing and explains his current strategy of passively investing money.
32:00 - 33:50 (01:49)
Summary
The speaker discusses his experience with both passive and active investing and explains his current strategy of passively investing money.
ChapterThe Impact of Government Spending on Taxes and Investments
Episode5 Ways To Build Wealth [MASTERCLASS] EP 1363
PodcastThe School of Greatness
The Inflation Reduction Act, recently signed by President Biden, invests 80 billion in the IRS which will hire more people to audit taxpayers as a way to collect more money from them.
33:50 - 34:50 (01:00)
Summary
The Inflation Reduction Act, recently signed by President Biden, invests 80 billion in the IRS which will hire more people to audit taxpayers as a way to collect more money from them. The Act's goal is to reduce inflation by taxing more people and spending less money.
ChapterThe Impact of Government Spending on Taxes and Investments
Episode5 Ways To Build Wealth [MASTERCLASS] EP 1363
PodcastThe School of Greatness
The Inflation Reduction Act aims to inject more money into the government and the Federal Reserve to collect more tax and past tax dollars.
34:50 - 37:24 (02:33)
Summary
The Inflation Reduction Act aims to inject more money into the government and the Federal Reserve to collect more tax and past tax dollars. One of their plans is to invest heavily in the IRS to increase the number of agents for auditing and collecting unpaid taxes.