IRS SHUTDOWN! "Most People Have No Idea What Is Coming..." Federal Government Could WIPE US OUT!

Republicans are calling their national sales tax plan the fair tax act it imposes a 30 sales tax on everything that you buy groceries cars rent tuition Etc you know what else it does it shifts the taxes from the ultra wealthy to the middle class and the poor what the heck is fair about that I mean seriously how do they come up with these President Biden said that it will cause economic chaos which is probably what Maga Republicans want Senator John tester of Montana perhaps one of the most popular senators in recent history he says over his dead body yeah he really said that here check it out we do not want a sales tax in Montana and we do not want the federal government telling us oh no you have no say over this we're going to drive one down your throat because it'll increase costs it'll hurt business it'll really hurt Working Families across our state and uh and I'll tell you that's not the right thing to do and I think quite frankly it's a silly doggone idea and uh and like I said Over My Dead Body they will fight we'll fight every day until this thing goes down to defeat what do you guys think well actually I already asked some of you let me share what I got in my mail about this first I live in a state with no sales tax New Hampshire this would be hard to get used to I can see the 30 going up over time then in another one in North Carolina labor used to not be taxed like a mechanic or plumber since 2017 they passed a new law where labor is taxed they would literally tax us to breathe if they could do you guys feel the same way do you think the government would tax us for breathing if they could do that drop me a quick comment yes or no on that one and while you're doing that we're gonna get to the bottom of this whole sales tax issue for you this amidst a big slip in Americans wealth after the massive loss that we saw in the spring oh and stay tuned for the finale Amazon letting you get generic prescription meds for free together with your Amazon Prime membership have you guys heard about this one yeah let's see if it's actually worth it plus what some actual doctors have to say about it all in today's video also if you own a home make sure your home is protected no never be caught off guard but another very unexpected home repair again get your free home warranty quote the link is in the description down below now guys President Biden is having a field day with his recent Republican proposal to impose a 30 sales tax on everybody most of all low and middle class Americans even those on fixed incomes like Social Security and SNAP benefits now according to President Biden quote we're moving in the right direction now we've got to protect those gains that our policies have generated protect them from the Maga Republicans and the House of Representatives who are threatening to destroy this progress end quote he even outrights says quote here's the deal they want to cut your Social Security and Medicare beyond that they're actually threatening to have us default on the American debt end quote he called it the chaos they're suggesting White House spokesperson Andrew Bates argued in his own official statement that quote under the guise of fiscal responsibility Republicans want to cut the benefits that middle-class Americans pay for throughout their working lives but they also want to enlarge the deficit with new tax giveaways for the wealthiest Americans this is nothing more than an extreme plot to sell out middle-class families to Rich special interests at any cost end quote alright alright so let me break this down what's happening for everybody Kevin McCarthy had a hell of a time getting elected as house speaker and a list of all the concessions that he made to the most conservative members of his party would not fit in just one video but one of the more important was a concession to hold a vote about a radical tax reform proposal known as the fair tax so the fair tax at its heart is simple enough it would take almost every federal tax and replace them with a big old fat 30 percent sales tax on everything virtually every American will get a monthly check from the government to cover the cost of paying the tax on Essentials let me tell you this isn't the first time that I've heard about this math fact is probably not the first time you've heard about it now I have a couple of friends who are actually for a 10 flat tax for quite some time now but thirty percent that's just insane and that's exactly what liberal groups and other enthusiastic conservative tax Cutters are saying I mean here's what they're saying in the National Review quote any house Republican who backs this bill can accurately be accused for voting for raising the price of everything by a huge amount at a time when inflation is already high shifting more of the tax burden to the middle class instituting A large new wealth tax on senior citizens increasing federal spending by a massive amount increasing the deficit and creating large black markets end quote I can't put it simply enough though it's 30 on everything from groceries to health care to rent and home purchases to interest on your credit cards just a little Financial education tip for everybody if this passes everyone should own a business ASAP let me know if you guys want me to cover more business ideas maybe home business ideas online business ideas so that you can take full advantage of this drop me a quick comment down below now about the word regressive that you might be hearing a lot with this whole new tax proposal that means it is targeting low-income people and sidestepping the rich billionaires like Tesla's Elon Musk and Jeff Bezos Amazon the way it works is that rich people spend less of their income and they save more of it so as a share of income a sales tax it takes less from them than it does compared to how much it would actually take from Poor People's income low and middle income people spend more of their income a larger percentage of their income on goods and services rather than savings so a sales tax that targets these same goods and services is going to hit them hard now if this pushes through seriously this could wipe us out now some recent research disputes this in U.S context mostly because sales tax often exempt spending that makes up a bigger share of low-income people's budgets such as rent and groceries but hey there is that prebate that they're boasting about isn't that a good thing checks for everybody well take a look each household we get a monthly check worth 23 percent of the poverty threshold for a household their size so in 2023 that's about 279.45 a month for a single adult with an extra 98.52 cents per month for each additional person in the house so for a family of four this adds up to six thousand nine hundred dollars in no strings attached cash payments every single year and they're for everyone all 50 states or at least every citizen and most legal residents everyone with a social security number would be eligible it would instantly become one of the largest programs in the entire federal government now if you multiply the number of households in the United States by the rebate size for the average household of 2.6 people you get an annual cost of about 650 billion dollars that's around the size of our defense budget and about what Medicare costs before the c-19 crisis the fourteen hundred dollar checks or stimulus checks that the buy Administration sent out back in March 2021 that only costs 402 billion dollars sounds too good to be true well that is of course because it is because that prebate that they're bragging about also comes with strings attached now in this case getting rid of the personal and corporate income taxes is in the estate tax which are the three most Progressive taxes in the federal code so in other words these taxes are weighted to tax rich people more in fact most Americans on low or middle income the personal income tax already gives them money through Provisions like the earned income tax credit or even the child tax credit getting rid of it means all of those benefits go away now at the top end the rich go from paying a top rate of 40.8 percent of their wages as well as 23.8 percent on their income from Investments to just paying the 30 tax on everything that they buy but wealthy people save way more of their income than non-wealthy people do and everything that they save would be tax-free by one measure rich people in the 2010s they saved 8.5 percent of their income while the bottom ninety percent had a negative savings rate spending 2.8 percent more than they earn most probably the Congressional budget office and the Joint Committee of Taxation will report that it will increase the deficit by trillions of dollars every year and increase taxes on the middle class and I expect these findings to kill it in Congress most likely and here's hoping the fair tax is never happening at least not at the 30 percent rate just take a look at the recent data from the Federal Reserve it showed how Americans wealth continued to slide in the third quarter as stock prices in the stock market plunged over the summer now according to this the net worth of households and non-profit organizations dropped by 400 billion dollars in the third quarter the value of households stocks declined by 1.9 trillion dollars while their real estate holdings increased in value by 700 billion dollars now this comes after our Collective wealth plummeted more than six trillion dollars in the second quarter the third quarter was just brutal for stocks the S P 500 Index fell 5.3 percent During the period and it's pretty pretty much flopping ever since household debt grew by 6.3 percent in the third quarter at a seasonally adjusted annual rate slower than in the previous quarter Home Mortgage Debt increased 6.6 percent while non-mortgage Consumer Credit jump seven percent now another recent finding Americans are not happy about their financial situation about half said that it's worse than it was a year ago while around a third said that it's pretty much about the same Financial shape only 16 of the people who were questioned or surveyed said that they were better off now probably billionaires big Pharma entrepreneurs and investors kind of makes everyone want to be an entrepreneur and investor anyway over half said that they believe that the economy is continuing to worsen while 30 said that it has stabilized only 17 percent said that the economic conditions are getting better hit the like button if you guys agree with these poll results now in these tough times we have to check out every opportunity to save and maybe even earn some cash flow with a side hustle or two which brings us to our next story Amazon Prime adds prescription meds in their membership are you guys Amazon Prime members even if you're not check this out it's an Amazon Prime add-on called RX pass and this will allow Amazon Prime members to get as many drugs as you feed from a list of 50 generic medications to treat more than 80 common chronic conditions such as high blood pressure anxiety and diabetes Now the service costs five dollars a month per person and delivery is free Amazon also offers a prime Prescription Savings benefit which offers a discount of up to 80 on generic medications and up to 40 percent on name brand prescriptions rxpass doesn't offer insulin or specialty medications and is not available for people on Medicaid or Medicare they declined to say whether Amazon will expand the list of medications offered through RX pass in the future but they did say that approximately 150 million people are on at least one of the medications included in the initial RX pass list now I looked it up on Reddit just to see you know what people had to say about this but here are some from actual doctors in the medicine subreddit all right so first from 16 Masters you have to be a Prime member so it's not really five dollars a month it's about 11.50 per month plus the five dollars Prime memberships also drive people people to purchase more from them so in actuality the economics are more convoluted than five dollars per month these are also done via mail order in Mass fulfillment sites driving down the cost adding to that here's gerd 50501 it's likely about getting you into the prime ecosystem then you are more likely to buy off of Amazon get an Amazon credit card just save five percent on Amazon purchases and they get money off of that the Amazon credit card is a good deal actually for buying off of Amazon but but it does keep you in their ecosystem this comes with Prime video so maybe you'll rent Top Gun 2 off of them instead of Redbox I ain't gonna lie I don't know if you guys saw Top Gun 2 Maverick oh my God if you have not definitely check that video out that movie out I should say it was epic I think it's about getting you into their whole ecosystem it's a good deal altogether Amazon is basically the Borg next from the doctor up dog food truck okay so he's saying no inhalers so no interest for my patients at least Mark Cuban's Cost Plus is trying this is a poor substitute for that or good RX or anything else until they start hitting the generic versions of Advair maybe Spiriva and albuterol I won't even bring it up to my patients but maybe in a year or so it might build out to something worthwhile Cost Plus started slow too what I'm seeing here is potential to save money in your budget through some Amazon slash cost plus slash whatever prescription service you can find bargain hunting it's about those small optimizations that you can do hey maybe you could make a side hustle out of this offer the service to your friends who have prescriptions on their own nothing legal of course just some good old income streams for you and for your loved ones we could totally get into this more if you guys are interested just hit me up in the comments down below more exciting news coming up on my future updates guys please be sure to hit the Subscribe button and make sure your notification Bell is turned on so you don't miss out on the future action but for now hope you guys call all the prime information in today's money update and daily news report 30 sales tax Republicans are proposing why we don't want it anywhere near us and the new Amazon RX pass for your prescription meds I want to thank you guys so much for sticking with me guys thanks for always hitting the like button I really appreciate the love and the support I'll see you guys on our next one be safe