Did You Notice You're Working For Free?

28일 전

Hey Jessiee payers

They say death and taxes are two things you cannot avoid in this world, and to me, one of them seems unnecessary. The world's income tax rates range from between 7% and a whopping 60%. In my country of South Africa, you can pay anything between 18 - 45% tax on your income and we all accept this as part of being a citizen of a specific country. People begrudgingly pay it, others try to avoid it or limit their tax burden, but no one ever challenges it.

Many people beg the government for more, yes tax the rich! Everyone wants to tax the rich until they are rich, then they don't want to pay taxes, and you'll quickly find out the rich don't pay taxes. You pushing the rich to pay taxes is what drives them to put their money into real estate and other commodities and drive up asset prices more so you cannot afford your standard of living. But that's a story for another day.

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Image source: - reddit.com

How much of your time do you spend working for free?

If you're paying the least amount of tax you can at 7% you would have to work you would work for just shy of 4 weeks a year without getting any of your money. If you're paying the maximum of 60% income tax, you would spend 32 weeks or close to 8 months of your year working for free.

You are an employee of the government, and you work to pay their salaries and income. You don't notice it because they spread it out and take from you each month, but if you look at it rationally, you'll see how irrational this is when it comes to income tax.

By this calculation, how many weeks do you work for free? Please share it with me in the comments.

Image source: - libertyhangout.org

Crypto will allow more time off with less time working for free

It's because we spend so much time working for the government that we have less time for the things we want to do, spending time on recreational activities, friends, family, travelling and more. As we grow the crypto market, as people start to accept payments in crypto, earn salaries in crypto and instead of opting out into fiat we should be looking to move some of it into stable coins for general use.

Once we step out of the toxicity that is fiat currency, we will be able to realise what money can do for the average person. I truly believe in the power of people to allocate resources responsibly if given a chance and that people should be allowed to do as they please with the wealth they acquire.

If you could hold money that's not liable for income tax, sin tax, value-added tax, import tax and not being bogged down by inflation through central banks, who knows what kind buying power we could have from the fruits of our labour.

Let's connect

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I wonder at socialists who post here and/or buy STEEM. What do they think they're helping to build?

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I don’t think they truly grasp the implications of financial sovereignty! My problem with socialism is you still want government to have more control and more power! You want stuff changed but you want to outsource it to a system that doesn’t work

Lol while I don’t mind them contributing what we’re trying to build here, hopefully they’ll see the benefit of putting more money in the hands of people and letting them get on with their lives

I've already discussed this, I may pay an aggregate Income tax of 33-36%, but when you add all fees, Value added taxes, Consumption taxes, levies, Carbon taxes, Environmental fees, etc. It works out 52-55%

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That is absolutely insane so more than 6 months of your year you're working for the value you don't get to see or own. Is starving and being homeless the only real motivation to work these days?

I think the worst part is that people allow them to keep moving to goalposts, then its another tax, then its QE, then its cash bans, then before you know it we're stripped of all our freedoms and wondering how we got here

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And they wonder why the retail sector is dying, no spending cash left and non secured personal debt 120% of income. It's gonna be a bad Christmas.

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I still see black Friday ads going crazy and the festive decor going up in the stores, will be keen to see how consumer spending turns out this year.the greed and financial recklessness of people has no bounds it seems! I really wonder what will be the breaking point

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Unless the Gov't orders banks to reduce their consumer rates, debtors will continue to pile on their debts. When banks get caught in the liquidity trap they may be forced to increase interest rates to attract any liquid cash, the Repo market problem is what I think is a foreshadow of it.

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I haven't worked for a year now so no free work to the gov this last year for me👍

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Ain't that a great feeling. I actually see the kiwi's are moving to pay salaries in crypto. I think that's a cool option for companies. You could pay the maximum cash salary to an employee without tax and the rest in crypto, reducing their tax burden and effectively paying your staff more for their labour.

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I had a previous employer pay a portion of my wages into Bitcoin. Unfortunately I will have to get a job again if this crypto bear market continues on for much longer.

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That's very cool, now that Jaxx will be supporting stable coins I want to move some of my salary there and keep it. Hoping we can get crypto payment cards soon, it will make my life so much easier.

I think this market could hold up until we get closer to the BTC halving in May next year

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Yes crypto payment cards would be excellent I think.

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