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Chapter Three

Final Questions FAQ Won’t the government plug this loophole? Short Answer Anything is possible, but I doubt it. Explanation I stated earlier that after 1971, money became debt. For the economy to grow, the economy needs debtors. This is why the government’s taxes punish savers and incentivize debtors, especially debtors who can take on large amounts of debt. If the government took away this debt loophole, the economy would seize up immediately, chaos would break out, and the crowd would roast the politicians. If the government does close this loophole, they will open others for their friends, friends with money who finance their campaigns. FAQ Isn’t it cruel for people who do not know how to use debt? Short Answer Very cruel. I laugh and I cry every time I see someone win the lottery or a young sports athlete receive a $50 million contract to play professional sports. What is the first thing these people do? They rush out to buy a big house and nice cars, not only for themselves, but also for their family and friends. Rather than use their money to get richer, they use their money to fall deeply into debt, debt for liabilities. It is not long before their money is transferred back to the government and the rich. In the end, the foolish person is only left with debt.

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Profile for Jamiel Cotman

Unfair advantage ebook  

by Rich Dad, Robert Kiyosaki

Unfair advantage ebook  

by Rich Dad, Robert Kiyosaki

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