Going Galt. Without quitting your job, or moving to the forest.

Posted by $ Markus_Katabri 5 months, 1 week ago to Going Galt
1 comments | Share | Flag

Not MY list. Don’t shoot the messenger. Posted for informational/inspirational purposes only.

1) Take the maximum allowable exemptions on your W-4 form and delay the tax you are paying on the income. Keep the money set aside, so that when tax time comes, you will have the funds available (and avoid paying interest & penalties).

2) Grow as much of your own food as possible. Then, shop at farmer's markets & produce stands for as much of your food as you can. This keeps your money local and diverts funds from Big Ag, which then uses your money to lobby Congress for more of your tax dollars.

3) If feasible, change your heating & cooling system to a more efficient system that reduces the amount of utilities you need to purchase. If this is not feasible, then focus on energy savings via insulation, upgraded windows, caulking, solar shades, sail shades, shade trees, etc. Reducing your energy consumption will reduce the amount of utility taxes that you pay.

4) Use cash whenever possible. Using credit cards puts money into the hands of the big banks which they then use to lobby Congress for more of your tax dollars.

5) Buy as much as you can from locally owned businesses and again, use cash for every transaction. For example, buying a pizza from a locally owned shop instead of Pizza Hut keeps the money local, and diverts it from large corporations who (like others mentioned above) use your money to lobby Congress for more of your tax dollars. Plus, many shop owners will keep cash sales "off the books" reducing the amount that they pay in taxes.

6) Purchase as much as you can from the secondary market (craigslist, yard sales, flea markets, etc). You can find many new & gently used goods through these outlets and avoid paying sales tax on the items.

7) If you are able, move to a state that does not have income taxes: Alaska, Florida, Nevada, South Dakota, Texas or Washington. If this is not possible considering moving within your state to an area where property taxes are lower.

8) If possible, start a home based business and take the home office deduction. A small business can show a loss for 2-3 years without question.

9) Try natural remedies for common ailments to avoid spending money on pharmaceutical products. Source these from locally owned shops whenever possible.

10) Keep as little money in the bank as possible. Have as much cash on hand as possible, as well as physical gold and silver.

11) Change your banking, mortgage and any loans to a local credit union or locally owned bank to divert profits away from the big banks.

12) Keep diligent records for any charitable contributions you make throughout the year. You can deduct both cash and property that you donate to any qualified organization. If you can't sell it, don't throw it out, donate it instead and take the deduction.

13) Find people in your area that have work-at-home sales businesses and purchase gifts, cosmetics, etc through them to avoid shopping at major retailers.

14) Brew your own beer and make your own wine. Not only is it a fun hobby, but you will avoid paying liquor and sales taxes. If this is not for you, then purchase beer and wine that is made by smaller, independent companies to avoid putting your money in the hands of major corporations.

15) If you have a skill (which you may plan on making into a home based business), network with others for trades of services. Trading services is another way to avoid paying any sales tax.

16) Instead of buying a new vehicle, buy a pre-owned one. Many locally owned dealers have "like new" cars available for sale with very low mileage. Not only will you save money and pay less in sales tax, you will also prevent your money from going to the big automakers and unions.

17) Avoid buying products produced by union shops.

18) Consider giving up pay TV. The elimination of pay TV (particularly cable) will reduce a whole lot of taxes & user fees, and there are many ways you can still get plenty of viewing choices via "over the air" broadcast, internet streams, Netflix, etc.

19) Consider switching to a prepaid cell plan using a secondary carrier. This diverts money from the major carriers and reduces some of the taxes you pay.
SOURCE URL: http://www.ronpaulforums.com/showthread.php?423781-Going-Galt-Without-Quitting-Your-Job-or-Moving-to-the-Forest


Add Comment

FORMATTING HELP

All Comments Hide marked as read Mark all as read

  • Posted by Lucky 5 months, 1 week ago
    Point 3) Texas got caught- retail commercial premises designed to heat with reverse cycle air-con, inefficient at cold temp, so big demand for electricity which could not be met. Use natural gas heating instead. Carbon driven climate change, whatever, colder more likely than warmer.

    4) Protest whenever the use of cash is restricted. Use credit cards only just enough to keep them alive.

    Other:
    Bicycle. Sewing machine. Trees have many advantages.
    You are a free minded individualist capitalist, cooperation can be quite consistent with that.
    Reply | Mark as read | Best of... | Permalink  

FORMATTING HELP

  • Comment hidden. Undo