Gilson Plan II:5 Steps To Slashing Your Taxes

“Coercive Taxes are the price we pay not for civilization, but for its infancy or lack…”–Michael Gilson-De Lemos, (MG) LIO curator, founder of modern world civic Libertarian movement, to Ronald Reagan

MG was not only a management but tax data consultant as part of his duties.Here are his suggestions that–while US-oriented, helpful in many countries– you consider in minimizing or abolishing your bloated taxes (and which will also help increase your assets). So read up, see a tax advisor for small business people to discuss how this may apply to you …and please add this as a link to your e-mails, site or e-group…

1. Help leaders get familiar, support the long-term Gilson Plan to focus on dialogue to abolish taxes:  slash inefficiencies and create autonomous endowments to handle programs voluntarily in your jurisdiction. Remember: In some countries as Kuwait they use a modest version of the approach to provide a sensible social welfare system that builds a middle class while charging no taxes.
2. Move to a low-tax state or jurisdiction. In the US several states have no income tax, and low sales or real estate ones. Alaska has no income taxes AND an endowment that pays citizens after the Gilson Plan, Many countries and up to a large an mount the US do not tax income abroad and will give a small business a tax holiday of several years. Assess your needs, realize that jobs quality and services are often not just the same but better according to many, and pack.
3. Don’t forget the impact of real estate taxes. They often only adjust the assessment if you complain. You may be shccked at what you’re paying in after looking at comparables. get a book on the subject, contest your rate, and keep it as low as possible.
4. Save in tax advantaged instruments: IRA’s, Variable Life Insurance, a home with a rentable apartment or room bought as a fixer upper deserve study, increase assets, and cut or defer taxes (one hopes until the Lis finally abolish them)  in different ways doable by average people. Look into programs such as the EIC developed by LIO Fellows and libertarians as Milton Friedman to which you may be entitled (Yes, it’s imperfect, see point 1). Look into approaches that balance investments in gold, etc using e.g.  the Browne portfolio approach as modified to your needs.
5. Use all deductions, start a  small ‘in my pocket’ business to offset income and rarely buy retail/’rack rate.’ Many activities that are tax drains become tax advantages that may wipe out your other taxable  income as a business in some years. For example, an antiquing hobby turned into a business (you must show a profit every few years) turns purchases into investements or losses. Don’t pay unnecessary taxes on sales and increase need for more income (and taxes) by failing to ask for a discount on even minor things…many have cut costs 30% or better. Or you may consider starting a personal non-profit for your vocation where contributions, if properly made, cut taxes (don’t try and get cute, be sure this is legitimate and properly done). In sum, if something you like anyway and do can be re-configured to cut taxes and costs–why not?

Many poor people use these ideas. They move back and forth between low-tax states, are very canny on comparable tax policy and benefits, fight for every dollar, and so get out of poverty. These need some study and the links are here to get you started–but are not rocket science.

Remember: Most or much tax money is mis-spent even on its own terms, and from a libertarian point of view the services would be cheaper or as in Alaska even pay you if done properly. People  who drone on about how you owe a debt to society and not be selfish often profit from the statutes that mandate their crazy vastly expensive monopolies. They fixate on a few high prices in the market todivert attention from their  unaccountable expenses ‘for the people.’  Public programs are services. Treat them as such the Libertarian way. You deserve the lowest price you can find.

Don’t overpay as far as the law allows…and work to change the law for the rest.