The truth is, he’s nothing like Robin Hood.
If Barrack Obama is elected president, you’ll definitely see the capital gains rate increase against the middle class. Couple that with your state rate on capital gains and you’ll really pay.
Every person who has a 401(k) will have a higher tax liability under Obama’s plan.
Retirees will be hit hard. People who sell real and intangible property will pay higher percentages of their gains in taxes.
“Major tax heights are inevitable no matter who takes office, but specific investments can lessen this effect,” says James Burns, author of The 3 Secret Pillars of Wealth: How to Crack Your Wealth Code Using the Tools of the Self-made Billionaires.
In order to secure your time, income and assets for the future, Mr. Burns proposes a three-pillar approach, as seen in his new book.
The three prongs outlined in The 3 Secret Pillars of Wealth are vital tactics any investor should know:
• Leverage, the first pillar, means borrowing money against an investment or asset that you either own now or will purchase (such as a home, artwork, etc.).
• Arbitrage, the second pillar, refers to finding investments, such as real estate or stock, that will offer greater returns along with the money you borrowed through leveraging. The classic example is when the bank takes your money and lends it for eighteen percent, and gives you five percent for the use.
• Cash flow, the third pillar, is the steady income generated from the investment that you secured through the leverage and arbitrage pillars—such as rent from tenants in an apartment complex that you bought.
“In simple terms,” says Mr. Burns, “you buy a house and then borrow money against it to deploy into another investment (leverage). The next step is taking the money gained from the first property and investing it in another house or tax-free asset that produces a return (arbitrage). The last pillar is the steady rental income or compounded return that comes from the asset (cash flow).”
An attorney and a former member of the United States Marine Corps Force Recon, James Burns has two degrees in law and one in taxation and international tax. He has over seventeen years of combined financial, real estate and legal experience.
“I’m not into this ‘get rich quick’ stuff,” he says. “I’m very positive about the future but I take a cautious approach when it comes to planning. The old way of relying on your company and the government to provide for you in retirement has vanished.”
For more information, contact the author directly at Jambur64@cox.net.
White Diamond Press and author James Burns chose Arbor Books, Inc. (www.ArborBooks.com)
(The 3 Secret Pillars of Wealth: How to Crack Your Wealth Code Using the Tools of the Self-made Billionaires by James Burns; ISBN: 0-9801620-0-
