Independence Day, aka the Fourth of July, is a national holiday commemorating our Declaration of Independence from Great Britain. I often question how much American History is actually taught in our schools and wonder how many people really understand how much strife and hard work it took to gain independence and form a functioning government.
Whether or not you agree with our elected officials, the good news is
that the trajectory of their actions can eventually be changed at the
During the next election cycle, I suspect there will be much discussion
about the shrinking middle class. Without question, it has become more
difficult for middle class America, and the debate over how to fix the
issue will likely become quite heated.
There’s a lot of discussion about how much household demographics have
changed, but since our nation was established, the government has also
Today the government is involved in almost every aspect of our lives and it seems to have a program for everything.
The Affordable Care Act is a recent example. Health care information is
carefully monitored and actually reported on our annual income tax
Under the guidance of President Teddy Roosevelt, the National Park
Service was established and federal lands were set aside for all to
enjoy. Today, there are an abundance of federal laws and regulations
pertaining to the environment.
Under President Franklin Roosevelt, Social Security was established to
make certain the elderly could stay out of poverty and live out their
lives with dignity. The majority of us contribute into this program but,
somehow, instead of it being considered an earned benefit, it’s often
called an entitlement.
Over the years, Social Security has expanded to cover other items, such
as disability. I’ve already warned that, in the not- too-distant future,
the part of the program that covers disability won’t have enough money
to pay current benefits.
I’m certain some politicians that will call for the wealthy to pay more
to save the program, but I doubt any will mention that a recent study by
the agency’s inspector general pointed out that Social Security has
overpaid nearly $17 billion in benefits.
I could go on and on, but the point is that our nation was established
by rebels who became its Founding Fathers. A key issue that ignited the
Revolution was taxation without representation, the root cause of the
infamous Boston Tea Party.
As a financial adviser who works with a lot of hardworking people, I
have yet to hear anyone say that they pay too little in taxes.
In fact, over the years, I’ve seen many choose to retire in another
state because the tax rate is lower than Michigan’s. In other words, in
addition to the ballot box, you can also vote with your feet.
At the end of the day, we live in a great nation. Some think government
is the solution to problems and issues. Others believe it’s the problem.
No matter how you think, remember that we can only have these
discussions thanks to the efforts of our Founding Fathers.
We should all be thankful for our freedoms including the ability to work
towards financial freedom, and especially for those who gave their
lives to make it possible.