that they think increasing taxes will save the economy. Taxes kill economies, as bankers and politicians get richer.
Three things happen when banks print money: Taxes and inflation go up and people become poorer.
France
France, the second largest economy in Europe, is deeply in debt as growth slows. Rather than work harder, the French want more to have time off, work less, and take earlier retirements. As their productivity declines, so will France.
To solve the problem, France is raising taxes on the rich… just as the United States wants to do. When you tax the rich, the rich (and their money) leave the country.
China
China’s engine of growth is sputtering as unemployment and its military power rises.
Mexico
In Mexico, America’s neighbor, drug lords have more money, guns, and influence than the government. Obviously, this is not an ideal environment in which to raise children.
Give Your Child a Financial Headstart
If you want your child to have an unfair advantage in life, teach them about money and money’s impact on history. Teach them the real rules of money and taxes.
In an upcoming section of this book, you will learn the real life unfair advantages that a financial education can give your child—unfair advantages that even “A” students do not have.
Your Child’s Future
Repeating Edmond Burke’s warning:
“Those that cannot remember the past are condemned to repeat it.”
Personally, I would rather learn from the history of money… than be crushed by the future of money.
Since 1971, it’s been reported that the U.S. dollar has lost over 90 percent of its purchasing power. It’s not going to take another 40 years to lose the last 10 percent.
Consider this: If you teach your children to be capitalists, educate them about the unfair advantages that the B and I side of the quadrant offers for capitalists, and inform them of the real rules of money and taxes there is less of a chance the four gorillas will stomp on your child’s future.
Action Step for Parents
Use money problems as opportunities to learn.
My mom and dad did their best to protect the kids from their money problems.
The problem was all four of us kids knew we had problems. Rather than learn to face our money problems, we learned to hide from them.
When my rich dad had money problems or employee problems, he would use the real-life problem as an opportunity to learn. He would take the time to explain the problem and possible solutions to the problem.
Rich dad often said, “Problems can make you smarter. Problems can also make you poorer. It’s your choice.”
When money problems occur in your home, I suggest parents use this book or other resources to seek possible solutions to your personal financial problems. Then discuss the problem and possible solutions growing smarter and bigger than the problem.
A family can use money problems—and working through solutions—as a way to grow smarter together. Later in life, when your child is faced with money problems, this habit will help them see the problems as opportunities to grow smarter about money.
If your child is too young or not yet ready to handle the sometimes disturbing real-world money problems, take them grocery shopping and discuss how you budget your money to feed the family. That will be a real world education.
We all have money problems… even rich people. What makes us richer or poorer is how we handle our money problems. I’ve learned not to waste a good money problem because every time we solve one we get smarter in the process.
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