Get ready for the “Work From Home” Tax

Once upon a time, long long ago in a dreamworld far far away, banks actually used to be capitalists.

They were wealth creators. They wanted to do business with their customers. They facilitated important trade and commerce. They acted responsibly and conservatively with other people’s money.

Now it’s a totally different story.

Banks seem to routinely steal from their customers. They gamble our savings away on ridiculous investment fads, treat us like criminal suspects, bury us in an absurd bureaucracy, and then charge us fees for the privilege of working with them.

And to add insult to injury, many banks seem to have become full-blown Marxists.

I started noticing this last year when a number of bank CEOs, along with heads of other major corporations like Apple and General Motors, declared that they would no longer make business decisions prioritizing what’s in the best interest of their companies’ shareholders.

Just a reminder– shareholders OWN the company. The CEO works for the company.

And yet these CEOs, who essentially work for their shareholders, have unilaterally decided that shareholders are no longer the priority.

This is a common theme in politics as well, with Bernie Sanders, AOC, and Joe Biden calling for an end to “shareholder capitalism.”

Don’t get me wrong– being a responsible corporate citizen, treating customers well, taking good care of employees, etc. are all obvious things that are beneficial for any business long-term, and hence beneficial for the shareholders.

The key issue behind this movement, however, is the belief that shareholders shouldn’t be able to call the shots any longer.

They believe the government gets a say who should / should not be on a corporate board. And the public (i.e. the Twitter mob) gets a say what a company should / should not do.

Everyone else gets to tell you what you’re allowed to do with your own private property, i.e. your shares in the company. It’s no longer up to you.

This is decidedly anti-capitalist; it’s effectively public ownership of what’s supposed to be private property. Yet banks seem perfectly willing to go along with this new ethos.

And now they have another feather in their cap:

Just a few days ago, Germany’s Deutsche Bank (one of the largest banks in the world) released a paper proposing that people who have the ‘privilege’ of working from home should have to pay a 5% tax to subsidize people who can’t.

This is a ‘work from home’ or ‘remote worker’ tax. The report claims that this tax has been needed for years, but “Covid has just made it obvious.”

So, regardless of your circumstances– even if you want to go back to the office but aren’t able to because your company sent everyone home– Deutsche Bank thinks you should have to pay up.

The report is even borderline insulting to remote workers, saying that they’re “contributing less to the infrastructure of the economy whilst still receiving its benefits.”

So apparently all of us working from home are just lazy, good-for-nothing bums in the eyes of Deutsche Bank.

This ‘research report’ seems more like something out of Communist student newspaper, not one of the world’s biggest financial institutions.

If these people feel guilty that their remote work arrangements are unjust, there’s nothing preventing them from giving their entire paychecks away.

But for whatever reason they feel entitled to demand a pound of flesh from everyone else’s paycheck too.

Yet this is the world we live in now– where even the banks have become Marxists and every idiot feels empowered to propose public policy.

And it’s also why TAX PLANNING must absolutely be part of your Plan B… which may soon become your Plan A.

This is absolutely the case if you live anywhere in the West: your taxes are going up. It’s already been happening in many cases at the local level.

In the Land of the Free, we’ve seen income taxes, property taxes, sales taxes, etc. increase across the country.

The People’s Republic of California has even proposed a wealth tax, plus an exit tax for people who flee the state.

And that’s before considering the impact of tax increases at the national level.

The incoming presidential administration in the US has already pledged to raise taxes, including corporate profits tax, individual income tax, and capital gains tax.

It doesn’t matter that the evidence strongly opposes these decisions.

For example– over the past several decades, the US federal government’s tax revenue has consistently been about 16% to 18% of GDP, year in, year out.

In other words, the government’s ‘slice’ of the economic pie is 16-18%.

During that period, tax rates have been all over the board, from as low as 28% (for the highest individual rate) to more than 90%.

And yet the government’s slice of the pie has remained nearly constant.

The lesson here is pretty obvious: no matter how high, or low, tax rates go, the size of the slice relative to the rest of the pie remains the same.

So rather than try to make your slice bigger, why not focus your efforts (and tax policy) on what might create the biggest pie? Duh.

But hey, why bother looking at data and history before making a decision…

Another example is about capital gains tax rates; the historical data show that raising capital gains rates actually REDUCES tax revenue.

You’d think they’d take a look at the mountain of evidence first. But no. They want to increase capital gains to as high as 40%, and that’s just at the federal level.

It’s not going to be much different in many other countries, especially Europe. Governments have all their Covid programs to pay for, so they need the money.

And now it’s clear that even the banks are on board, pushing for higher taxes.

So, again, tax planning absolutely needs to be part of your Plan B. And fast.


from Sovereign Man

55% of White Woman Added to the Enemy List

Are you ready for this week’s absurdity? Here’s our Friday roll-up of the most ridiculous stories from around the world that are threats to your liberty, risks to your prosperity… and on occasion, inspiring poetic justice.

Inquisition Targets White Women for Their WrongThink

The magazine Teen Vogue (yes, I’m serious) recently published a nasty rebuke of people who voted for the current president. And they specifically called out white women:

“White women have to answer for backing the Republican nominee yet again.”

Bear in mind, Teen Vogue is a magazine that primarily caters to children. And what a fantastic lesson for young people! Let’s teach kids to hate other people who have ideological differences!

Teen Vogue, of course, is the same magazine that recently published an in-depth (no pun intended) anal sex guide for its teenage audience. And when parents complained, the publisher accused them of being ‘homophobes’.

Clearly Teen Vogue possesses both the journalistic professionalism and moral authority to preach ideological hate to young people.

Click here to read the full story.

Children’s Author Cancels Himself Over “Racially Insensitive” Illustration

A children’s author has asked people not to buy his first book, because of a racially insensitive illustration he was not aware of until the book went on sale.

The offensive image which the author said “made me sick,” was a Japanese girl dressed in a kimono, with her hair in a bun.

The Horror!!!!!

This illustration was a tiny part of a single page which showed the main character of the book, a little girl, imagining other cultures.

It’s like Where’s Waldo or I Spy for the woke mob– if you look really hard, try your best, and use your imagination, you can find something that will offend you.

Click here to read the full story.

Rhode Island drops “and Providence Plantations” from its official name

The official name of Rhode Island, from it’s settlement in 1636, through its founding as a state in 1790, and all the way up until last Tuesday, was “Rhode Island and Providence Plantations.”

But the word plantation has connotations of slavery, and therefore must be edited out of history– just like the statues of any historical figures who don’t conform to today’s woke standards.

So in a ballot initiative last week, Rhode Island voters approved chopping “and Providence Plantations” from the state’s official name.

That is very woke of them. But when Rhode Island was founded by Roger Williams, the term “plantation” was used as a synonym for “settlement.” It was a place where God planted his people.

And at the time, there was no slavery in Rhode Island. Williams was even friendly with the Native Americans, and objected to them being viewed as savages.

But let’s not allow history to get in the way of wokeness.

Click here to read the full story.

CBS Announces Racial Quotas for Reality TV Shows

CBS has announced that from now on, people of color will receive at least 50% of the slots on all of the channel’s reality TV shows, such as Survivor, Big Brother, and Love Island.

CBS can do whatever it wants, so good for them, that’s some great virtue signalling.

But will they also make sure to be representative of transgender Native Americans in wheelchairs?

What about Asian-American representation on the channel?

Or are Asians already considered people of color?

In fact, where exactly is the line for a person of color? Do Spaniards or Sicilians count?

Surely CBS will be consistent and unprejudiced in their determinations– maybe they’ll even administer racial purity tests before accepting applicants.

Click here to read the full story.

Is The Mandalorian problematically racist towards a fictional race of space people?

The Disney show The Mandalorian, is set in the fictional Star Wars universe.

One recent episode featured a classic Western plot, where the main character rides into an oppressed village, and helps the townspeople fight an existential threat.

But before they can defeat the giant sand dragon, the Mandalorian has to convince the townfolk to team up with their usual enemy, the Tusken sand people of Tatooine.

Clearly, according to one woke news article, the writers cast the Tuskens in the role Native Americans played in old Western films.

The Tuskens are portrayed as dangerous, barbarian outsiders. One of their deaths is even used as comic relief!

Therefore, Native Americans should be offended.

It took a little mental gymnastics, but we finally found something to be offended about. Now the woke mob can attack.

Click here to read the full story.

California Voters are Pro-Gig Economy

In January, a California law went into effect classifying most freelancers and independent contractors as employees who deserve all sorts of government mandated benefits.

The left-leaning media company Vox celebrated the win for workers, and then fired 200 of its California freelance writers so that they wouldn’t have to pay the benefits. Victory!

California realized it had gone overboard, and in September, the state exempted a bunch of gig-workers from the new law. However Uber and Lyft drivers, who the law was originally aimed at, were not given an exception.

But a ballot question in California asked voters if these and other delivery drivers should be allowed to work as contractors, free to set their own hours and schedule.

The answer was a landslide: “Yes”. So that’s a nice win for economic freedom.

Click here to read the full story.


from Sovereign Man

Guess which Big Tech executive just bought a second passport

The former CEO of Google, Eric Schmidt, will be one of the last people to receive citizenship in Cyprus through the country’s Citizenship by Investment program.

Schmidt’s name showed up on Cyprus’s list of approved applications in October, around the same time Cyprus announced it was suspending the program.

Remember- Cyprus essentially went bankrupt in 2013; it was so bad that the government had to freeze its entire banking system. They were desperate.

So the government started heavily marketing its new Citizenship by Investment program, which brought in about $8 billion in much needed revenue.

There are plenty of citizenship by investment programs around the world. But Cyprus had one of the most expensive programs in the world.

Until recently, for a little over $2 million invested in real estate or the local economy, plus a roughly $175,000 donation to the government,

Cyprus would hand you a passport, and congratulate you on your new citizenship.

Because Cyprus is part of the European Union, its passport opens a lot of doors– especially to Americans whose US passport has been unable to give them access to Europe since June.

That may be one reason why Eric Schmidt is probably pretty happy he got in before the door on Cyprus closed.

The only reason Cyprus suspended the program was under pressure from the European Union, which doesn’t like these citizenship programs.

The bureaucrats at the EU basically feel the same way as “news” outlets like Vox, which “reported” that citizenship by investment programs “have become the latest way for billionaires around the world to go ‘borderless’. . .”

In August CNN called this “the elite world of investment migration.”

These people act like citizenship by investment programs are just for shady oligarchs or careless billionaires looking to exploit tax or immigration loopholes.

That’s not true at all. A second citizenship is a smart move for anyone who wants to make sure one country doesn’t control all their travel and living options.

From lockdowns to riots to the specter of major tax increases, the events of 2020 have proven to everyone that it makes sense to have a Plan B.

And you actually don’t even have to be that rich– certainly not a billionaire– to be able to afford some of the world’s citizenship by investment programs.

But Cyprus shows that you should seize the opportunity while it is available. These programs are constantly changing. And political pressure, along with complimentary mainstream media propaganda, is one factor that could push countries to drop the programs.

Luckily, Cyprus is not the only country that offers citizenship by investment.

Malta and Bulgaria, both in the EU, also offer Citizenship by Investment programs… though they’re under the same pressure from EU bureaucrats.

Malta includes a residency requirement, and costs about $1 million. Bulgaria also costs over $1 million, and takes at least two years to receive citizenship.

But these programs become much cheaper in the Caribbean.

St. Kitts and Nevis, St. Lucia, Dominica, Antigua and Barbuda, and Grenada all offer citizenship by investment programs starting at a little over $100,000.

These passports aren’t as strong as an EU country’s passport, but they are solid B grade travel documents. It’s still a great insurance or Plan B to have in your back pocket.

The Caribbean programs are also always in flux– though lately they have been competing to lower their prices, desperate for investment since COVID has dried up their usual tourism revenue.

Citizenship by Investment is also not the only way to obtain a second passport.

Ancestry is another option. If you’re part of the ‘lucky bloodline’ club, you might have ancestors in a country that confers citizenship to descendants of its nationals, such as Italy, Ireland, or Poland.

Or you could naturalize in a country, and obtain citizenship by maintaining official residency for a set period of time. Permanent residency alone is a huge step in the right direction, already offering more freedom of travel, and at least one other country where you can live and work.

Marrying a foreign national, having a baby in, or even adopting a baby from places like Mexico or Brazil can also quality you for a second citizenship.

But again, the rules do change from time to time. And that’s why it makes sense to start executing, now, before the window of opportunity closes.

It’s helpful just having a foot in the door before things change; anyone who submitted their application to Cyprus before the program was suspended is still in the pipeline to be approved.

So if you are looking for more travel freedom, a solid backup plan, or a better tax situation, you will want to start as soon as possible.


from Sovereign Man

What happens if Puerto Rico became a state?

In late 2018, after more than seven fantastic years of living in Chile, I decided to move to Puerto Rico to take advantage of the island’s incredible tax incentives.

By moving to Puerto Rico, I traded my right to vote in US federal elections for a 4% tax rate. And I’m pretty confident I got the better end of that deal.

I’ve written about this quite extensively– but stick with me, because there’s a new twist to the story.

As we’ve covered before, Puerto Rico is a territory of the United States.

This means that the island falls under the jurisdiction of the US government for certain matters, like immigration and national defense.

But it operates independently in other matters– like taxes.

In fact, taxes is probably the most important one: Puerto Rico has its own tax system that’s completely independent from the United States.

So residents of Puerto Rico can disconnect entirely from the US tax system, as long as their income is generated from Puerto Rican sources.

This is a critical point: what constitutes Puerto Rican income?

According to the tax code, this includes dividends paid by a Puerto Rican business, as well as capital gains from certain investments like stocks and bonds.

So if you live in Puerto Rico and make most of your money from your Puerto Rican business, or you trade stocks, commodities, crypto, etc., then in most cases your income would be considered Puerto Rican in origin.

If that’s the case, you are generally no longer required to pay US federal taxes on that income. In fact you might not even have to file a federal tax return at all.

Instead, you would pay Puerto Rican taxes. And that’s where the incentives come in.

Several years ago the Puerto Rican government established a number of extraordinary tax incentives, specifically targeted at those two cases–

Traders, whose primary source of income is capital gains from their financial investments, literally pay ZERO tax.

And entrepreneurs with qualifying businesses are only required to pay a 4% corporate tax rate (plus a tiny municipal rate that’s just a fraction of a percent, depending on which city you live in.)

Plus, any dividends that your company pays to you are tax free as long as you live in Puerto Rico.

This is an enormous benefit.

If you live in the US mainland and operate an LLC, you’d pay, say, a 25% to 40% average tax rate on business income, not counting self-employment tax.

If you run your business through a corporation, you’d pay 21% corporate profits tax, plus an additional 15% to 20% dividend tax, plus the 3.8% Obamacare surtax, plus state and local tax.

In Puerto Rico it’s just 4%. Call it 4.5% to account for the local municipal tax. But that’s it. No extra dividend tax. No Obamacare surtax.

You put more than 95% of your earnings in your pocket.

This isn’t some obscure loophole or shady tax shelter. It’s the law.

Section 933 of the United States federal tax code specifically exempts US citizens from federal tax on their Puerto Rican sourced income, as long as they are bona fide Puerto Rico residents .

(Note that if you have US-sourced income, or income from foreign countries, that income would still be taxable by the IRS. Section 933 only excludes Puerto Rican income from US federal tax.)

And in Puerto Rico, the incentives are also codified by law.

In fact, once your tax incentive application is approved, you actually sign a contract with the government and are issued an individual tax decree.

So even if they change the law later, you’d still be grandfathered in under the old rules, and continue to enjoy your current tax benefits.

Now, here’s the twist: there are very, very few events that could trigger a problem with your tax incentives. But one of them just became more likely:

Puerto Rico is currently a US territory. But there’s been a movement for quite some time for Puerto Rico to become a state… similar to how there’s a statehood movement for Washington DC.

Just like DC, Puerto Rico tends to skew quite liberal politically. So the blue party in the US is very much in favor of Puerto Rico and DC becoming states.

(I hate breaking down the world into red and blue, but in this case, it’s relevant.)

It means they would likely pick up 2 more senate seats for each one, nearly guaranteeing the Democrats control of the United States Senate.

Several months ago, in fact, the House of Representatives passed a bill authorizing DC to become the 51st state. It was killed in the Senate.

But it shows the movement is real.

Last week, Puerto Ricans had their own election. And statehood was on the ballot.

The final tally showed that a majority of Puerto Ricans want to become a state. The Democratic party wants them to become a state.

And if that happens, the benefits would go away. Sure, your company would still be subject to a 4% tax rate in Puerto Rico. But then you’d have to pay US federal income tax on top of that.

So statehood pretty much kills the deal.

But does last week’s vote mean that Puerto Rico will become a state?

No, not necessarily.

Statehood would require approval by the US House of Representatives. Then the Senate would have to approve it.

And in order for that to happen, the Democrats would need to take control of the Senate AND agree to eliminate the filibuster.

Then the President would need to sign it into law.

So, it’s possible this could happen, but it’s not especially likely.

And even if it did happen, there would still be several years of a transition process.

So, bottom line, the tax incentives in Puerto Rico are still valid and extremely valuable.

And even if they only exist for another 3-5 years, they’re still definitely worth considering.


from Sovereign Man

It’s started already: “We have a list…”

On September 18 of the year 96 AD, a fairly obscure and elderly politician named Marcus Cocceius Nerva was proclaimed Emperor of Rome by the Senate.

Rome was in chaos at the time; the empire had suffered from years of turmoil, economic decline, and oppression.

Most of the last several emperors– going back before the suicide of Nero in 68 AD– had been extremely destructive… plundering the treasury, waging expensive wars, and dismantling individual liberty.

The government was also extremely unstable; it was not uncommon at that point for emperors to be deposed or even assassinated.

In fact, Nerva’s predecessor– the emperor Domitian– had literally been murdered that morning.

Nerva was seen by many Senators as the ‘safe choice’ to take over the government. He was old, frail, and sick… so he wasn’t expected to last very long.

Most of all, Nerva was completely unremarkable.

He had spent his entire professional life in the service of the Empire, yet his name is barely mentioned in any historical record or associated with any major achievement.

But ‘unremarkable’ was exactly what Romans felt like they needed at the time: Nerva would be a break from the chaos. Or so they thought.

We know now with the benefit of hindsight that Rome would never fully recover.

There would be a few ‘good’ emperors along the way– people like Marcus Aurelius who were able to temporarily hold back the decline.

But the long-term trends were unstoppable.

Rome was slowly going bankrupt, destroying its currency, and rejecting the basic principles of its civilization that made it so powerful and prosperous to begin with.

And no politician was able to put the brakes on those big trends and reverse the inevitable decline.

This is a common theme throughout history: empires rise and fall, not because of a single individual, but from decades of major trends that gradually cause an inevitable decline.

These same trends keep surfacing over and over again across the centuries.

Economic mismanagement is an obvious one: empires in decline almost invariably hold an arrogant belief that they are exempt from the natural laws of finance.

In other words, they believe they can spend as much as they want, accumulate infinite amounts of debt, and debase their currency without limit, and somehow there won’t be any consequences.

Another trend is that the empire abandons its core values. Integrity, civic-mindedness, and hard work give way to corruption and entitlement.

And perhaps the biggest trend of empires in decline is that society frequently turns on itself. Civility ends, and rage takes over.

It goes without saying that these trends are alive and well in the West today, especially in the Land of the Free.

US finances have been in disarray for decades. Just this year alone, the national debt has grown by $4 trillion and the Federal Reserve has conjured another $3 trillion out of thin air.

And even before Covid struck when the economy was firing on all cylinders, the government was still adding more than $1 trillion each year to the debt.

Now there are entire factions of politicians that want to take those numbers to the next level.

In fact, there’s an entire school of economics now called “Modern Monetary Theory” which poses that governments can simply print as much money as they want without consequence.

This is pretty classic empire arrogance.

But, again, the even more powerful trend now is the growing rage that’s so prevalent.

We’ve seen it unfold in front of our very eyes– violence, arson, assault, looting, vandalism, intimidation.

And if the this angry mob isn’t out in the streets causing mayhem, they’re on social media trying to destroy someone’s life who committed the thoughtcrime of intellectual dissent.

The election results last week proved that this angry mob is still a numerical minority.

Unfortunately they are a very powerful minority that has taken over a number of important institutions.

They already control the media. Objective journalism doesn’t exist anymore– it’s just activism and propaganda.

(And if anyone needs any proof, look no further than a prominent CNN ‘reporter’ weeping tears of joy over the weekend on live television. How can these people expect to be taken seriously as objective journalists??)

The mob has also taken over education too.

Schools and universities are now filled with enraged Marxists who spend dozens of hours each week indoctrinating our children with their new woke religion.

They’ve even reinvented science, history, and mathematics to conform to the principles of critical race theory.

The mob also exerts extreme influence over major corporations.

You can’t watch a Disney movie, or an NFL game, or even a commercial for men’s razors anymore, without having identity politics shoved down your throat.

They also hold extreme influence over Big Tech, whose one-sided censorship policies have become so absurd they’re starting to rival the Chinese Communist Party.

Over the weekend, for example, Twitter was ablaze with activists who launched an ‘accountability project’ to create a database archiving every supporter, donor, staffer, etc. who supported the current Presidential administration.

The project’s tagline is “Remember what they did,” and “We must never forget. . .”

And they’re targeting “those who elected him,” and “those who funded him,” referring, of course, to the President and the 70 million people who voted for him.

One reporter from the Washington Post deemed that everyone archived “should never serve in office, join a corporate board, find a faculty position, or be accepted into ‘polite’ society.”

She concluded her thinly-veiled threat by saying, “We have a list.”

Twitter, of course, did not see fit to censor this shining example of objective journalism, which now has 40,000 likes.

It’s a pretty blatant sign of decline when people start keeping ‘lists’ of political opponents they want to punish. And this madness is just getting started.


from Sovereign Man

Woman in labor wouldn’t go to hospital until she voted

Are you ready for this week’s absurdity? Here’s our Friday roll-up of the most ridiculous stories from around the world that are threats to your liberty, risks to your prosperity… and on occasion, inspiring poetic justice.

Woman in labor wouldn’t go to hospital until she voted

Last week when a woman went into labor, she had just one thing on her mind. It wasn’t the safety of her child, or even herself. Instead, her top priority was, “I need to vote!”

Concerned that she wouldn’t be able to vote after giving birth, she had her husband stop off at an early voting center on the way to the hospital.

She cast her ballot amid controlled intentional breathing to ease the pain of contractions.

The media acted like this was a cute, feel good story about the importance of voting.

In reality, it shows what you might call election derangement syndrome.

In what world is voting more important than receiving the most prompt medical attention to ensure you and your unborn baby are as healthy as possible?

Click here to read the full story.

Kentucky state police train to be “ruthless killers”

After a Kentucky State Police officer shot and killed a suspect, a lawyer filed an open records request.

Amid the documents was included a training presentation for new cadets of the Kentucky State Police.

The slideshow entitled “The Warrior’s Mindset” encouraged trainees to maintain “a mindset void of emotion” and become a “ruthless killer.”

The slideshow also quoted Adolf Hitler… three times. That made Hitler the most quoted man in the presentation.

One quote taken from Mein Kampf stated, “the very first essential for success is a perpetually constant and regular employment of violence.”

And one of the closing slides of the presentation states without explanation, “Über Alles.”

“Deutschland, Deutschland über alles,” means “Germany, Germany above everything,” and is part of a verse of the national anthem closely associated with the Nazis.

Click here to read the full story.

Scottish man arrested for calling politician a nazi

Because of COVID lockdowns in Scotland, a man named Brian Smith was not allowed to attend his uncle’s funeral.

In reaction, he sent a series of angry emails to the leader of the Scottish National Party, Nicola Sturgeon, who was responsible for the strict rules.

One of the profanity laced emails included images of Sturgeon depicted as a Nazi.

For that, Smith was charged with “telecommunications offences” which typically involve threats and abuse… even though there were no threats made.

Click here to read the full story.

Hate crimes and public order bill would ban free speech in scots’ own homes

Clearly it appears that free speech in Scotland is already dead, but the government is just getting started.

In August we talked about a Scottish Hate Crime Bill that would outlaw “stirring up hatred.”

The bill includes language that wouldn’t just make it illegal to use hate speech (in whatever way the government chooses to define this in its sole discretion).

It would also make it illegal to use hate speech in a theatrical performance, or to possess “inflammatory material” which could “stir up hatred”.

So basically the government could ban any book it wants, from “To Kill a Mockingbird” to the Bible.

But just a few days ago, Scottish Justice Secretary Humza Yousaf whined that the legislation doesn’t go far enough.

He testified that it should extend into the home and regulate what people say in private.

This could make it illegal to make crude jokes, teach your children about biological gender, or even indicate your personal preference for one religion over another.

Click here to read the full story.

AOC pushes bill to introduce government banks across the US

Everyone’s favorite Bolshevik member of Congress, Alexandria Ocasio-Cortez, has co-sponsored a bill called the Public Banking Act.

It would create federally-funded, government-owned banks across the nation, to hand out loans at low interest rates to the “unbanked and underbanked.”

But cities and states on the verge of insolvency could also take advantage of the easy taxpayer-funded loans provided by these banks.

Since many of these governments shot themselves in the foot with COVID-19 lockdowns, tax revenue is down.

This would allow them to continue irresponsible spending, and go further into debt to run basic operations, with little hope of ever paying the loans back.

Sounds like another enormous debt bubble of bad loans to people and businesses unable to pay them back, with no collateral.

What could possibly go wrong?

Click here to read the full story.


from Sovereign Man

Talk about a landslide

Well that wasn’t exactly the landslide we were promised.

Obviously there are a lot of unknowns right now. But regardless of who ends up being declared (or ruled) the winner, there are a few things you can count on:

The nation will remain divided. About 50% of the voting population will be even angrier than before. Conflict will likely escalate, along with peaceful protests.

Governments at various levels, including state and local, will continue to make take on dangerous quantities of debt and make financial decisions that are incredibly costly over the long-term.

Raging mob, whether in the streets or on Twitter, will continue to advocate taking what you have earned, and forcing you to abide by their absurd restrictions on thoughtcrime.

These issues weren’t literally on the ballot. But that doesn’t mean you can’t have a landslide victory all on your own.

As I wrote yesterday, every step you take in crafting a Plan B is a vote for yourself. And with enough votes for yourself, there is no way you can’t win, regardless of what happens in the world.

Plan B’s are different for everyone because we are all in unique situations, and we assess the threats to our livelihoods and families differently.

Do you live in an urban area, and need to escape riots and strict lockdowns?

Or are you looking to protect yourself against the rise of antifa and Socialism in your country?

Well, if you feel the pressure to find a backup plan for a place to live, you have lots of options.

This could range from moving to the countryside, or going across state borders, or leaving the country entirely.

For some, having a second home in the woods is sufficient protection. Others will want a second citizenship across an ocean.

And through each door, you will find other doors. For example– you can gain second citizenship in a number of ways, from ancestry, naturalization, investment, even marriage or adoption.

When it comes to economic fears, there is also a range of Plan B solutions.

Inflation is going to be much less destructive if you own gold and silver; it might even increase your wealth.

But even then, you have more options– if your home is in the path of peaceful protesters, you may want to consider storing precious metals at a private, secure facility overseas.

This also gives you yet more available choices, like borrowing against your precious metals using a peer-to-peer lending system which can give you liquidity when you need it.

And then there are countless other ways to store value outside of money– art, collectibles, even vintage firearms.

Some people may be concerned about feeding their family if supply chains slow down. We already saw a preview earlier this year as many food processors had to close down due to Covid.

(And the CEO of the largest pork producer in the US warned there may be meat shortages as a result of Covid.)

In this case, productive land where you can grow food might be attractive. Land can also be an excellent store of value, or an income generator.

Other people might be concerned about rising tax rates, especially at the state and local level.

But when it comes to lowering your taxes (or protecting yourself against higher taxes), yet again there are branching paths of opportunities.

Unwilling to uproot and move? You could still benefit from a solo 401(k). That structure also protects you against problems with Social Security, which now looks like its key trust funds will run out of money in 2029.

Do you have large capital gains? It’s not too late to take advantage of Opportunity Zones.

Ready to pack your bags and seek greener pastures? Consider Puerto Rico, where you can lower your tax bill to just 4%.

Or move to a foreign country and earn your first $107,600 tax-free through the Foreign Earned Income Exclusion. Double that amount if you are married, plus add tens of thousands of dollars more for housing benefits.

The possibilities are endless. And again, many of these tactics may just plans, i.e. you might not actually need to move… but have everything ready in case you ever pull the trigger.

The more of these Plan B items you check off your list, the more secure you will feel. And all you have to do is start. Just take the first step.

If you’re in line for citizenship through ancestry, make an appointment at the nearest consulate. That’s a vote for yourself.

Buy a few ounces of gold or silver, and there’s another vote. Begin your compost pile, plant a fruit tree, or start to learn a second language.

Each of those is a vote for yourself.

You may be shocked to find that the next election won’t worry you in the least because you’ve already achieved a landslide victory for yourself.

You’ve created a rock solid Plan B, taken your power back, and are prepared for whatever comes your way. All it takes is one vote at a time.


from Sovereign Man

Don’t forget to vote for yourself

The year 63 BC was an election year in ancient Rome, and an ambitious 37-year old was locked in a heated race for one of Rome’s most powerful offices: pontifex maximus.

The young politician, of course, was Julius Caesar. And he ran a cutthroat campaign against his opponents– two seasoned senators, both of whom Caesar publicly accused of corruption.

Caesar reputedly spent so much money on his campaign that, on election morning, he told his mother that he would either win, or he would have to leave Rome forever to flee his angry creditors.

The Romans didn’t invent elections; there’s evidence of voting that goes back nearly 1,000 years before Rome, to civilizations in ancient India and Mesopotamia.

And the Greeks, of course, developed the concept of democratic elections more than any other ancient culture.

(The Greeks even held ‘negative elections’ where they would vote on which former politicians should be banished for corruption and incompetence.)

But the Romans elevated elections to a full blown commercial enterprise. They were willing to spend big to win– a practice that continues to this day.

The Center for Responsive Politics recently estimated that the 2020 US Presidential election will cost a record $6.6 billion. That’s nearly THREE TIMES as much as the $2.3 billion spent in the 2016 campaign.

It’s not just the Presidency either. Even a ‘lowly’ Congressional seat costs big money these days, with a whopping $7.25 billion spent in the 2020 election. That’s double the amount from 10 years ago.

But the real cost of elections goes far beyond dollars and cents.

The biggest example is the emotional cost; I’m not sure many of us have ever witnessed such drama to the extent that has unfolded in this election.

The constant shouting and screaming, the media and celebrity shrieking, the Twitter rage… it never stops.

Countless people get behind their candidates as if their lives depend on it, with utter devotion and euphoria for their chosen one, and unmitigated hatred for the opposing side.

Things have become so crazy that couples even break up over politics.

A recent study by Wakefield Research found that 11% of couples in the United States have split up over political differences. And among Millennials, that number rises to 22%.

I find it remarkable that we allow extreme emotions for politicians (who we’ll most likely never meet) to cause a breakdown in relationships with some of the actual people who are in our daily lives.

These extreme emotions will be felt even more acutely today, and in the coming days (or weeks) as the results are announced.

Grown adults are going to break down and cry as if their dog just died. Others will hoot and cheer like they’ve just won the lottery.

And this happens every time. Every few years it’s the same cycle… the same drama. We’re told every single time that ‘this is the most important election of our lives.’

Naturally there’s an entire industry counting on us being emotional. The media sells more ads, the politicians get more votes. Billions of dollars at stake depend on us being in a total frenzy.

Look, I’m not being dismissive about elections. Obviously the people who come to power can and do have enormous influence on our lives.

They can wreck havoc and destruction, even when they’re well-meaning.

They can burden future generations with ever-increasing debts, debase the currency, regulate entrepreneurs out of business, embolden extremists, tax people’s prosperity away, and all sorts of other terrible things.

So, yes, to a degree, it’s always important.

But in the midst of all this drama is a central theme that’s almost always lost.

People tend to forget that WE have a much bigger impact on our own lives than any politicians or government.

Elections deceive us into pinning all the hopes and dreams for our future on some political candidate, like he or she is going to walk across the water and sprinkle prosperity everywhere.

But this is an absurd fantasy.

What we do matters far more– the plans we make, the actions we take, the things we do to improve our own lives.

This is like voting for yourself. And we have the opportunity to do this every single day.


from Sovereign Man

If you’re thinking about leaving…

Canada has been busy for weeks creating contingency plans for tomorrow’s US Presidential election.

A lot of Canadians seem worried that their country will be inundated by violent, plague-infested Americans fleeing the election results.

That’s probably a bit of a stretch. But this does seem to be a recurring theme.

Every four years there are always a bunch of people– usually very out of touch celebrities– who threaten to leave the US if their candidate doesn’t win.

And Canada is a perennial favorite destination among these famous American would-be political refugees.

I never really quite understood this; sure, Canada’s great. But the world is a big place. And, especially now, with so many people no longer constrained by geography due to Covid, it makes sense to expand one’s escape plan beyond just a single country.

Consider Mexico, for example.

Mexico is the country that the US federal government has tried so hard to block for immigration purposes. Yet in an ironic twist of fate, Mexico is one of the only countries still welcoming to Americans.

Right now US citizens have limited options for international travel. But Mexico is still open, including to Americans.

You can enter Mexico without a visa, and stay for up to 180 days, no questions asked.

One of our Sovereign Man team members did this recently, enjoying a great deal of freedom on Mexico’s Gulf coast, as well as a fantastic lifestyle at minimal cost.

He told us recently that he went to a barber and paid just $4 for haircut (including a generous tip), then treated his family to a delicious lunch at a great restaurant for less than what McDonalds would have cost in the US.

Safety was not a concern; this region of Mexico is about as ‘dangerous’ as Wyoming in terms of crime incidents.

So, Mexico presents an opportunity to spend 6 months on the beach, avoid strict lockdowns, distance yourself from politics and riots, and save a ton of money.

Probably the only other places that rival Mexico’s low cost of living in the Western Hemisphere are Colombia, Argentina, and Ecuador.

(Panama and Costa Rica, for example, are also great expat destinations, but both have become costlier in recent years.)

Sure, you could easily pay New York prices for dinner at a world-class restaurant in Mexico City, or even in Cancun.

But if you are willing to venture beyond the typical tourist traps, you’ll be pleasantly surprised.

Playa Del Carmen is touristy, and therefore not very cheap by Mexican standards. And still, a family of four could live comfortably on $3,000 a month, rent included.

Temporary residency in Mexico is easy to acquire for anyone who can prove they have sufficient savings or income– you’ll need at least $1,700 per month after taxes, plus $700 for each dependent.

After four years of temporary residency, you can upgrade to permanent residency. That is a great asset that gives you another option to live and work (or escape) outside of your home country.

Retirees have a shortcut to permanent residency in Mexico, as long as you can prove you are officially retired and have a pension or Social Security income of at least $2,800 per month.

After five years of legal residency, you can apply for naturalization, which means becoming a Mexican citizen, and obtaining a Mexican passport.

And most of these options can be started now from your nearest consulate, before you even set foot on Mexican soil.

Although it is rare, there are other countries that offer easy residency, various paths to citizenship, and a low cost of living.

But Mexico remains one of the very few places on earth open to travelers from the United States and Europe; there are still plenty of nonstop flights between Mexico and cities like Houston, Paris, Miami, New York, Madrid, Los Angeles, Amsterdam, etc.

So you’re thinking about leaving… whether due to strict lockdowns, peaceful protests, inevitably higher taxes, or simply to retire in peace, Mexico might be worth considering.


from Sovereign Man

California threatens to arrest 12 year old for missing three Zoom classes

Are you ready for this week’s absurdity? Here’s our Friday roll-up of the most ridiculous stories from around the world that are threats to your liberty, risks to your prosperity… and on occasion, inspiring poetic justice.

School Threatens to Arrest 12 Year Old Over Three Missed Zoom Classes

A California school sent a letter threatening to arrest and prosecute a 12 year old boy who missed 90 minutes of online virtual classes.

The letter says the middle-schooler is considered truant if he misses more than a half hour of any given class.

When the boy’s father complained about the threat to his son (who happens to be an excellent student and makes straight A’s), the school principal said his hands were tied.

California’s laws regarding truancy force schools to send the warning letter, and funnel kids into the state’s prison pipeline.

Click here to read the full story.

Mother Faces Prison for Keeping Kids Home From School

A mother of two in the UK has a great reason to keep her kids home from school.

She is especially at risk of complications if she contracts COVID-19 due to diabetes, asthma, and an underactive thyroid. According to these conditions, the UK’s socialized health system, the NHS, classifies her as clinically vulnerable.

But that doesn’t matter to the local education welfare officer, who sent a letter to the mom demanding her children return to school, or she will face up to three months in prison and a £2,500 fine.

So first the government forces everyone to close their businesses and stay home. Now they want to force a vulnerable person into contact with others.

Isn’t it fun having the government control your life?

Click here to read the full story.

UK Allows Migrant Posing as Child into School

When an asylum-seeker arrives in the United Kingdom without a passport or birth certificate, the policy is to give him the benefit of the doubt.

That’s how a balding man from Gambia who looks about 40 years old ended up in a UK high school.

The man claims to be 15 years old, which qualifies him for extra government support as an unaccompanied minor. Naturally, he is not required to prove his claim of being 15. The government merely accepts his word, even though he clearly looks MUCH older.

When one schoolgirl shared pictures of the man on social media, questioning his age, the school called her a bully.

Click here to read the full story.

Tampax Competes for Wokest Corporation

If you thought Tampax was a women’s hygiene product brand, you were wrong.

The company recently sent a Tweet that read:

“Fact: Not all women have periods. Also a fact: Not all people with periods are women. Let’s celebrate the diversity of all people who bleed!”

Now it’s somehow controversial to say that one set of sexual organs requires Tampax’s products, and the other does not.

In order to be more inclusive, we have to deny basic scientific facts of life, like the biological differences between males and females.

Of course, like J.K. Rowling, you will get in trouble these days for thinking like that.

The Harry Potter author was recently “canceled” for Tweeting, “‘People who menstruate.’ I’m sure there used to be a word for those people. Someone help me out. Wumben? Wimpund? Woomud?”

Click here to see the Twitter thread.

The Only Cop Arrested Was The Whistleblower

Six months ago, a man died after two police officers arrested him in a drug sting.

The Police Department in the city of Joliet, Illinois (about 30 miles from Chicago) refused to release video footage from the patrol car that night showing how the man died.

But another officer was so disgusted by his colleagues’ misconduct that he leaked the video to the public.

The video shows the officers swearing at the detainee, slapping him, shoving a police baton down his throat, and holding his nose shut to try to make him spit something out, presumably drugs.

The suspect died a short time later.

But the only arrest that resulted from this incident was the whistleblower– the third officer who leaked the video footage.

He’s now charged with official misconduct for unauthorized access to the video evidence and faces five years in prison.

Click here to read the full story.


from Sovereign Man