President-elect Joe Biden has repeatedly said he will increase numerous taxes and eliminate the Trump tax cuts on “day one,” which would impose a $2,000 annual tax hike on a median-income family of four.
He has promised to as much as double the capital gains tax rates on your investments.
Biden/Harris have proposed canceling student loan debt and are being encouraged to do that by executive order as soon as possible. It would add hundreds of billions of dollars to our already-skyrocketing national debt.
In reality, there’s no such thing as “canceling” or “forgiving” student debt – they can call it anything they want, but it simply means sending the bill to the taxpayers.
Biden wants to raise the corporate tax rate by 33%.
Biden plans to nominate the Federal Reserve’s former chairwoman, Janet Yellen (no relation to me), to be his Secretary of the Treasury. Yellen has been on record as opposing the Trump personal and corporate income tax cuts, and she is in favor of imposing more taxes on energy (which will increase your gas and utility costs and the cost of all products shipped to you).
Higher Taxes are Virtually Inevitable… and You Must Take Action TODAY to Shield Yourself from Them
Here are 6 ways adding the Bank On Yourself strategy to your financial plan can help protect you from higher taxes and expenses:
- You can access both your principal and gains tax free under current law – in fact, the income you take isn’t even reported to the IRS.
- The income you take isn’t subject to capital gains taxes.
- Reduces the taxes you may have to pay on your Social Security income. It’s fairly common for even middle-income folks to owe taxes on up to 85% of your Social Security benefit. However, the income you take from Bank On Yourself is not included when the IRS determines whether (or how much) of your Social Security check is taxed.
- Can reduce your Medicare premiums. Did you know the income you take from conventional retirement plans – like 401(k)s and IRAs – can increase your Medicare premiums by as much as 350%? However, the income you take from Bank On Yourself won’t cause you to pay higher premiums.
- Since the Bank On Yourself safe wealth-building strategy relies on a high cash value, low-commission, dividend-paying whole life insurance policy, it comes with an increasing death benefit that passes to your loved ones income-tax free. (The death benefit of many of our family’s policies has already doubled or tripled or more.)
- Many Bank On Yourself-type policies allow you to access a significant portion of your policy’s death benefit during your lifetime to pay for chronic or terminal illnesses.
BONUS! Your Money in a Bank On Yourself Policy is Guaranteed to Grow by a Predictable Amount Every Year, and You Don’t Go Backwards When the Market Tanks
You’re bypassing Wall Street and banking institutions. You get access to your money whenever and for whatever you want – no questions asked!
But It’s Critically Important You Take Action TODAY
Find out how you can grow your nest egg safely and predictably every single year, shield yourself from taxes that can only go higher, and enjoy liquidity, flexibility and control of your money.
Request a free, no-obligation Analysis here now. You’ll get a referral to one of only 200 financial representatives in the U.S. and Canada who have met the rigorous requirements to qualify to use the title of Bank On Yourself Professional. They can answer any questions you may have and show you the bottom-line guaranteed results you could get by adding the Bank On Yourself strategy to your financial plan.
They can also show you ways to find the money to fund your strategy, strategies for rolling over a 401(k) or IRA without owing penalties, and more.
Don’t wait another day – click this button to get started: