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Going Galt top 100 (We'll build this over time, help us with your suggestions). 1. Buy the book Atlas Shrugged 2. Boycott movies (Hollywood is the big enabler) 3. Reduce a charitable donation 4. Go to a tea party 5. Don't tip for bad service 6. Patronize other businesses who are going Galt 7. Quit smoking. (hey, it's also good for you, and it sure starves the tax beast) 8. Kill the guilt. Stop giving to those who don't deserve it. 9. Spread the word, encourage others to stand against socialism. 10. Contribute money to pro capitalism candidates (money is the fuel) 11. Cancel your HBO and other movie services (again, enablers of the looters) 12. Brew your own beer and wine. (Suggested by Seth G) 13. Stop watching television. (suggested by ReginaB) 14. Find an anti-tax group, and suppor them generously. 15. Buy silver and Gold 16. Grow your own food (or some of it). 17. Stop using public transportation (Suggested by Bill S.) 18. Small business owners who can, shut down business 2 or 3 days per week. 19. Buy used things as much as possible. Craigslist is perfect for this. Buying used means that a factory doesn't produce a replacement for whatever you bought to restock the shelves, and factory production is one of the key metrics Obama needs to improve in order to show the country can pay for his spending. By buying used, you are helping to not hit the (unrealistic) growth rates that Obama's budget needs to hit in order to justify paying for all the socialist programs. You achieve a special bonus here if you buy from a person and they use the money to pay down debt. (Suggested by anonymous) 20. As much as possible, buy things (that don't need a warranty) from companies not making a profit (either non-for-profits like churches, or for-profit business not making a profit). This is because only profits are subject to government income tax (either personal tax rates for most small businesses or the 35% federal gov't tax rate for true corporations). If a profitable company makes a dollar off you the federal government takes 35 cents, but if a non-profitable company makes a dollar off you they don't pay any government income tax because they have bigger losses elsewhere. Although not a perfect approach, you can kind of tell what business are doing better than others by the number of people in the store and some other clues. NOTE: I am focused here on minimizing tax payments to the federal government - not the state government. Some states, like Texas, are 1) responsible with their budgets and constrain spending, and 2) refuse to penalize workers with a state income tax. I support these states and encourage anyone living in them to not try to avoid these states' sales taxes. Now, on the other hand, California.....which is a preview of where Obama would take the whole country...state taxes are part of the problem. People living in tax-hungry, massive deficit-loving socialistic preview states: the next section is for you. (Suggested by anonymous) 21. If you are hell bent on not contributing to ANY kind of government tax, then minimize the amount of money circulating in the economy. Only buy the bare minimum for groceries and paying utility bills. Every other dime should be used to pay down debt, invest in funds, or build savings. Keep money out of the open economy - because once it gets into the economy, it will eventually end up in a transaction which forces it to be taxed (like buying something from a store), and eventually it will be taxed again, and eventually again. Minimize the amount of subsequent times it will be taxed by keeping it out of circulation in the first place. Even buying something from someone on craigslist with cash ends up raising tax revenues since that cash will eventually buy something that forces a sales tax. Only when the cash gets taken to the bank to be deposited would the taxing cycle end. But when was the last time you saw someone make a cash deposit in a bank? Better to cut the cycle off at the start, and one's time to influence the cycle begins when their employer pays them. The benefit of this approach is twofold: 1) you Go Galt and 2) you build up your savings. If you don't think #2 is important, watch somebody try to get an expense approved on the Suze Orman show without any savings. Recently Obama asked Americans to "not put your money under a mattress," meaning he wants you to go and spend it. Saving your money and paying down debt accomplishes exactly the opposite of what he needs to pay for his socialist policies, at the same time building your nest egg. Double-win. (Suggested by anonymous) 22. Barter like mad. Many, and likely most, transactions involving bartering are of a low enough dollar amount that if not bartered the transaction would happen with cash changing hands, which as described above eventually gets taxed, normally many more times so. Bartering avoids this, maybe not for the piece that requires buying new parts and materials but definitely for the labor piece and for any goods already purchased. However, one is supposed to report the value of goods received from a bartering transaction to the IRS so it can be taxed. This is a double hit because they tax the value of what you receive but do not allow you to offset that against the value of what you gave. So if you traded a $1,000 car paint job for a $50 backrub, you lost money on that deal but still have to pay income tax for the backrub you received. I will not say it's okay to not report the transaction. But to paraphrase Chris Rock, if you wanted to keep it a secret...I'd understand. (Suggested by anonymous) 23. Send a copy of Atlas Shrugged to a politician. Those who are capable of reading may open it and learn a thing or two. See this go-galt idea here. 24. Don't use e-file. Mail your taxes the old way. No sense trying to make government more efficient in looting your money. 25. When you have to buy something, drive the extra distance if a surrounding county or state has lower taxes.
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Got a suggestion for going Galt? contact@howtogogalt.com 100 Quick things you can do to Go Galt |
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