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[00:00.000 --> 00:02.080]  I'm Dave Champion.
[00:02.080 --> 00:13.800]  Let's talk capital gains taxes.
[00:13.800 --> 00:16.960]  Before I get rolling on this, I want to make a small apology.
[00:16.960 --> 00:20.840]  The last several videos I've done have been about taxation and then that I don't intend
[00:20.840 --> 00:24.160]  to do taxes, taxes, taxes, so I apologize for that.
[00:24.160 --> 00:28.000]  But sometimes I put up a video and then people ask questions and I think these videos are
[00:28.000 --> 00:32.120]  the best ways to respond to the question because I think if one person, two people, three people
[00:32.120 --> 00:35.600]  ask the question, there's probably a lot more that have the same question.
[00:35.600 --> 00:39.480]  So the purpose of these videos is to try and answer those questions.
[00:39.480 --> 00:44.400]  Now I put up a video the other day in which I talked about the truth of the income tax
[00:44.400 --> 00:49.080]  and in particular I talked about you can be on one playing field, which is you know the
[00:49.080 --> 00:53.440]  law and you know who Congress has imposed the taxes on and who they haven't, so you're
[00:53.440 --> 00:56.480]  going to be where you belong on the right playing field.
[00:56.480 --> 01:00.920]  And then the other group, which is probably 98.5% of the American public, who has no fucking
[01:00.920 --> 01:06.480]  clue about tax law and so they're on the playing field that doesn't legally actually apply
[01:06.480 --> 01:09.960]  to them and they're getting fucked every single year.
[01:09.960 --> 01:10.960]  So that was the premise.
[01:10.960 --> 01:18.880]  And a couple of people said to me, Dave, what about capital gains taxes?
[01:18.880 --> 01:20.160]  What are capital gains taxes?
[01:20.160 --> 01:23.920]  Well, if you make some form of investment, I'm not going to get into the various kinds,
[01:24.920 --> 01:31.000]  we'll say it's a $100,000 investment and that investment ripens and now it's worth $400,000.
[01:31.000 --> 01:38.720]  So you've got $300,000 in profit and if you're on the idiots playing field who doesn't bother
[01:38.720 --> 01:44.600]  to learn the law, then it's called capital gains and it is taxed at a different rate
[01:44.600 --> 01:49.160]  than other things and other forms of income.
[01:49.160 --> 01:53.280]  And then you have to file a tax return and declare it and so forth.
[01:53.320 --> 01:59.240]  So I want to compare and contrast the idiot playing field, the people who don't get informed
[01:59.240 --> 02:03.680]  and don't know what the fuck they're talking about, and the smart American playing field
[02:03.680 --> 02:06.520]  where they've actually read the law and know whether or not Congress has imposed a tax
[02:06.520 --> 02:07.520]  on them.
[02:07.520 --> 02:09.280]  Okay, so I'm going to use myself.
[02:09.280 --> 02:10.760]  I'm in the smart playing field, obviously.
[02:10.760 --> 02:11.760]  I wrote this.
[02:11.760 --> 02:13.400]  I know a little bit about tax law.
[02:13.400 --> 02:17.040]  I wrote the seminal bestselling book on the income tax that tells the truth about it in
[02:17.040 --> 02:18.040]  the country.
[02:18.120 --> 02:24.480]  So we'll use the same $100,000 invested and $400,000 coming out of the backside.
[02:24.480 --> 02:30.480]  Okay, so I invest $100,000 and it ripens and I'm ready to sell.
[02:30.480 --> 02:33.920]  There's predicate indexes which tell me this is the time to sell.
[02:33.920 --> 02:36.200]  So I say, okay, I'm going to sell at $400,000.
[02:36.200 --> 02:40.240]  So I've got $300,000 in profit.
[02:40.240 --> 02:45.560]  Now, because I know what the law says and I know I'm on the correct playing field as
[02:45.560 --> 02:54.000]  far as what the law says, that $300,000 for me is profit.
[02:54.000 --> 02:55.080]  That's it.
[02:55.080 --> 02:58.520]  It's my property.
[02:58.520 --> 03:04.080]  I invested $100,000 wisely it seems because now it's worth $400,000, right?
[03:04.080 --> 03:10.520]  And so there's $300,000 profit.
[03:10.520 --> 03:13.560]  That's it, right?
[03:13.600 --> 03:18.840]  You haven't heard me use the capital gains words because capital gains is a term that
[03:18.840 --> 03:24.880]  was created for the income tax code to apply to people upon whom Congress has imposed the
[03:24.880 --> 03:25.880]  income tax.
[03:25.880 --> 03:28.400]  So let's take a look at that group, okay?
[03:28.400 --> 03:33.600]  Now, I must say there are a tiny, tiny, tiny percentage of Americans that are actually
[03:33.600 --> 03:37.320]  legitimately in the group Congress has imposed the income tax on them.
[03:37.560 --> 03:44.360]  I'm going to guess we're probably talking not even 2% of the American public.
[03:44.360 --> 03:52.760]  So over here, we'll say a person who Congress has imposed the income tax on.
[03:52.760 --> 03:54.840]  They make a $100,000 investment.
[03:54.840 --> 03:55.840]  It ripens.
[03:55.840 --> 03:57.160]  It's worth the value is now $400,000.
[03:57.160 --> 03:59.600]  They decide to sell and profit take.
[03:59.600 --> 04:06.760]  And so they have $300,000 of capital gains, okay?
[04:06.760 --> 04:09.240]  Over here, Congress has imposed a tax on them.
[04:09.240 --> 04:14.840]  They have $300,000 in capital gains, which they must pay a percentage of income tax upon
[04:14.840 --> 04:16.920]  and declare it on their tax return.
[04:16.920 --> 04:23.000]  Over here, a person upon whom Congress has not imposed the income tax, they have $300,000
[04:23.000 --> 04:28.400]  of their personal property because they were smart enough to make a sound investment.
[04:28.400 --> 04:31.320]  There's no capital gains over here at all.
[04:31.320 --> 04:35.120]  Capital gains only exists over here because it's a term.
[04:35.120 --> 04:43.000]  A word of art is what they call it in law created in order to define a particular species
[04:43.000 --> 04:45.400]  of income that apply to this guy.
[04:45.400 --> 04:47.000]  Okay, fair enough.
[04:47.000 --> 04:48.000]  There's the distinction.
[04:48.000 --> 04:49.680]  Congress has not imposed the tax.
[04:49.680 --> 04:52.400]  My property, hey, IRS, fuck you.
[04:52.400 --> 04:53.400]  It's not capital gains.
[04:53.400 --> 04:54.520]  It's my personal property.
[04:54.520 --> 04:58.160]  Over here, somebody upon whom Congress has imposed the income tax, it is quite properly
[04:58.160 --> 05:03.760]  the same $300,000 from this profit from the same exact type of transaction is now capital
[05:03.760 --> 05:04.760]  gains.
[05:05.400 --> 05:09.160]  They have to report it on their tax return at the end of the year and they have to pay
[05:09.160 --> 05:10.160]  that tax.
[05:10.160 --> 05:12.960]  Legitimately, they have to.
[05:12.960 --> 05:14.800]  So where's the problem here?
[05:14.800 --> 05:23.960]  The problem is these guys over here, like 98% of the American public stupidly thinks
[05:23.960 --> 05:26.240]  they're this guy.
[05:26.240 --> 05:27.800]  Why?
[05:27.800 --> 05:30.840]  Because they're, I don't even know how to describe it.
[05:30.920 --> 05:37.640]  They simply will not fucking get educated.
[05:37.640 --> 05:47.680]  Can you imagine paying these taxes because you're too fucking stupid to read a book and
[05:47.680 --> 05:52.440]  figure it out and change how you're going about things so you don't tell the government
[05:52.440 --> 06:00.080]  falsely, hey, I'm this fucking guy, when in reality you're this guy?
[06:00.320 --> 06:02.720]  It's shocking.
[06:02.720 --> 06:08.640]  There was a time when I was highly motivated and I wanted everybody to know the truth.
[06:08.640 --> 06:12.020]  And I still do, but not like I did.
[06:12.020 --> 06:16.680]  Because at this point, here in a couple handful of weeks, I'm going to be 60 and I've been
[06:16.680 --> 06:17.680]  at this a long time.
[06:17.680 --> 06:27.520]  I've been at this more than a quarter of a century and kind of now it's like if you want
[06:27.960 --> 06:31.560]  to be a stupid fucking asshole, carry on.
[06:31.560 --> 06:37.980]  Now if you don't want to be that guy, if you want to figure it out, you buy a book.
[06:37.980 --> 06:39.920]  You read a book.
[06:39.920 --> 06:42.040]  The seminal book on the subject.
[06:42.040 --> 06:44.860]  It's like reading the book on any subject.
[06:44.860 --> 06:47.820]  The one that everybody looks at and says, that's the one.
[06:47.820 --> 06:50.640]  If you're Christian, it's the Bible.
[06:50.640 --> 06:52.720]  If you're Muslim, it's the Koran.
[06:52.720 --> 06:57.000]  When it comes to income tax, this is that book.
[06:57.480 --> 07:01.800]  Now, if you'd like to be one of the smart people in the country, instead of a fucking
[07:01.800 --> 07:07.440]  idiot, instead of sheeple, I'm going to tell you how you can get this book.
[07:07.440 --> 07:08.940]  I don't know what else to say.
[07:08.940 --> 07:09.940]  You can figure it out.
[07:09.940 --> 07:10.940]  You can learn.
[07:10.940 --> 07:12.440]  You can know the right.
[07:12.440 --> 07:13.440]  I want to tell you this.
[07:13.440 --> 07:16.080]  Of the thousands and thousands and thousands and thousands and thousands of copies of
[07:16.080 --> 07:21.480]  this book that have been sold, do you know how many people have read it and said, this
[07:21.480 --> 07:22.480]  is nonsense?
[07:22.960 --> 07:23.960]  Zero.
[07:23.960 --> 07:27.240]  This is zero over a decade.
[07:27.240 --> 07:28.440]  Do you get it?
[07:28.440 --> 07:35.440]  Every single person who reads it goes, unbelievable.
[07:35.440 --> 07:38.140]  Now some of them are in a position, for instance, a guy asked me the other day, what happens
[07:38.140 --> 07:40.000]  if you work for the federal government?
[07:40.000 --> 07:44.280]  Okay, look, you're not going to convince the people who are perpetrating the fraud to let
[07:44.280 --> 07:50.080]  you out of the fraud, but that's an entirely different thing that we're talking about.
[07:50.080 --> 07:53.760]  If you're an American citizen living or working in one of the 50 states in the private sector,
[07:53.760 --> 07:55.880]  you need to know this stuff, right?
[07:55.880 --> 07:58.360]  So I'm done preaching.
[07:58.360 --> 08:00.560]  You can be smart or you can be stupid.
[08:00.560 --> 08:01.560]  Totally up to you.
[08:01.560 --> 08:03.840]  I'm giving you the tools to be smart.
[08:03.840 --> 08:04.840]  We'll see what you do.