Dave Ramsey: Stupid taxes to avoid
Feb 21, 2012, 2:34 PM | Updated: 2:52 pm
Debt-free living expert Dave Ramsey, host of ‘The Dave Ramsey Show’ on 770 ‘The Truth’, says there are six truly ‘stupid taxes’ that you’re paying, but don’t have to.
In fact, he says you can (and should) avoid them at all costs.
“Most of us agree that we have too many taxes, but we’ve come to accept that they’re just a fact of life,” says Ramsey. “The good news is there’s one tax you can keep from paying: the stupid tax.”
One of the most stupid taxes you’re paying is associated with your state lottery.
“If you routinely play the lottery, you should do this instead: Hop in your car, open your windows, and drive down the interstate,” suggests Ramsey. “As you drive, flick one-dollar bills out into the roaring wind. That will have the same effect as playing the lottery.”
Instead, Ramsey recommends you skip the lottery altogether and put the money you would have wasted on a scratcher or quick pick into a 401(k) or your kids’ college fund.
Ramsey is also a big proponent of forgoing a car lease (“Nothing says, ‘Please, sir, take my money. A bunch of it!’ quite like a car lease.”). He suggests, instead, that you save money to purchase a quality used car.
“The National Auto Dealers Association says car companies make more money off leasing you a car than if you bought a car with cash,” Ramsey proclaims. “Don’t fall victim to the ‘fleece.’
Ramsey isn’t done – he has four more ‘stupid taxes’ you should avoid, and they’re available on his website.
The Dave Ramsey Show airs weeknights from 10pm-1am on AM 770 ‘The Truth.’
