Financial Conditioning
Simon Karmarkar delves into inspiring stories and advice on achieving financial freedom. Get actionable tips, motivational stories, and insightful discussions that will empower you to take control of your financial future and get financially conditioned.
Tax Breaks for Parents, Education Credits, and Combating Government Grift
In this episode of Financial Conditioning, Simon Karmarkar begins with an overview of tax breaks available for parents, including student loan interest deductions and education credits. He explains the Earned Income Tax Credit and introduces the Government Grift segment. Simon shares his personal story and defines government grift, examining real-world examples and the incentives that perpetuate it. He offers strategies to combat government grift and wraps up with closing remarks and a preview of the next episode.
Key Points
- The Child Tax Credit can provide up to $2,000 per qualifying child under age 17, with a portion being refundable.
- The Lifetime Learning Credit offers up to $2,000 annually for qualified education expenses without a limit on the number of years it can be claimed.
- Government grift, including embezzlement and nepotism, erodes public trust and leads to inefficiency and increased inequality, necessitating greater transparency and accountability.
Chapters
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Transcript
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