the money trip
Summary
TLDRThe transcript discusses how money drives modern society through a continuous cycle of earning, spending, and taxation. It criticizes this money system as unfairly benefiting governments via excessive taxes. However, some level of tax is needed to fund public services. The speaker urges people to reduce spending, earn more income, save and invest to build wealth. He then outlines a simple, proven plan for starting a profitable online business in spare time that requires little upfront investment. This can provide passive income and financial freedom. Overall, the talk aims to reveal eye-opening truths about money while providing practical tips for taking control of one's financial destiny.
Takeaways
- 😀 Money is essential for survival, even for homeless people
- 😕 Money keeps moving in a vicious circle, with people and businesses continually paying taxes on it
- 🤑 Governments continuously tax money as it moves to generate revenue
- 😠 High tax rates (up to 40%) are seen as excessive
- 💡 Reducing spending is one way to lower tax liability
- 💰 Earning, saving and investing more money should be a priority
- 📈 Compound interest works for you when you invest over long periods
- 😃 Side hustles and small online businesses are great options to earn extra income
- 😥 Overwhelm prevents people from starting an online business
- 📘 A simple, proven business plan makes online business success achievable gradually through consistent effort
Q & A
What is the main topic the speaker talks about?
-The main topic is money - how it works in society, the constant need for it, and how governments tax money as it circulates.
What does the speaker say about local TV news stations and weather reports?
-He says they deliberately drag out the weather report over 30 minutes to 1 hour in order to keep viewers watching for longer, allowing them to make more advertising money.
How does the speaker illustrate the constant circulation and taxation of money?
-He gives an example of tracking a single $1 bill as it gets passed from person to person, each time getting taxed along the way - income tax, sales tax, business taxes, etc. The governments are always collecting taxes each time money moves.
What percentage of income does the speaker view as reasonable for tax collection by government?
-He says 10-20% tax rates are reasonable, but taking 40% or more of someone's income in taxes has become obscene.
What does the speaker suggest people do about the high tax rates?
-He suggests reducing spending to lower tax bills, as well as finding legal ways to earn more money, save more, and invest more to take advantage of compound interest over time.
What opportunities does the speaker say are now available for starting a small online business?
-He talks about how easy and affordable it is today to reach a global audience online via social media and websites. The barriers to entry are much lower compared to 50 years ago.
What does the speaker say prevents many people from starting their own online business?
-He says the overwhelm factor stops people - not having a solid plan to follow that has worked for others. Also, not being able to invest huge amounts per month in advertising.
What timeframe does the speaker recommend to allow a spare time online business to become profitable?
-He emphasizes not rushing things. He recommends sticking with it long-term, "keeping peddling the bike forward" through ups and downs, treating it like a marathon rather than a sprint.
What resource does the speaker recommend for a step-by-step business plan?
-He recommends getting a simple book (with accompanying video) that reveals a proven spare time business plan that has worked for many other people looking to build an online business.
Why does the speaker encourage having fun with the online business journey?
-He says if the process isn't fun, there's no reason to do it. The key is to enjoy the journey while working toward eventual business success.
Outlines
😕 Never-ending cycle of money and taxes
Paragraph 1 discusses the endless flow of money through society and how everything requires payment. It highlights how news media stretches out weather reports to keep viewers engaged for more ad revenue. The paragraph also examines how money circulates and is repeatedly taxed.
😠 Governments take too much tax money
Paragraph 2 continues on taxes, arguing that while some taxes are necessary, governments take too much, with total tax burdens reaching 40% in some cases. It urges people to reduce spending to lower taxes paid. The paragraph then suggests ways to earn more money through side hustles and starting a small online business.
😃 Simple business plan to earn extra income
Paragraph 3 talks about a simple spare time business plan that can generate passive income with just 2 hours of daily work. It mentions that the first website may not succeed but teaches valuable lessons. The paragraph encourages checking out an accompanying free video and ebook for this business model.
Mindmap
Keywords
💡money
💡taxes
💡business
💡income
💡expenses
💡investment
💡profit
💡savings
💡inflation
💡interest
Highlights
Money is involved in everything, even just going for a walk.
The news media drags out the weather forecast to keep viewers watching longer and make more money from ads.
Taxes are continuously collected as money circulates through the economy.
Governments create more rules to generate more tax revenue.
It's easy to start an online business today compared to the past.
You can reach the world for free using social media and video.
It's important to have a proven business plan, not just any plan.
This book reveals a simple spare time business plan that has worked for others.
It takes consistent work over time, not just a few weeks, to build a profitable online business.
Ups and downs will happen, treat it like a marathon not a sprint.
Work on your online business in your spare time without anyone knowing.
Your first website might not make money, but will teach valuable lessons.
Have fun and enjoy the journey to online business success.
If you have $10 you can learn this simple spare time business plan.
Check out the free video to see if this plan is right for you.
Transcripts
hey this is Mike Johnson coming at you
from rainy Seattle on a Monday morning
today I want to talk to you about
money the money trip do you ever stop to
think about how money works the money
trip what is really going on in the
world just to survive you need money
everyone needs money to provide basics
even a homeless person requires cash
cash to eat clean up wear clothes
survive and even sleep somebody's got to
be awake and on guard Duty and they
don't do that for free everything has a
minimum cost even if a kind soul was
giving away food you have to be able to
travel to get it you have to smell nice
enough to get inside and you need
someone else to guard your stuff while
you are away Society runs on a payment
system everyone wants to get paid even
the food bank they get donations without
them they'd have to shut
down but money is kind of running in a
vicious circle it never stops moving
from hand to hand think about it why
does the nightly local news deliver the
weather report in tiny
tidbits teasing you with what you really
want to know the old coming up shortly
trick they drip the weather on you but
keep the thing you want to know for very
last it's all about money the longer you
watch the more eyeballs they get to hang
on for another half hour the more money
they make and add Revenue it's a
game if they really wanted to help
people they could give you the whole
story in one shot they know exactly what
anyone watching the weather wants to
know what is the WEA WEA they're doing
tomorrow and they don't tell you that
until the very last
segment very
tricky that is a two-minute answer but
they drag it out for 30 minutes or an
hour every single night on every channel
now I could go on and on about money
money tricks money methods save money
make money give money get money money is
involved in everything you can't walk
Barefoot on a hike in a state park par
without paying for a parking or entry
fee you can't go for a walk down the
road without a variety of costs I mean
you need to buy clothes shoes water food
and more someone has to watch the
children you have to pay for your Fitbit
cell phone water bottle and a place to
live you need transportation and
utilities here's a way to look at money
that might make you angry take $1 any
dollar and think about how many people
touch that dollar you get your paycheck
it's in your hand you pay taxes on that
money you put that money in the bank the
bank has fees hidden and revealed the
bank borrows on that dollar you gave
them to hold now they lend that money
out to someone else who spends it on
something now we have sales tax on what
they buy the place where they purchase
now has some of that money they have
business taxes the business pays its
payroll and hands out paychecks those
people pay taxes on that income the
business buys inventory to restock the
supplier now does the same thing buys
more stock pays its employees more taxes
and fees paid by all that $1 dollar is
continuously being taxed over and O over
as it t
travels thousands of times the same
dollar is taxed every time a dollar
moves more taxes somebody is paying
taxes the winner in all this is the
governments they always win because they
write the laws talk about a no lose deal
create more rules to make more taxes
it's a vicious circle your employer pays
taxes you pay taxes spend money pay
taxes that business pays taxes put money
in the bank the bank pays taxes
employers pay payroll
taxes employees get
paid and there's taxes on every penny
you earn it's quite a racket the money
in taxes
Circle Society revolves around the money
now to run a country and keep it going
taxes are a necessity it costs money to
run and keep things running smooth some
taxes are required but you can take that
too far the longer things go on I for
one don't think the government any
government is enti deed to take 40% of
your hard-earned dollars in taxes that's
reached obscene levels they didn't earn
it 10 20% cool but
40% that's
ridiculous the criminals on the street
never took 40% of a person's income
every year right but governments reach
into your pocket every day every week
every year of your life a little tax
here another little fee here it adds up
to a fortune for someone and that
someone isn't
you people try not to think about it but
it's there it's
reality out of your personal control so
don't get discouraged I pointed out
because it's something to think about
the next time you buy anything here are
just a few examples income tax 20 to
33% FICA tax 8% sales tax on everything
you buy every dollar you spend 10% gas
tax cable TV tax hotel room tax license
fees tax permit fees phone tax mandatory
utilities property tax and business
taxes bottom line everyone wants your
money so they can pay their taxes and
try to get ahead of the game and you
want someone's money so you can do the
same it's a requirement a need a
necessity and a big want everyone wants
more just to keep close to
inflation oh inflation don't even get me
started on that
one now don't go crazy and stop paying
your taxes we have to work within the
system or go to jail reduce your
spending and lower your taxes is always
an option we don't need all that junk
anyway it just sits in the
garage next just do what you can to earn
more save more and invest more put
compound interest to work for you
instead of the bank the sooner the
better time earning interest is the
winning hand let your investment soak
for 20 to 30 years and it will work
harder than you ever have to you'll earn
money in your sleep so how can you earn
more in today's world lots of ways
luckily side hustles gig jobs second
jobs or start your own kitchen table
business anyone can can do that it's
remarkably easy today compared to any
time in the
past all good options that you could do
in your spare time turn off the TV and
you'll discover plenty of spare time
it's never been easier or as affordable
to start your own small business now
that everything has moved online you
don't need thousands of dollars to rent
a store buy and stock inventory or hire
a bunch of
employees you can reach the entire World
for free with social media and YouTube
you can talk to a person on the other
side of the planet in seconds for free
with
zoom a $20 a month website is plenty to
get started and it opens up an
opportunity that people 50 years ago
would have been thrilled to have it's
unimaginable a dream come true what
keeps people from actually doing it from
getting started
it's the overwhelm you need a plan not
just any plan but a proven plan a plan
that other people just like you have
used and profited from it's easy to see
the winners on
clickfunnels but you know most people
aren't
winners only a few
succeed most people can't afford even if
they had a brilliant product to spend
$10,000 a month on Facebook ads some of
those winners spend a 100,000 a month on
Facebook ads sure they make millions but
they spend Millions not all of this not
all of us have that kind of investment
available anyway I'd like to share with
you a simple Todo Sparetime business
plan it's the easiest way I found to
start and run an online business
part-time do you have two hours a day to
work on your business could you squeeze
that time out if you can then this is a
plan for you step by step one step at a
time follow this plan and you have a
great chance to see Evergreen passive
income in a very short
time it'll put you on the road there is
work and time involved money won't flood
your bank account in a matter of weeks
it's a business anyone with a computer
and some Drive can turn
profitable if you keep
working we keep expenses low we don't
rush it we keep keep pedling the bike
forward there will be ups and downs this
isn't a Sprint it's a marathon that you
can work on as you have
time no one needs to know you're doing
it you can do it in the back end behind
the
scenes and just keep plugging
along it's something for
yourself this simple book reveals a
solid plan that's worked before for a
lot of people check out the proof on the
page but first watch this free video to
see what it's all about maybe it's
perfect for you it was perfect for me I
used a similar plan to start not one but
five websites over the last 20 years
three of them were very successful two
didn't make it and that's going to
happen your first website might not make
you any money but it's taught you how to
start your next next one you'll learn
lessons that can make you money in the
future and now I'm using this plan
almost word for word to start my sixth
website in
2024 Watch the free video now and grab a
copy of this book while it's available
if you have $10 you can learn this plan
and be the boss for a change the key is
to have fun and enjoy the journey on the
road to online business business success
if it ain't fun why do it check out the
video for yourself and your family right
now it might surprise you link is in the
description
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