Aug 29, 2023
Spencer and Kim discuss a provocative concept called the 100% death tax, proposed by self-made millionaire Alex Hormozi. The idea suggests that if entrepreneurs knew their entire wealth would be seized upon their death, they would be more inclined to invest their wealth, experiment with new ideas, and constantly innovate.
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Best-selling author Kim Butler and Spencer Shaw show you how to take more control of your finances. Tune in to The Prosperity Podcast to learn more about Prosperity Thinkers thinking and strategies today!
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Links and Resources from this Episode
- For resources and additional information of this episode go to https://prosperitythinkers.com/podcasts/
- https://gravystack.com/prosperity
- https://www.youtube.com/playlist?list=PLakZJR9Rc1WKnIv5svrxPHI3o8JugWYJf
Show Notes
- Introduction of Alex Hormozi, a self-funded, self-started entrepreneur who supports the idea of 100% death tax
- Explanation of Hormozi’s belief: Entrepreneurs would be more willing to spend their money if they knew it wasn't being left on the table
- Discussion on wealthy entrepreneurs such as Warren Buffett, Jeff Bezos, and Bill Gates who've shifted from entrepreneurial thinking to a more governmental control orientation
- Support for creating an environment where entrepreneurs keep experimenting via policies like 100% death tax
- How creating an environment where values, learning, and some amount of money get passed down is crucial
- How transformation in thinking can be more effective in wealth accumulation
- The power of life insurance to facilitate the transformation in dollars and thinking
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