Americans’ Wealth Is Under Attack

Shield

AN OXFORD CLUB PUBLICATION

Loyal reader since August 2025 

View in browser

SPONSORED

The Most Explosive Trump Story You Never Heard?

This former CIA counterterrorism officer believes that President Trump could launch one of the biggest tech initiatives in U.S. history…

And he believes this one initiative could give early investors a chance to make a fortune over the next decade.

Don’t miss out on what could go down as the single greatest wealth-building opportunity of your life. Click here now for details.

FINANCIAL LITERACY

Americans’ Wealth Is Under Attack

Dr. Mark Skousen, Macroeconomic Strategist, The Oxford Club

Let me tell you how it will be
There’s one for you, nineteen for me
‘Cause I’m the taxman
Should five percent appear too small
Be thankful I don’t take it all
‘Cause I’m the taxman
– The Beatles (“Taxman,” 1966)

Sixty years ago, the Beatles released the song “Taxman,” written by George Harrison to protest the punishing 90% to 95% supertax imposed on high earners by the U.K.’s Labour government.

Frustrated that most of their earnings were going to the Treasury, Harrison – aided by John Lennon – mocked tax laws and name-dropped politicians Harold Wilson and Edward Heath.

It’s one of my favorite Beatles songs. It highlights the remarkable creativity of governments everywhere to find sneaky new ways to exact more taxes out of their citizens’ pockets.

Now it’s happened in America, the land of the free, as we approach the 250th anniversary of our independence.

The Politics of Envy Is Back

Here are the latest examples of government’s attempts to reduce state deficits and fund new social programs:

  • New York’s socialist mayor, Zohran Mamdani, and Democratic governor, Kathy Hochul, have imposed a new annual real estate tax on luxury second homes (pieds-à-terre) in New York City that are valued at $5 million or more.
  • Washington state has imposed a 9.9% income tax on residents making $1 million or more and a 7% capital gains tax.
  • In November, voters in California will vote on a referendum imposing a one-time 5% wealth tax on billionaires. Most analysts expect it to pass, even though Democratic Gov. Gavin Newsom opposes it.

Art Laffer Takes on the Billionaire Tax Proposal

Last week, Art Laffer, the father of supply-side economics and creator of the Laffer curve, debated Berkeley professor Emmanuel Saez, a French economist who favors the billionaire tax in California.

Laffer rightly pointed out that the wealth tax is a bad idea because it’s forcing productive entrepreneurs like Elon Musk and Mark Zuckerberg and their employees to leave the state and it won’t raise the revenue legislators expect.

Indeed, Laffer was a longtime resident of California but left after the once-Golden State raised the state income tax to 14.4%, the highest of any state.

However, I was dumbfounded to see Laffer join forces with Saez in advocating taxing unrealized capital gains every year at a 17% rate! In essence, that’s the same as a wealth tax – and just as bad as the billionaire tax idea. It will also discourage the efficient use of capital, the lifeblood of the economy.

Lord Acton was right when he said, “There is no error so monstrous that it fails to find defenders among the ablest men” (The Maxims of Wall Street, Page 140, available at Skousen Books at Discount).

SPONSORED

I Met Elon Musk “Face-to-Face”

During a private gathering of Wall Street elites, I was one of two people selected to speak with Elon personally.

SpaceX just filed its IPO…

And I’m sharing an “access code” that lets anyone grab a pre-IPO stake before it happens. This is your invitation to the biggest wealth-building event of the decade.

Click Here to See how to Get Your “SpaceX Access Code”

Why Raising Taxes Backfires

The bad news is raising taxes on the rich is a failed policy for two reasons.

First, it does not address the real problem: wasteful and misguided spending.

New York, Washington, and California don’t have a tax problem – their taxes are already too high. They have a spending problem. They refuse to live within their budget on public education, Medicaid, homelessness, and other social projects that are only getting worse.

Then there are infrastructure boondoggles like the California High-Speed Rail project, with cost overruns of $135 billion and counting.

Ben Franklin identified the problem when he said, “No revenue is sufficient without economy” (Maxims, Page 20).

Raising more revenue to fund wasteful and inefficient projects only allows politicians to expand their budgets, which fuels more deficits until a financial crisis hits the state.

Second, wealthy taxpayers can escape the new tax increases by leaving the state.

The American Revolution started with a tax rebellion. Thomas Jefferson and the founders included taxes among their list of grievances of King George III in the Declaration of Independence: “He has erected a multitude of new offices, and sent hither swarms of officers to harass our people, and eat out of their substance.”

The wealthy are rebelling by moving out of the high-tax states such as New York and California and moving their residency and businesses to Texas, Florida, and other low-tax states.

According to Steve Moore, from 2012 to 2023, some $2.2 trillion in cumulative income migrated out of high-tax states and into low-tax states! (See the chart below.)View larger image

Action to Take: If you live in a state that is raising taxes, you can create your own tax cut by moving to a low-tax state like Texas, Florida, Tennessee, New Hampshire, Arizona, or Utah (among others). Make your plans now before it’s too late.

Going to Bat for Oxford Club Members!

I can’t think of anyone in the country who wants to see everyday investors get richer more than the strategists of The Oxford Club: Marc Lichtenfeld, Alex Green, and Mark Skousen.

You came to the right place to learn how to make money and keep the lion’s share of your profits through legal tax-cutting strategies.View larger image

Good investing, AEIOU,

Dr. Mark SkousenLeave a Comment

BUILD AND PROTECT YOUR WEALTH

Top Trader Reveals “One Ticker Payouts”: One Ticker… One Trade… Every Week!

Why Most Americans Don’t Understand Money

Don’t Miss: Trader Reveals New Strategy That Targets BIG Potential Profits With 1 Ticker Every Week.

Newsflash! AI Still Sucks at Trading

MORE FROM WEALTHY RETIREMENT

Americans’ Wealth Is Under Attack

“Sell in May and Go Away”? 3 Stocks to Avoid Right Now

The Hidden Story Behind JetBlue’s Stock

Is This the Market’s Best High-Yield Gold Play?

FacebookLinkedInEmail SharePush Alert

SPONSORED

America’s Economist: “I Believe I’ve Identified Trump’s Next Stock Buy”

When the Trump Administration Bought Trilogy Metals, It Jumped 388% in 8 Days.

America’s Economist Says the White House is Set to Invest in a New Stock. (He Personally Bought 10,000 Shares)

You are receiving this email because you subscribed to Wealthy Retirement.
Wealthy Retirement is published by The Oxford Club.

Questions? Check out our FAQs. Trying to reach us? Contact us here.
Please do not reply to this email as it goes to an unmonitored inbox.

Privacy Policy | Whitelist Wealthy Retirement | Unsubscribe

© 2026 The Oxford Club, LLC All Rights Reserved
The Oxford Club | 105 West Monument Street | Baltimore, MD 21201
North America: 866.237.0436 | International: +1.443.353.4540
Oxfordclub.com

Nothing published by The Oxford Club should be considered personalized investment advice. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed personalized investment advice. We allow the editors of our publications to recommend securities that they own themselves. However, our policy prohibits editors from exiting a personal trade while the recommendation to subscribers is open. In no circumstance may an editor sell a security before subscribers have a fair opportunity to exit. The length of time an editor must wait after subscribers have been advised to exit a play depends on the type of publication. All other employees and agents must wait 24 hours after publication before trading on a recommendation.

Any investments recommended by The Oxford Club should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company.

Protected by copyright laws of the United States and international treaties. The information found on this website may only be used pursuant to the membership or subscription agreement and any reproduction, copying or redistribution (electronic or otherwise, including on the world wide web), in whole or in part, is strictly prohibited without the express written permission of The Oxford Club, LLC, 105 West Monument Street, Baltimore, MD 21201.

REF: 000142349377

Unknown's avatar

Published by RJ Hamster

I was born on 6 August 1956 in San Francisco, California to Janet and (the late) Richard Hovis. I grew up in Santa Monica, California where I attended elementary, junior high school, and high school (graduating in 1974), in addition to involvement in sports and recreation (Little League +, the Boy’s Club ++). Further, it was in elementary school – St. Augustine’s By-the -Sea Parish School that I found, and made the choice to truly journey with God. I attended Arizona State University from 1974 to 1977 – seeking to become an architect, however, I was not accepted, and, as such, I graduated with a Liberal Arts degree. Upon graduation from Arizona State University, I attended Cal Poly San Luis Obispo and studied City and Regional Planning at the Master’s level. I successfully completed one (1) year in a two (2) year program – I did not complete the Master’s degree in City and Regional Planning – due to personal reasons. I returned to Santa Monica where I started (October 1979) my career as graphic designer with Exxon Company, USA. I spent five years with Exxon Company, USA. While working with Exxon Company, USA I was accepted into architectural school – Sci-Arc in Southern California, however, I did not attend preferring to stay with Exxon.. In 1982 I married Laura Flosi and in April 1983 we had our one and only child – Lauren Alain Hovis – a gift from God. We moved to Phoenix, Arizona in 1984 from Los Angeles, where I went to work as a graphic designer with Kitchell CEM (from 1985 -1987). From 1987 – 1995 I was an independent contractor, and a registered representative in mortgage finance, financial management, graphic design, and drafting. Further, I attended the University of Phoenix and successfully obtained a Master’s in Business Administration (MBA) in 1982. I was also a member of the Scottsdale Jaycees, where I became very involved in community events and projects. In 1994, I accepted a cartography position with the Defense Mapping Agency in Reston, Virginia. As such, I relocated from Phoenix to Reston. In 1998, I was accepted and worked as a Visual Information Officer with the Central Intelligence Agency. In 2002, I worked as a Support Officer until my retirement (due to a need for shoulder surgery) in September 2018. Away from my Federal Government service, I have been involved in various organizations and activities in Northern Virginia. In November of 2011, I married Rebecca Ouellette in Santa Monica, California. I reside in San Tan Valley, AZ with my two hamster - Jess and Timothy, our fish, our lizard - RJ Lizard., and our cats - Pearl and Grey. As to hobbies, I enjoy playing sports, attending sporting events, mentoring individuals from financial management to hamsters, building models, photography, travel, multimedia design, managing partner for RJ Hamster, and jazz – smooth jazz to a samba or a bossa nova. Love and God Bless, Peter – aka RJ Hamster Jo hi

Leave a Comment