If you’re still confused, as I was, about what exactly led to the failure of just about everything financial, here’s a video made by a Senior Editor at Marketplace, explaining what happened with a clever metaphor:
Smithee formerly lived primarily on credit cards and the good will of his friends. He is a newbie to personal finance but quickly learning from his past mistakes.
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LeanLifeCoach: In the end how much will the IRS really get; 10% maybe 20% of all this money? And how much will we spend collectively in actual dollars and... on Enforcing Tax Laws Works. Go Figure.
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wow..I read about this but this video makes it understandable….thanks for posting
Very clever way of explaining an otherwise very complicated process. Thanks!