Podcast Summary: The Ramsey Show Highlights – “This Is Dangerous, Liz”

Episode Information

• Title: This Is Dangerous, Liz
• Host: Ramsey Network (Featuring Dave Ramsey and Co-Hosts)
• Release Date: December 18, 2024

Overview In this compelling episode of The Ramsey Show Highlights, Dave Ramsey addresses a concerning call from a listener named Liz. The discussion centers around Liz’s relationship with a partner who has failed to file federal income taxes for approximately 20 years. Dave Ramsey, alongside his co-hosts, provides candid advice on the legal and personal ramifications of such financial negligence, emphasizing the importance of integrity and responsibility in financial matters.

Key Sections

1. Introduction and Caller’s Dilemma (00:36 - 01:35)

   The episode begins with Liz reaching out to seek guidance regarding her partner's long-term failure to file taxes. She shares her worries about their committed relationship and the potential fallout from his tax issues.

   • Caller Liz (00:36):

     "So I am with someone very committed that I find out he's not filed tax. He's been having taxes taken out of his checks and things like that, but he hasn't actually filed in about 20 years. And I'm trying to figure out the rest of my life basically because we're very committed."

2. Dave Ramsey’s Warning on Legal Consequences (00:54 - 02:16)

   Dave Ramsey addresses the severity of not filing taxes, highlighting it as a federal crime with significant repercussions.

   • Dave Ramsey (01:39 - 01:53):

     "Failure to file federal income taxes is a federal crime. 2581 people were incarcerated for that last year."

   • Dave Ramsey (01:54 - 02:16):

     "It's go to jail, do not pass go, do not collect $200. So, I mean, Mr. Off the Grid or whatever the ever. The flip is going through his redneck brain is about to have a serious problem. And to the extent you're connected to him, you're going to have a serious problem. They will catch up with him."

3. Analyzing the Partner’s Behavior and Risks (02:17 - 03:37)

   Liz reveals uncertainty about her partner’s reasons for not filing taxes, leading Dave Ramsey to discuss the absence of a coherent plan and the associated risks.

   • Dave Ramsey (02:31 - 03:37):

     "It sounds like there wasn't a thought process. That's what it sounds like. So, okay. There's just a lot of red flags there. If you were my little sister, I would just tell you to rethink whether you're going to be committed to this guy... This is dangerous. This is dangerous."

4. Co-host’s Reinforcement of Dave’s Message (03:37 - 04:01)

   The co-host underscores the gravity of Liz’s situation, emphasizing the importance of transparency and accountability.

   • Co-host (03:37 - 04:01):

     "Liz, Liz, if he's willing to withhold information from the federal government and Dave's made it really clear what the consequences of that looks like, he's... What, pray tell, is he willing to withhold from you?... I think Dave was really crystal clear with you, so I would dump this guy until he cleaned his life off."

5. Steps to Resolve Tax Issues (04:01 - 06:06)

   Dave Ramsey provides actionable advice for Liz’s partner to rectify his tax situation, emphasizing proactive measures to avoid criminal charges.

   • Dave Ramsey (04:01 - 06:06):

     "If he wants to get current and not go to jail, I can actually walk him through that and I'll give you a little quick overview... He can go to ramseysolutions.com, you can get in touch with one of our tax endorsed local providers and if you will proactively go to the IRS, you usually can file about three, maybe four years worth... So he can get with a tax professional, probably file about three years, maybe four years worth."

6. Further Insights and Moral Implications (06:06 - 07:30)

   The discussion delves into the ethical considerations of complying with tax laws, even when disagreeing with the system, and the broader implications of financial irresponsibility on personal relationships.

   • Dave Ramsey (07:16 - 07:30):

     "It's a matter of integrity to do what the law says, even if you disagree with it. You know, so that, that thus you should go to jail if you break the law."

   • Co-host (07:21 - 07:30):

     "We love our freedom more than we hate taxes. And so that's the issue here."

Notable Quotes with Timestamps

• Dave Ramsey (01:53):

  "Failure to file federal income taxes is a federal crime."

• Caller Liz (01:35):

  "I am not 100% sure of that answer. I just know that there was a history of no job then."

• Dave Ramsey (03:37):

  "This is dangerous. This is dangerous."

• Co-host (04:01):

  "I think Dave was really crystal clear with you, so I would dump this guy until he cleaned his life off."

• Dave Ramsey (07:16):

  "It's a matter of integrity to do what the law says, even if you disagree with it."

Concluding Insights

The episode serves as a stark reminder of the legal and personal dangers associated with financial irresponsibility, particularly in the realm of tax compliance. Dave Ramsey emphasizes the importance of integrity, proactive problem-solving, and the potential need to make tough personal decisions to maintain one's financial and legal standing. For listeners facing similar dilemmas, the advice centers on seeking professional guidance, addressing issues head-on, and prioritizing lawful behavior to ensure long-term stability and peace of mind.

Final Thoughts

“This Is Dangerous, Liz” is a powerful episode that highlights the intricate interplay between personal relationships and financial responsibilities. By addressing Liz’s predicament with expertise and empathy, Dave Ramsey underscores the critical nature of financial literacy and accountability in safeguarding one’s future.