Home / Business Channel
 LOOK FOR...   WITH KEYWORDS:  
AT WORK AT HOME BIZ OPPORTUNITIES LEGAL FORMS AFFILIATE PROGRAM

Consumer Watch
On The Money
Career Track
Health Quest
Business
Small Office
Web Builder
Marketing
Classifieds
Credit & Debt
Biz Finance
IR Journal
Legal Forms
Letter Templates
Archives
HOME

S U B S C R I B E

Good To Know

Computer Security Day
Contract Review: Checking For Key Contract Elements
Well Met: Making The Most Out Of Meetings

 

 

SPONSOR LINKS

Automate Your Email
Use autoresponders to automatically deliver sales information to customers

Small Business Guide on CD-ROM
Free small business guides & techniques

Your Logo on Anything
Personalize pens, bags, shirts, caps, golf balls, whatever

Wholesale Products For Your Business To Sell
Stock your store with thousands of products to choose from

Language Translation Service
Online language translating service

Cheap Ink Cartridges
Epson, Canon, Lexmark, and HP inkjet cartridges for 50%-80% off

 


PRINT THIS

Death And Taxes

“In this world nothing can be said to be certain, except death and taxes” Benjamin Franklin

I, like many other good citizens from this great country of ours, left it to the very last moment to mail off this year’s tax return. As I entered the local post office and saw the long line, I once again promised myself that next year would be different. I really would make the effort to get them off before the last minute rush.

As I moved slowly towards the front of the line, I began wondering, in this day and age, is this really the best system our great and wonderful leaders can come up with? After all, we now live in a world that allows a satellite miles above us to read a number plate. We can get the worldwide web on our cell phone, download TV programs that we may have missed or just want to save onto our iPods.

The original tax laws introduced in 1913 were a very simple affair. They began with tax brackets ranging from 1 to 7 percent – a far cry from today’s levels. The IRS tax codes, regulations and guidelines now have well over nine million words. No wonder there's so much confusion. Is there truly anyone who really understands this monster. Let’s put this into some form of prospective. The Declaration of Independence has a little more than 1,300 words. The Constitution, which has served us well for more than 200 years, comes in around 5,000 words and the Holy Bible makes do with less than 800,000 words.

The Office of Management & Budget estimated in 2004 that we as a nation spent over $200 billion on compliance cost. At a time when the nations manufacturing industries, the foundation of any good economy, are all struggling against cheaper imports, shouldn’t our leaders be using that money to create “jobs” for their citizens. Most experts agree that $200 billion would create well over three million jobs, which of course creates sales of consumable goods, which creates more jobs and sales taxes.

From the moment we wake up in the morning we are being hit by taxes. Everyone is at it -- turn on the light (electricity taxes), run the shower (utility taxes) and my personal favorite the telephone taxes, all six million of them, or that's what it seems to me every time I receive a telephone bill.

Has the time come for a simple flat rate tax, something we can ALL understand? There are many countries all over the world that have used this simple-to-understand and cost effective way of collecting taxes to revitalize their economies. (That includes Russia, Hong Kong and Romania.) Let's just imagine for a moment what it would be like if we could complete our tax returns on one simple piece of paper. A flat rate tax for individuals and a flat rate tax for businesses. The same rules apply to all regardless of size of income. We all pay the same rate. Most of the successful countries have levied flat rate taxes of less than 17 percent, with a stating level that protects the lower income groups. Could life ever be that simple again? Would our leaders really want us to understand what they were up to? And then there's those lobbyists. Oh well, it was nice while it lasted.

Carl Hampton is the author of the best selling book “From Credit Despair to Credit Millionaire”. His financial column “Your Money Matter” is now syndicated in a large number of newspapers with a readership of over 4 million readers per week.
Full Author Profile -->


PRINT THIS

 

DEPARTMENTS

Launch

Feature Story:

The Myth Of Being Your Own Boss
Managing Without Mom

Feature Story:

How To Reframe For Success


R E C E N T   S T O R I E S

Business Credit
The Layperson's Crash Course in Business Credit
Street-Smart Financing
How to Start or Expand Your Business with Street-Smart Financing
Attract the Perfect Investor
How to Attract the Perfect Investor for Your Business
Federal Help For Your Business
How to Obtain Local, State and Federal Help For Your Business

 

 

InsiderReports

Home  | Affiliate Login  | Search  | Advertise  | Classifieds  | Contact Us  | About Us  | Index
 

The Horizons Unlimited Group

Copyright © 1996-2009 Horizons Unlimited Group. All Rights Reserved.     Privacy Policy | Terms of Use
 


Click to verify BBB accreditation and to see a BBB report.