Sunday, July 5, 2015
Top Entrepreneur News

Sun, 05 Jul 2015 20:00:00 -0500

Dispel nerves and put your best foot forward when getting face time with reporters.

Sun, 05 Jul 2015 16:00:00 -0500

We'll take you through the entire process, from pitch decks to cut checks.

Sat, 04 Jul 2015 15:00:00 -0500

To celebrate the Fourth of July, here are inspirational quotes from five signers of the Declaration of Independence.

Sat, 04 Jul 2015 14:00:00 -0500

Six years ago, Paula Paredes started her ATAX franchise by first tackling an obstacle that had nothing to do with the IRS.

Fri, 03 Jul 2015 21:00:00 -0500

There's one thing you can do that will rally your customers, colleagues and even competitors.

Fri, 03 Jul 2015 20:00:00 -0500

Failure is an external event that happens. It is not a personality characteristic.

Fri, 03 Jul 2015 19:00:00 -0500

The generation dubbed "digital natives'' prefer YouTube to TV and the World Cup to bowl games. Marketers need to adapt.

Fri, 03 Jul 2015 18:00:00 -0500

The Golden Arches just wouldn't communicate the same thing if they were purple.

Fri, 03 Jul 2015 17:00:00 -0500

Ten famous entrepreneurs tell us why they declared their freedom.

Fri, 03 Jul 2015 16:00:00 -0500

An expert breaks down the good and the bad of licensing to help you decide.

Fri, 03 Jul 2015 15:00:00 -0500

They used to be in oil and gas; now these guys are into waxing. No, not cars -- women's legs.

Fri, 03 Jul 2015 14:00:00 -0500

For the company behind Horman's Best Pickles, there's never a 'dill' moment.

Fri, 03 Jul 2015 13:00:00 -0500

Learn to determine pricing that will make you a profit but won't scare away parents.

Fri, 03 Jul 2015 12:00:00 -0500

This feeling that we all strive for is a path we choose, not a destination to arrive at.

Fri, 03 Jul 2015 11:00:00 -0500

The line between being mindfully engaged and completely consumed by your startup can become hazy over time.

Sun, 05 Jul 2015 18:31:00 -0500

Video The joy over the Supreme Court's decision in Obergeffel et al v Hodges, Director, Ohio Department of Health should not obscure an important point, which I addressed in one of my earliest posts - Just Because They Won't Let You Do it Doesn't Make it a Good Idea.  Marriage is not [...]

Sun, 05 Jul 2015 18:06:00 -0500

Investors suffer a double-whammy when one of their holdings cuts its dividend, missing out on income and suffering a loss of principal in the subsequent selloff.

Sun, 05 Jul 2015 18:00:00 -0500

What did 16th century Romanians do with enemy Ottomans in their midst? Human bones from a mass grave reveal their shockingly violent deaths.

Sun, 05 Jul 2015 15:44:00 -0500

Considering both blockbuster holdovers are claiming $30 million weekend estimates, we won't really know whether Inside Out or Jurassic World topped the holiday box office until the finals come out tomorrow. Here is why I am rooting for Inside Out to "lose" this weekend: If Inside Out tops the box office in its third weekend, it will lose what [...]

Sun, 05 Jul 2015 15:17:00 -0500

Back in 1991, Terminator 2: Judgment Day opened over the July 4th weekend with a $31.7 million Fri-Sun frame and a long $52m Wed-Sun holiday weekend. That was the biggest five-day total of all time and the second Fri-Sun debut weekend ever behind the $42m debut of Batman two summers prior. The film ended [...]

Sun, 05 Jul 2015 12:00:00 -0500

Consumer-driven health care is sending out-of-pocket costs soaring.

Sat, 04 Jul 2015 23:41:00 -0500

At its heart, Apple Music is a simple proposition. For your monthly subscription, Apple will offer you access to a library of over 30 million tracks. But subscribing requires sacrifice. You have to hand over control of your iTunes music library to Apple and hope that Cupertino's arrogance will preserve your music collection.

Sat, 04 Jul 2015 16:10:00 -0500

Apple will disappoint many with by retaining this...

Fri, 03 Jul 2015 22:55:00 -0500

This week’s Apple Loop includes a look at the disappointing iPhone 6S leak, the launch of Apple Music, iOS 8.4's strengths and weaknesses, the update to iTunes 12.2 and issues with iCloud Music, the new iPod range, Apple's US market share numbers, and the first full trailer for Michael Fassbender's 'Steve Jobs'.

Thu, 02 Jul 2015 10:00:00 -0500

People of all ages are today increasingly reliant on digital devices and not on their own memories to store information. Our recent research shows that if you’re an adult in Europe, the odds are high that you’ll recall the phone number of the home where you lived when you were [...]

Wed, 01 Jul 2015 16:03:00 -0500

Question: How many entrepreneurs does it take to change a light bulb? Answer: Does it have to be a light bulb?

Latest News & Information

Current Articles | Archives | Search

Where Less Tax Burden Flow - Chaldean Businesses Go
By David Najor :: Monday, December 22, 2008 :: 21802 Views :: Article Rating :: Business & Finance, Government & Society

California, USA – Chaldeans in California grow worrisome as the state’s debt skyrockets.  “They will tax the people to death in this state,” says Abrahim Bajoka, owner of an Arco Gas Station.  “Tax! Tax! Tax!  The more money they take from us the less we can grow, hire new people, or buy new products to sell.  This is basic business.  What is wrong with this state?”

Bajoka’s aggravation is not rare.  Taxpayer groups in the “Fruit & Nut” state are also fuming and vowing to go to court to initiate a referendum to halt nearly $10 billion in recent tax increases Democrats passed in a secret special session last Thursday. 

Lawmakers across the nation are shocked at the extraordinary parliamentary maneuver.   California Democrats circumvented a constitutional provision requiring a two-thirds vote in the state legislature to raise taxes by using their simple majority. “What they are telling small business owners is that we don’t want you in our state,” says Bajoka.  “The hard workers get taxed and the lazy get fed.  This is all wrong.”

So which are the best low-tax states welcoming new business leaders and encouraging economic growth?  Just follow the trail of Chaldeans….

Chaldeans are wisely picking the low tax states to expand their franchises or establish new businesses.  Lower taxes gives businesses more cash to spend exploring new business ideas, product lines, marketing, and research.  Kicking less money up to Uncle Sam also helps business owners better cope with changing estimations of expenses due to regulatory fuel and energy costs. 

Bajoka says that whatever taxes a business is required to pay will simply be passed to the customers by increasing the cost of products.  However, higher prices means less buying, which means less production and manufacturing or a slowing of the economy.  “Customers will buy less.  They can’t afford as much because government forces the prices to go up.  This is not the time to raise taxes.” 

Tax Foundation President Scott Hodge reported a study that shows Americans will spend more on taxes in 2008 than on food, clothing, and housing combined. The report went on to say that in 2008, Americans worked 74 days to pay their federal taxes and 39 days more to cover state and local levies.

Outside of leaving the country, the most one can do about Federal taxes is vote the right people into office.  But the state and local tax burden varies considerably by location. The most expensive state and local taxes are typically sales and excise taxes (14 days' pay), property taxes (12 days' pay), and income tax (10 days' pay).

U.S. News cranked recently sifted through more than 2,000 U.S. places to find locales that have relatively low taxes but also offer amenities important to small business owners like a reasonable cost of living and fine recreational and cultural choices. Many of the low-tax havens have no state sales tax, like Billings, Mont., or no state income tax, like Sioux Falls, S.D.

There's nothing like zero tax to make your business dollar go further. 

Chaldeans are well aware of one low-tax retirement gem, Stafford, Texas, a suburb of Houston.  The place has been booming with new businesses because of the suburb’s move to entirely eliminate its property tax in 1995. Texas is also one of seven states with no income tax. (The others are Alaska, Florida, Nevada, South Dakota, Washington, and Wyoming.) Stafford also has the lowest sales tax in the Houston area.

Chaldeans are also moving to Florida and Las Vegas.  The business-friendly tax structure of the states has kept the states doing amazingly well in comparison to states like Michigan, Illinois, and California are drowning.  Both Florida and Nevada have slashed government budgets instead of taking the short-term easy way out and tax residents and businesses. 

There is one state the our native desert dwellers have yet to invade.  The most tax-friendly state for businesses is Alaska. The geographically largest state in the union is the only one without any kind of income or sales tax and pays residents to live in their state.

Alaska residents with at least one year in the state receive annual Alaska Permanent Fund dividends. The state’s governor was able to secure an incredibly high payout for Alaskan residents of $3,269 in 2008, but even more typical dividends have been nothing to scoff at, ranging from $827 to $1,964 over the past two decades.

Who knows maybe Chaldeans will venture out into polar bear country?  Michigan Chaldeans won’t have much of a problem dealing with the frigid winds, snowy roads, and icy car doors - not as long as they keep the tea warm.