Sunday, August 30, 2015
Top Entrepreneur News

Sun, 30 Aug 2015 19:00:00 -0500

It's never too early to start teaching the value of a dollar.

Sun, 30 Aug 2015 16:00:00 -0500

Astropad Mini turns your iPhone into a professional-grade graphics tablet.

Sun, 30 Aug 2015 13:00:00 -0500

Pressure at the top is inevitable. Here's how the best-known business moguls rise above it.

Sat, 29 Aug 2015 21:00:00 -0500

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

Sat, 29 Aug 2015 21:00:00 -0500

Loyalty and ambition drive a U.S. success story.

Sat, 29 Aug 2015 15:00:00 -0500

Essie Weingarten wants to remind entrepreneurs that success takes time and commitment.

Sat, 29 Aug 2015 14:00:00 -0500

With 74 western U.S. Dairy Queen locations, and 43 years as both franchisor and franchisee, Bill Spae is also focused on growth.

Fri, 28 Aug 2015 21:30:00 -0500

Companies in the booming sharing economy depend on contractors who may legally qualify as full time employees. The distinction is crucial for both workers and their employers.

Fri, 28 Aug 2015 21:00:00 -0500

What happened in Roanoke wasn't the first tragedy and won't be the last.

Fri, 28 Aug 2015 20:30:00 -0500

When it comes to building your brand, how you spend your money is at least as important as how much money you spend.

Fri, 28 Aug 2015 20:00:00 -0500

The hit show is just the frosted tip of what Carlo's Bakery has grown to be.

Fri, 28 Aug 2015 19:30:00 -0500

On the eve of a son's departure for college, an Adobe executive ponders the parenting lessons she's learned.

Fri, 28 Aug 2015 19:00:00 -0500

Even if you've attended a conference that targets young entrepreneurs, perhaps it was run by a different age group and therefore came across as less than authentic. Try these events.

Fri, 28 Aug 2015 18:30:00 -0500

We don't have the time or the resources to carefully think through everything. So we do a lot of things by our gut. Sometimes things turn out OK. Sometimes, well -- it's not so good.

Fri, 28 Aug 2015 18:00:00 -0500

Investors can't really evaluate any new business, but they can assess the logic behind your numbers, and compare that logic to their experience and rational business norms.

Sun, 30 Aug 2015 21:52:00 -0500

Apple Watch is poised to become the wearables market leader, IDC says. (Credit: Apple) The Apple Watch appears poised to become the leading wearable.  After constant use of the Watch for two months, I'll take a stab at why. IDC published some surprising data on Thursday.  Apple shipped 3.6 million Watches in [...]

Sun, 30 Aug 2015 21:10:00 -0500

Will any of these be deal breakers for you?

Sun, 30 Aug 2015 21:10:00 -0500

Mitch Evans, one of the leading lights of single-seater junior auto racing, says he believes Formula One’s audiences could accelerate if the series returned to 2.4-liter V8 engines which it dropped last year in favor of more environmentally-friendly 1.6-liter V6 turbos. The new engines come complete with energy recovery systems which [...]

Sun, 30 Aug 2015 20:57:00 -0500

Even smart and savvy people can get snookered into giving away their work for free! Here are five of the most common work-for-nothing scams

Sun, 30 Aug 2015 17:19:00 -0500

What distinguishes command-and-control managers from true leaders? Liz Ryan spells it out

Sun, 30 Aug 2015 16:05:00 -0500

  The numbers are compelling: 37 million people who paid to have their names removed from online affair site, Ashley Madison -- and nearly all men (the 5.5 million women profiles on the list were later found to be nearly all fake). I crunched the numbers (see bottom of post for [...]

Sun, 30 Aug 2015 13:20:00 -0500

Now users of the three most recent versions of Windows are all tracked by default...

Sun, 30 Aug 2015 09:34:00 -0500

We're hearing a lot at the moment about how Bernie Sanders is a democratic socialist. This means something a little different in my part of the world, something akin to the Soviet economic and political system but I'm aware that in American parlance it means what we Europeans would call [...]

Sat, 29 Aug 2015 16:07:00 -0500

What we conceive of as great, inspiring leadership has significantly changed over the past decade.

Tue, 25 Aug 2015 15:06:00 -0500

Long ago, I was on the set of a Hollywood action movie, surrounded by some of the best martial arts fighters in the world. These guys could run up a wall, flip over backward, and kick someone on the way down. They could land flat on their backs and bounce up [...]

Fri, 21 Aug 2015 19:16:00 -0500

One-third of employees may be victims of workplace bullying. Here's how to make it stop.

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Where Less Tax Burden Flow - Chaldean Businesses Go
By David Najor :: Monday, December 22, 2008 :: 22465 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.