Become The Wealthy You! – OFFENSE

Taxes and profits; crime and losses.

Taxes, profits, crime and losses are all generated by people, it is something that is produced when decisions are made.  And not all can happen at once.  Taxes are paid out of profits and not losses.  If a company has a loss in earnings in any given year, the IRS will not be expecting taxes to be paid by the company.  But once losses are eliminated in its entirety, and more money flows into the coffers than there is money leaving the coffers, then profits are being earned.  And if profits are being earned, by anyone like giant corporations and small pa-and-ma shops, then the IRS will be expecting taxes to be paid.  But paying taxes is good because it indicates profits.  Profits are gains between the amount spent to produce something and the amount earned from the final production.  When profits are being earned, we all benefit because products and services are created that you and I can use to our advantage and consume.  Jobs are being created to help produce the product and service to earn the profit.  And taxes are being paid to the government to help fund government expenditures and services for the people who need it.  All these benefits have the potential to disappear if profits disappear.  The opposite of profits are losses.  No one likes to lose.  From professional athletes all the way to your bank account and everything in between, losses are generally frowned upon and is sought to be diminished.  As soon as losses start to become obvious, crime isn’t too far behind.  Crime is a form of loss and usually people and society don’t benefit from crime.  No one is living a better life because someone committed a crime.  Stealing bread to feed yourself is one thing, but to outright steal to enrich oneself at the expense of innocent people and to do this when starvation isn’t a concern benefits no one.  Taxes aren’t being paid because a crime happened.  The victim experiences a loss and consumes even more resources trying to recover from the loss.  And the thief or the criminal can’t use or consume the things they stole because it was an illegitimate gain and the moment a thief starts to consume what they stole, it will become obvious that they stole it because someone will recognize what they have truly belongs to someone else.  All illegitimate gains tend to fall into disarray before it is completely lost, which means the asset will end up being destroyed.  The thief will also miss out on the good feeling of working hard towards something that may be of interest and achieving it after years of hard work (success is working towards a worthy goal and achievement.  Criminal activity avoids and neutralizes that).  And that is just it, success is making the decision to works towards something that is worthy to work towards every day.  What is your decision?  Taxes and profits or crime and losses?

If your decision is profits, then taxes will always be associated with the profits you earn.  With sound financial decision making and planning following Become The Wealthy You! – DEFENSE, you should be seeing profits more often than losses.  It takes work, energy and thought power every day, but it is something you get to do every day and not just for a short period of time.  Becoming The Wealthy You! – OFFENSE is about producing more.  So if your decision is profits, then learning how to increase your profits on a regular basis is a skill you will have to get intimate with. 

A person can only produce so much with their own two hands and the time they have in the day.  For a person to increase their production, they must reach out for help to help them produce more.  Another way to put it is to hire employees.  Some people call it delegating responsibilities to other people (the higher the responsibility, the higher the pay), but it is still hiring employees.  It can also include hiring third-party contractors to help as well.  Having employees will help increase your production once fully trained and established, but each employee represents one job that was created to help you.  There are governments at all levels that release or announce tax incentives to attract job-creators to their community.  Questions have been raised about the true effectiveness of these tax incentives (some will say that all they do is move jobs around the country versus creating brand-new, additional jobs), but they could be opportunities for you to take advantage of.  And the more jobs that you can create the greater those rewards.  The opposite of tax incentives released by governments is entrepreneurship and that is where Becoming The Wealthy You! – OFFENSE lives.  According to a study by the University of Maryland, based on statistics released by the U.S. Census Bureau, business startups account for approximately 20 percent of total U.S. job creation, while businesses that experience high-growth generate almost half of total U.S. job creation. These businesses tend to be small and young, classifying them as small businesses. Most new jobs are created by companies, firms and other institutions that are 10-years old or younger and not the generational firms that are over 100 years old.  Those jobs have already been created and are already occupied by existing employees.  When an old company moves their factory from one state to another because of tax incentives, then these jobs are just moved instead of new additional jobs being created (the people may not always move, but the jobs do).  Entrepreneurship is “the activity of setting up a business or businesses, taking on financial risks in the grand hope of profit.”  If you pick profit, it will be your responsibility to figure out how to produce, hire employees, distribute your product or service and to ensure the business entity runs efficiently and financially smart.  When you hire employees for a brand-new business or firm to help produce, your profits can increase, but you also create jobs in your community and each job will provide an income to the people who have assumed that responsibility with the corresponding earned income taxes being paid to the government from each job’s paycheck, increasing the amount of taxes being paid by your production.  Taxes are paid each time an employee receives their paycheck (from you but paid via their production as an employee) and paid on the profits earned by your production and business (busyness) on an annual basis. 

Economic doom and gloom can be diminished greatly too.  If your community, or the nation as a whole, is experiencing a period in which employment opportunities are limited and lacking, then become the solution to those problems.  Be the person that attempts to create jobs for your community instead of looking for a job for yourself.  If you create jobs for your community and people are able to take care of themselves and their families because of the jobs you have created, then you will be taking care of yourself and your family too (it is the positive side of karma).  It happens because of your decision and desire to earn profits and not losses.

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Become The Wealthy You!