The New York Times recently published a column that instead of increasing support for taxing the rich and giving it to the poor, “close to the opposite has happened.” The column went on to say conservatives feel this proves Americans understand lower taxes spur growth and liberals say our citizens have been hoodwinked.
Let me offer another explanation (and I didn’t make this up, it’s been around for some time). Many Americans can visualize themselves hitting the jackpot and being in a high tax bracket, a bracket they don’t want to be too high.
There’s a reason my book is titled Buying a Business That Makes You Rich and not “Safely Buy a Business,” or, “Protect Your Backside When Buying a Business,” or, “Business Buyers: Avoid Calamity.”
Nobody buys a business to keep it where it is. Every buyer uses terms like growth, scalability, and accelerate when discussing what they want to do. With growth comes more profits and becoming “rich.”
While we’re talking monetary riches it can also mean increased flexibility, independence, control and free time. The American Dream of being successful and doing it by owning a business is alive and well. As I wrote last week, just don’t over think it.
“You don’t lead by pointing and telling people someplace to go. You lead by going to that place and making a case.” Ken Kesey