Starting a new company is difficult and comes with a lot of investment and risk. Giving entrepreneurs the ability to invest more in their business by not taxing them until the business makes over 200k (profit) or so would give them more time to get going.
When taxes kick in it would be a flat rate of 5% for 5 years. This would help stimulate the economy and encourage entrepreneurs grow a company. From this we would see more people taking risks to build companies that normally they would not be able to afford to do so.
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people would just close up shop before the thresh hold. there would be no way of knowing if they closed legitimately unless they were always 1cent short of the threshold.
True true. What would make it better?
the whole tax system is a mess. adding more fixes on top of what is already there ends up in even more of a mess.
you can’t fix it with patches it needs to be completely redesigned.
we should probably start on repealing some taxes and lowering others.
for instance, repealing land tax would make rent for business owners a lot cheaper. that’s across the board for even the building you go to pay for all the licenses you would need…in theory it would make those costs cheaper too.
it’s also something EVERYONE can agree with, rich people, land owners, renters, landlords.
at the local level all licensing requirements for businesses, could be done online without all those employees, further reducing costs. but that would be a lot of angry pencil pushers.
there’s some other great threads on here about what taxes to repeal to make things easier for people, but adding things to a great big mess is only gonna cause more problems.
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