Pay More Taxes

Over the last couple of days a number of people have shared with me their feelings about the outcome of the Presidential election.

They’ve said things like, “The government punishes business so much, there isn’t going to be any reason to put forth the effort.” I’ve heard, “Why should I work so hard when the government is going to make me pay more and more taxes?”

Here’s my favorite: “Forty-seven percent of the people aren’t even going to try. They’re just going live on government handouts.”

You personal economy has nothing to do with outcome of the Presidential election. That isn’t how successful people look at these issues.

The Truth (For Those That Will Heed the Call)

Pay the highest tax rate you possibly can.

Succeed so wildly in all of your business endeavors that you find yourself in a tax bracket that makes you crazy uncomfortable. Give to Caesar what is Caesar’s, but keep the rest for yourself. Make sure that remainder is enough that you make your life the best life possible.

Now let’s deal with the forty-seven percent. Let’s say forty-seven percent of the population isn’t going to try to succeed. It’s sad. But for our purposes it means that half of the people with the skill, talents, and abilities—but lacking the ambition—aren’t going be competing with you (not that I believe that number is anything close to accurate).

Unless you are in politics, there isn’t much you can do about the outcome of any election. What you can do something about is your mindset and the level of success you achieve. Go ahead and succeed, and pay more taxes.