Increasing revenues using power of Internet takes vision, planning and implementation. All of this is connected to your systems.

Do you have systems in place? If so, how effective are they? Are you consistent with what you do? Do you track your results? Do you think in short term or long term with your systems?

Anyone who is succeeding using Internet in their marketing has effective systems in place, they are consistent, they track results and they think in both short term strategies and long term.

Do you?

The article points out that while many large U.S. businesses use loopholes and shelters to pay far less than national rate suggested, even effective rate is still as much as 10% above Europe’s average. The result is that Europe is addressing overhead issue via tax reductions to woo U.S. companies to expand in Europe rather than at home. This potentially moves jobs and revenue offshore.

We truly are in a global economy and must compete in that global economy not only for customers and revenue, but now governments are competing for business and jobs in their countries. It’s a beautiful thing.

The last major rate reduction in U.S. corporate rate came in 1986. Since then deductions and shelters have proliferated and businesses have become more adept at creating profits offshore rather than at home to avoid high tax rates. For example, in 1999 U.S. Companies reported $13.3 billion in profits in Ireland. With tax reduction in Ireland, profits in that country have jumped to $26.8 billion in 2002.

Europe is becoming much more business friendly and if U.S. wants to increase jobs and tax revenues, they are going to have to become much more competitive from a tax standpoint.

The words “ownership society,” journal article and my article, “The Overhead is Killing US” all merged together in my mind to paint a very different picture of a potential future for U.S. and World. If governments are awakening to idea that businesses create profits and jobs (without which there are no tax revenues), then maybe there is hope that world is changing and resulting competition by governments will make possibility of an “Ownership Society” a very real possibility.

 Copyright Bob Cannon/The Cannon Advantage, 2005. All rights reserved.

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