Be honest, if not with me at least with yourself…
How many people look forward to the 4th of July because of the fireworks and the day off of work during nice weather?
I mean, come on, right? It’s a great holiday that quite often even breaks up a week, and if your boss is a true prince even creates an unexpected 4-day weekend.
What’s not to love about that?
I think even the people that paid zero attention in school recognize July 4th as an important day, though I’m not confident that everyone would understand the actual significance.
It’s “our nation’s birthday.” It’s about the Declaration of Independence.
It’s even called “Independence Day.”
Independence from what, exactly? I know there are people that would not get this if asked by a talk show host during one of those streetwalking segments.
The kind of people that don’t know who the vice-president is.
Or the two countries that have shared borders with ours.
Really!
Of course, you, hero entrepreneur, are savvier than that. At least, I hope so!
The answer of course is independence from the British. More specifically, the British Crown whose titular head was King George III, and the taxation of the colonies without any return value.
That’s bad business. The Colonials knew it, and even had a name for it:
Taxation without representation.
The case for independence then, in the humble opinion of yours truly, was a case for self-governance, sovereignty, and the casting off of the leash put upon them by their hard-earned revenue being siphoned off by a government that didn’t give two squirts in a tin pail about them.
Does any of this sound eerily familiar?
The Bloody British
I would say without much hesitation that the concept of taxation without representation led to the frustration that caused the Colonials to dump over 300 shipping crates of tea into Boston Harbor in December of 1773. This in turn led to the Declaration of Independence we celebrate every year on July 4th.
We became politically independent of British rule after years of struggle, and the forming of our more perfect union with the Constitutional ratification of 1788. We are free and proud, and have promoted the cause of democracy from then until now, but here’s a little food for thought:
How represented do you actually feel today as it relates to the levying of a federal income tax?
You know that taxes are the law. You assume that they are being levied to fund the federal government to some degree.
Can you honestly say that we have taxation with full representation today?
Though we are taught the virtues and benefits of democracy as school children, and we are also taught that this is in fact our form of government, there is not much actual democracy left in the process.
Let me ask you this: do you have any say at all about the actual allocation of what your U.S. government refers to as “discretionary spending?”
All kinds of shit goes on at the highest levels without anyone asking you, or me, if it’s okay before they do it.
That’s because we are in fact a republic, much more than a democracy.
In other words, we elect people that then make our decisions for us.
Since we have elections, we are led to believe that these leaders have been chosen with a fair and just process.
But hey, have you always been able to say you’re 100% satisfied with the leadership you are provided?
I can’t remember the last time a U.S. President had an approval rating average above 50%, so I went and checked.
Gallup says it was Bill Clinton. That’s going back a while!
I’m not saying love of country is wrong, but ask yourself this question and really think about the answer:
How represented do you feel on this fine holiday weekend in relation to your taxation?
An Important Annual Calendar Landmark
With the close of June came the conclusion of the 2nd quarter, and the half-point of the year.
The financial statements and analyses you have, or are about to receive are critical, because what better time to measure your success to date than the point at which you can just multiply by 2, and estimate your performance for the entire year?
Since we crank out all of our client financials between the 5th and the 10th of any other month anyway I look forward eagerly to the 4th of July as the financial midpoint of the year.
An Independence Day of performance metrics if you will.
Because metrics are knowledge.
Knowledge is power, and by extension freedom as well.
Set yourself free this first week or two of July (and the 3rd quarter), and sit down for a serious look at your business financial scoreboard.
Want help?
Guidance?
Proactive tools that give you small, mid-range, and long-term targets to shoot for?
Another way you can set yourself free is to seek proactive accounting help, advice, and long-term planning?
Reach out now through our social media, or book a Work With Me conversation now.
This is one of the few services that creates ROI for the investor AND provides the high-level of diligence you should expect on your way to a wealthier tomorrow.
Let’s kick off a kick-ass 2nd half of 2023!