EternalTruths:




You talk of taxation to help the poor.


My friend go back to history and you will realize that taxing the rich to help the poor never worked in all societies it was applied.

The best way to help the poor is to

1) Create platforms that can enable them to exchange their goods & services for money in order to increase their pockets.

2) Empower them with the knowledge to produce more & diverse goods & services.


So focusing on Taxation to help the poor always backfire.



As for your initial question on how reducing tax can increase revenue, google 2 American Presidents on their tax reforms.

1) Carnegie

2) Reagan.


You can check Rich Dad Poor Dad by Robert Kiyosaki for better understanding.

Your pov sounds like a whole load of theoretical horse manure that hasn't been put to the test to validate its viability. And by the way, did you just mention Robert Kyosaki? The same guy that couldn't live up to his own hype and filed for bankruptcy for his refusal to pay up his debt a few years back

http://www.dailytelegraph.com.au/author-of-rich-dad-poor-dad-files-for-bankruptcy/news-story/da8a1a873abc0348aca1c9246ab4f9de

RockHard:


Your pov sounds like a whole load of theoretical horse manure that hasn't been put to the test to validate its viability. And by the way, did you just mention Robert Kyosaki? The same guy that couldn't live up to his own hype and filed for bankruptcy for his refusal to pay up his debt a few years back

http://www.dailytelegraph.com.au/author-of-rich-dad-poor-dad-files-for-bankruptcy/news-story/da8a1a873abc0348aca1c9246ab4f9de

Go and read more about Calvin Coolidge and Reagan who remains 2 of the United States best presidents in transforming the US economy into a prosperous one through cut in tax rates.



It is not just theoretical but something that has worked in several societies including Nazi Germany.

EternalTruths:



Go and read more about Carnegie and Reagan who remains 2 of the United States best presidents in transforming the US economy into a prosperous one through cut in tax rates.



It is not just theoretical but something that has worked in several societies including Nazi Germany.

Hold up Dude. You clearly don't know what you're talking about. Carnegie was NEVER POTUS oo He was a steel industry magnate/businessman. And mehn, you keep coming up with the weirdest references as examples. Nazi Germany?? Like seriously? Jew-Hating, Holocaust-perpetrating, WorldWar 2 triggering Nazi Germany?? Smh.

Imagine Ebonyi State governor, creating a platform whereby a yam farmer who used to pay a tax of #100,000 at 10% on 1,000,000 naira he generates yearly, now generates 2,000,000 naira yearly by selling his yam to industries or foreign markets the State Governor was able connect him to.

OP,
This is poor recommendation. This is called government subsidy. Government is spending money to sustain private sector. Businesses should be innovative and self funding.

The proven and most efficient way to boost tax revenue is to do two things and both are equally important...

1. Bring in population by promoting incentives that are business and workers friendly.

2. Create innovations for new production growth and increase gainful employment through investments and loans.

To generate good flow of tax revenue at sustainable rates, minimum 65% of the population in the production age range (16 to 70) must have gainful employment, in a combination of full time or seasonal or part time.

RockHard:


Hold up Dude. You clearly don't know what you're talking about. Carnegie was NEVER POTUS oo He was a steel industry magnate/businessman. And mehn, you keep coming up with the weirdest references as examples. Nazi Germany?? Like seriously? Jew-Hating, Holocaust-perpetrating, WorldWar 2 triggering Nazi Germany?? Smh.

I am not talking about Carnegie in the Men who built America.

I mean Calvin Coolidge


Sorry for the mix up.


Study these men tax system.


Calvin Coolidge

Reagan



As for the Nazis, they achieved great success in their economy

BabaRamota1980:


OP,
This is poor recommendation. This is called government subsidy. Government is spending money to sustain private sector. Businesses should be innovative and self funding.

The proven and most efficient way to boost tax revenue is to do two things and both are equally important...

1. Bring in population by promoting incentives that are business and workers friendly.

2. Create innovations for new production growth and increase gainful employment through investments and loans.

To generate good flow of tax revenue at sustainable rates, minimum 65% of the population in the production age range (16 to 70) must have gainful employment, in a combination of full time or seasonal or part time.

Pls if you don't know the meaning of subsidy, check the dictionary.


Creating platforms for people to make more money is neither subsidy neither nor welfarism.


Pls look up the terms you use in a dictionary.

EternalTruths:




You talk of taxation to help the poor.


My friend go back to history and you will realize that taxing the rich to help the poor never worked in all societies it was applied.

The best way to help the poor is to

1) Create platforms that can enable them to exchange their goods & services for money in order to increase their pockets.

2) Empower them with the knowledge to produce more & diverse goods & services.


So focusing on Taxation to help the poor always backfire.



As for your initial question on how reducing tax can increase revenue, google 2 American Presidents on their tax reforms.

1) Calvin Coolidge

2) Reagan.


You can check Rich Dad Poor Dad by Robert Kiyosaki for better understanding.

You need to understand that tax cuts can only have an impact where the tax system is well developed and most people and business are within the tax net. What impact will 10% tax cut have have for an economy collecting 5% GDP as tax when it needs to collect 40% tax of GDP?
It will not have impact on boosting sales and economic activity as most of the wealth remained in private hands of a few.

Now after training the poor to be productive what do you do with those who are challenged? What of the 80% of businesses that fail in the first five years what safety net is available for them? You want the few that succeed to take almost all and not pay a fair share to keep the country running. When defense and security issue comes do you start running after billionaires to come and donate to the government?

Recently USA that is less than twice our population announced they will be spending $30 billion on only heart related issues of their health sector. Nigeria government budget for 2017 is barely $20 billion our total earning from oil, VAT, port charges, duties, taxation etc, and has to be made with huge loans. And from this money we must pay salaries, run government schools, buy arms for our security forces, and settle some big wigs.

For the tax cuts by Coolidge and Reagan it led to huge deficits and in the first instance led to the great depression and for Reagan the economy tanked such that Bush senior could not get a second term. Clinton came and grew the economy again with appropriate taxes and increasing government spending to lift the poor.

EternalTruths:



Pls if you don't know the meaning of subsidy, check the dictionary.


Creating platforms for people to make more money is neither subsidy neither nor welfarism.


Pls look up the terms you use in a dictionary.

Your government will be subsidizing private investors if you ask them to found startups with the goal of raising them to become cash cows for tax revenue.

Maybe you need to clarify your entry input on the ways government can raise money.

BabaRamota1980:


Your government will be subsidizing private investors if you ask them to found startups with the goal of raising them to become cash cows for tax revenue.

Maybe you need to clarify your entry input on the ways government can raise money.

What is your view about YOUWIN.?

YOUWIN, did you support it then or not.?


Did YOUWIN help to build up the SME sector.?

EternalTruths:




You talk of taxation to help the poor.


My friend go back to history and you will realize that taxing the rich to help the poor never worked in all societies it was applied.

The best way to help the poor is to

1) Create platforms that can enable them to exchange their goods & services for money in order to increase their pockets.

2) Empower them with the knowledge to produce more & diverse goods & services.


So focusing on Taxation to help the poor always backfire.



As for your initial question on how reducing tax can increase revenue, google 2 American Presidents on their tax reforms.

1) Calvin Coolidge

2) Reagan.


You can check Rich Dad Poor Dad by Robert Kiyosaki for better understanding.

And how do you train a severely autistic child or bad level of downs syndrome to become all productive, what about morons and imbeciles, those with severe physically challenge. What of those suffering severe bouts of depression, additions, emotional imbalance, personality types that cannot run business or hold down a job for long.

In my engineering class many fell by the way side and did not graduate, some are doing well now while many never found their bearing.
In a class of rocket scientist no all graduate to become a rocket engineer what do you do with the failures. Statististics shows that 80% of businesses fail within the first 5 years, what happens to the huge number of failures, or you will apply the he who does not work shall not eat.
The western countries applied this principle more than you can think of but social issues, over-crowding in cities, child labour, family dysfuntion, discrimination based on gender and race was the result. They now established a tax financed welfare system to cope with the situation and they now have outstanding results with one of the highest human development index.

Even the USA the land of supposedly pure capitalism has established the Social security system to care for the weak, Obamacare is another attempt to carry along the left behind medically, not leave their very existence to pure profit motive and unbridled competition. Even USA farmers get a lot of incentives and subsidies while the IMF discourages us from eat leading to collapse of agricultural output

Only animals eat their weak raw and provide virtually no means of escape from grinding poverty

RockHard:


Hold up Dude. You clearly don't know what you're talking about. Carnegie was NEVER POTUS oo He was a steel industry magnate/businessman. And mehn, you keep coming up with the weirdest references as examples. Nazi Germany?? Like seriously? Jew-Hating, Holocaust-perpetrating, WorldWar 2 triggering Nazi Germany?? Smh.

when I saw it I was like whaaaat!

baralatie:
when I saw it I was like whaaaat!

And stupidity never told you that it was corrected to Coolidge and Reagan.
Next time read all posts before commenting.