Chris Banescu

The Government’s War on the Little Guy

Government war on the little guyby John Stossel –
Marty the Magician performed magic tricks for kids, including the traditional rabbit-out-of-a-hat. Then one day: “I was signing autographs and taking pictures with children and their parents,” he told me. “Suddenly, a badge was thrown into the mix, and an inspector said, ‘Let me see your license.'”

In “Harry Potter” books, a creepy Ministry of Magic controls young wizards. Now in the USA, government regulates stage magicians—one of the countless ways it makes life harder for the little guy.

Marty’s torment didn’t end with a demand for his license. “She said, from now on, you cannot use your rabbit until you fill out paperwork, pay the $40 license fee. We’ll have to inspect your home.”

Ten times since, regulators showed up unannounced at Marty’s house. At one point, an inspector he hadn’t seen before appeared. He hoped things had changed for the better. [Read more…]

Three Things a Great Leader Would Never Say

Things a Great Leader Would Never Say by Les McKeown –
Great leadership is hard. Very occasionally, it’s pretty simple– like just not saying dumb things.

In the spirit of simple leadership, I give you my personal top three dumb things leaders shouldn’t say. No doubt your mileage will vary:

1. “Don’t bring me any surprises.”
I hear it all the time, and so do you (maybe you’re even guilty of it yourself)– a leader is blindsided by some event they couldn’t have predicted, and, out of embarrassment, swears they’ll never be caught unawares again.

At first they work harder, longer, assimilating data like an apocalypse is on the horizon that only they can avert, but then…bam. Another unexpected shoe drops, another unpredictable event occurs, and our leader is left with egg on their face all over again.

Redoubling their efforts, the leader adds another layer of protection against catastrophe – a mantra they begin doling out to all their direct reports: “Don’t bring me any surprises” (or its close cousin “Don’t bring me any bad news“). [Read more…]

Jeff Bezos (Amazon): Top Ten Maxims for Business Success

Jeff Bezos Amazon Top Ten Maxims for Business Success Chris Banescu –
Jeff Bezos, the founder and current CEO of Amazon.com, offers ten maxims that have helped him turn Amazon into the world-class company it is today. Leaders should consider these important principles if they want to insure the long-term success of their businesses. The list was compiled by George Anders, Forbes contributor who writes about management, careers and unforgettable personalities. This story appeared in the April 23, 2012 issue of FORBES magazine.

1. “Base your strategy on things that won’t change.”
Selling lipstick, tractor seats, e-book readers and data storage is all part of one big plan with three big constants: offer wider selection, lower prices and fast, reliable delivery.

2. “Obsess over customers.”
Early on Bezos brought an empty chair into meetings so lieutenants would be forced to think about the crucial participant who wasn’t in the room: the customer. Now that ­surrogate’s role is played by specially trained employees, dubbed “Customer Experience Bar Raisers.” When they frown, vice ­presidents tremble. [Read more…]

California Income Tax Rates 2013 and Beyond, Highest Taxes in America

California Income Tax Rates Highest in America by Chris Banescu –
Following the passage of Proposition 30 in November 2012, California’s income tax rates have reached an astronomical 13.3% rate. Not only does California now have the most progressive income tax rates of all the states, individuals begin paying an 6% rate at $27,898 and an 8% rate at $38,727 in income, but it now surpassed Hawaii (11% top rate) as the state with the highest income tax rate in America.

According to a 2013 survey from Chief Executive magazine California’s business climate ranks dead last among all 50 states. Is it any wonder that so many companies, corporations, and high income individuals continue to flee California and relocate to other states?

Proposition 30 raised income tax rates for all Californians earning more than $250,000 per year. It progressively increased tax rates from 1% to 3% for all individuals and families earning above that level. Higher income households now face a 10.8% to 29.1% increase in overall tax rates. [Read more…]

Top State Income Tax Rates for All 50 States

Top State Income Tax Rates Americaby Chris Banescu –
The Tax Foundation has released a comprehensive graphic that summarizes the top state income tax rates for all 50 states. It provides a very clear picture of the tax situation across the United States. The chart is reproduced below.

California (13.3%), Hawaii (11%), and Oregon (9.9%) have the highest marginal tax rates in America. Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming, on the other hand, are the only seven states with no income tax.

The Tax Foundation, a non-partisan, non-profit research organization that has monitored tax policy at the federal, state and local levels since 1937. [Read more…]

Cronyism Undermines the Beneficial Role of Business in Society

Cronyism Undermines Capitalism and Free Markets by Sam Patterson –
The role that business plays in society is straightforward – businesses produce goods and services that people consider beneficial. If a business can do that while wisely using resources, it makes a profit. Successful businesses benefit society by producing goods or services which improve people’s lives, and are then rewarded with profit. Those profits enable businesses to innovate or offer more goods and services, further improving people’s lives. Businesses must cater to the needs of society or they will find that they are not rewarded with profit and may well no longer exist.

At least, that’s how it works in a free market. There is another path for businesses to make profit other than providing valuable products. It’s called cronyism. Cronyism occurs when a business colludes with government officials to create unfair legislation and/or regulations which give them benefits they could not have otherwise obtained voluntarily. [Read more…]

Seeing Yourself as Others See You Key to Being a Great Leader

Seeing Yourself as Others See Youby Linda Hill & Kent Lineback –
Becoming a great boss required courage — in particular, the courage to find out how others see you. Almost certainly, others’ perceptions of you will differ in important and perhaps disconcerting ways from your self-perceptions.
…

This is an important topic. It’s not about being liked or popular, as some assumed in reading our previous blog. It’s about your ability to exert influence, which is your major task as a manager. If you don’t know how your words and actions are perceived and understood, if you don’t know if others trust you (and if they don’t, why not), if you don’t know what others want and expect from you, how can you exert the influence you want?

The problem is, how do you find out? … Simply asking is unlikely to produce a true or complete answer. As the boss, you will often have trouble finding out the truth about anything, especially when it’s negative or problematic. Even if you’re trusted, people are still aware you hold the keys to promotions, pay, and choice assignments. And if you’re not trusted, why would anyone tell you the truth?

Though there are no simple solutions, we can offer some guidelines: [Read more…]