Tuesday, February 22, 2011

The X Prize

What happens when the X Prize founders are taxed so much simply for having money that they earned from their hard work and foresight, that they can't sponsor the X Prize Foundation any longer?
Don't know what the X Prize Foundation is, or what I'm even talking about, then go to the link below.
Do you know someone who is very inventive and has a dream, then get them to this link.  It may help them.
Yet, I personally think they should hurry, because how long can foundations exist to help others when the sponsors of such foundations may be taxed so much in the future that they stop sponsoring endeavors such as these?
Earthly riches only last so long, they are not forever.   The mighty often fall, and over burdening of taxes seems to hurry the fall along faster.   The problem is when they fall,   many others employed by them are affected, as well as future employees or maybe even future X Prize Winners who in turn employee others etc...   It would be nice if businesses and charities had no end, but alas many do.   Now, if the end is caused by poor management, then this is understandable, but when it is caused because of the trickle down effect of over taxation, well that is a sad day indeed.   I think we are seeing this happening now and I believe it's only going to get worse. 
You can't give everyone a handout from the government to the people through taxation of the people, even if you start by limiting that taxation to the people with the most money.  It won't work.  It has a trickle down equation to it.  The people with the most money won't always be the people with the most money because it's been taken away by taxes, so they go to the next set of people with the second most amount of money to tax at a high rate, then their money is no longer there either, and it trickles down.  It trickles down because they don't donate to charities or support great helpful foundations, they let employees go from businesses they own, or even close businesses they own.  They try to get out before they lose even more than they already have.  It trickles down to the workers, those in need, or those that could have used foundation monies to invent something that perhaps one day could save lives. 
X marks the spot.  Isn't that what was on treasure maps in the old days? 
Soon I'm afraid that a TA will be added in front of the X, and TAX will mark the spot for all that is not.