Growing Revenue not debt

Individuals, Families, Communities and Countries, all must budget living, happiness, and development expenditure to constantly improve lifestyles. Such basic expenditure must be supported by core revenue collections, not borrowings, in order to be sustainable. Borrowings or loans create debt, with principal repayment schedules and interest charges, adding to the total expenditure. Growing revenue is therefore required to match and balance the increase of total expenditure. This is traditionally accomplished by attracting both foreign and local investment, diversifying sectors and industries, incentivizing and supporting startup business, creating jobs and encouraging Wage and Salary growth.

Budget Balancing

Many intelligent minds express a view of balancing a budget; is to borrow to fill the revenue shortfall, this is wrong and comes from the cash accounting that is employed by the Auditor General office. The term budget balancing is very much about reducing expenditure to match, real income, proven revenue estimates. Hence, if revenue is predicted to fall by 10% from the last period, the plan must not be to borrow but to cut expenditure by the same 10% in the current period. Noting that, borrowing adds fees and interest charges to further increase the expenditure, so the borrowing requirements, in this example, can easily be 12 to 15% to achieve the desired balance.

Budgeting Priorities

In very few words and speaking to all investors that create jobs, the objective is to join and support the growing chorus of calls for the public presentation of a society's financial budget to be made, at the very least, three months before any new fiscal measures are introduced, due to go into effect or to be implemented. A time for the population to mentally adjust to changes to the norm; prepare for shared sacrifice or relief, responding to basic living conditions, the effects on the minimum wage and future individual and family plans. A time for public sector officers and others to make the necessary internal alteration to adjust for and maintain smooth operations and also, a period for the investment climate to examine and review projections, and to rethink and to react.

Tax Collection

Reform policies is the term used to narrow the gap between budgeted, projected, expected, and actual, collected, realized taxation and other revenue figures. The technology exist and must be made available, the personnel trained and to be trained must be employed, to track and account for every cent, every transaction, with sufficient redundancies to protect the integrity and the efficiency of the country's main sources of Government’s Revenue. Taxation and other fees charged on earnings by individuals with a birth certificate, by groups registered as legal entities, on trade between such individuals and/or groups, and on holdings capable of appreciation.

Taxes 101

A method of fairly converting and collecting; revenue to finance the nation’s recurrent expenditure; security, healthcare, education, environment, housing, water, transport net, etc., while increasing the nation’s productivity; agriculture, mineral extraction, manufacturing and services sectors, incorporated within the nation’s economic zone, and capital receipts to build on the nation's intrinsic and successive valued assets, from the nation’s current users, to maintain, repair and expand such assets for the benefit and enjoyment of all present and future owners.