I am about to start a new business. Opportunity is everywhere as they say. I have studied and have done my due diligence. I have had great role models—giants in their fields. Names like Gil Gilbertson (truly a hero he), Ed Dahlberg (humble, competent and ethical), and Sister Patricia Mulvaney (truly a Saint) all who came from a different era with different values—examples all. I promise that I won’t pay myself any more than half what CEO’s in Idaho receive in similar businesses—$10 million in annual compensation including deferred compensation and consulting fees after I retire. I will leverage a captive market. I have a guaranteed passive revenue stream that will provide my business with 50% of its income and I will have access to a second stream of income via a private compensation system.
I won’t have to pay corporate, property, and very little sales tax. I will have access to a supply chain and the inherent rebates and kickbacks that are ubiquitous in such a system. Everything about this business is legal—the business model has been tested hundreds of times in Federal and State Courts, but that is not to say that it isn’t corrupt or ripe with collusion. I will arrange to pay my lobbyist thousands of dollars to secure my income stream which will secure billions of dollars of transfer payments to my business. A 1000% ROI in some years depending on how the “cost” is reconciled. My lobbyist will contribute thousands of dollars to the politicians that are charged with regulating my business—I won’t even have to contribute personally to their campaigns. That would after all be a conflict of interest. I will volunteer to sit on Government advisory Boards that will set policy and recommend how to regulate and incentivize my business with government funds. That too is also not a conflict of interest.
I will make sure that I own and control “the means of production”. This will be a service business so that means I will control the labor force whose skill and expertise is all my business has to offer. I will aggressively buy out my competition and offer them employment contracts with strictly enforced “no compete” clauses. I will aggressively enforce mandates and “standards of practice” on employees. I will use tools like credentialing and licensing on employees and private contractors, and I won’t have to be credentialed or licensed myself but will deploy those who are to enforce my rules and directives.
My customers will be in a position of “supplicant”. Professional and financial risk will not be on my shoulders. Contractual responsibility between buyer and seller (giver and receiver of services) will be difficult to identify, but I will be able to hire legions of attorneys to stifle any legal disputes—at no cost to me. I will thus have all the authority with no responsibility or accountability. My customers who will pay taxes to support both revenue streams, if you count taxes that subsidize access to the government subsidized marketplace through the public compensation system.
You know what they say—”Other people’s time, other people’s money”. Knowing that is certainly worth $5million/year, isn’t it?
Can you guess what business I am going to start?
Just look around at who is building the tallest buildings and buying the most land.
